Writer: Brittney Mayer
Editor: Lillian Guevara-Castro
Reviewer: Ashley Fricker
Let’s talk about cheap credit cards — that is — cards with low interest rates and no fees. When you think about it, fees are a lot like the ninjas of the credit card world. They’re excellent at hiding, they can sneak up on you when you least expect it — and they can cost you a limb if you’re not careful. But while ninjas are notoriously difficult to best, most credit card fees can be defeated simply by choosing the right card (and using it wisely).
The key to minimizing the costs of your credit card is to select a cheap card to begin with. This means choosing a card with a low APR to avoid high interest fees if you’re prone to carrying a balance, or keeping a low (or, better, $0) balance on a card with no annual or service fees to avoid extra costs altogether. Let’s take a look at some of our top choices for credit cards on the market today that feature low APR offers and no fees.
Compare the Best “Low APR” Credit Cards
Unlike one-and-done annual and service fees, interest rate charges aren’t temporary house guests; every billing cycle you carry a balance can mean more interest fees added to the pile. And while you can avoid interest charges by paying off your balance during the card’s grace period (i.e., before your due date), it simply isn’t an option for every cardholder on every statement.
Thankfully, there are ways to skip the interest fees — or, at least, minimize them — with the right credit card. Whether you have a big purchase coming up, want a lower rate on a balance you already carry, or just want a card that always offers a low APR, you can find a way to cut your credit card interest costs.
Intro-APR New Purchases | Intro-APR Balance Transfers | Low Ongoing APR
Best Credit Cards with 0% Intro-APR on New Purchases
Credit cards can be a fantastic way to make a big purchase, both because of the ease of use — no bulky stacks of cash to carry to and fro — and the awesome rewards you can earn. What’s less fantastic are the high interest charges that big purchase can accrue if you fail to pay off your balance before the end of your billing cycle. That’s where introductory 0% APR credit card offers can save you a bundle.
Though the best intro-APR credit card offers will require good to excellent credit to qualify, they can provide up to 18 months of interest-free financing. Plus, you’ll still earn rewards on all of your eligible new purchases. Many of our favorite intro-APR new purchase deals, such as the ones listed below, also come free from annual fees, making them truly cheap credit cards.
Additional Disclosure: Bank of America is a CardRates advertiser.
- $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Earn 6% cash back for the first year in the category of your choice. You’ll automatically earn 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. After the first year from account opening, you’ll earn 3% cash back on purchases in your choice category.
- Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the 3% first-year bonus offer ends, you will earn 3% and 2% cash back on these purchases up to the quarterly maximum.
- No annual fee and cash rewards don’t expire as long as your account remains open.
- Turn daily purchases into everyday wins. Simply use your Customized Cash Rewards credit card for the things you already buy - from gifts to groceries - BofA Rewards™ members earn more cash back.
- 0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 17.49% - 27.49% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 5%. Balance transfers may not be used to pay any account provided by Bank of America.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
- Earn 20,000 bonus Points after spending $1,000 in the first 3 months of account opening.
- 0% Intro APR on balance transfers and purchases for 15 months; after that, the variable APR will be 18.49% - 28.49%, based on your creditworthiness. There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- Earn 3 ThankYou® Points for each $1 spent in an eligible Self-Select Category of your choice (Fitness Clubs, Select Streaming Services, Live Entertainment, Cosmetic Stores/Barber Shops/Hair Salons, or Pet Supply Stores). Choose your eligible Self-Select Category on Citi Online or by calling customer service. The default Self-Select Category is Select Streaming Services.
- Earn 5 ThankYou® Points for each $1 spent on Hotels, Car Rentals and Attractions booked on Citi Travel® via cititravel.com; earn 3 ThankYou Points for each $1 spent at Supermarkets, on Select Transit purchases, and at Gas & EV Charging Stations.
- Earn 2 ThankYou® Points for each $1 spent at Restaurants; earn 1 ThankYou® Point for each $1 spent on All Other Purchases.
- No Annual Fee
Additional Disclosure: Citi is a CardRates advertiser.
