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Low Interest Credit Cards
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If you plan on carrying 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 help 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 right card for you.
Tip: If you consistently pay your balance in full each month, you should look at a rewards credit card instead. That way, you can earn cash back, free travel, or other perks.
What to Look For in a Low APR Card
There are a couple of things to consider:
An introductory period. Many credit cards offer a 0% introductory APR period, where there is no interest for new purchases or balance transfers during the promotional period. This is great if you have some large purchases coming up or if you have existing credit card debt This gives you time to pay off your balance interest-free.
Low ongoing APR. If you usually do not pay off your credit card bill in full each month, look for a card with a low ongoing APR. This will help minimize the amount of interest you pay in the long run.
What Credit Score Do You Need
Usually, you need a good to excellent credit score to qualify for low interest credit cards. This usually means a credit score of around 680 and higher. Though some cards have approved people with scores in the lower 600s. For the lowest interest rates, you usually need excellent credit.
Low Interest on Purchases
Chase Freedom Unlimited® lets you earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. You earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year. Earn 5% on travel purchased through Chase, 3% on dining at restaurants and drugstores, and 1.5% on all other purchases. There is also a 0% intro APR for 15 months from account opening on purchases, then a variable APR of 14.99-23.74%. The cash back rewards will not expire as long as your card account remains open. There is no annual fee.
Our Review: With a $200 cash back offer and no annual fee, does Chase Freedom Unlimited live up to the hype? Read this in-depth review to see how it stacks up... Read full review
Our Review: If you want a cash back credit card with the same rewards categories year-round, then consider the Blue Cash Everyday® Card from American Express. Read on for the pros and cons... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% on Purchases for 15 months
N/A
13.99% - 23.99% Variable
$0
BankAmericard® credit card offers a 0% intro APR for 18 billing cycles on purchases and balance transfers (made within 60 days of opening your account). After that, a variable APR of 12.99% - 22.99%. There is a 3% balance transfer fee (min $10). There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Introductory APR on purchases for 18 billing cycles
0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days
12.99% - 22.99% Variable APR on purchases and balance transfers
$0
HSBC Gold Mastercard® credit card offers a 0% Intro APR on purchases and balance transfers for the first 18 months from Account opening. Then a variable APR of 13.99% - 22.99% will apply. There is no penalty APR, no foreign transaction fees and no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Intro APR for 18 months
0% Intro APR for 18 months
Variable APR of 13.99% - 22.99% will apply after the Introductory Period
$0
Wells Fargo Platinum Visa card offers 0% intro APR for 18 months on purchases and balance transfers. After that, a 16.49%-24.49% variable APR. Balance transfer fees apply. There is a $0 annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 18 months
0% for 18 months on qualifying balance transfers
16.49% - 24.49% (Variable)
$0
Chase Slate offers a $0 intro balance transfer fee for the first 60 days your account is open. After that, the fee for future transactions is 5% of the amount transferred with a minimum of $5. This card has a 0% introductory APR for 15 months on purchases and balance transfers. After that, a variable APR, currently 14.99% to 23.74%. Plus, you can see your monthly FICO Score for free. There is a $0 annual fee.
Our Review: If you have credit card debt, Chase Slate's no balance transfer fee promotion and introductory APR offer is tempting. But is there a catch? Read this review before transferring your balance... Read full review
Earn a $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership.
Unlimited 1.5% Cash Back on your purchases.
Low intro APR: 0% for 15 months on purchases from the date of account opening, then a variable rate, currently 13.99% to 23.99%.
Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee.
Amex Offers rewards you at places you like to shop, dine, travel, and more. You can add as many Offers as you'd like to your Card, then just use that Card to pay, and enjoy rewards directly on your statement.
Cash Back is received in the form of Reward Dollars that can be redeemed for statement credits.
