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If you will carry 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 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 best card for you.
But if you consistently pay your balance in full each month, look at a rewards credit card instead. That way, you can earn cash back, free travel, or other items.
Cash Back Rewards
Do you want to earn rewards and have an introductory low interest rate? The Discover it™ - 18 Month Balance Transfer card offers an introductory 0% APR on balance transfers for 18 months, an introductory 0% APR on purchases for 6 months and a generous rewards program.
The new Discover it card is out to change the way people think about credit cards.
Fair...No annual fee. No overlimit fee. No foreign transaction fee & no pay-by-phone fee. No late fee on your first late payment. And we won't increase your APR for paying late.*
Generous...5% Cashback Bonus on up to $1,500 in purchases at Home Improvement Stores now through June with free and easy sign-up. And 1% cash back on all other purchases.*
Plus a Cashback Concierge(SM) who guides a free, personalized online tour to help you get the most rewards for how you use your card.
Flexible...Choose your own due date and pay up to midnight ET online or by phone.
Human...talk to a real person any time with 100% U.S.-based service.
0% Intro APR* on balance transfers for 18 months. Then the variable purchase APR applies, currently 10.99% - 22.99%.
0% Intro APR* on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% - 22.99%. *Click apply for Terms & Conditions.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 6 months
0% for 18 months
10.99% - 22.99% (Variable)
$0
No Annual Fees & No Late Fees
Are you tired of late fees? While we encourage you to pay on time consistently, the Citi Simplicity has no late fees.
0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 12.99% - 21.99% 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.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 18 months
0% for 18 months
12.99% - 21.99% (Variable)
$0
Low 8% Variable APR on Balance Transfers and Purchases
If you have excellent credit, consider the Barclaycard Ring MasterCard. The card offers no annual fee, no balance transfer fees and a low 8% variable APR.
A low 8% variable APR on balance transfers and purchases
No Annual Fees
No Balance Transfer Fees - start saving immediately!
Choose your card benefits and features
Get rewarded through the new Giveback™ program, where Barclaycard Ring members get money back for good performance
Get exclusive access to our online community and vote on the card features you like and view the financials of the Barclaycard Ring MasterCard online
Learn more about personal finance from Barclaycard and other members
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
N/A
N/A
8% (Variable)
$0
To learn how you can minimize interest expense and save money in the long run, read our guide on the Power of the Extra Dollar.
Disclaimer: This content is not provided or commissioned by the company whose products are featured on this site. Any opinions, analyses, reviews or evaluations provided here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Advertiser. This site may be compensated through the Advertiser's affiliate programs.
Disclaimer: Discover is a paid advertiser of CreditDonkey.
Excellent Credit Required - Applicants that do not have excellent credit will not be approved
Low 7.25% variable standard purchase APR and platinum benefits
No balance transfer fee for balances transferred in response to this online offer
No Annual Fee
Our Review: A high interest rate on your credit card makes it very difficult to pay off your account balance. This is because more of your monthly payment goes towards paying off monthly interest leaving less money to pay off your purchases. The Simmons First Visa Platinum helps solve this problem by offering one of the lowest interest rates in today’s market. This is a great no-frills card for people looking to pay as little interest as possible. To keep its rates low, Simmons only accepts applicants ..... Read full review
A low 8% variable APR on balance transfers and purchases
No Annual Fees
No Balance Transfer Fees - start saving immediately!
Choose your card benefits and features
Get rewarded through the new Giveback™ program, where Barclaycard Ring members get money back for good performance
Get exclusive access to our online community and vote on the card features you like and view the financials of the Barclaycard Ring MasterCard online
Learn more about personal finance from Barclaycard and other members
Our Review: With a low 8% variable APR on purchases, a community-driven approach to card benefits and a community-based formula for rewards, the Barclaycard Ring might be the world's best social credit card. The novel, community-driven approach allows cardholders to vote on what benefits or features they want and share in the estimated profit of the community's financial performance... Read full review
Excellent Credit Required - Applicants that do not have excellent credit will not be approved
Low 9.25% variable standard purchase APR and platinum benefits
No balance transfer fee for balances transferred in response to this online offer
Travel Rewards - cardholders who enroll in the program receive one point per net dollar spent
Choose any U.S. based airline or ticket class. No blackout dates or seating restrictions
Other travel related options are hotels, cruises, vacation packages, car rental, and restaurants
No Annual Fee
Our Review: The Simmons First Visa Platinum Rewards is a nice combination of low fees plus rewards. It has a low 9.25% variable interest rate. However, you don’t need to give up rewards to get this low rate as this card earns travel points on all your purchases. This great combo comes at a cost though, because only applicants with excellent credit will be approved for this card... Read full review
Low variable rate of 7.25%, 10.25%, or 13.25% based on the creditworthiness. This APR will vary with the market based on the Prime Rate.
