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Low Interest Credit Cards

Considering the average credit card has an interest rate around 18%, low interest credit cards are classified as those with regular APRs below 13%. Such cards are best for consumers who infrequently carry a revolving credit card balance. If you already have credit card debt or you regularly carry a balance, we recommend checking out balance transfer credit cards and credit cards offering 0% on purchases, respectively.

While you might assume that everyone wants a low interest rate, regardless of their spending and payment habits, that isn’t always the case. Getting a low regular rate often means sacrificing in terms…show more

    Capital One® VentureOne® Rewards Credit Card


    capital one ventureone
    • 0% Purchases until March 2016
    • 0% Transfers Not Offered
    • Regular Rate 11.9% - 21.9% (V)
    • Annual Fee None
    • Rewards Rate 1.25 miles / $1
    • Rewards Bonus 20,000 miles
    • Minimum Credit Excellent, Good
    • Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within the first 3 months, equal to $200 in travel
    • Earn unlimited 1.25 miles on every purchase, every day and pay no annual fee
    • Fly any airline, stay at any hotel, anytime.
    • Travel when you want—no blackout dates.
    • Miles don't expire and there’s no limit to how many you can earn
    • See All Reviews & Details About The Capital One® VentureOne® Rewards Credit Card

    Citi Simplicity® Card


    citi simplicity credit card
    • 0% Purchases 18 months
    • 0% Transfers 18 months3% (min $5) Transfer Fee
    • Regular Rate 12.99% - 22.99% (V)
    • Annual Fee $0*
    • Rewards Rate None
    • Minimum Credit Excellent
    • 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be12.99% - 22.99% 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.
    • No penalty rate - EVER.
    • No annual fee - EVER.
    • Save time when you call with fast, personal help, 24 hours a day.
    • See All Reviews & Details About The Citi Simplicity® Card

    Citi® Double Cash Card


    citi double cash card
    • 0% Purchases 15 months
    • 0% Transfers 15 months3% (min $5) Transfer Fee
    • Regular Rate 12.99% - 22.99% (V)
    • Annual Fee $0*
    • Rewards Rate 1% - 2% cash back
    • Rewards Bonus None
    • Minimum Credit Excellent
    • The only card that earns you cash back TWICE on every purchase with:
    • 1% cash back when you buy
    • Plus 1% cash back as you pay for those purchases, whether you pay in full or over time*
    • No Category Restrictions, No Caps, No Enrollments in Rotating Categories
    • See All Reviews & Details About The Citi® Double Cash Card

    Capital One® Quicksilver® Cash Rewards Credit Card


    capital one quicksilver cash rewards credit card
    • 0% Purchases until December 2015
    • 0% Transfers until December 20153% Transfer Fee
    • Regular Rate 12.9% - 22.9% (V)
    • Annual Fee None
    • Rewards Rate 1.5% cash back
    • Rewards Bonus $100
    • Minimum Credit Excellent, Good

    Chase Slate®


    chase slate
    • 0% Purchases 15 months
    • 0% Transfers 15 monthsNo Transfer Fee
    • Regular Rate 12.99% - 22.99% (V)
    • Annual Fee $0
    • Rewards Rate None
    • Minimum Credit Excellent, Good
    • Chase Slate named "Best Credit Card for Balance Transfers" two years in a row by Money Magazine
    • $0 Introductory balance transfer fee for transfers made during the first 60 days.
    • 0% Introductory APR for 15 months on purchases and balance transfers.
    • $0 Annual Fee
    • NEW Free Monthly FICO® Score and Credit Dashboard
    • See All Reviews & Details About The Chase Slate®

    Blue Cash Everyday® Card from American Express


    american express blue
    • 0% Purchases 15 months
    • 0% Transfers 15 months3% Transfer Fee
    • Regular Rate 12.99%-21.99%
    • Annual Fee $0
    • Rewards Rate 1% - 3% cash back
    • Rewards Bonus $100
    • Minimum Credit Excellent
    • Get $100 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $100 back in the form of a statement credit.
    • Hassle-free cash back: no enrollment required, the same great reward categories year-round.
    • Earn Cash Back: 3% U.S. supermarkets up to $6,000 per year in purchases, 2% U.S. gas stations & select U.S. dept stores, 1% other purchases. Terms and limitations apply.
    • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit.
    • See All Reviews & Details About The Blue Cash Everyday® Card from American Express

