The Ultimate Guide to Credit Cards
Tuesday, September 27, 2022

9 Best Deals on Credit Card Interest Rates (2022)

Credit Card Interest Rates

credit card advice

Brittney Mayer

Written by: Brittney Mayer

Brittney Mayer

Brittney is a Credit Strategist and Finance Expert who has spent years honing her knowledge of the credit industry both personally and professionally. Brittney applies her more than a decade of research experience to crafting in-depth consumer guides designed to help CardRates readers make better, more informed financial decisions.

Edited by: Lillian Guevara-Castro

Lillian Guevara-Castro

Lillian brings more than 30 years of editing and journalism experience. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct instructor at the University of Florida. Today, she edits all CardRates content for clarity, accuracy, and reader engagement.

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Advertiser Disclosure

Although intimidating to some novice cardholders, credit card interest rates isn’t a particularly complicated concept to understand — and it’s certainly worth whatever time it takes to learn. Once you know how credit card interest works, you can find ways to not only minimize the interest you incur on your credit card balances, but how to avoid paying interest fees altogether.

For example, when you understand how your credit card’s grace period operates, you can enjoy interest-free credit card purchases indefinitely, as you’ll know exactly when to pay your balance to avoid racking up fees.

Furthermore, with a bit of credit education, you can even avoid paying fees on your new and existing revolving balances. Indeed, with the proper use of introductory and ongoing interest rate offers, you can score zero-interest and low-interest deals perfect for any balance you need to carry from month to month — or already carry. In the following article, we’ll take a look at some of our top picks for the best credit cards available today with 0% introductory rates on purchases, 0% introductory rates on balance transfers, and ongoing low APRs.

0% Intro (Purchases) | 0% Intro (Balance Transfer) | Low Ongoing APRs

Best “0% Intro Rate on Purchases” Credit Cards

Whether you’ve planned your purchase or are making an impulse buy, putting a few thousand dollars (or more) on your credit card can be a big mistake if you carry the balance for long. That’s because interest fees don’t take long to add up, and while that 19% APR didn’t seem like a big deal at first, it’ll cost you around $1,000 a year to carry a $5,000 balance at that rate — enough to turn your bargain bedroom set into a full-price faux pas.

However, that’s not to say you have no other options; for those purchases that you simply can’t pay off at once, you may still be able to use a card to cover the cost — you simply need to select the right card. Specifically, those with good credit can find introductory APR deals offering 0% APR on new purchases made with your card for the length of the offer. Our top-rated deals provide 0% interest on new purchases for 14 months or more.

0% INTRO APR RATING

★★★★★
4.9

OVERALL RATING

  • Start off strong with 0% Intro APR for 18 months from account opening on purchases and balance transfers. A variable APR of 17.24% - 25.99% on balance transfers and purchases after the introductory period ends.
  • Lower your interest rate by 2% each year. Automatically be considered for an APR reduction when you pay on time, and spend at least $1000 on your card by your next account anniversary.
  • Raise your credit limit. Get an automatic, one-time review for a higher credit limit when you pay on time, and spend $500 in your first six months.
  • All for no annual fee - You won't have to pay an annual fee for all the great features that come with your Slate Edge℠ card
  • Keep tabs on your credit health - Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 18 months
0% Intro APR on Balance Transfers 18 months
17.24% - 25.99% Variable
$0
Good/Excellent

0% INTRO APR RATING

★★★★★
4.7

OVERALL RATING

  • INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
  • Enjoy 6.5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
  • After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back 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 17.24% - 25.99%.
  • No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
0% Intro APR on Balance Transfers 15 months
17.24% - 25.99% Variable
$0
Good/Excellent

0% INTRO APR RATING

★★★★★
4.7

OVERALL RATING

4.8/5.0
  • One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • $0 annual fee and no foreign transaction fees
  • Earn unlimited 5% cash back on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options. Terms apply
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases and balance transfers for 15 months; 16.49%-26.49% variable APR after that; 3% fee on the amounts transferred within the first 15 months
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% for 15 months
0% for 15 months
16.49% - 26.49% (Variable)
$0
Excellent, Good

+See More 0% APR Purchase Offers

Another great benefit to a card offering an introductory 0% APR for new purchases is that you can typically still earn rewards on those purchases during the interest-free period. Since interest fees can be a major reward killer, this can be a great benefit, especially when trying to reach spending requirements for a juicy signup bonus.