+See More Intro-APR New Purchases Credit Cards
An important thing to remember about introductory-APR deals is the “introductory” part. Once your promotional period expires, your purchase APR will revert to the default APR, which can be found in the cardholder agreement. Be sure to pay off your new purchases before the end of your intro-APR period to avoid being charged interest on those purchases. And go ahead and set a calendar alert on your smartphone or in your email to remind when that introductory rate is set to expire, just to be on the safe side.
Best Credit Cards with 0% Intro-APR on Balance Transfers
While lower-APR credit cards are certainly out there (several are listed in the next section, in fact), cards with high APRs are just as — if not more — abundant in the modern marketplace. Whether you had poor credit once upon a time, are paying a penalty APR for an old mistake, or otherwise got trapped with a high-interest credit card, you may have a way out: an introductory 0% APR balance transfer deal.
The best intro-APR balance transfer credit card deals last 15 months or more, during which time you’ll pay no interest on eligible transferred balances. Although most credit cards will charge a balance transfer fee to transfer a balance onto that card, our list of top-rated balance transfer cards includes a fee-free option.
Additional Disclosure: Bank of America is a CardRates advertiser.
- 0% Intro APR on balance transfers for 21 months and on purchases for 12 months from date of account opening. After that the variable APR will be 16.49% - 27.24%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
- No Annual Fee - our low intro rates and all the benefits don't come with a yearly charge.
- Buy now and pay later. Split your payment for eligible purchases of $75 or more into a fixed payment with Citi® Flex Pay.
- Get free access to your FICO® Score online.
Additional Disclosure: Citi is a CardRates advertiser.
- 0% Intro APR for 21 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 14.99% - 25.99% will apply. A 5% fee applies to all balance transfers. Balance transfers may not be used to pay any account provided by Bank of America.
- No annual fee.
- No penalty APR. Paying late won't automatically raise your interest rate (APR). Other account pricing and terms apply.
- When handled responsibly, a credit card can help you build your credit history, which could be helpful when looking for an apartment, a car loan, and even a job.
- This offer may not be available elsewhere if you leave this page. You can take advantage of this offer when you apply now.
Additional Disclosure: Bank of America is a CardRates advertiser.
+See More Intro-APR Balance Transfer Credit Cards
There are a few things to note when it comes to balance transfers, starting with the fact that you won’t earn rewards on transferred balances; only new purchases typically earn rewards. Additionally, balance transfers aren’t subject to the new purchase grace period that allows you to avoid interest fees. This means your transferred balance can start accruing interest right away if you don’t have an intro-APR deal.
Best Credit Cards with Low Ongoing APRs
For all that intro-APR offers can save cardholders tons of money in interest fees, they are, by nature, temporary deals. Once your introductory period expires, you’ll be charged the default interest rate for that purchase type, be it new purchases or transferred balances. If you’re prone to carrying balances over the long term, you may fare best with a credit card that offers a low ongoing APR.
The APR you are offered for a specific card depends on your credit score and the card’s available APR range. Those with the best credit scores will be offered the lowest interest rates, but you can skew the odds in your favor by applying for a card with a low APR range in the first place. Our favorite low-APR cards offer rates as low as 11.99% to qualified applicants.
+See More Low Ongoing APR Credit Cards
Since your credit score is the major factor that decides your interest rates, the best way to get better (read: lower) rates, is to improve your credit score. Depending on your initial score, something as simple as paying down current credit card balances could lead to a credit score increase and allow you to get a lower interest rate.
Compare the Best “No Fee” Credit Cards
Of course, even if you diligently pay your balances and make use of introductory-APR offers to eliminate interest charges, you aren’t out of the proverbial fire. There are plenty more credit card fees waiting to inflate the cost of your card, including annual maintenance fees, as well as service fees for using specific features of your card.
However, just as you can avoid interest fees with the right card and a little diligence, so, too, can you reduce — or even eliminate — the myriad other fees that turn a cheap credit card into a costly one. And that doesn’t simply mean avoiding all of your card’s benefits and services; you can have your bells and whistles, and play them, too.
