Best Credit Cards - Low Interest
If you're looking for the best low interest credit cards, you've come to the right place. MoneyRates.com has assembled some of the top low-interest credit cards available.
Carrying a balance on your credit card doesn't have to mean night sweats when you think about your APR. Having a low-interest credit card in your wallet lineup can help you save money on purchases large and small. We've corralled some of the best low-interest credit cards in one spot so you can select and apply online.
- 0% intro APR on purchases for 6 months, then the variable standard purchase APR of 10.99% - 20.99%*
- 0% intro APR on balance transfers for 18 months, then the variable standard purchase APR of 10.99% - 20.99%*
- 5% Cashback Bonus(R) in categories that change like gas, restaurants, department stores and more. Limitations apply*
- Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
- 24/7 access to a U.S. based Account Manager within 60 seconds
- $0 Fraud Liability plus automatic mobile and email fraud alerts
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
★ ★ ★ ★ ★
Reg APR
10.99% - 20.99%
Variable
0%
6 months
Excellent
- Earn $100 Bonus Cash Back after you make $500 in purchases in your first 3 months
- 0% Intro APR for 15 months on purchases and balance transfers
- 5% Cash Back on up to $1,500 spent at grocery stores and movie theaters from 4/1/12 - 6/30/12
- You'll enjoy new 5% categories every 3 months like gas stations, restaurants and even airlines. It's free and easy to activate your bonus each quarter!
- Unlimited 1% Cash Back on all other purchases
- Up to an additional 10% Cash Back when you shop online at select merchants through Chase
- No annual fee and rewards never expire
★ ★ ★ ★ ★
Reg APR
12.99% - 22.99%
Variable
0%
15 months
Excellent
- 0% intro APR on purchases and balance transfers for 15 months, then the variable purchase APR of 10.99% - 20.99%*
- 5% Cashback Bonus(R) in categories that change like gas, restaurants, department stores and more. Limitations apply*
- Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
- Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
- 24/7 access to a U.S.-based Account Manager within 60 seconds
- $0 Fraud Liability plus mobile and email fraud alert options
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
★ ★ ★ ★ ★
Reg APR
10.99% - 20.99%*
Variable
0%
15 months
Excellent
- Created for those with Excellent Credit and approval is based on your credit rating and application review.
- Low 7.25% variable standard purchase APR and platinum benefits
- No balance transfer fee for balances transferred in response to this online offer
- No Annual Fee
★ ★ ★ ★ ★
Reg APR
7.25%
Variable
7.25%
life of balance
Excellent
- Earn 10,000 Bonus Miles with every $2,000 in purchases within the first 6 months - up to 20,000 Bonus Miles
- 1 Mile on every $1 you spend - Plus flexible redemption options like travel credits, merchandise, gift cards or cash
- 0% intro APR on balance transfers for 12 months, then the variable purchase APR of 10.99% - 15.99%*
- No restrictions on travel--fly on any airline, book any hotel or car, with no blackout dates
- Travel benefits include secondary collision damage insurance when you rent a car with your Miles by Discover card
- Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
★ ★ ★ ★ ★
Reg APR
10.99% - 15.99%*
Variable
N/A
Excellent
- Earn Cashback Bonus for your good credit management
- 0% intro APR on purchases and balance transfers for 15 months, then the variable purchase APR of 10.99% - 20.99%*
- Up to 20% Cashback Bonus at popular online retailers when you shop through Discover.com
- Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
- 24/7 access to a U.S. based Account Manager within 60 seconds
- $0 Fraud Liability plus mobile and email fraud alert options
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
★ ★ ★ ★ ★
Reg APR
10.99% - 20.99%*
Variable
0%
15 months*
Excellent
- Earn up to $250 in travel rewards--1,000 Bonus miles every month you make a purchase for the first 25 months
- Double Miles on every $1 you spend
- 0% intro APR on purchases and balance transfers for 6 months then the variable purchase APR of 10.99% - 16.99%*
- No restrictions on travel--fly on any airline, book any hotel or car, with no blackout dates
- Flexible redemption options like travel credits, merchandise, gift cards or cash
- Travel Insurance benefits, including primary car rental, lost or damaged luggage, travel delay, and trip cancellation when you book with your Escape by Discover card
- Discover is ranked #1 in customer loyalty--16 years in a row (2012 Brand Keys Customer Loyalty Engagement Index report)
- *Click apply to view rates, fees, rewards, limitations and other important information
★ ★ ★ ★ ★
Reg APR
10.99% - 16.99%
Variable
0%
6 months
Excellent
Annual Fee$60
- Earn 5% cash back on gas purchases paid at the pump**
- Earn 0.25% cash back on all purchases**
- No annual fee
- No foreign transaction fee
- Cash rewards automatically awarded to your account every month
- No caps, limits or tiers on rewards
- Variable 9.99% introductory purchase rate capped through June 30, 2014. During this time the rate can only decrease if the Prime Rate decreases. After June 30, 2014 the cap will be removed and the APR will increase or decrease with the Prime Rate
- 4.99% APR, a promotional rate on transfers made from April 1, 2012 to June 30, 2012, for life of balance. After that the APR for any new balance transfers will be variable 9.99% APR and will vary with the market based on the Prime Rate. There is no balance transfer fee on transfers made between April 1, 2012 and June 30, 2012. The fee for balance transfers made after June 30, 2012 will return to 3% (Min. $10 - Max. $250) per transaction. This transaction subject to credit approval.
★ ★ ★ ★ ★
Reg APR
9.99%
Variable
9.99%*
through June 30, 2014
Excellent
These quotes are from credit card issuers which have paid for a link to their website. Offers are subject to change without notice and may not be the same for all consumers.
Low interest credit cards
Credit card companies are always looking for ways to get your attention, and the promise of a low interest rate is one of those ways. While not everyone can qualify for one, low interest rate credit cards allow qualified borrowers to save greatly over the interest charges they would encounter with a higher-rate card.
What are low interest rate credit cards?
Low interest credit cards are exactly what they sound like: cards that charge you a lower interest rate on your monthly balances than most other credit cards would. Approval for a low interest credit card is often based on your credit score and the information provided during the application process, and in many cases, only those with the best credit will be approved for a low interest rate credit card.
When shopping for a low interest card, it is important to note the difference between introductory APR and standard APR. Many credit cards, including many low interest rate cards, may offer a 0% APR introductory rate on purchases and balance transfers, but not every card that offers an initial zero or low APR will feature a low rate at the end of that introductory period. It is very important to consider what rate you will be charged once that offer period has expired.
As always, read the fine print. Many cards that appear to be a great deal in the short run will prove to be much less enticing once the standard rates and fees apply. Remember: what looks like a great deal at first blush might not be good for your bottom line in the long run.
How to find the best low interest credit cards
Before you jump into the world of low interest credit cards, think about your spending habits and how you intend to use the card before you apply for it. The best low interest credit cards are those that give you the spending flexibility you need while making it easier to pay down your balance.
Again, these five points in the fine print deserve careful consideration:
- The APR is a very important element to consider, as it might not stay low forever. What will you be paying after the introductory period?
- Is the APR different for cash advances? What about balance transfers?
- If you are going to transfer a balance, what kind of transfer fees can you expect?
- Is there something that can void your introductory offer, such as a late payment? What can you expect from late charges and over-the-limit fees?
- Look for the annual fee. Is it charged in one lump sum or spread out over a period of several months?
Focus on cards that give you what you want, narrow the field down to one or two, and then fill out those applications. Several applications at the same time can adversely affect your credit score, so it pays to be selective.
