Credit card offers often hype special signup deals and exclusive perks. However, consumers who need to carry a monthly balance need to seek out the best low interest credit cards they can find. That usually means trading off rewards, rebates and other privileges in exchange for finance charges that won't break the bank.
Low interest credit cards don't look flashy, often including words like "basic" or "simple" in their titles. If you often carry a few thousand dollars in household credit card debt, switching to a card with an APR of 10 percent or less could save you hundreds of dollars every year.
- 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
- $100 cash back after $500 in purchases within the first 3 months of account opening
- 0% Intro APR on Balance Transfers and Purchases for 12 months. After that, the APR will be 12.99%-22.99% variable based on your creditworthiness*
- Earn 5% cash back from Citi at Home Depot, Home furnishing stores and home and garden stores between 4/1/13 and 6/30/13, with enrollment
- 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.
- Created for those with Excellent Credit and approval is based on your credit rating and application review.
- Low 7.25% variable standard purchase APR and platinum benefits
- No balance transfer fee for balances transferred in response to this online offer
- 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
- 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.*
- 5% cash back on gas purchases paid at the pump**
- 0.25% cash back on all other purchases**
- No caps, limits or tiers on rewards
- Earn up to 17,000 bonus points in the first year of account ownership. An initial bonus of 5,000 points will be awarded with your first purchase and an additional bonus of 1,000 each month purchases of $250.00 or more are made in the first 12 months of account ownership. 1 bonus point for every $1 in qualifying net retail purchases will be earned outside of the initial bonus offer. Rewards can be redeemed with as little as 700 bonus points.
- Earn 1 bonus point for every $1 in qualifying net retail purchases in addition to and outside the initial bonus. You can ScoreMore with Bonus Points - 2X, 3X, 4X or more at participating retailers online and in-store. Turn your points into hotel, gift or experience rewards with as little as 700 bonus points.
- No annual membership fee
- No annual membership fee
- 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 your first 6 billing cycles, this rate will not change during the introductory period. Applies to balance transfers processed within three months of your account open date. After that, your APR will be the same as your assigned purchase rate, based on your creditworthiness. This APR will vary with the market based on the Prime Rate.
- Introductory APR on Purchases of 0.00% or 7.50% for 12 months from date opened. (If there is an interest charge, the charge will be no less than $0.50). This rate will not change during the introductory period.
- Low Introductory APR on Balance Transfers of 1.99% or 7.50% for the first 12 billing cycles, this rate will not change during the introductory period. Applies to balance transfers processed within three months of your account open date. After that, your APR will be the same as your assigned purchase rate, based on your creditworthiness. This APR will vary with the market based on the Prime Rate.
- Low Ongoing Variable Rate APR, after introductory period, APR of 7.50%, 9.50%, or 11.50% (Prime + 4.25%, Prime + 6.25%, or Prime + 8.25%) based on your creditworthiness. This APR will vary with the market based on the Prime Rate. (If there is an interest charge, the charge will be no less than $0.50).
- Low variable rate of 9.25%, 12.25%, or 15.25% (Prime + 6.00%, Prime + 9.00%, or Prime + 12.00%) based on your creditworthiness. This APR will vary with the market based on the Prime Rate. (If there is an interest charge, the charge will be no less than $0.50).
- Low Introductory APR on Balance Transfers of 1.99% for the first 6 billing cycles, this rate will not change during the introductory period. Applies to balance transfers processed within three months of your account open date. After that, your APR will be the same as your assigned purchase rate, based on your creditworthiness. This APR will vary with the market based on the Prime Rate.
- Enjoy 0% Intro APR on Balance Transfers and Purchases for 15 months. After that, the variable APR will be 12.99% - 22.99% based upon your creditworthiness*
- Earn 1 ThankYou Point for every $1 you spend on purchases.
- Enjoy no limit on the number of points you can earn
Disclaimer:*These quotes are from credit card issuers which have paid for a link to their website. Offers are subject to change without notice and may not be the same for all consumers.
This content is not provided or commissioned by American Express. Opinions expressed here are author's alone, not those of American Express, and have not been reviewed, approved or otherwise endorsed by American Express. This site may be compensated through American Express Affiliate Program.
Discover is a paid advertiser of this site. Reasonable efforts are made to maintain accurate information. See the Discover online credit card application for full terms and conditions on offers and rewards.
Find the Best Low Interest / Low APR Credit Card
Low interest cards help you pay off your credit card debt
Even though low-interest credit cards get tagged as "no-frills," frugal consumers know how to use them to pay down debt quickly. Let's look at a quick example.
Let's assume you've got $250 per month to put toward your credit card bills. Transferring a balance of $10,000 to a 0% APR credit card with a 12-month promotional period may look like a money-saving move. However, after the first year, you'll have paid only $3,000, leaving $7,000 on the new card. That's when your 20 percent "go-to rate" kicks in, meaning you'll spend another 39 months and $2,500 in interest clearing your bill.
But if instead you put that $10,000 on a low-interest credit card with an APR under 10 percent and pay $250 per month, you'll save over $300 on your interest while clearing your debt two months sooner. If you've been unable to qualify for a zero-interest credit card, or you don't think you'll be able to pay it off by the end of the promotional period, a low-interest card may be your best option.
Not just the "generic" of credit cards
If you've ever bought store-brand items at your neighborhood supermarket, you already know that you don't always have to sacrifice quality for price. Your "no frills" card may not look flashy, but it will still work great as a tool to help you spend and save wisely.
Low-interest credit cards still carry plenty of perks and protections, especially for cardholders who use them to make routine purchases every month. Without being tied to a promotional offer, a long-term, low-interest account won't penalize you as harshly if you happen to make a late payment. In fact, some recent ad campaigns have announced low-interest credit cards that offer no late payment or over-limit fees at all, emphasizing their simplicity and flexibility.
A basic credit card for emergencies
Simple and flexible credit cards also work well for families who want an available line of credit without the hassles of annual fees or service charges. Unexpected medical bills, auto repairs and appliance replacements that would normally put stress on a working household can float for a short time on a low-interest credit card.
You can even protect your family from paying for damage or theft of your valuables purchased with a basic credit card. Many credit card companies offer purchase protection programs that can either replace broken or stolen goods, or even cover some of the repair costs after a break-in or an accident.
Finding the best low-interest credit cards online
Looking for the best credit cards means understanding the benefits that would serve you and your family the best. Today's credit card offers have become so customized that it's possible to negotiate just about any element of a new account. Your low-interest rate might come with a lower credit limit and few rewards, but with no annual fee. And the better your credit score, the lower your finance charges will go. As credit card companies mine consumer databases to generate pre-approval offers, you may even find a low-interest card already waiting for you at one of the country's leading lenders.