No Annual Fee | No Balance Transfer Fee | No Foreign Transaction Fee
Best Credit Cards with No Annual Fees
Credit card annual fees are an all-purpose type of fee, generally charged to cover various perks and rewards offered by the card, such as airline credits or cash back rewards. As such, the only real way to avoid paying an annual fee is to choose a credit card that doesn’t charge one.
Happily, a large number of credit cards are available that come annual-fee-free — and you won’t need to forfeit rewards for the privilege, either. Not only can you find no annual fee cards that provide awesome rewards rates, but also solid signup bonuses, including great intro-APR deals. Start comparing your options with our expert-rated picks below.
Additional Disclosure: Non-Monetized. The information related to Chase Freedom Flex℠ was collected by CardRates and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see issuer website for current information. CardRates does not receive commission for this product.
- INTRO OFFER: Unlimited Cashback Match for all new cardmembers. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
- Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
- Redeem cash back for any amount. No annual fee.
- 0% intro APR on purchases and balance transfers for 15 months; 17.49% - 26.49% variable APR after that; balance transfer fee applies.
- Terms and conditions apply.
- Intro Offer: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.99% - 28.49%.
- No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
- Member FDIC
Additional Disclosure: Non-Monetized. The information related to Chase Freedom Unlimited® was collected by CardRates and has not been reviewed or provided by the issuer of this product/card. Product details may vary. Please see issuer website for current information. CardRates does not receive commission for this product.
+See More Credit Cards with No Annual Fees
Although you certainly can find great cards without annual fees, sometimes that annual fee may be worth the cost. For example, the American Express Blue Cash Preferred card charges a $95 annual fee, but provides 6% cash back rewards on your first $6,000 worth of grocery purchases each year. So, you’d only need to spend about $32 a week on groceries with your card to break even on the annual fee — less than a third of what a typical family spends.
Best Credit Cards with No Foreign Transaction Fees
Traveling abroad can be an exciting experience, full of new places, new people — and new currencies. But where each border crossing once required changing out one pocket of strange bills and coins for another, credit cards have made the currency transition almost painless — almost. The convenience of having your credit card deal with the currency conversion comes with a cost: foreign transaction fees.
Generally charged to cover the costs of converting your funds to and from American dollars, foreign transaction fees are typically between 2% and 4% of your purchase total, which can add up quickly. As with annual fees, the only real way to avoid foreign transaction fees (other than avoiding foreign transactions) is to choose a card that doesn’t charge them, starting with our top options below.
Additional Disclosure: Bank of America is a CardRates advertiser.
+See More Credit Cards with No Foreign Transaction Fees
When most people think of foreign transaction fees, they tend to picture an overseas trip and purchases made in a foreign land. In actuality, you can make foreign transactions right from your living room. That’s because most purchases made in a another currency (or that pass through a foreign bank) can qualify as a foreign transaction — and be charged as one. Contact your issuer if you’re concerned a specific transaction may accrue fees.
Cheap Doesn’t Have to Mean Feature-Free
Credit card costs can be sneaky, tricky things, often hiding in the fine print like ninjas in shadows. But while you’d have to live a life on the lam to avoid a ninja out to get you, most credit card fees can be easily avoided with the right card and responsible credit card behaviors.
And, even better, you won’t need to live without perks and rewards to find a cheap credit card, particularly if your credit is good to excellent. With a quality credit score, you can say “Sayonara” to credit card fees without giving up the benefits of being a cardholder.
Editorial Note: Our site content is not provided or commissioned by any credit card issuer(s). Opinions expressed on CardRates.com are the author's alone, not those of any credit card issuer, and have not been reviewed, approved, or otherwise endorsed by credit card issuers. Every reasonable effort has been made to maintain accurate information; however, all credit card offer details, including information about rewards, signup bonuses, introductory offers, and other terms and conditions, is presented without warranty. Clicking on any offer on CardRates.com will direct you to the issuer's website, where you can review the current terms and conditions of the offer.
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