For its October issue, Consumer Reports analyzed hundreds of credit cards and named a dozen it believes are worthy of consideration.

Here are the best low-rate, low-fee cards. If you carry a balance, you might want to consider one of these cards.

Capital One Platinum Prestige has an annual percentage interest rate of 7.9 percent and you won't get kicked to a penalty rate unless your payment is three or more days late, twice in one year.

Clear from American Express has an interest rate that varies from 10.99 percent to 14.99 percent depending on your credit score. There are no fees for late payments.

Consumer Reports also recommends IberiaBank Visa Classic, which offers incredibly low rates of 4 to 6 percent.

And Simmons First Visa Platinum has a 7.25 percent interest rate.

Here's something everyone with a credit card should know. Overall interest rates have come down dramatically in the last year, but not necessarily for existing cardholders.

So if you're a good customer and haven't seen your rate drop, it may be time to ask for a lower rate or shop around for one.

More information:

Credit scores hit by reduced card limits

Read the full report