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Every month, you open your credit card statement with a sense of unease. Most months, you can pay your card off in full, but there are some months when money is tight. Maybe you’ve had to pay the minimum due and incur interest charges for a month or two…or perhaps you have several hundred dollars—or more—of credit card debt that you’re trying to pay off.
If this sounds familiar, a low-interest credit card is an option that can give you some breathing room in the months when you need a bit of flexibility.
In this article, we’ll cover low-interest credit cards from several issuers to help you find a card that fits into your financial life.
Best Low Interest Rate Credit Cards: Summary
- Best for good credit: card_name
- Best for cash back on everyday purchases: card_name
- Best for building credit: card_name
- Best for small business owners: card_name
- Best credit union card: Wings Financial Visa Platinum Credit Card
Why we recommend these low interest credit cards
Best for good credit: card_name
Citi® Diamond Preferred® Card
Citi® Diamond Preferred® Card
Welcome offer: bonus_miles_full
Card details: Here are the details of the card_name:
Why we recommend it: If your credit isn’t excellent, it may be difficult to find a card with a compelling 0% interest rate. But Citi offers an option for you with the card_name. Like the card_name, the card_name offers a balance_transfer_intro_apr,balance_transfer_intro_duration.
The downsides of the card_name are its higher balance transfer fee (balance_transfer_fees) and the fact that the card doesn’t earn rewards. You can keep the card open after you finish paying off your balance to help improve your credit score, but there is little reason to continue using the card after the balance transfer promotional period ends.
Read our full review to learn more.
Best for cash back on everyday purchases: card_name
Blue Cash Everyday® Card from American Express
Blue Cash Everyday® Card from American Express
Perhaps groceries and gas make up a large portion of your budget and you’d prefer a 0% APR on a card that offers more rewards where you spend the most. That’s where the card_name can provide a little additional utility to your wallet.
Welcome offer: bonus_miles_full
Card details: Here are the details on the balance transfer offer and rewards of the Blue Cash Everyday Card:
intro_apr_rate,intro_apr_duration (Rates & Fees).
balance_transfer_intro_apr,balance_transfer_intro_duration (Rates & Fees).
balance_transfer_fees balance transfer fee (Rates & Fees).
3% cash back at U.S. supermarkets (up to $6,000 per year; then 1%).
3% cash back on U.S . online retailers (up to $6,000 per year; then 1%).
3% cash back at U.S. gas stations (up to $6,000 per year; then 1%).
Terms & Restrictions Apply.
annual_fees annual fee (Rates & Fees).
Why we recommend it: This Amex card offers 3% cash back on your first $6,000 of spending in each of its bonus categories: U.S. supermarkets, U.S. online retailers, and U.S. gas stations. Since the 0% APR applies to both purchases and balance transfers, you can earn rewards while paying down your transferred balance.
Read our full review to learn more.
Best for building credit: card_name
Chase Slate Edge
Chase Slate Edge
Welcome offer: bonus_miles_full
Card details: Here are the details of the balance transfer offer and interest rate reductions available with the Chase Slate Edge:
- intro_apr_rate,intro_apr_duration.
- balance_transfer_intro_apr,balance_transfer_intro_duration.
- Automatic regular APR reductions when you pay on time and spend $1,000 on the card.
- Automatic one-time review for a higher credit limit when you spend $500 in the first six months and pay on time.
- balance_transfer_fees for balance transfers made within 60 days.
- annual_fees annual fee.
Why we recommend it: If you need a card that can help you manage your balance transfers and build credit, the card_name can help you do both. In addition to an balance_transfer_intro_apr,balance_transfer_intro_duration, the card_name offers an automatic one-time review for a higher credit limit when you pay your card on time and spend $500 in your first six months.
The card also offers automatic interest rate reductions. Every year you spend at least $1,000 on the card and pay on time, Chase will decrease your ongoing interest rate until it reaches the prime rate, plus 9.74%.
Read our full review to learn more.
Best for small business owners: card_name
The Plum CardR from American Express
The Plum CardR from American Express
Welcome offer: bonus_miles_full
Card details: Here are the details of the American Express Plum Card:
- No interest on purchases for 60 days after your statement closing date when you pay the minimum payment by your payment due date.
