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Low Interest Credit Cards
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If you plan on carrying a balance on your credit card from one month to the next, your best bet is a card with a low interest rate. It will help minimize the interest you pay and free up your funds. But which one should you choose? Compare introductory annual percentage rates (APRs), regular APRs, and annual fees to determine the right card for you.
Tip: If you consistently pay your balance in full each month, you should look at a rewards credit card instead. That way, you can earn cash back, free travel, or other perks.
What to Look For in a Low APR Card
There are a couple of things to consider:
An introductory period. Many credit cards offer a 0% introductory APR period, where there is no interest for new purchases or balance transfers during the promotional period. This is great if you have some large purchases coming up or if you have existing credit card debt This gives you time to pay off your balance interest-free.
Low ongoing APR. If you usually do not pay off your credit card bill in full each month, look for a card with a low ongoing APR. This will help minimize the amount of interest you pay in the long run.
What Credit Score Do You Need
Usually, you need a good to excellent credit score to qualify for low interest credit cards. This usually means a credit score of around 680 and higher. Though some cards have approved people with scores in the lower 600s. For the lowest interest rates, you usually need excellent credit.
Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
Enjoy 6.5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.74% - 28.49%.
No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
Member FDIC
Our Review: With a cash back offer and no annual fee, does Chase Freedom Unlimited® live up to the hype? Read this in-depth review to see how it stacks up... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 15 months
0% for 15 months
19.74% - 28.49% Variable
$0
Blue Cash Everyday® Card from American Express earns a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months. This card earns 3% cash back at U.S supermarkets on up to $6,000/year in purchases, then 1%. Earn 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%. Earn 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout. There is a 0% intro APR for 15 months on purchases from the date of account opening, then a variable rate, 18.24% to 29.24%. There is no annual fee. Terms apply.
Our Review: If you want a cash back credit card with the same rewards categories year-round, then consider the Blue Cash Everyday® Card from American Express... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% on Purchases for 15 months
0% on Balance Transfers for 15 months
18.24% - 29.24% Variable
$0
BankAmericard® credit card offers a 0% intro APR for 21 billing cycles on purchases and balance transfers (made within 60 days of opening your account). After that, a variable APR of 16.24% - 26.24%. There is a 3% balance transfer fee (min $10). There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Introductory APR on purchases for 21 billing cycles
0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days
16.24% - 26.24% Variable APR on purchases and balance transfers
$0
HSBC Gold Mastercard® credit card offers a 0% Intro APR on purchases and balance transfers for the first 18 months from Account opening. Then a variable APR of 13.99% - 22.99% will apply. There is no penalty APR, no foreign transaction fees and no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Intro APR for 18 months
0% Intro APR for 18 months
Variable APR of 13.99% - 22.99% will apply after the Introductory Period
$0
Discover it® Cash Back will match all the cash back you've earned at the end of your first year. This offer is only for new customers. This card earns 5% cash back in bonus categories that change each quarter (up to the quarterly maximum; requires free activation each quarter). All other purchases earn 1% cash back.
Our Review: With bonus cash back, low interest rate and no annual fee, Discover It is a good card for many. Is it right for you? Read on for the pros and cons... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 15 months
0% for 15 months
18.49% - 27.49% Variable
$0
Discover it® Chrome will match all the cash back you've earned at the end of your first year. This offer is only for new customers. This card earns 2% cash back at gas stations and restaurants (on up to $1k in combined purchases every quarter with no quarterly activation required). All other purchases earn 1%.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 15 months
0% for 15 months
18.49% - 27.49% Variable
$0
Bank of America® Customized Cash Rewards credit card offers $200 online cash rewards bonus if you spend at least $1,000 on purchases within the first 90 days of opening your account. This card earns 3% cash back in your choice category and 2% cash back at grocery stores and wholesale clubs (on up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). Earn 1% on other purchases. There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Introductory APR on purchases for 15 billing cycles
0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
18.24% - 28.24% Variable APR on purchases and balance transfers
$0
Capital One Quicksilver Cash Rewards Credit Card offers $200 cash back if you spend $500 on purchases within three months of account opening. This card earns 1.5% cash back on all purchases. There is a 0% intro APR on purchases and balance transfers for 15 months. After that, a variable APR, currently 19.49% to 29.49%. There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% intro on purchases for 15 months
