10 Best Low APR Credit Cards
10 Best Low APR Credit Cards
Low APR Credit Cards are ideal for individuals who tend to carry balances month-to-month. These cards offer a lower annual percentage rate (APR) compared to regular credit cards, which helps reduce the amount of interest you pay on outstanding balances. Low APR cards often come with various features like balance transfer options, introductory 0% APR offers, and long-term low rates that help keep your financial costs down. These cards are beneficial for consumers who need extra time to pay off large purchases or for those seeking a simple, low-cost option for borrowing.
The key benefit of Low APR Credit Cards is the reduced interest rate, which can save you significant amounts of money over time. Whether you're looking to transfer a balance or simply reduce interest on everyday purchases, these cards can help you manage your debt more efficiently. Some low APR cards also come with additional perks, such as rewards programs, cash back, or no annual fees, making them even more attractive. Below, we've compiled a list of the 10 Best Low APR Credit Cards that can help you save money on interest and enjoy greater financial flexibility.
1.
Citi® Diamond Preferred® Card
No Annual Fee: There’s no annual fee for this card, which helps keep costs low.
Extended Introductory Period: The long 0% APR period on balance transfers and purchases offers flexibility to pay down existing balances or finance new purchases without accumulating interest.
Access to Citi® Private Pass®: Exclusive access to presale tickets and VIP experiences for concerts, events, and more.
Flexible Balance Transfer Options: Transfer high-interest debt from other cards to consolidate and pay it off at a lower rate.
Citi® Diamond Preferred® CardCheck HereCiti® Diamond Preferred® Card - - 0% intro APR on balance transfers for 21 months (then 16.74% - 26.74% variable APR). No annual fee. Balance transfer fee: 5% or $5 , whichever is greater.
Pros
18-Month 0% Intro APR: The 18-month 0% APR on both purchases and balance transfers is an excellent benefit, giving you a long window to pay off balances without interest.- No Annual Fee: Keeps overall costs low for users who want to avoid extra charges.
- Exclusive Event Access: Citi® Private Pass® offers entertainment and event perks, adding value for those who enjoy concerts and special events.
- Longer APR Period: The extended intro period is ideal for making large purchases or transferring balances without feeling rushed.
Cons
Balance Transfer Fee: A 3% fee (or $5, whichever is greater) applies on balance transfers, which could add up if transferring a large balance.- No Rewards Program: Unlike other credit cards, the Citi® Diamond Preferred® Card doesn’t offer cashback or points for purchases.
- Higher APR After Intro Period: Once the 18-month introductory period ends, the regular APR can be relatively high for those who carry balances.
Key Features
No Annual Fee: No extra costs for using the card.
3% Balance Transfer Fee: A fee applies to balance transfers.
Citi® Private Pass® Access: Access to special events and ticket presales.
Long APR Period: One of the longest 0% APR offers for balance transfers and purchases.
Why Is Recommended
2.
Chase Slate® Credit Card
- Chase Slate® Credit CardCheck Here
Chase Slate® Credit Card - - 0% intro APR on balance transfers for 15 months (then 18.99% - 27.99% variable APR). No annual fee. Balance transfer fee: 5% or $5, whichever is greater.
3.
US Bank Visa® Platinum Card
- US Bank Visa® Platinum CardCheck Here
US Bank Visa® Platinum Card - - 0% intro APR on balance transfers for 20 billing cycles (then 14.99% - 24.99% variable APR). No annual fee. Balance transfer fee: 3% of the amount transferred.
4.
Wells Fargo Reflect® Card
The Wells Fargo Reflect® Card is a credit card that offers an introductory 0% APR on purchases and qualifying balance transfers for up to 21 months, making it a great option for those seeking to finance large purchases or manage existing debt. After the introductory period, a variable APR applies.
- Wells Fargo Reflect® CardCheck Here
Wells Fargo Reflect® Card - - 0% intro APR for up to 21 months on balance transfers (then 17.99% - 29.99% variable APR). No annual fee. Balance transfer fee: 3% for the first 120 days, then 5%.
Pros
- Long 0% APR period.
- Flexible balance transfer options.
- No annual fee.
Cons
- High balance transfer fees after the intro period.
