10 Best No Annual Fee Low Interest Credit Cards

No Annual Fee Low Interest Credit Cards are designed to provide a balance of affordability and financial flexibility. These cards offer the benefit of low interest rates on outstanding balances while also waiving annual fees, making them an excellent option for those who want to avoid extra costs. These cards are perfect for individuals who typically carry a balance or want to make large purchases and pay them off over time without being hit with high interest charges.

The primary advantage of No Annual Fee Low Interest Credit Cards is the combination of saving money on both annual fees and interest. By eliminating the annual fee, cardholders can avoid a fixed yearly cost, while the low interest rate allows them to manage their debt more effectively. Many of these cards also come with additional perks like cashback on purchases or rewards points, making them even more attractive for those looking for financial flexibility. Below is a list of the10 Best No Annual Fee Low Interest Credit Cardsto consider in 2024.

1.

Chase Slate Edge℠

The Chase Slate Edge® credit card is designed for individuals looking to improve or maintain their credit scores while enjoying unique benefits on interest rates and credit line increases. You can find the card’s official information and application page on Chase’s website. Here’s a closer look at its benefits, pros, cons, and key features:

The Chase Slate Edge® offers features beneficial for cardholders focused on reducing debt and improving credit. Its introductory 0% APR on purchases and balance transfers for 18 months is a standout benefit, followed by a variable APR that starts at a competitive rate. This card also promotes responsible credit management by offering an annual automatic review for a potential credit line increase, making it an ideal choice for those with lower credit scores aiming to build credit. Additionally, cardholders can enjoy up to $600 in cell phone protection (with a $25 deductible) when they pay their phone bill with the card.

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    Chase Slate Edge℠

    Chase Slate Edge℠ - - This card offers 0% introductory APR on purchases for the first 18 months, with a low ongoing APR after that, and no annual fee.

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Pros

  • pros0% Intro APR: The introductory 0% APR on purchases and balance transfers for the first 18 months can save money for those looking to manage debt without additional interest.
  • prosAutomatic Credit Line Increase: Responsible usage can lead to an automatic annual review for a higher credit limit, helping to improve credit utilization rates.
  • prosNo Annual Fee: The card has no annual fee, making it cost-effective for those who want to keep credit-building expenses minimal.
  • prosCell Phone Protection: The added protection offers cardholders coverage for cell phone repairs or replacements, adding valuable benefits.

Cons

  • consLimited Rewards Program: Unlike some credit cards, the Chase Slate Edge® does not offer a rewards program for everyday purchases.
  • cons3% Balance Transfer Fee: A 3% fee on balance transfers applies during the introductory period, which might offset some of the savings.
  • consHigher Regular APR: After the introductory period, the regular APR is variable, and rates can be relatively high if not managed properly.

Key Features

0% APR on Purchases and Balance Transfers for 18 Months: An excellent option for those needing time to pay off debt.

Automatic Credit Line Increase Eligibility: Eligible for review after six months of responsible usage.

No Annual Fee: A budget-friendly option for credit builders.

Cell Phone Protection: Up to $600 coverage for theft or damage.

Why Is Recommended

The Chase Slate Edge® is recommended for individuals focused on managing and building credit effectively, especially if they prioritize low-cost features over rewards. Its 0% APR and no annual fee make it a budget-friendly choice, while the potential credit line increase and cell phone protection provide added value. Ideal for those looking to pay down debt or build credit without added costs.

2.

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.
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    BankAmericard® credit card

    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.

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Pros

  • pros18-Month 0% APR: The introductory 0% APR period on both purchases and balance transfers is a strong feature for debt management and large purchases.
  • prosNo Annual Fee: Keep more of your money with no annual fee.
  • prosLow Regular APR: Once the intro period ends, the APR is relatively low compared to many other cards.
  • prosAccess 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

  • consBalance Transfer Fee: A 3% fee (or $10, whichever is greater) applies to balance transfers, which can add up depending on the amount being transferred.
  • consNo Rewards Program: Unlike other Bank of America cards, the BankAmericard® does not offer cashback or rewards for purchases.
  • consHigher 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.

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.

3.

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.
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    Citi® Diamond Preferred® Card

    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.

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Pros

  • pros18-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.
  • prosNo Annual Fee: Keeps overall costs low for users who want to avoid extra charges.
  • prosExclusive Event Access: Citi® Private Pass® offers entertainment and event perks, adding value for those who enjoy concerts and special events.
  • prosLonger APR Period: The extended intro period is ideal for making large purchases or transferring balances without feeling rushed.