0% intro on balance transfers for 15 months
19.49% - 29.49% (Variable)
$0
Capital One VentureOne Rewards Credit Card offers a one-time bonus of 20,000 miles if you spend $500 on purchases within three months of account opening. 20,000 miles is equal to $200 in travel. This card earns 1.25 miles per dollar on all purchases. You can redeem miles toward travel purchases on any airline, hotel, or car rental. There is a 0% intro APR on purchases and balance transfers for 15 months. After that, a variable APR, currently 19.49% to 29.49%. There are no foreign transaction fees. There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% intro on purchases for 15 months
0% intro on balance transfers for 15 months
19.49% - 29.49% (Variable)
$0
Citi Diamond Preferred® Card offers a 0% intro APR on balance transfers for 21 months and a 0% intro APR on purchases for 12 months. After that, a variable APR, currently 17.49% to 28.24% depending on your creditworthiness. There is a 5% balance transfer fee ($5 minimum). There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0%* for 12 months*
0%* for 21 months*
17.49% - 28.24%* (Variable)
$0*
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
Disclaimer: The information for the Blue Cash Everyday® Card from American Express, BankAmericard® credit card, HSBC Gold Mastercard® credit card, Discover it® Cash Back, Discover it® Chrome, Bank of America® Customized Cash Rewards credit card, Capital One Quicksilver Cash Rewards Credit Card, Capital One VentureOne Rewards Credit Card, and Citi Diamond Preferred® Card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.
Just starting out? The best credit cards for young adults have good rewards and benefits with low fees. Read this before you get your first credit card.
Low Interest on Balance Transfers
Blue Cash Everyday® Card from American Express earns a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months. This card earns 3% cash back at U.S supermarkets on up to $6,000/year in purchases, then 1%. Earn 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1%. Earn 3% Cash Back at U.S. gas stations, on up to $6,000 per year, then 1%. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout. There is a 0% intro APR for 15 months on purchases from the date of account opening, then a variable rate, 18.24% to 29.24%. There is no annual fee. Terms apply.
Our Review: If you want a cash back credit card with the same rewards categories year-round, then consider the Blue Cash Everyday® Card from American Express... Read full review
Intro Offer: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
Enjoy 6.5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.74% - 28.49%.
No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
Member FDIC
Our Review: With a cash back offer and no annual fee, does Chase Freedom Unlimited® live up to the hype? Read this in-depth review to see how it stacks up... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 15 months
0% for 15 months
19.74% - 28.49% Variable
$0
Blue Cash Preferred® Card from American Express earns a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months. This card earns 6% cash back at U.S. supermarkets (on up to $6,000/year in purchases, then 1%) and on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, and buses), and 1% on other purchases. You will receive cash back in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout. There is a 0% intro APR on purchases and balance transfers for 12 months from the date of account opening, then a variable rate, currently 18.24% to 29.24%. There is a $0 intro annual fee for the first year, then $95.. Terms apply.
Our Review: If you are looking to get cashback rewards on common household categories like purchases at U.S. supermarkets and U.S. gas stations, consider the Blue Cash Preferred® Card from American Express. Amex created the Preferred card as an upgrade to the Blue Cash Everyday... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% on purchases for 12 months
0% on balance transfers for 12 months
18.24% - 29.24% Variable
$0 intro annual fee for the first year, then $95
BankAmericard® credit card offers a 0% intro APR for 21 billing cycles on purchases and balance transfers (made within 60 days of opening your account). After that, a variable APR of 16.24% - 26.24%. There is a 3% balance transfer fee (min $10). There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Introductory APR on purchases for 21 billing cycles
0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days
16.24% - 26.24% Variable APR on purchases and balance transfers
$0
Citi Diamond Preferred® Card offers a 0% intro APR on balance transfers for 21 months and a 0% intro APR on purchases for 12 months. After that, a variable APR, currently 17.49% to 28.24% depending on your creditworthiness. There is a 5% balance transfer fee ($5 minimum). There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0%* for 12 months*
0%* for 21 months*
17.49% - 28.24%* (Variable)
$0*
Citi Simplicity® Card offers a 0% intro APR on balance transfers for 21 months and 0% intro APR on purchases for 12 months. After that, a variable APR, currently 18.49% to 29.24% depending on your creditworthiness. There is an introductory balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater for balances transfers completed within 4 months of account opening. After that, balance transfer fee will be $5 or 5% of the amount of the transfer, whichever is greater. There are no late fees, no penalty rates and no annual fees.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0%* for 12 months*