- 1.5% early pay discount when you pay within 10 days of your statement closing date (Rates & Fees).
- 1.5% (minimum $39) fee for late payments. This fee increases to 2.99% (minimum $39) if you make a late payment two months in a row (Rates & Fees).
- Terms & Restrictions Apply.
- annual_fees annual fee (Rates & Fees).
Why we recommend it: If your objective as a small business owner is to use a card to get a little extra time to pay for your purchases, the card_name might be the tool you need. As long as you pay your minimum payment by your due date, you can get 60 days from your statement closing date to pay for your purchases, interest free.
Unlike traditional credit cards, the card_name is a pay-as-you-go card and it does not charge a traditional interest rate. If you go beyond 60 days to pay or miss a minimum payment, you’ll pay a 1.5% (minimum $39) penalty fee each month. If you do not pay for two billing periods in a row, this fee increases to 2.99% (minimum $39).
Best credit union card: Wings Financial Visa Platinum Credit Card
Wings Financial Visa Platinum Credit Card
Wings Financial Visa Platinum Credit Card
Welcome offer: None.
Card details: Here are the details of the Wings Financial Visa Platinum Credit Card
- 0% introductory APR for 12 months on purchases and balance transfers.
- No balance transfer fees.
- 12.90% to 18.00% ongoing variable APR.
- No annual fee.
Why we recommend it: The best ongoing interest rates on credit cards will usually be found at credit unions. Unlike most banks, credit unions are member-owned co-ops that traditionally offer lower interest rates on loan products to their members. Wings Financial offers its Visa Platinum Credit Card with a 12.90% to 18.00% ongoing variable APR, a range unmatched by the large national banks.
To bank at a credit union, you must become a member and not every credit union offers membership to everyone. Credit unions usually require you to live within the bank’s footprint, have an industry affiliation, or make a contribution to a foundation to become a member. Wings Financial Membership is available if you work or live nearby its branch locations, if you work in the aviation industry, or if you make a $5 contribution to the Wings Financial Foundation. This means that Wings Financial is an option for anyone, nationwide.
Best low interest credit cards comparison chart
| Card | Intro offer | Annual fee | Minimum credit required | Bonus rewards |
|---|---|---|---|---|
intro_apr_rate,intro_apr_duration | annual_fees | credit_score_needed | bonus_miles | |
intro_apr_rate,intro_apr_duration | annual_fees | credit_score_needed | bonus_miles | |
intro_apr_rate,intro_apr_duration | annual_fees | credit_score_needed | bonus_miles | |
intro_apr_rate,intro_apr_duration | annual_fees | credit_score_needed | bonus_miles | |
0% intro APR for 12 months on balance transfers and purchases | $0 | N/A | N/A |
Our methodology
To pick the best low-interest credit card, we considered the priorities of someone looking to use a promotional balance transfer offer to consolidate credit card debt. If that’s you, you probably want the longest balance transfer period possible and want to pay as little in fees as possible. It would be nice to have a credit card that you can use for ongoing purchases, but rewards are probably a secondary consideration.
TIME Stamp: look for the best combination of features
The card_name offers both a intro_apr_rate,intro_apr_duration and a path for all cardmembers to a reg_apr,reg_apr_type interest rate, an interest rate normally reserved for those with the highest credit scores—this combination makes it an attractive option if you’ve got a little bit of credit card debt to pay off and want a card that you can occasionally use to float a balance.
For rates and fees of the card_name, please visit this URL.
For rates and fees of the card_name, please visit this URL.
Frequently asked questions (FAQs)
Are low interest credit cards worth it (pros and cons)?
If you are carrying credit card debt, low interest credit cards are a smart choice. Seeking a lower interest rate will almost always work to your advantage when compared with going after greater credit card rewards.
Can I negotiate my interest rate on a credit card?
You can try to negotiate the interest rate on your credit card by calling your card issuer. While there are no guarantees, a bank is more likely to give you a break on interest or offer you a promotional rate if you have a history of on-time payments and a strong credit score.
What causes interest rates on credit cards to change?
Credit card interest rates vary based on the prime rate, a publicly published interest rate that banks use to set various interest rates. The prime rate reflects market interest rates and the cost of lending money.
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