February 21, 2023
*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
This article was last updated February 21, 2023 . Terms and conditions may have changed. For the most accurate information, please consult the issuer website.
If you’re looking for a credit card with a low interest rate, the Lake Michigan Credit Union Prime Platinum is our top choice. It charges a $0 annual fee and offers the chance to qualify for one of the lowest interest rates we’ve found at a 10.00% – 18.00% (variable). Finally, while some credit unions have restrictive membership requirements, Lake Michigan Credit Union makes it easy for anyone to join.
A low-interest credit card can help you save money if you sometimes carry a balance from month to month. While the interest rate (also called the APR) on some credit cards can be over 20% or even close to 30%, we’ve rounded up several credit cards with interest rate ranges that start around or even below 10%.
We’ve also rounded up a few credit cards with 0% intro APR periods, during which you’re charged no interest at all. However, note that once your intro period ends, interest will accrue at the regular APR.
The Lake Michigan Credit Union Prime Platinum boasts one of the lowest APRs available (10.00% – 18.00% (variable)) and has a $0 annual fee.
Other than an exceptionally low APR, the Lake Michigan Credit Union Prime Platinum is a pretty plain vanilla credit card. It has no rewards, no sign-up bonus and not much in the way of benefits. Also be aware there’s a 1% of each transaction in U.S. Dollars foreign transaction fee, so if you’re traveling abroad, leave this card at home.
If you’re willing to go through the steps to join a credit union, and you tend to carry a balance from time to time, the Lake Michigan Credit Union Prime Platinum could be ideal for you. With an APR of 10.00% – 18.00% (variable), it has the lowest regular interest rate of any card we’ve found that isn’t restricted to applicants with a military connection.
Just know there’s no intro APR offer on either purchases or balance transfers, and you’ll need a excellent credit score to have a shot at getting the lowest interest rate.
The card is offered by Lake Michigan Credit Union, and while some credit unions have strict membership requirements, you can join this one for a $5 donation to the ALS Foundation through the credit union’s website. Other ways to qualify include if you’re a resident of Michigan’s lower peninsula or Florida, or if you have immediate family who are already members.
The Lake Michigan Credit Union Prime Platinum boasts one of the lowest APRs available (10.00% – 18.00% (variable)) and has a $0 annual fee.
Other than an exceptionally low APR, the Lake Michigan Credit Union Prime Platinum is a pretty plain vanilla credit card. It has no rewards, no sign-up bonus and not much in the way of benefits. Also be aware there’s a 1% of each transaction in U.S. Dollars foreign transaction fee, so if you’re traveling abroad, leave this card at home.
If you’re willing to go through the steps to join a credit union, and you tend to carry a balance from time to time, the Lake Michigan Credit Union Prime Platinum could be ideal for you. With an APR of 10.00% – 18.00% (variable), it has the lowest regular interest rate of any card we’ve found that isn’t restricted to applicants with a military connection.
Just know there’s no intro APR offer on either purchases or balance transfers, and you’ll need a excellent credit score to have a shot at getting the lowest interest rate.
The card is offered by Lake Michigan Credit Union, and while some credit unions have strict membership requirements, you can join this one for a $5 donation to the ALS Foundation through the credit union’s website. Other ways to qualify include if you’re a resident of Michigan’s lower peninsula or Florida, or if you have immediate family who are already members.
While the interest rate isn’t as low as the Lake Michigan Credit Union Prime Platinum, the DCU Visa® Platinum Credit Card still offers a very low APR of 12.75% to 18.00%.
Plus, it gives cardholders peace of mind with its lack of fees (but note that one fee you can still incur is a late payment fee, which is up to $35 — and a penalty APR may be applied to your account if you miss a payment as well).
If you’re willing to take the steps to join a credit union and you’re looking for a low interest rate, this is an excellent card to consider. Some credit unions are difficult to join due to membership requirements, but Digital Federal Credit Union (DCU) makes it easy.
If you don’t qualify based on where you live, through a relationship to a current DCU member, or via one of the numerous participating employers, you can join one of DCU’s partner organizations. For example, one partner is Reach Out for Schools, a nonprofit organization that raises money for classrooms and programs that benefit students. Membership starts at $10.