Low Introductory APR on Balance Transfers of 1.99% for 6 billing cycles. After that, your APR will be the same as your assigned purchase rate, based on your creditworthiness.
Online access to credit card account information
Our Review: If you are looking for a simple and inexpensive credit card, consider the Iberiabank Visa Classic card. It doesn’t have an annual fee and charges a low interest rate on purchases. This low rate makes it easier to pay down you card balance because you spend less per month on interest and more on paying off your card. If you keep a balance on your credit cards and want to cut down your interest rate, the Iberiabank Visa Classic Card is a solid choice... Read full review
0% Intro APR* on purchases and balance transfers for 15 billing cycles. After that, a variable APR currently 9.99%-23.99%
No annual fee*
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
Our Review: With free access to your monthly credit score and no annual fee, the US Bank Platinum Visa Card is a good choice for those who plan to carry a balance. The lack of rewards makes it less than ideal for those who don't carry a balance. However, if you’re paying down some debt, the 0% intro APR and low regular APR make this card the way to go... Read full review
The new Discover it card is out to change the way people think about credit cards.
Fair...No annual fee. No overlimit fee. No foreign transaction fee & no pay-by-phone fee. No late fee on your first late payment. And we won't increase your APR for paying late.*
Generous...5% Cashback Bonus on up to $1,500 in purchases at Home Improvement Stores now through June with free and easy sign-up. And 1% cash back on all other purchases.*
Plus a Cashback Concierge(SM) who guides a free, personalized online tour to help you get the most rewards for how you use your card.
Flexible...Choose your own due date and pay up to midnight ET online or by phone.
Human...talk to a real person any time with 100% U.S.-based service.
0% Intro APR* on balance transfers for 18 months. Then the variable purchase APR applies, currently 10.99% - 22.99%.
0% Intro APR* on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% - 22.99%. *Click apply for Terms & Conditions.
Our Review: A generous cash back and 18-month balance transfer offer makes the Discover It Card the go-to card to keep more money in your pocket. When you consider the rewards, low fees, and good customer service, it’s pretty easy to see why Discover It is one of the most popular cash back credit cards available... Read full review
Get 0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the APR will be 11.99%-21.99% based upon your creditworthiness.*
There is a balance transfer fee of either $5 or 3% of the amount of each transfer.
Citi® Price Rewind searches for a lower price. Learn how you can get lower price after you purchase an item.
Let our 24/7 concierge service help book your hotel rooms, flights and more.
Enjoy special access to presale tickets, preferred seating, VIP packages, and unique entertainment experiences through Citi Private Pass®.
$0 liability on unauthorized purchases and Citi® Identity Theft Solutions
No annual fee*
Our Review: With its 18-month 0% APR on purchases and balance transfers, the Citi Diamond Preferred Card is a great pick for people who carry a balance. While this card does offer a few other benefits, such as a concierge service and price protection, its main attraction is its introductory APR... Read full review
0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 12.99% - 21.99% 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.
Our Review: By not charging for late payments or over-limit spending, the Citi Simplicity Card gives cardholders some breathing room when it comes to managing their credit. Plus, with an 18-month 0% introductory APR and a straightforward single rate for purchases, balance transfers, and cash advances, this card is a smart pick for people who carry a balance. In exchange for this flexibility, the Citi Simplicity Card does not have a rewards program... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 18 months
0% for 18 months
12.99% - 21.99% (Variable)
$0
Disclaimer: This content is not provided or commissioned by the company whose products are featured on this site. Any opinions, analyses, reviews or evaluations provided here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Advertiser. This site may be compensated through the Advertiser's affiliate programs.
Disclaimer: Discover is a paid advertiser of CreditDonkey.
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 to 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 cut 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
$
%
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.
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