Low interest rates are greatest concern for credit card applicants

A new report from comScore indicates many consumers are gaining confidence in the U.S. economy and are looking to secure a new credit card.

The research leader's annual Online Credit Card Report, which included data from a research panel of 1 million consumers and a survey of roughly 2,000 Internet users, found that 20 percent of all cardholders say they shopped for a new card during the past 12 months, while 34 percent of consumers who feel optimistic about the direction of the country's economy say they're looking for a new piece of plastic.

Cardholders are not selecting just any type of card, however. About 40 percent of consumers say they are most interested in cards with low interest rates, while 28 percent say their greatest concern is not having to pay an annual fee.

The data from the report indicate consumers are recognizing that unfavorable interest rates may be hurting their finances and costing them more money. Rates are in large part based on a person's credit score, and some individuals may have a poor score through no fault of their own.

This is because in a number of instances, credit reports contain mistakes or questionable items that unfairly bring down a consumer's three-digit number. By working with a credit lawyer, some individuals may receive the support and guidance they need to investigate and dispute these marks, which may subsequently improve their scores and allow them to qualify for lower interest rates.