Example Card Terms for Introductory Offer

Introductory offers providing 0% APR will revert to a higher APR at the end of the offer terms.

Of course, when comparing introductory interest offers be sure to look at more than the length of the offer and the rewards you’ll earn. You also need to look carefully at the default purchase APR you’ll see when your offer terms end, as this will likely be a standard purchase APR in the 12% to 25% range (depending on your individual creditworthiness).

Best “0% Balance Transfer Intro Rate” Credit Cards

As awesome as 0% APR offers are for new purchases, they only work for, well, new purchases, and only new purchases made with that particular card. These offers will do little good for those already carrying a balance on their existing cards; no, that’s when you need 0% APR balance transfer offers, which are good on any existing balance that you transfer to your new card.

For the most part, a balance transfer works exactly as it sounds — you transfer your existing balance from one card to another card. Ideally, the new card has a lower interest rate than the first, reducing your fees and monthly payments. Our top balance transfer offers provide 0% APR on transferred balances for up to 18 months.

Discover it® Balance Transfer Review

at Discover Card'ssecure website

0% BALANCE TRANSFER RATING

★★★★★
5.0

OVERALL RATING

  • INTRO OFFER: Unlimited Cashback Match – only from Discover. 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 each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • NEW! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Every $1 you earn in cash back is $1 you can redeem.
  • No annual fee.
  • Click "Apply Now" to see terms and conditions.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 6 months
0% Intro APR for 18 months
14.24% - 25.24% Variable APR
$0
Excellent/Good

0% BALANCE TRANSFER RATING

★★★★★
4.9

OVERALL RATING

  • 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 15.99% - 25.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater
  • Get free access to your FICO® Score online.
  • With Citi Entertainment®, get special access to purchase tickets to thousands of events, including concerts, sporting events, dining experiences and more.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% 12 months on Purchases
0% 21 months on Balance Transfers
15.99% - 25.99% (Variable)
$0
Excellent, Good

Additional Disclosure: Citi is a CardRates advertiser.

0% BALANCE TRANSFER RATING

★★★★★
4.9

OVERALL RATING

  • No Late Fees, No Penalty Rate, and No Annual Fee... Ever
  • 0% Intro APR for 21 months on balance transfers from date of first transfer and 0% Intro APR for 12 months on purchases from date of account opening. After that the variable APR will be 16.99% - 26.99%, based on your creditworthiness. Balance transfers must be completed within 4 months of account opening.
  • There is a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater.
  • Stay protected with Citi® Quick Lock and $0 liability on unauthorized charges
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR Period 12 months on Purchases
0% Intro APR Period 21 months on Balance Transfers
16.99% - 26.99% (Variable)
$0
Excellent, Good Credit

Additional Disclosure: Citi is a CardRates advertiser.

+See More 0% APR Balance Transfer Offers

As with most good things in life, balance transfers do have a catch: balance transfer fees. Typically 2% to 4% of your transferred balance, these fees can eat into the savings you achieve by lowering your interest rate, so keep it in mind when considering a transfer.

Furthermore, introductory balance transfer deals will have the same limitation as new purchase offers, due to the temporary nature of the deal. After the introductory period on your balance transfer offer ends, your interest rate will revert to the default rate and you’ll start being charged interest on your transferred balance. Since the average credit card interest rate in the US is around 17%, the new rate can get expensive — fast.

Best “Ongoing Low Interest Rate” Credit Cards

If the introductory offer has a particular weakness, it is the fact that it is introductory. No matter how great the offer, it must come to an end eventually. At that point, the default APR of your credit card becomes remarkably important. The best way to avoid nasty interest rate surprises at the end of your introductory term — or in general — is to find a card that offers a low ongoing APR.

While the exact interest rate you are charged will depend primarily on your individual credit, you can take some of the chance out of the equation with careful card selection. All credit cards will have a designated range of potential interest rates specific to that card, and the range determines the minimum and maximum APR an applicant can receive. The top-rated cards on our list have APR ranges starting as low as 11.99% for qualified cardholders.