    Capital One® Platinum Prestige Credit Card


    capital one platinum prestige
    • 0% Purchases until June 2016
    • 0% Transfers until June 20163% Transfer Fee
    • Regular Rate 10.9% - 20.9% (V)
    • Annual Fee None
    • Rewards Rate None
    • Minimum Credit Excellent, Good
    • Get 0% intro APR on all purchases until June 2016; 10.9%-20.9% variable APR after that
    • Balance transfers also have a 0% intro APR until June 2016, a 3% fee applies to each balance transferred
    • Pay no annual fee or foreign transaction fees
    • Fraud coverage if your card is lost or stolen
    • Enjoy extended warranty protection on eligible items purchased with your card
    • Easily manage your account 24/7 with online access, by phone, or using our mobile app
    • Pick the monthly due date that works best for you
    • 100% free Capital One® Credit Tracker — see your monthly credit score anytime and get automatic alerts
    • See All Reviews & Details About The Capital One® Platinum Prestige Credit Card

    Capital One® Venture® Rewards Credit Card


    capital one venture
    • 0% Purchases Not Offered
    • 0% Transfers Not Offered
    • Regular Rate 12.9% - 22.9% (V)
    • Annual Fee $0 for 1st yr, $59 after
    • Rewards Rate 2 miles / $1
    • Rewards Bonus 40,000 miles
    • Minimum Credit Excellent, Good
    • Enjoy a one-time bonus of 40,000 miles once you spend $3,000 on purchases within the first 3 months, equal to $400 in travel.
    • Earn unlimited 2X miles on every purchase, every day.
    • Fly any airline, stay at any hotel, anytime.
    • Travel when you want—no blackout dates.
    • Miles don't expire and there’s no limit to how many you can earn
    • See All Reviews & Details About The Capital One® Venture® Rewards Credit Card

    Blue Cash Preferred® from American Express


    american express blue cash preferred
    • 0% Purchases 15 months
    • 0% Transfers 15 months3% Transfer Fee
    • Regular Rate 12.99%-21.99% (V)
    • Annual Fee $75
    • Rewards Rate 1% - 6% cash back
    • Rewards Bonus $150
    • Minimum Credit Excellent
    • Get $150 back after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $150 back in the form of a statement credit.
    • Hassle-free cash back: no enrollment required, the same great reward categories year-round.
    • Earn Cash Back: 6% US supermarkets up to $6,000 per year in purchases, 3% US gas stations & select US dept stores, 1% other purchases. Terms and limitations apply.
    • Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit
    • See All Reviews & Details About The Blue Cash Preferred® from American Express

    U.S. Bank Visa® Platinum Credit Card


    us bank platinum credit card
    • 0% Purchases 15 months
    • 0% Transfers 15 months3% Transfer Fee
    • Regular Rate 9.99% - 20.99% (V)
    • Annual Fee $0*
    • Rewards Rate None
    • Minimum Credit Excellent
    • 0% Intro APR* on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 9.99%-20.99%.
    • Online bill pay for a fast and convenient way to pay bills online with your U.S. Bank Visa® Platinum
    • $0 fraud liability* for unauthorized transactions if your card is ever lost or stolen
    • Fraud Protection detects and notifies you of any unusual card activity to help prevent fraud
    • Online account management and account alerts
    • *No annual fee.
    • The card is only available to residents in: AZ,AR,CA,CO,ID,IL,IN,IA,KS,KY,MN,MO,MT,NE,NV,ND,OH,OR,SD,TN,UT,WA,WI,WY,NM
    • See All Reviews & Details About The U.S. Bank Visa® Platinum Credit Card
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    Good Credit 661 – 720
    Fair Credit 620 – 660
    Bad Credit 300 – 619
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    Expert’s Answers

    How important is getting a low interest rate?

    By: John Kiernan, Personal Finance EditorThe importance of a low interest rate really depends on your payment habits. For example, if you always pay your bill in full, your credit card interest rate doesn’t matter at all, and by making a low interest credit card a priority, you are sacrificing the competitiveness of features that you could actually use, such as rewards. Still, some people who always pay their balances in full wind up in the “low interest credit card” category because they’re worried about the cost of finance charges, should they forget to pay their bills one month. The truth, however, is if that happens and you have a record of paying your balance in full, credit card companies will almost always refund any finance charges, making this a moot point.

    When it comes to people who consistently revolve credit card debt, low interest rate credit cards would help, but leveraging 0% credit cards would be even better since your full monthly payment will go toward the principal instead of being wasted on finance charges. Now, a low interest card is very important if you occasionally revolve a balance because your credit card company won’t give you the benefit of the doubt and a 0% credit card will not provide the long-term solution that you need.

    Which credit card company is best for low interest credit cards?

    By: John Kiernan, Personal Finance EditorThe primary differences between credit card companies revolve around customer service and card terms. Customer service is important and many consumers have favorite issuers based on reputation for good customer service or past experiences. However, customer service should only be used as a tiebreaker of sorts between cards with the same terms and should not be used as the primary deciding factor in your search for low interest credit card offers. You want the card with the lowest possible rate, after all, not one that forces you to pay more for more helpful representatives.

    Are there any low fixed interest credit cards?