Our Review: American Express Cash Magnet® Card gives you unlimited 1.5% cash back on your purchases. Is it a good card? Read on to see how it stacks up... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% on purchases for 15 months
N/A
13.99% - 23.99% Variable
$0
Bank of America® Cash Rewards credit card offers $200 online cash rewards bonus if you spend at least $1,000 on purchases within the first 90 days of opening your account. This card earns 3% cash back in your choice category and 2% cash back at grocery stores and wholesale clubs (on up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). Earn 1% on other purchases. There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Introductory APR on purchases for 15 billing cycles
0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
13.99% - 23.99% Variable APR on purchases and balance transfers
$0
Amex EveryDay® Credit Card from American Express offers 10,000 Membership Rewards® points if you spend $1,000 on purchases within the first three months of opening your new card account. Enjoy a 0% intro APR for 15 months on purchases, then a variable rate, currently 12.99% to 23.99%.
This card earns 2x points at U.S. supermarkets (on up to $6,000/year in purchases, then 1x) and 1x points on other purchases. If you use your card 20 or more times on purchases in a billing period, you will earn 20% more points on those purchases (less returns and credits). There is no annual fee. Terms apply.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% on purchases for 15 months
N/A
12.99% - 23.99% Variable
$0
Wells Fargo Cash Wise Visa® card offers a $150 cash rewards bonus after you spend $500 within the first 3 months. This card earns 1.5% cash rewards on purchases. There is a 0% intro APR for 15 months on purchases and balance transfers. After that, a 14.49% - 24.99% variable APR. Balance transfer fees apply. There is a $0 annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 15 months
0% for 15 months on qualifying balance transfers
14.49% - 24.99% (Variable)
$0
Disclaimer: The information for the Chase Freedom Unlimited®, BankAmericard® credit card, HSBC Gold Mastercard® credit card, Wells Fargo Platinum Visa card, Chase Slate, Bank of America® Cash Rewards credit card, Amex EveryDay® Credit Card from American Express, and Wells Fargo Cash Wise Visa® card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.
Just starting out? The best credit cards for young adults have good rewards and benefits with low fees. Read this before you get your first credit card.
Applying for a card with a bonus or an introductory offer can be a great way to get a head start on earning rewards or to get a handle on your debt.
Low Interest on Balance Transfers
Citi Simplicity® Card offers a 0% intro APR on balance transfers for 21 months and 0% intro APR on purchases for 12 months. After that, a variable APR, currently 14.74% to 24.74% depending on your creditworthiness. There is a 5% balance transfer fee ($5 minimum). There are no late fees, no penalty rates and no annual fees.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0%* for 12 months*
0%* for 21 months*
14.74% - 24.74%* (Variable)
$0*
Citi Diamond Preferred® Card offers a 0% intro APR on balance transfers for 21 months and a 0% intro APR on purchases for 12 months. After that, a variable APR, currently 14.74% to 24.74% depending on your creditworthiness. There is a 5% balance transfer fee ($5 minimum). There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0%* for 12 months*
0%* for 21 months*
14.74% - 24.74%* (Variable)
$0*
BankAmericard® credit card offers a 0% intro APR for 18 billing cycles on purchases and balance transfers (made within 60 days of opening your account). After that, a variable APR of 12.99% - 22.99%. There is a 3% balance transfer fee (min $10). There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Introductory APR on purchases for 18 billing cycles
0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days
12.99% - 22.99% Variable APR on purchases and balance transfers
$0
Citi® Double Cash Card earn cash back twice on every purchase. You earn 1% cash back when you buy, and an additional 1% cash back as you pay for those purchases. There is no annual fee.