Cons

  • consBalance Transfer Fee: A 3% fee (or $5, whichever is greater) applies on balance transfers, which could add up if transferring a large balance.
  • consNo Rewards Program: Unlike other credit cards, the Citi® Diamond Preferred® Card doesn’t offer cashback or points for purchases.
  • consHigher 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.

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.

4.

Discover it® Cash Back

Cashback rewards on everyday purchases with no annual fee.
Reports to the credit bureaus to help build credit.
Cashback Rewards: 5% cashback in rotating categories (like groceries, gas, restaurants) and 1% on all other purchases.
First-Year Cashback Match: Discover will match all the cashback earned in the first year.
No Annual Fee: Enjoy all benefits without a yearly cost.
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    Discover it® Cash Back

    Discover it® Cash Back - - Offers 5% cashback on rotating categories and 1% on all other purchases, plus an introductory 0% APR for the first 15 months on purchases and balance transfers, with no annual fee.

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Pros

  • prosCashback match for the first year.
  • prosNo annual fee.
  • pros5% cashback on rotating categories.

Cons

  • consHigh APR (26.99%).
  • consCategories change every quarter.

Key Features

Cashback: 5% in rotating categories (up to $1,500) and 1% on other purchases.
APR: 26.99% (variable).
Annual Fee: $0.
Deposit: $200 minimum.

Why Is Recommended

This card offers significant cashback opportunities, especially if you can take advantage of rotating categories. Great for those with good credit who want to earn rewards.

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.

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    Wells Fargo Reflect® Card

    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%.

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Pros

  • prosLong 0% APR period.
  • prosFlexible balance transfer options.
  • prosNo annual fee.

Cons

  • consHigh balance transfer fees after the intro period.
  • consLimited 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.

US Bank Visa® Platinum Card

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    US Bank Visa® Platinum Card

    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.

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7.

Blue Cash Everyday® Card from American Express

A cashback credit card that offers rewards on everyday purchases.
Earns cashback on US supermarket, US gas station, and select department store purchases.
Cashback on Purchases: 3% cashback at US supermarkets (up to $6,000 annually), 2% at US gas stations and select department stores, and 1% on other purchases.
Intro Offer: Earn a $200 statement credit after spending $2,000 in the first 6 months.
No Annual Fee: Unlike many cashback cards, this one comes with no annual fee.
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    Blue Cash Everyday® Card from American Express

    Blue Cash Everyday® Card from American Express - - Earn 3% cash back on groceries (up to $6,000 per year), 2% on gas, and 1% on other purchases, plus 0% APR on purchases for the first 15 months, and no annual fee.

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Pros

  • prosGenerous cashback rates on key categories.
  • prosNo annual fee.
  • prosWelcome bonus.

Cons

  • consForeign transaction fees (2.7%).
  • consLimited 3% category (only supermarkets).
  • consRequires good credit for best approval.

Key Features

Cashback: 3% at US supermarkets (up to $6,000 per year), 2% at US gas stations, and 1% on other purchases.
APR: 19.24% – 27.24% variable.
Annual Fee: $0.
Bonus: $200 statement credit after spending $2,000 in the first 6 months.

Why Is Recommended

This card is ideal for individuals who frequently shop at supermarkets and gas stations and want to earn cashback without paying an annual fee.

8.

Capital One QuicksilverOne Cash Rewards Credit Card

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    Capital One QuicksilverOne Cash Rewards Credit Card

    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.

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9.

PenFed Gold Visa® Card

A no-annual-fee credit card offering cash-back rewards.
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%.
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    PenFed Gold Visa® Card

    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.

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Pros

  • prosLow APR.
  • prosNo annual fee.
  • prosSolid cashback rate.

Cons

  • consMembership in PenFed required.
  • consLimited 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.

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.

10.

BBVA Online Credit Card

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    BBVA Online Credit Card

    BBVA Online Credit Card - - Offers a low APR on purchases and balance transfers, with no annual fee. This card is ideal for individuals looking for a simple, cost-effective credit card.

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Conclusion

When it comes to choosing the best No Annual Fee Low Interest Credit Card, the ideal option depends on your financial habits and spending preferences. For those who need a long 0% APR period, cards like the Chase Slate Edge℠ and Citi ® Diamond Preferred® Card offer extended introductory periods. Meanwhile, for cashback rewards, the Discover it® Cash Back and Blue Cash Everyday® Card from American Express stand out. If you're looking for simplicity and low ongoing costs, options like the PenFed Gold Visa® Card or BBVA Online Credit Card are great choices. Regardless of your choice, these cards provide an excellent opportunity to save money on both fees and interest while offering valuable perks to suit various needs.

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