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.

Card Rating ★ ★ ★ ★
  • Fair. No annual fee. No overlimit fee. No foreign transaction fee. Pay up to midnight ET online or by phone on your due date without a fee. Plus, paying late won't raise your APR.*
  • Generous. 5% cash back at Home Improvement Stores, Furniture Stores and Bed Bath & Beyond® on up to $1,500 in purchases from April through June 2014 when you sign up.*
  • Human. 100% U.S.-based customer service available any time.
Read more
Card Rating ★ ★ ★ ★ ★
  • Get 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the APR will be 11.99%-21.99% based upon your creditworthiness.*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer.
  • Citi® Easy DealsSM Get what you want for less. Earn Citi Easy Deals Points for the purchases you make with your card. Redeem your points for great online deals on name-brand merchandise, gift cards and even local deals.
Read more
Card Rating ★ ★ ★ ★
  • 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 12.99% - 21.99% based on your creditworthiness.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • No late fees - EVER
Read more
Card Rating ★ ★ ★ ★ ★
  • Earn $100 cash back after $500 in purchases within the first 3 months of account opening
  • Earn 5% cash back every quarter in must-have categories. Right now, on purchases at The Home Depot®, home furnishing and home and garden stores from 4/1/14 through 6/30/14.
  • Enrollment each quarter is quick and easy
Read more
Card Rating ★ ★ ★ ★
  • 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 12.99% - 21.99% based on your creditworthiness.
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • No late fees - EVER
Read more
Card Rating ★ ★ ★ ★
  • Enjoy 0% Intro APR on Balance Transfers and Purchases for 15 months. After that, the variable APR will be 12.99% - 22.99% based upon your creditworthiness*
  • There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater*
  • 2 ThankYou Points per dollar spent on dining at restaurants and entertainment
Read more
Card Rating ★ ★ ★ ★ ★
  • 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
Read more
Card Rating ★ ★ ★ ★ ★
  • Plus Card: 5% cash back on gas paid at the pump with a qualifying PenFed product*
  • Plus Card: No annual fee
  • Standard Card: 3% cash back on gas purchases paid at the pump
Read more

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.

 Category
 Monthly Spend
 Carry a Balance?

Low interest credit cards

By Shannon Lee | Money Rates Columnist

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:

  1. 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?
  2. Is the APR different for cash advances? What about balance transfers?
  3. If you are going to transfer a balance, what kind of transfer fees can you expect?
  4. 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?
  5. 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.

 

 

 

Showing 0 comments | Add your comment
Add your comment
(required)
(will not be published, required)