Our Review: With no annual fee and the opportunity to earn cash back twice, the Citi Double Cash card beats out many cashback credit cards. But are there catches? Read on for the full details... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
N/A
0%* for 18 months*
13.99% - 23.99%* (Variable)
$0*
HSBC Gold Mastercard® credit card offers a 0% Intro APR on purchases and balance transfers for the first 18 months from Account opening. Then a variable APR of 13.99% - 22.99% will apply. There is no penalty APR, no foreign transaction fees and no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Intro APR for 18 months
0% Intro APR for 18 months
Variable APR of 13.99% - 22.99% will apply after the Introductory Period
$0
Wells Fargo Platinum Visa card offers 0% intro APR for 18 months on purchases and balance transfers. After that, a 16.49%-24.49% variable APR. Balance transfer fees apply. There is a $0 annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 18 months
0% for 18 months on qualifying balance transfers
16.49% - 24.49% (Variable)
$0
Chase Slate offers a $0 intro balance transfer fee for the first 60 days your account is open. After that, the fee for future transactions is 5% of the amount transferred with a minimum of $5. This card has a 0% introductory APR for 15 months on purchases and balance transfers. After that, a variable APR, currently 14.99% to 23.74%. Plus, you can see your monthly FICO Score for free. There is a $0 annual fee.
Our Review: If you have credit card debt, Chase Slate's no balance transfer fee promotion and introductory APR offer is tempting. But is there a catch? Read this review before transferring your balance... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% for 15 months
0% for 15 months
14.99% - 23.74% Variable
$0
Bank of America® Cash Rewards credit card offers $200 online cash rewards bonus if you spend at least $1,000 on purchases within the first 90 days of opening your account. This card earns 3% cash back in your choice category and 2% cash back at grocery stores and wholesale clubs (on up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases). Earn 1% on other purchases. There is no annual fee.
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
0% Introductory APR on purchases for 15 billing cycles
0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
13.99% - 23.99% Variable APR on purchases and balance transfers
$0
Wells Fargo Cash Wise Visa® card offers a $150 cash rewards bonus after you spend $500 within the first 3 months. This card earns 1.5% cash rewards on purchases. There is a 0% intro APR for 15 months on purchases and balance transfers. After that, a 14.49% - 24.99% variable APR. Balance transfer fees apply. There is a $0 annual fee.
Patented black-PVD-coated metal card—weighing 22 grams.
2% value for airfare redemptions with no blackout dates or seat restrictions. 1.5% value for cash back redemptions. Earn one point for every one dollar spent.
24/7 Luxury Card Concierge®—available by phone, email and live mobile chat. Around-the-clock service to help you save time and manage tasks big and small.
Exclusive Luxury Card Travel® benefits—average value of $500 per stay (e.g., resort credits, room upgrades, free wifi, breakfast for two and more) at over 3,000 properties.
Annual Airline Credit—up to $100 in statement credits toward flight-related purchases including airline tickets, baggage fees, upgrades and more. Up to a $100 application fee credit for the cost of TSA Pre✓® or Global Entry.
Enrollment in Priority Pass™ Select with access to 1,300+ airport lounges worldwide with no guest limit. Includes credits at select airport restaurants for cardholder and one guest.
Cell phone protection for eligible claims of up to $1,000 each year. Plus additional World Elite Mastercard® benefits.
Annual Fee: $495 ($195 for each Authorized User). Terms and conditions apply.
Our Review: Does Mastercard® Black Card™ provide enough benefits to justify the steep annual fee? Read our in-depth review and find out the requirements to qualify... Read full review
Intro APR for Purchases
Intro APR for Balance Transfer
Regular APR
Annual Fee
N/A
0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening.
14.99% (Variable)
$495 ($195 for each Authorized User)
Disclaimer: The information for the Citi Simplicity® Card, Citi Diamond Preferred® Card, BankAmericard® credit card, Citi® Double Cash Card, HSBC Gold Mastercard® credit card, Wells Fargo Platinum Visa card, Chase Slate, Bank of America® Cash Rewards credit card, and Wells Fargo Cash Wise Visa® card has been collected independently by CreditDonkey. The card details on this page have not been reviewed or provided by the card issuer.
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 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 decrease your interest paid over time.
Estimate Your Balance Transfer Savings
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Enter the intro APR on Balance Transfers (Interest Rate):
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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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