10 Best Low Interest Credit Cards
10 Best Low Interest Credit Cards
Low Interest Credit Cards are ideal for individuals who often carry a balance or plan to make large purchases and need more time to pay them off. These cards come with a lower Annual Percentage Rate (APR), which reduces the interest you pay on your outstanding balances. With lower interest charges, you can save money over time, particularly if you tend to carry a balance month-to-month. Low interest cards are designed to make borrowing more affordable and give you the flexibility to repay without the pressure of high interest rates.
The key benefit of Low Interest Credit Cards is the reduced APR, allowing you to minimize the interest costs on your outstanding balance. Some cards even offer introductory 0% APR for purchases or balance transfers, providing an opportunity to pay off debt without incurring any interest for a certain period. Many of these cards also come with no annual fees, making them even more attractive. Below is a list of the 10 Best Low Interest Credit Cards available today, each offering valuable financial benefits to help you save money on interest payments.
1.
Chase Slate® Credit Card
Chase Slate® Credit CardCheck HereChase 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.
2.
Citi® Diamond Preferred® Card
The Citi® Diamond Preferred® Card is designed for consumers who want to manage large purchases or existing debt with a long 0% APR offer. It’s especially useful for people seeking to transfer high-interest balances and save money on interest over an extended period. The card offers a generous introductory APR period on both purchases and balance transfers, making it ideal for debt consolidation or making significant purchases without paying interest upfront.
0% Intro APR: Enjoy 0% APR on purchases and balance transfers for the first 18 months (then a variable APR applies). This can help you save on interest while you pay off debt or make big purchases.
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.
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 Here
Citi® 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
0% Intro APR for 18 Months: On both purchases and balance transfers.
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.
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
The Citi® Diamond Preferred® Card is ideal for people who need a long period to pay off debt or finance large purchases without paying interest. With an 18-month 0% APR on both purchases and balance transfers, it’s an excellent option for consolidating high-interest debt or making significant purchases with no interest charges. Its lack of an annual fee and access to exclusive event perks add further value. While it doesn’t offer rewards, the card’s focus on interest-free financing makes it highly recommended for those seeking simplicity and savings on interest.
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.
Discover it® Balance Transfer
The Discover it® Balance Transfer card is designed for individuals looking to consolidate and pay off high-interest credit card debt. It offers a long introductory 0% APR period on balance transfers, allowing cardholders to save on interest and pay down existing balances faster.
0% APR on Balance Transfers: Enjoy 0% introductory APR on balance transfers for the first 18 months. This can be a major benefit for people looking to pay off debt without accumulating high-interest charges.
Cashback Rewards: Earn 1% unlimited cashback on all purchases, and 5% cashback in rotating categories (such as gas, groceries, and dining) each quarter, on up to $1,500 in combined purchases (activation required).
No Annual Fee: There are no annual fees associated with this card, maximizing savings.
Cashback Match: At the end of the first year, Discover will match all the cashback you've earned, effectively doubling your rewards.
Flexible Payment Options: Free access to tools like the mobile app, which helps track your spending and manage payments effectively.
Cashback Rewards: Earn 1% unlimited cashback on all purchases, and 5% cashback in rotating categories (such as gas, groceries, and dining) each quarter, on up to $1,500 in combined purchases (activation required).
No Annual Fee: There are no annual fees associated with this card, maximizing savings.
Cashback Match: At the end of the first year, Discover will match all the cashback you've earned, effectively doubling your rewards.
Flexible Payment Options: Free access to tools like the mobile app, which helps track your spending and manage payments effectively.
- Discover it® Balance TransferCheck Here
Discover it® Balance Transfer - - 0% intro APR on balance transfers for 18 months (then 16.74% - 27.74% variable APR). No annual fee. Balance transfer fee: 3% of the amount transferred.
Pros
- Long 0% Intro APR: The 18-month 0% APR on balance transfers is a significant advantage for paying down debt without interest.
- Cashback Rewards: Earning cashback on purchases, plus a first-year match, is a great perk for users who also want to make everyday purchases while paying off their debt.
- No Annual Fee: Ideal for users who want to minimize costs.
