Low interest credit cards are important when it comes to those big purchases that may require you to carry a balance for a while. This article explores some of the top low interest cards on the market today.
According to a 2018 survey on credit card ownership from Statista, more than half of the consumers from every age group over 18 reported using credit cards. Of those abstaining from card use, a common reason cited is the potential for accumulating debt.
They have a fair point; collectively, Americans owe more than $1 trillion in credit card debt. The fact is, however, that credit cards aren’t, on their own, inherently dangerous for your finances. The real culprit is actually the high interest rates and fees that often come with your new card.
Thankfully, choosing the right credit card can go a long way toward reducing the debt risks associated with card use, and, of course, personal spending restraint. For instance, paying your balance fully each month will let you avoid interest altogether. For necessary balances, find cards that charge low (or better, no) interest rates.
Excellent Credit | Balance Transfers | Good Credit | Fair Credit | Bad Credit
The Best No-Interest Card Offers for Excellent Credit
At the top of the credit food chain, those with excellent credit typically have credit scores north of 750. These consumers have demonstrated good credit behaviors, such as paying their bills on time every month, as well as maintaining low balances and being stingy about new accounts.
In the credit world, financial diligence gets rewarded, often in the form of low rates and fees. When it comes to credit cards, consumers with excellent credit can find a wide range of great no-interest offers on both new purchases and balance transfers, with many offers lasting 12 months or more.
- Start off strong with 0% Intro APR for 18 months from account opening on purchases and balance transfers. A variable APR of 15.24% - 23.99% 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
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Intro (Purchases)
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Intro (Transfers)
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Regular APR
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Annual Fee
|
Credit Needed
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|---|---|---|---|---|
0% Intro APR on Purchases 18 months
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0% Intro APR on Balance Transfers 18 months
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15.24% - 23.99% Variable
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$0
|
Good/Excellent
|
- 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 15.24% - 23.99%.
- No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
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Intro (Purchases)
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Intro (Transfers)
|
Regular APR
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Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
0% Intro APR on Purchases 15 months
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0% Intro APR on Balance Transfers 15 months
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15.24% - 23.99% Variable
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$0
|
Good/Excellent
|
- 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; 15.24%-25.24% variable APR after that
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Intro (Purchases)
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Intro (Transfers)
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Regular APR
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Annual Fee
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Credit Needed
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|---|---|---|---|---|
0% for 15 months
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0% for 15 months
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15.24% - 25.24% (Variable)
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$0
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Excellent, Good
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For those with excellent credit, the choice of 0% APR cards may come down to comparing the non-interest-rate features, rather than simply the terms of your introductory offer. This includes looking at the card’s cash back rewards and signup bonuses, keeping your personal spending habits in mind when comparing rewards programs.
Best No-Interest Introductory Balance Transfer Offers
While choosing the right low-APR offer can help you avoid accumulating a balance on a high-interest card in the first place, it’s not too late if you’ve already made a poor choice for your purchases. All you need is a shiny new balance transfer offer.
In essence, a balance transfer is what it sounds like: you transfer your credit card balance from one credit card to a second credit card with a lower interest rate. The best balance transfer credit card offers will actually come with a 0% introductory APR, meaning you won’t have to pay any interest on your transferred balance for the length of the introductory terms.
- 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.
- Redeem cash back any amount, any time. Rewards never expire.
- No annual fee.
- Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
- Click "APPLY NOW" to see rewards, FICO® Credit Score terms, Cashback Match™ details & other information.
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Intro (Purchases)
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Intro (Transfers)
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Regular APR
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Annual Fee
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Credit Needed
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|---|---|---|---|---|
0% Intro APR for 6 months
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0% Intro APR for 18 months
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12.24% - 23.24% Variable APR
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$0
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Excellent/Good/Average
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- 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 15.49% - 25.49%, 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.
- The standard variable APR for Citi Flex Plan is 15.49% - 25.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
- Stay protected with Citi® Quick Lock and $0 liability on unauthorized charges
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Intro (Purchases)
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Intro (Transfers)
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Regular APR
|
Annual Fee
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Credit Needed
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|---|---|---|---|---|
0% Intro APR Period 12 months on Purchases
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0% Intro APR Period 21 months on Balance Transfers
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15.49% - 25.49% (Variable)
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$0
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Excellent, Good Credit
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Additional Disclosure: Citi is a CardRates advertiser.
- 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 14.49% - 24.49%, 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.
- The standard variable APR for Citi Flex Plan is 14.49% - 24.49%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.