0%* for 21 months*
18.49% - 29.24%* (Variable)
$0*
Citi® Double Cash Card earn cash back twice on every purchase. You earn 1% cash back when you buy, and an additional 1% cash back as you pay for those purchases. There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
N/A
0%* for 18 months*
18.49% - 28.49%* (Variable)
$0*
HSBC Gold Mastercard® credit card offers a 0% Intro APR on purchases and balance transfers for the first 18 months from Account opening. Then a variable APR of 13.99% - 22.99% will apply. There is no penalty APR, no foreign transaction fees and no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Intro APR for 18 months
0% Intro APR for 18 months
Variable APR of 13.99% - 22.99% will apply after the Introductory Period
$0
Bank of America® Customized Cash Rewards credit card offers $200 online cash rewards bonus if you spend at least $1,000 on purchases within the first 90 days of opening your account. This card earns 3% cash back in your choice category and 2% cash back at grocery stores and wholesale clubs (on up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). Earn 1% on other purchases. There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Introductory APR on purchases for 15 billing cycles
0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
18.24% - 28.24% Variable APR on purchases and balance transfers
$0
Discover it® Cash Back will match all the cash back you've earned at the end of your first year. This offer is only for new customers. This card earns 5% cash back in bonus categories that change each quarter (up to the quarterly maximum; requires free activation each quarter). All other purchases earn 1% cash back.
Our Review: With bonus cash back, low interest rate and no annual fee, Discover It is a good card for many. Is it right for you? Read on for the pros and cons... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 15 months
0% for 15 months
18.49% - 27.49% Variable
$0
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.
Disclaimer: The information for the Blue Cash Everyday® Card from American Express, Blue Cash Preferred® Card from American Express, BankAmericard® credit card, Citi Diamond Preferred® Card, Citi Simplicity® Card, Citi® Double Cash Card, HSBC Gold Mastercard® credit card, Bank of America® Customized Cash Rewards credit card, and Discover it® Cash Back has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.
Credit cards with low interest rates are a great way for consumers to increase their buying power while saving money.
Saves money
If you plan on carrying a balance on your credit card – and who doesn’t nowadays – then the interest rate associated with that card becomes extremely important. The higher the rate, the more you will have to pay for using the card for your purchases.
Just think, when you purchase a $1,200 TV using a credit card with a 24% APR, you will spend $576 in interest if you pay off that purchase over a two-year span. If you purchase that same TV with a low interest credit card that has an APR of 11%, you will spend just $264 in the same time period. That’s a savings of $312. Now, apply that savings to all of your small and big purchases, and you can see how low interest rates credit cards can save you money.
You will also save money with a low interest credit card if you use it for balance transfers. A balance transfer is when you utilize your low rate card to pay off other credit cards. This can save you big money depending on the rate of the card that you are paying off. As demonstrated by the above example, cutting your APR in half can seriously decrease your interest paid over time.
Estimate Your Balance Transfer Savings
Enter information about your existing credit card(s)
Card
Balance
APR (Interest Rate)
#1
$
%
#2
$
%
#3
$
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Enter information about the card you're transferring to
Enter the intro APR on Balance Transfers (Interest Rate):
%
Enter the length of the intro period:
months
Enter the regular APR (Interest Rate):
%
Enter the annual fee:
$
Enter the balance transfer fee (% of balance):
%
Enter monthly payment:
$
Lowers minimum payment
Credit cards with low interest not only save you money in the long run, they can also free up cash every month. This is because lower interest results in lower monthly payments.
Minimum payments are a specific percentage of what you owe. The less you owe in interest, the less you will owe overall for your credit card. This means you have more money each month to pay other bills and do something fun with your friends and family.
Pays off debt faster
Low interest credit cards make it easier and faster to pay off your credit card debt. As mentioned previously, the credit cards can be used to complete balance transfers. When you transfer balances from your high rate cards, your debts will get the lower interest rate. So if you continue to pay the same amount each month that you were paying under the higher rate cards, your debts will be paid in full much faster.
For example, say you had a $1,000 balance on a 21% APR card. Minimum monthly payments for that card were $40; making just the monthly payments would take you 7 years and 11 months to pay off the card. If you were to do a balance transfer to a low interest credit card with an APR of 9.9%, but continued making the same monthly payment, you would pay off the debt in 6 years instead. That’s paying off the debt almost 2 years earlier while still saving big money.