There is no sign-up bonus or rewards with this card, but know that the DCU Visa® Platinum Credit Card doesn’t burden you with fees. In addition to not charging fees for balance transfers or cash advances, you won’t be charged with over-limit or returned payment fees.
While the interest rate isn’t as low as the Lake Michigan Credit Union Prime Platinum, the DCU Visa® Platinum Credit Card still offers a very low APR of 12.75% to 18.00%.
Plus, it gives cardholders peace of mind with its lack of fees (but note that one fee you can still incur is a late payment fee, which is up to $35 — and a penalty APR may be applied to your account if you miss a payment as well).
If you’re willing to take the steps to join a credit union and you’re looking for a low interest rate, this is an excellent card to consider. Some credit unions are difficult to join due to membership requirements, but Digital Federal Credit Union (DCU) makes it easy.
If you don’t qualify based on where you live, through a relationship to a current DCU member, or via one of the numerous participating employers, you can join one of DCU’s partner organizations. For example, one partner is Reach Out for Schools, a nonprofit organization that raises money for classrooms and programs that benefit students. Membership starts at $10.
There is no sign-up bonus or rewards with this card, but know that the DCU Visa® Platinum Credit Card doesn’t burden you with fees. In addition to not charging fees for balance transfers or cash advances, you won’t be charged with over-limit or returned payment fees.
If you typically carry a balance on your credit card or if you’re planning to finance a big-ticket item, a low-interest rate credit card like the $0-annual-fee USAA® Rate Advantage Visa Platinum® Card should be on your radar.
The USAA® Rate Advantage Visa Platinum® Card offers a very low starting APR, but beware that the range is quite wide: 11.40% to 28.40%.
Plus, this card has a $0 foreign transaction fee, so it’s a fine choice to take if traveling abroad.
The USAA® Rate Advantage Visa Platinum® Card is only available to USAA members. To be eligible, you must be serving in the U.S. Air Force, Army, Coast Guard, Marines, Navy National Guard or Reserve. You can also qualify if you are a veteran, cadet or midshipman — or an eligible family member.
If you qualify for USAA membership (active military, former military, a cadet or midshipman or an eligible family member), you are eligible to apply for the USAA® Rate Advantage Visa Platinum® Card — which offers a chance for a very low ongoing interest rate.
It also comes with more robust benefits than you’ll typically find on a low interest credit card, like travel protections and security measures.
But be aware this card lacks a rewards program, so you won’t be able to earn points or cash back on your purchases. If you are interested in earning rewards, there are other USAA cards to choose from, such as the USAA® Cashback Rewards Plus American Express® Card.
The USAA® Rate Advantage Visa Platinum® Card does not offer a 0% intro APR either.
If you typically carry a balance on your credit card or if you’re planning to finance a big-ticket item, a low-interest rate credit card like the $0-annual-fee USAA® Rate Advantage Visa Platinum® Card should be on your radar.
The USAA® Rate Advantage Visa Platinum® Card offers a very low starting APR, but beware that the range is quite wide: 11.40% to 28.40%.
Plus, this card has a $0 foreign transaction fee, so it’s a fine choice to take if traveling abroad.
The USAA® Rate Advantage Visa Platinum® Card is only available to USAA members. To be eligible, you must be serving in the U.S. Air Force, Army, Coast Guard, Marines, Navy National Guard or Reserve. You can also qualify if you are a veteran, cadet or midshipman — or an eligible family member.
If you qualify for USAA membership (active military, former military, a cadet or midshipman or an eligible family member), you are eligible to apply for the USAA® Rate Advantage Visa Platinum® Card — which offers a chance for a very low ongoing interest rate.
It also comes with more robust benefits than you’ll typically find on a low interest credit card, like travel protections and security measures.
But be aware this card lacks a rewards program, so you won’t be able to earn points or cash back on your purchases. If you are interested in earning rewards, there are other USAA cards to choose from, such as the USAA® Cashback Rewards Plus American Express® Card.
The USAA® Rate Advantage Visa Platinum® Card does not offer a 0% intro APR either.
The PNC Visa® Business Credit Card comes with an intro APR on balance transfers and a reasonable ongoing APR for purchases.