Discover it® Cash Back Review

at Discover Card'ssecure website

LOW APR RATING

★★★★★
4.8

OVERALL RATING

  • INTRO OFFER: Unlimited Cashback Match – only from Discover. 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 each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically.
  • NEW! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Every $1 you earn in cash back is $1 you can redeem.
  • Get a 0% intro APR for 15 months on purchases. Then 14.24% to 25.24% Standard Variable Purchase APR applies, based on credit worthiness.
  • No annual fee.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 15 months
0% Intro APR for 15 months
14.24% - 25.24% Variable APR
$0
Excellent/Good
DCU Visa® Platinum Credit Card Review

at the issuer'ssecure website

LOW APR RATING

★★★★★
4.8

OVERALL RATING

  • DCU’s Visa Platinum Credit Card offers a rate lower than you’ll find on most other bank or store cards. With one of the lowest rates in the nation, this is the perfect starter card for anyone trying to establish credit or save on interest with no-fee balance transfers.
  • Embedded EMV chip - this tiny chip protects your information in a big way.
  • Mobile Wallet Compatible - works with Apple Pay®, Google Pay™, and Samsung® Pay.*
  • Optional overdraft protection - We’ll transfer the balance of any overdrafts from your DCU checking account to your DCU Visa Platinum account up to your available limit.
  • No annual fee, balance transfer fee, or cash advance fees
  • Must meet eligibility criteria to join Digital Federal Credit Union
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
10% (Variable)
$0
Average/Good
Discover it® Balance Transfer Review

at Discover Card'ssecure website

LOW APR RATING

★★★★★
4.8

OVERALL RATING

  • INTRO OFFER: Unlimited Cashback Match – only from Discover. 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 each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • NEW! Discover helps remove your personal information from select people-search websites. Activate by mobile app for free.
  • Every $1 you earn in cash back is $1 you can redeem.
  • No annual fee.
  • Click "Apply Now" to see terms and conditions.
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR for 6 months
0% Intro APR for 18 months
14.24% - 25.24% Variable APR
$0
Excellent/Good

+See More Ongoing Low APR Offers

Even with the lowest possible ongoing APR, you can still find yourself paying higher interest fees than you are comfortable with. One easy way to reduce the amount of interest you pay is to make multiple payments throughout the month. This is because interest is compounded daily, based on your average daily balance. Making more frequent payments decreases your average daily balance and, thus, decreases your total interest.

Graphic of Cardholder Agreement APR Listing

Credit cards may have multiple APRs for each type of balance, which are listed in the cardholder agreement.

If you are unsure of the exact APR charged by your new (or old) credit card, you can find it listed in your cardholder agreement. Make sure you look at the correct APR for your transaction type, however. New purchases, transferred balances, and cash advances can all have different APRs. Additionally, your card may have a penalty APR that applies if you miss a credit card payment.

Save Big By Lowering Your Credit Card Interest Rates

For all that credit cards are a secure and convenient way to buy, the high interest rates charged for the pleasure of purchasing with plastic can be a pain — an expensive pain. Even the most qualified applicants can be stuck paying interest rates of 14% or more, and as your credit score goes down, your interest rates head in the opposite direction. Be sure to check your credit report at least once a year, if not more often, to make sure there are no mistakes or erroneous information dragging your score down. Many credit cards even come with free credit monitoring these days.

Luckily, with a little knowledge (and the right deal) you can take the sting out of your interest payments, or even eliminate them altogether. Quality low-interest and no-interest credit card offers can be an easy way to decrease the cost of your debt and make it easier to repay your existing balances.

Advertiser Disclosure

CardRates.com is a free online resource that offers valuable content and comparison services to users. To keep this resource 100% free, we receive compensation for referrals for many of the offers listed on the site. Along with key review factors, this compensation may impact how and where products appear across CardRates.com (including, for example, the order in which they appear). CardRates.com does not include the entire universe of available offers. Editorial opinions expressed on the site are strictly our own and are not provided, endorsed, or approved by advertisers.