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Intro (Purchases)
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Intro (Transfers)
|
Regular APR
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Annual Fee
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Credit Needed
|
|---|---|---|---|---|
0% 12 months on Purchases
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0% 21 months on Balance Transfers
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14.49% - 24.49% (Variable)
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$0
|
Excellent, Good
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Additional Disclosure: Citi is a CardRates advertiser.
+See More Balance Transfer Offers
On the downside, issuers aren’t going to give you a balance transfer entirely without cost. Most credit cards will charge a balance transfer fee, typically equal to 2% or 3% of the total transferred balance. That said, the interest rate savings over an 18-month period can more than make up for the fees.
Another thing to note is that you generally can’t transfer a balance between two cards if they are both from the same issuer. For example, you can’t transfer a balance from one Bank of America card to another.
You’ll also want to be careful to continue making payments on your original card until you’ve received confirmation from both your old and new cards that the balance has been transferred. A balance transfer can generally be completed within 10 days.
The Best No-Interest Card Offers for Good Credit
Consumers who are in the “good” credit category generally have credit scores of 700 and up. These applicants will qualify for a number of quality intro 0% APR offers, but may not receive terms as favorable as those offered to their excellent-credit counterparts.
For instance, offers for good credit consumers may have shorter introductory periods than offers for consumers with excellent credit. These offers may also specify the type of balances that qualify for the low introductory rates — new purchases versus balance transfers — rather than offering the same introductory rate for both.
- UNLIMITED BONUS: Only Discover gives you an unlimited match of all the Miles you’ve earned at the end of your first year. For example, if you earn 35,000 Miles, you get 70,000 Miles. There’s no signing up, no minimum spending or maximum rewards. Just a Miles-for-Miles match.
- Automatically earn unlimited 1.5x Miles on every dollar of every purchase - with no annual fee.
- Redeem Miles to pay any part of your monthly bill, including your minimum payment.
- Turn Miles into cash in any amount, any time. Or redeem as a statement credit for travel purchases like airfare, hotels, rideshares, gas stations, restaurants and more with no blackout dates. However you redeem, Miles keep the same value. And Miles never expire.
- New Intro APR: 0% intro APR† for 15 months on purchases. Then 12.24% to 23.24% Standard Variable Purchase APR will apply.
- Discover is accepted nationwide by 99% of the places that take credit cards.
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Intro (Purchases)
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Intro (Transfers)
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Regular APR
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Annual Fee
|
Credit Needed
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|---|---|---|---|---|
0% Intro APR for 15 months
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0% Intro APR for 15 months
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12.24% - 23.24% Variable APR
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$0
|
Excellent/Good
|
- 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 15.24% - 23.99%.
- No annual fee - You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
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Intro (Purchases)
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Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
0% Intro APR on Purchases 15 months
|
0% Intro APR on Balance Transfers 15 months
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15.24% - 23.99% Variable
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$0
|
Good/Excellent
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- $0 annual fee and no foreign transaction fees
- Earn a bonus of 20,000 miles once you spend $500 on purchases within 3 months from account opening, equal to $200 in travel
- Earn unlimited 1.25X miles on every purchase, every day
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Earn 5X miles on hotels and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
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Intro (Purchases)
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Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
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|---|---|---|---|---|
0% for 15 months
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0% for 15 months
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15.24% - 25.24% (Variable)
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$0
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Excellent, Good
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One of the most important things to remember about 0% APR introductory offers is the “introductory” part. The rate (or lack thereof) being offered is, by nature, a temporary rate, and will expire at the end of the introductory terms.
Introductory offers providing 0% APR will revert to a higher APR at the end of the offer terms.
Because they are temporary rates, you’ll want to determine the interest rates you’ll be charged after the offer period ends when comparing offers. To avoid paying interest fees on your balances, be sure to pay it off completely before the end of the offer.
The Best Low-Interest Cards for Fair Credit
Possessing credit scores in the 600s, those with fair credit are likely in the process of building — or rebuilding — their credit. As such, the credit card offers these consumers receive will reflect the higher credit risk they represent.
Indeed, no-interest offers for fair-credit consumers will often have much shorter introductory offer terms than the 0% APR offers received by those with better credit. Fair-credit offers may also have other requirements, such as status as a student.
- Prequalify for a card today and it will not impact your credit score
- Less than perfect credit is okay
- Mobile account access at any time
- Protection from fraud if your card is stolen
- Account history is reported to the three major credit bureaus in the U.S.
- *Dependent on credit worthiness
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Intro (Purchases)
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Intro (Transfers)
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Regular APR
|
Annual Fee
|
Credit Needed
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|---|---|---|---|---|
N/A
|
N/A
|
24.9%
|
$35 - $99
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Poor/Bad
|
- No credit score required to apply.*
- 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! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
- No annual fee and build your credit with responsible use.