- Limited rewards program (only 1% on purchases).
Key Features
Introductory Offer: 0% APR for 21 months on purchases and qualifying balance transfers (then, a variable APR of 18.99% - 26.99% applies).
Why Is Recommended
The Wells Fargo Reflect® Card is ideal for individuals seeking a long-term 0% APR offer for purchases or balance transfers, especially those who want to avoid annual fees. It helps with financial flexibility without additional costs in the first year and is a good choice for those with a clear plan to pay off their balance within the introductory period.
5.
BankAmericard® credit card
Low Ongoing APR: After the introductory period, the APR remains competitive, which is ideal for those who may carry a balance.
No Annual Fee: This card does not charge an annual fee, making it a cost-effective option for users who want to minimize fees.
Balance Transfer Option: The 0% APR on balance transfers (for the first 18 cycles) can help consolidate and reduce existing credit card debt.
Access to Online Banking Tools: Users can manage their account and payments through the Bank of America mobile app or website, offering convenient features like spending tracking and payment alerts.
- BankAmericard® credit cardCheck Here
BankAmericard® credit card - - 0% intro APR on balance transfers for 18 billing cycles (then 16.99% - 26.99% variable APR). No annual fee. Balance transfer fee: 3% of the amount transferred.
Pros
- 18-Month 0% APR: The introductory 0% APR period on both purchases and balance transfers is a strong feature for debt management and large purchases.
- No Annual Fee: Keep more of your money with no annual fee.
- Low Regular APR: Once the intro period ends, the APR is relatively low compared to many other cards.
- Access to Bank of America Services: Integration with other Bank of America products like checking and savings accounts can lead to additional benefits, like fee reductions or rewards.
Cons
- Balance Transfer Fee: A 3% fee (or $10, whichever is greater) applies to balance transfers, which can add up depending on the amount being transferred.
- No Rewards Program: Unlike other Bank of America cards, the BankAmericard® does not offer cashback or rewards for purchases.
- Higher APR After Introductory Period: While competitive, the regular APR may still be higher than some other low-rate cards.
Key Features
No Annual Fee: No additional cost to carry the card.
Low Ongoing APR: Competitive variable APR after the introductory period.
Balance Transfer Flexibility: Transfer balances from other cards to save on interest.
Access to Online and Mobile Tools: Convenient management via the Bank of America app.
Why Is Recommended
6.
American Express® Blue Cash Everyday® Card
- American Express® Blue Cash Everyday® CardCheck Here
American Express® Blue Cash Everyday® Card - - Provides 0% APR on purchases for the first 15 months, followed by a competitive APR. Earn cashback on groceries, gas, and select streaming services, all with no annual fee.
7.
PenFed Gold Visa® Card
Requires membership in PenFed Credit Union.
No Annual Fee: No cost for holding the card.
Lower APR: Competitive APR starting at 15.99%.
- PenFed Gold Visa® CardCheck Here
PenFed Gold Visa® Card - - 0% APR on balance transfers for 12 months (then 13.99% variable APR). No annual fee. Balance transfer fee: 3% of the amount transferred.
Pros
- Low APR.
- No annual fee.
- Solid cashback rate.
Cons
- Membership in PenFed required.
- Limited rewards for non-members.
Key Features
APR: 15.99% (variable).
Annual Fee: $0.
Deposit: Not required, but membership is.
Why Is Recommended
8.
BBVA Online Credit Card
- BBVA Online Credit CardCheck Here
BBVA Online Credit Card - - Offers a low APR with no annual fee and a simple structure for balance transfers, making it an excellent choice for those who want to reduce interest costs.
Conclusion
Low APR Credit Cards are a great option for individuals who need to manage balances over time while minimizing interest charges. Cards like the Citi® Diamond Preferred® Card and US Bank Visa® Platinum Card offer extended introductory APR periods, making them ideal for balance transfers and large purchases. For those who prefer a straightforward cash-back option, the Capital One® QuicksilverOne® and American Express® Blue Cash Everyday® Cards offer low APR along with valuable rewards. When selecting a low APR card, it's essential to consider not just the interest rate but also the card's other features like rewards, fees, and introductory offers. The best card for you will depend on your financial goals and spending habits.