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If you're looking for the best low interest credit cards, you've come to the right place.  MoneyRates.com has assembled low-interest credit cards here.

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.

Category
Monthly Spend
Carry a Balance?
Card Rating
  • Unlimited 1.5% Cash Back on every purchase - no exclusions
  • Cash Back redemption is applied as a statement credit
  • $150 Cash Back Bonus2 after you spend $500 on purchases in your first 3 months from account opening
Read more
Apply Now
On Commerce Bank secure website
Purchase APR
11.24%-21.24%
Variable APR
Purchase intro
APR: 0% Periods12 months
Credit Needed
Excellent, Good
Annual fee
$0
Card Rating
  • Enjoy the lowest APR of any major bank in the U.S.
  • Same low rate for purchases, balance transfers and cash advances.
  • No foreign transaction fee.
Read more
Apply Now
On USAA secure website
Purchase APR
7.90% to 24.90%
Variable
Purchase intro
APR: N/A
Credit Needed
Good, Fair
Annual fee
$0
Card Rating
  • Created for those with EXCELLENT CREDIT and approval is based on your credit rating and application review.
  • Low 8.25% variable standard purchase APR and platinum benefits
  • No balance transfer fee for balances transferred
Read more
Apply Now
On Simmons Bank secure website
Purchase APR
8.25% (Variable)
Purchase intro
APR: None
Credit Needed
Excellent
Annual fee
None
Card Rating
  • Created for those with EXCELLENT CREDIT and approval is based on your credit rating and application review.
  • Low 10.25% variable standard purchase APR and platinum benefits
  • No balance transfer fee for balances transferred
Read more
Apply Now
On Simmons Bank secure website
Purchase APR
10.25% (Variable)
Purchase intro
APR: None
Credit Needed
Excellent
Annual fee
None
Card Rating
  • 0% APR promo balance transfer rate for 12 months with 3% balance transfer fee, now through September 30, 2017. After that, the APR for the unpaid balance and any new balance transfers will be 9.74% to 17.99%. APR will vary with the market based on Prime Rate. Subject to credit approval. $100 bonus after spending $1,500 in purchase transactions within 3 months of account opening.
  • Rate and offers current as of August 1, 2017 and are subject to change.
  • 1.5% unlimited cash back on all purchases
Read more
Apply Now
On PenFed Credit Union secure website
Purchase APR
9.74% to 17.99%
Subject to credit approval.* Your APR will vary with the market based on the Prime Rate.
Purchase intro
APR: N/A
Credit Needed
Good
Annual fee
$0
Card Rating
  • 0% APR promo balance transfer rate for 12 months, now through September 30, 2017. After that, the APR for the unpaid balance and any new balance transfers will be 8.99% to 17.99%. APR will vary w/the market based on Prime Rate. 3% balance transfer fee per transaction. Subject to credit approval. $100 bonus after spending $1,500 in purchase transactions within 3 months of account opening.
  • Rate and offers current as of August 1, 2017 and subject to change.
  • No annual fee
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Apply Now
On PenFed Credit Union secure website
Purchase APR
8.99% to 17.99%
when you open your account, based on your credit worthiness.* Your APR will vary with the market based on the Prime Rate.
Purchase intro
APR: N/A
Credit Needed
Excellent
Annual fee
$0
Card Rating
  • 0% APR promo balance transfer rate for 12 months, now through September 30, 2017. After that, the APR for the unpaid balance and any new balance transfers will be 9.74% to 17.99%. APR will vary with the market based on Prime Rate. 3% balance transfer fee per transaction. Subject to credit approval.
  • Rate and offers current as of August 1, 2017 and subject to change.
  • Earn 5 points on airfare purchases.
Read more
Apply Now
On PenFed Credit Union secure website
Purchase APR
9.74% to 17.99%
when you open your account, based on your creditworthiness.* Your APR will vary with the market based on the Prime Rate.
Purchase intro
APR: N/A
Credit Needed
Excellent
Annual fee
$0
Card Rating
  • 4.99% APR promo balance transfer rate for 12 months with no balance transfer fee now through September 30, 2017. After that, the APR for the unpaid balance and any new balance transfers will be 9.49% to 17.99%. APR will vary w/the market based on Prime Rate. Subject to credit approval. $100 bonus after spending $1,500 in purchase transactions within 3 months of account opening.
  • Rate and offers current as of August 1, 2017 and are subject to change.
  • Absolutely no fees
Read more
Apply Now
On PenFed Credit Union secure website
Purchase APR
9.49% to 17.99%
Subject to credit approval.* Your APR will vary with the market based on the Prime Rate.
Purchase intro
APR: N/A
Credit Needed
Excellent
Annual fee
$0
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

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.

     

     

     

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