- 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 13.24% - 22.24% applies.
- Refer-a-Friend: Once you become a Discover it® Student cardmember, you can earn a statement credit each time you refer a friend and they’re approved. Over half a million students got Discover Cards from their friends' recommendations.
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Intro (Purchases)
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Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
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|---|---|---|---|---|
0% Intro APR for 6 months
|
10.99% Intro APR for 6 months
|
13.24% - 22.24% Variable APR
|
$0
|
Fair/New to Credit
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- No credit score required to apply.*
- 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! So you could turn $50 cash back into $100. Or turn $100 into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
- 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.
- No annual fee and build your credit with responsible use.
- 0% intro APR on purchases for 6 months, then the standard variable purchase APR of 13.24% - 22.24% applies.
- Refer-a-Friend: Once you become a Discover it® Student cardmember, you can earn a statement credit each time you refer a friend and they’re approved. Over half a million students got Discover Cards from their friends' recommendations.
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Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
0% Intro APR for 6 months
|
10.99% Intro APR for 6 months
|
13.24% - 22.24% Variable APR
|
$0
|
Fair/New to Credit
|
For some applicants, especially those on the lower end of the “fair” category, the choice may come down to selecting a card that simply has a lower all-around interest rate. The rates for these cards will vary based on your individual creditworthiness.
The Best Low-Interest Cards for Bad Credit
As most consumers with bad credit are likely already aware, few issuers are willing to offer low-interest cards to those who present the highest credit risk. In most cases, this means credit scores below 600, though each credit card issuer (and even each specific credit card) will have its own particular credit standards.
For those with bad credit, the lowest interest rates will likely be found on secured credit cards. Requiring a cash down payment to open, a secured credit card otherwise will act exactly like a regular unsecured credit card when you make purchases.
- Receive Your Card More Quickly with New Expedited Processing Option
- No Credit History or Minimum Credit Score Required for Approval
- Quick and Complete Online Application; No credit inquiry required!
- Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
- Full-Feature Platinum Mastercard® Secured Credit Card; Try our new Mobile App for Android users!
- Good for Car Rental, Hotels; Anywhere Credit Cards Are Accepted!
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Intro (Purchases)
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Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
N/A
|
N/A
|
10.24% (V)
|
$49
|
Bad / No Credit
|
- Receive Your Card More Quickly with New Expedited Processing Option
- No Credit History or Minimum Credit Score Required for Approval
- Quick and Complete Online Application; No credit inquiry required!
- Includes Free Real-Time Access to Your Credit Score and Ongoing Credit Monitoring powered by Experian
- Full-Feature Platinum Mastercard® Secured Credit Card; Try our new Mobile App for Android users!
- Good for Car Rental, Hotels; Anywhere Credit Cards Are Accepted!
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Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
N/A
|
N/A
|
14.24% (V)
|
$39
|
Poor/Limited/No Credit
|
- No credit score required to apply.*
- No Annual Fee, earn cash back, and build your credit with responsible use.
- Using your secured credit card helps build a credit history with the three major credit bureaus. Generally, prepaid and debit cards can’t do that.
- Establish your credit line with your tax return by providing a refundable security deposit of at least $200. That means a $200 deposit for a $200 credit line. Or a $500 deposit for a $500 credit line. Bank information must be provided when submitting your deposit, and the security deposit equals your credit limit.
- Automatic reviews starting at 7 months to see if we can transition you to an unsecured line of credit and return your deposit.*
- Earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically.
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Intro (Purchases)
|
Intro (Transfers)
|
Regular APR
|
Annual Fee
|
Credit Needed
|
|---|---|---|---|---|
N/A
|
10.99% Intro APR for 6 months
|
23.24% Variable APR
|
$0
|
New/Rebuilding
|
When it comes to choosing a card with bad credit, you’ll want to be sure your new card reports to all three major credit bureaus. This will allow you to build your credit and increase your credit score over time as you (responsibly) use your new card.
The Best Way to Avoid Interest is to Pay Your Bill in Full
For many, the idea of paying the average 16.6% APR on their credit card purchases (or worse, more) can be scary — but it doesn’t have to be. Today’s consumers have a variety of options available to avoid paying high interest rates on both new purchases and an existing balance.
Of course, the best way to avoid paying interest on your purchases is to completely pay your credit card balance every month. But qualified applicants can still find interest-fee-free ways to carry a balance on their cards with a little research and a sweet low-interest credit card offer.
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.
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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