- Helpful Tools: The Discover app and online tools help you track and manage your balance transfer and payments.
Cons
- Balance Transfer Fee: There is a 3% fee (or $5, whichever is greater) on each balance transfer, which could add up if transferring large amounts.
- Rotating Categories: While 5% cashback is generous, the rotating categories require activation and may not always align with your spending habits.
- No 0% APR on Purchases: This card offers 0% APR only on balance transfers, not on new purchases.
Key Features
0% APR on Balance Transfers for 18 Months: No interest on transferred balances for over a year.
1% Cashback on All Purchases: Unlimited cashback on everyday spending.
5% Cashback in Rotating Categories: Activate quarterly to earn higher rewards.
Cashback Match: Discover matches all cashback earned during the first year.
No Annual Fee: Keep more of your money.
1% Cashback on All Purchases: Unlimited cashback on everyday spending.
5% Cashback in Rotating Categories: Activate quarterly to earn higher rewards.
Cashback Match: Discover matches all cashback earned during the first year.
No Annual Fee: Keep more of your money.
Why Is Recommended
The Discover it® Balance Transfer card is highly recommended for people looking to pay off high-interest credit card debt while also earning cashback rewards on purchases. The 18-month 0% APR period on balance transfers provides substantial relief for those in debt. The card also offers valuable cashback benefits, including a first-year cashback match, making it a great all-around option for both debt consolidation and everyday spending.
5.
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.
6.
BankAmericard® credit card
The BankAmericard® Credit Card is a straightforward, no-frills credit card primarily designed for individuals seeking a low-interest option for everyday purchases. It offers a 0% introductory APR on purchases and balance transfers for the first 18 billing cycles, helping cardholders save on interest while paying down existing balances.
0% Introductory APR: Enjoy 0% APR on purchases and balance transfers for the first 18 billing cycles. After that, a variable APR applies.
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.
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
0% Intro APR for 18 Billing Cycles: On purchases and balance transfers.
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.
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
The BankAmericard® Credit Card is ideal for those looking for a simple, low-interest card with no annual fee. It’s especially beneficial for individuals who want to consolidate existing debt or make large purchases without paying interest for the first 18 months. Its lack of rewards means it's a more straightforward option for those focused on managing debt rather than earning perks. The combination of a long 0% APR intro period and no annual fee makes this card a solid choice for consumers seeking to reduce interest costs and simplify their finances.
7.
Capital One QuicksilverOne Cash Rewards Credit Card
- Capital One QuicksilverOne Cash Rewards Credit CardCheck Here
Capital One QuicksilverOne Cash Rewards Credit Card - - Offers 1.5% cashback on every purchase, with no annual fee. Ideal for individuals with bad credit looking to earn rewards while rebuilding their credit.
8.
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.
9.
PenFed Gold Visa® Card
A no-annual-fee credit card offering cash-back rewards.
Requires membership in PenFed Credit Union.
Requires membership in PenFed Credit Union.
Cashback: 1.5% cash back on every purchase.
No Annual Fee: No cost for holding the card.
Lower APR: Competitive APR starting at 15.99%.
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
Cashback: 1.5% on all purchases.
APR: 15.99% (variable).
Annual Fee: $0.
Deposit: Not required, but membership is.
APR: 15.99% (variable).
Annual Fee: $0.
Deposit: Not required, but membership is.
Why Is Recommended
For PenFed members, this card offers a great cashback rate and low APR. It's a good choice for those with a solid credit history looking for a no-annual-fee card.
Conclusion
Low Interest Credit Cards are an excellent way to save on interest payments, especially if you carry a balance month-to-month. Cards like the Citi® Diamond Preferred® Card and US Bank Visa® Platinum Card offer long 0% introductory APR periods, making them great for balance transfers or large purchases. For those who prefer cashback rewards, the Capital One® QuicksilverOne® and American Express® Blue Cash Everyday® Cards provide a low APR along with additional perks. Ultimately, the best low interest credit card for you will depend on your specific financial needs and spending habits. By choosing a card with a low APR and additional benefits, you can effectively manage debt while saving money on interest payments.