The Ultimate Guide to Credit Cards
Tuesday, September 22, 2020
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2020's Best Low APR Credit Cards

Below are our staff picks for 2020's best low-interest credit cards. These cards feature the lowest annual percentage rate (APR) on purchases and transfers for qualified applicants.

Average APR
Average Annual Fee
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since last month
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Advertiser Disclosure

The credit card offers that appear on this site are from credit card companies from which receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). does not include all credit card companies or all available credit card offers.

Review Breakdown: Best Low APR Credit Cards

Finding the lowest interest rate on a credit card can be tricky, especially when low-interest offers mix an ongoing APR rate with a special introductory rate. Below is a simply summary table to help you better determine the best low interest credit card for your financial needs.

Here are 2020's best low APR credit cards:

Top Low APR Interest Credit Cards
RankCard NameRegular APRIntro Rate (Purchases)Expert Rating
1Applied Bank® Secured Visa® Gold Preferred® Credit Card9.99%N/A ★★★★★ 4.8
2Platinum Plus® Mastercard® Business Card10.24% to 21.24%0% for 7 months ★★★★★ 4.7
3Wells Fargo Cash Back College℠ Card11.15% - 21.15%0% for 6 months ★★★★★ 4.7
4Business Advantage Travel Rewards World Mastercard®12.24% - 22.24%0% for 9 billing cycles ★★★★★ 4.7
5Business Advantage Cash Rewards Credit Card12.24% to 22.24%0% for 9 months ★★★★★ 4.7
6Citi® Double Cash Card13.99% - 23.99% (variable)N/A ★★★★★ 4.6
7Citi Rewards+℠ Card13.49% - 23.49% (Variable)0% for 15 months ★★★★★ 4.6
8Citi® Diamond Preferred® Credit Card13.74% - 23.74% (Variable)0% for 12 months ★★★★★ 4.6
9Bank of America® Cash Rewards Credit Card for Students13.99% - 23.99%0% for 12 billing cycles ★★★★★ 4.6
10Wells Fargo Visa Signature® Card12.49% - 25.49%0% for 15 months ★★★★★ 4.6
11Wells Fargo Rewards® Card12.49% - 25.49%0% for 15 months ★★★★★ 4.6
12Ink Business Cash℠ Credit Card13.24% - 19.24% Variable0% Intro APR on Purchases 12 months ★★★★★ 4.5
13Amex EveryDay® Credit Card12.99% - 23.99%0% for 15 months ★★★★★ 4.5
14Bank of America® Cash Rewards Credit Card13.99% - 23.99%0% for 12 months ★★★★ 4.4
15Chase Freedom Unlimited®14.99% - 23.74% Variable0% Intro APR on Purchases 15 months ★★★★ 4.4
16Chase Sapphire Preferred® Card15.99% - 22.99% VariableN/A ★★★★ 4.1
17Ink Business Preferred® Credit Card15.99%-20.99% VariableN/A ★★★★ 4.1
18Credit One Bank® Visa® Credit Card with Cash Back Rewards17.99% to 23.99% VariableN/A ★★★★ 3.8
19Progress CreditSee website for Details*N/A ★★★★ 3.7
20Merrick Bank Secured Visa® from Merrick Bank17.45% VariableN/A ★★★★ 3.7

4 Steps to Maintaining a Low Credit Card APR

Brittney Mayer
By: Brittney Mayer
Credit Analyst
4 Steps to Maintaining a Low Credit Card APR Guide: Low APR

A low credit card APR is a valuable commodity if you ever carry a balance, as the higher your interest rate, the more you’ll be charged in interest fees. Indeed, an increase of just a few percentage points can make a huge difference in how much money you’ll pay over the course of a year.

This is true of APRs for all loan types — not just credit cards. But how do you ensure a low interest rate?

Here are a few steps for keeping your credit card rates low.

1. Always Pay Your Bill on Time

In addition to paying late fees on late or missed payments, many credit cards will also start charging you what’s known as a penalty APR. Typically much higher than your normal purchase APR, penalty rates can cause your interest fees to skyrocket.

Fortunately, the CARD Act of 2009 makes it much more difficult for credit card issuers to give consumers penalty rates. However, if you have a delinquency on your credit card of 60 days or more (meaning you’ve missed at least two payments), you may trigger a penalty rate.

This means the credit card company can increase your rate on your existing balance, and they aren’t required to lower it until you regularly pay your bill on time for the next six months.

To help make sure you always pay your bill on time, create reminders in your phone or calendar if you have trouble remembering due dates, or, better yet, set up automatic payments from your bank account. If your minimum payments are too high, call your credit company and ask if you can make other arrangements — before you get in trouble and find yourself with a higher interest rate (and a balance that grows more quickly).

2. Negotiate Your Interest Rate

Believe it or not, some credit card companies will lower your APR upon your request. Call your credit company, sell yourself as a good customer, and remind them how many years you’ve been banking with them.

Let them know of competing credit card offers from other banks with much lower APRs. Mention how you’d like to stay loyal to them and ask for a lower APR.

If they say no or do not offer a low enough rate, ask to speak to a supervisor or someone in the retention department.

Still no luck? You may want to try calling again a few days later and see if a different representative can help.

3. Transfer Your Balance

When obtaining a lower interest rate on your current card isn't an option, you may be able to reduce your interest fees by transferring your balance to a new card with a lower rate. This can help you pay off your debt faster, as more of your payment will go toward your balance instead of interest fees.

If you have at least good credit, many banks offer great introductory credit card offers with 0% interest on balance transfers for a year or longer. Just read the fine print so you know what interest rate to expect once the introductory period ends.

If it’s higher than your current rate, it may not be a great deal unless you make major progress on your balance during the 0% introductory period.

Additionally, be aware of any applicable balance transfer fees. Most credit cards will charge a fee — typically 3% to 5% of the total transferred amount — to transfer a balance to the card. While this fee can be well worth it for a good 0% APR offer, crunch the numbers to see if it’s worth paying for lesser APR decreases.

4. Avoid Variable Rates

When you have a variable rate on your credit card, it is tied to an index (generally the U.S. Prime Rate). As the market fluctuates, so, too, will your interest rate.

You can avoid this by getting a credit card with a fixed rate so you will always know what your rate will be.

The only problem? Fixed rate credit cards are harder to find since the CARD Act went into effect, so you may need to do a decent bit of hunting to find one. Most major credit card issuers don’t have fixed-rate cards, but you may have better luck with your local credit unions or community banks.

Maintaining a low credit card APR is easy if you follow some basic steps.

Editorial Note: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

The information on this page was reviewed for accuracy on .

About the Author

Brittney Mayer Brittney Mayer Credit Analyst

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.

Advertiser Disclosure: The credit card offers that appear on this site are from credit card companies from which receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). does not include all credit card companies or all available credit card offers. See the credit card issuer's website for specific terms and conditions of each card.