    By: John Kiernan, Personal Finance EditorNo, low fixed interest credit cards aren’t available anymore. When the new credit card law (CARD Act) took effect in February 2010, credit card companies lost the ability to change interest rates whenever they want. With the exception of small business credit cards, which were excluded from the law, credit card companies can now only increase interest rates on existing balances when consumers become 60+ days delinquent. This necessitates that all credit cards have variable regular rates. In other words, since issuers can no longer adjust interest rates to reflect changes in the economic environment and the Prime Rate, they can no longer afford to offer low fixed interest credit cards. Of course, introductory interest rates are an obvious exception to this rule, since they have a set expiration date.

    How high/low can credit card interest rates get?

    By: John Kiernan, Personal Finance EditorObviously, interest rates can be as low as 0%. On the other hand, the fact that there is no national usury law and most credit card companies operate under charters that allow them to be federally regulated, rather than on the state level, means interest rates can go as high as consumers are willing to pay. The highest rate we’ve seen is 49.9% by First Premier Bank. Keep in mind that if you become at least 60 days delinquent, a penalty rate will take effect. Given that the average penalty interest rate is 28.5%, according to Card Hub’s data, this would certainly dampen the benefit of even the best low interest credit cards. It’s also important to note that there are usury laws at the state level, so if you are getting a credit card from a local bank, there might be an interest rate ceiling.

    Community Discussion

    Ask a question or help others find the best low interest credit cards by sharing some tips.

     
    Mar 24, 2015
    By:
    For me personally low interest is very important because it gives me a "grace" period. There are times when I am unable to pay right on time because of the eb and flow of my work and that saves me.

    Another thing that is important to me is a reward program. I like cards that have something to offer back with usage whether it is gas point, grocery or money back at the end of each month. I rely on credit cards and prefer them over cash.
    Mar 10, 2015
    By:
    Getting a low interest credit card is definitely of importance, especially if you think you’ll be using it a lot and not being able to pay the full amount monthly. Some credit card interest rates can be upwards of 25% which means you are paying a ton in additional fees. If you’re looking to save money in the long run, low interest is the way to go.
    Feb 24, 2015
    By:
    A low interest rate on a credit card is an important feature on a credit card. I typically pay off my credit cards every month. But, if for some reason, I would not be able to pay it off, I would have some solace knowing that the interest that would be on my credit card would be low and I would be able to pay it off next month. People often get into trouble using credit cards and pay the minimum every month. This is how they get into trouble. The interest on the card will compound and it is likely the individual will take years to pay off the credit card. A low interest rate is important to me.
    Jan 8, 2015
    By:
    Low interest isn't nearly as important as other things for credit cards. This is because I almost always pay off my balance before any interest is charged to me. Thus three things are way more important to me. First is credit limit. The more I have the more I can use it on big ticket items where I would really like to use a card rather than cash. Second is rewards. Since I pay off my card always, I want good rewards that make the card pay me essentially. Finally is yearly fees. I want cards with low fees because that is just wasted money.
    Dec 18, 2014
    By:
    Low interest is the most important factor to me besides having no annual fees for owning the card. If I could afford to pay the card in full each month, I wouldn't need to apply for a credit card. My first card had high interest and it took me forever to pay off. I've since gotten a card with a lower interest rate (12.99% vs. 23.99% that my first card had!)
    Dec 18, 2014
    By:
    Low interest is not something that I look for when applying for a credit card. The only people that should worry about that are the ones that don't make their payments on time or they aren't ready for a credit card because they don't know how to use one. I only look for how much credit I can have on a credit card. I pay my bills on time and have never paid any interest on a credit card.
    Nov 28, 2014
    By:
    Low balance credit card is most important, if you can't pay your balance on time then you won't be charge high interest by which it helps you to save interest charge and helps to use card more freely than high interest credit cards. But mostly low interest credit card usually gives you less rewards points.
    Dec 18, 2014
    Photo of Tova H.
    I completely agree that a low balance credit card is highly important for some people, me being one of them too. I prefer not to have a high interest card where I am struggling each month just to pay the interest rather than the amount I have charged. Sometimes I don't even dig into the amount I have charged. Something is wrong there. I understand why some interest is important, but not to a breaking point.
    Nov 19, 2014
    By:
    The most important thing I look for when applying for a new credit card is whether or not it has a low interest rate. Usually the rewards and other perks that come with credit cards are negligible but the interest rate will usually make an impact every single month.

    When I was in college I had a credit card that had a high interest rate because I was young and didn't really think it would come into play. I thought I would be responsible with it and wouldn't end up with a high balance but I slipped and maxed out the card. I couldn't afford to pay off the card in full for a while so I was just making the minimum payments on the card. Eventually I realized that I was making no progress at all; the interest rate would just eat up the payments I would make and I would be back at the same spot every single month. It was disheartening to pay the bill every month without seeing the outstanding balance take a dent at all.

    After this experience I realized I have to be more careful when it comes to applying for credit cards. I found a different card that had a more reasonable rate and it made a world of difference. Even when I run up a bit of a balance on the card, the low interest doesn't break my back or anything and it's much easier to manage. As far as I'm concerned there more
    Nov 13, 2014
    By:
    Getting a low interest credit card is very important, I like to know each month that the majority of my credit card payment is going towards paying down the principle and not going towards interest. The higher the interest rate the longer it will take to pay off the debt, when paying the minimum amount the credit company sets. Interest rates vary across credit cards, and there are many choices out there. The way I look at it, say the interest rate is 25% a month, for every $100 added to the card you will owe an extra $25. I like to look for a good card with a low interest rate the lower the better, I try to go for one's at least 15% or lower. I also look at other things such as how long of a period of interest free purchases when opening the card, it's nice for if you know you have a bigger purchase, that way you have a chance to pay it down before the interest rate kicks in. I also check to make sure there are no annual fee for using the credit company, many providers do not ask for an annual fee, but it is good to double check. Check for other perks, many cards have special offers, bonuses, or even cash back. There are many different cash back offers on different cards such as cash back on gas, at the home improvement store, and more. Some offer things like extra miles more
    Jan 16, 2015
    Photo of Desmond S.
    I also believe that low interest credit cards are useful to the individual who wants to avoid major debt in the long run. Fortunately, most cards have a minimum monthly amount that allows for you to gradually pay off your dues. I just have to be very careful when signing up for new cards as too much interest is financially irresponsible on my part. I like to look for a good card with a low interest rate, it kind of makes up for the other features that may not be as good. In addition, I usually check to make sure that the annual fee is little to none because many providers will try to slip this in upon agreement. I don’t really care much for other perks although I do like the concept of cash back. Due to my punctuality with payments and fees, I am in a position to lower my current interest rate.
    Oct 13, 2014
    By:
    I definitely prefer credit cards that have low interest when applying. This is important because it determines how much you’ll be paying if you have a balance in your account and don’t pay it full every month. You want a card with as low interest rate as possible. I used the Chase Simplicity card because it has zero interest rate the first 18 months which is a pretty long introductory rate.
    Oct 1, 2014
    By:
    A low interest card is very important when you need to make a purchase that you know you won't be able to pay off within the grace period. Also helpful are cards with a low introductory purchase rate, and sometimes you'll find a card with zero intro purchase rate. Chase Slate is one of these - at only 12.99% (variable) and with a 15-month zero intro purchase rate, it's great for making large purchases! I used Slate to purchase a new TV and paid it off over the course of six months, which was great for my limited budget.
    Sep 7, 2014
    By:
    I don't normally look at the interest rate when getting a credit card as I try my best to pay everything off by the due date. I dislike paying interest so I try to do this if I can. But sometimes, there are months where I'm short on money and I can't pay everything off at once. I've used Citi Diamond Preferred card and the interest rate is pretty low. The APR can be as low as 11.99%. This is a good card for those who don't pay their credit card in full each month.
    Aug 27, 2014
    By:
    Having a low-interest credit card is very important for me, because usually I use my credit cards for purchasing things like household goods, baby necessities, and food. I usually have a balance on my credit card, so I don't want my interest to be too high. Low interest is actually probably my number one priority when I'm applying for a credit card, because I am not that interested in perks or anything, I just want to be able to make necessary purchases without too much interest.
    Jul 29, 2014
    By:
    When looking for a credit card, my husband and I do not particularly pay attention to the interest rate as we always pay the amount in full each pay period. When selecting a credit card, we mainly pay attention to the rewards and discounts offered by the credit card company. Right now, we use a Capital One card and receive up to 5% cash back on select purchases and 1% cash back on all purchases. If we decide to not cash in until we accumulated $100, we receive an extra $25 per month. Also, there is no annual fee, which is excellent! I understand why people do consider interest rates, especially if the individual is primarily using it to make a purchase that they are unable to pay off before the monthly statement comes out. At one point, we needed to purchase a bath tub and was unable to pay the card off in full by the end of the month and we needed to make a few monthly payments on it. Prior to purchasing the tub, we looked at other credit cards to compare interest rates and Capital One definitely has one of the lowest interest rates.
    Jul 21, 2014
    By:
    Low Interest rates are the number one thing I look for when I am picking a credit card. I rarely use a credit card, but when I do I try to avoid having to pay double the original price because of steep interest rates. I also look out for customer service rankings for credit cards. If something happens to go wrong I do not want to have to spend 3 hours talking on the phone with someone to fix a mistake. If a company has an issue with one of these two I will not even apply. I do not mind paying some fees, but high interest rates and bad customer service are a major turnoff!
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