Enjoy 0% intro APR on balance transfers for 13 months, after which a 13.74% to 23.74% variable APR applies. The balance transfer fee is either $5 or 3% of the amount of each balance transfer, whichever is greater.
Purchases don’t come with an intro APR; the regular purchase APR is 13.74% to 23.74% variable.
The card’s annual fee is $0 .
The PNC Visa® Business Credit Card is best for small business owners looking to transfer debt from another card and enjoy a window of more than a year with no interest, or who just need a business card for purchases that comes with a reasonable ongoing APR.
Do note that the card is fairly no-frills, and doesn’t offer rewards or a sign-up bonus.
The PNC Visa® Business Credit Card comes with an intro APR on balance transfers and a reasonable ongoing APR for purchases.
Enjoy 0% intro APR on balance transfers for 13 months, after which a 13.74% to 23.74% variable APR applies. The balance transfer fee is either $5 or 3% of the amount of each balance transfer, whichever is greater.
Purchases don’t come with an intro APR; the regular purchase APR is 13.74% to 23.74% variable.
The card’s annual fee is $0 .
The PNC Visa® Business Credit Card is best for small business owners looking to transfer debt from another card and enjoy a window of more than a year with no interest, or who just need a business card for purchases that comes with a reasonable ongoing APR.
Do note that the card is fairly no-frills, and doesn’t offer rewards or a sign-up bonus.
If you need to rebuild your credit score, a secured credit card is a good tool to help you do that. Secured cards require that you submit a security deposit to the issuer – for example, if you want a $200 credit limit, you’ll have to submit a $200 deposit. Many secured cards come with high APRs, but the DCU Visa® Platinum Secured Credit Card is one with a low interest rate, at just 15.75% Variable.
In a world where many secured cards have interest rates of well above 20%, the DCU Visa® Platinum Secured Credit Card has the potential to save you a significant chunk of money if you have to carry a small balance once in a while. Plus, the DCU Visa® Platinum Secured Credit Card has an annual fee of $0.
Note the minimum deposit is $500, which is higher than the $200 minimum many secured cards require.
The DCU Visa® Platinum Secured Credit Card is aimed at consumers who cannot qualify for a regular, unsecured card because they either lack a credit history or need to rebuild their credit.
There is no sign-up bonus or rewards program, but compared to other secured cards on the market, the DCU Visa® Platinum Secured Credit Card has a very reasonable APR. In exchange for that lower APR, however, applicants will be required to submit a higher minimum security deposit of $500. The DCU Visa® Platinum Secured Credit Card also doesn’t assess fees for cash advances, foreign transactions or balance transfers.
Note that just like the DCU Visa® Platinum Credit Card, you’ll have to join a credit union — but DCU’s membership requirements make it easy for virtually anyone to join.
If you need to rebuild your credit score, a secured credit card is a good tool to help you do that. Secured cards require that you submit a security deposit to the issuer – for example, if you want a $200 credit limit, you’ll have to submit a $200 deposit. Many secured cards come with high APRs, but the DCU Visa® Platinum Secured Credit Card is one with a low interest rate, at just 15.75% Variable.
In a world where many secured cards have interest rates of well above 20%, the DCU Visa® Platinum Secured Credit Card has the potential to save you a significant chunk of money if you have to carry a small balance once in a while. Plus, the DCU Visa® Platinum Secured Credit Card has an annual fee of $0.
Note the minimum deposit is $500, which is higher than the $200 minimum many secured cards require.
The DCU Visa® Platinum Secured Credit Card is aimed at consumers who cannot qualify for a regular, unsecured card because they either lack a credit history or need to rebuild their credit.
There is no sign-up bonus or rewards program, but compared to other secured cards on the market, the DCU Visa® Platinum Secured Credit Card has a very reasonable APR. In exchange for that lower APR, however, applicants will be required to submit a higher minimum security deposit of $500. The DCU Visa® Platinum Secured Credit Card also doesn’t assess fees for cash advances, foreign transactions or balance transfers.
Note that just like the DCU Visa® Platinum Credit Card, you’ll have to join a credit union — but DCU’s membership requirements make it easy for virtually anyone to join.
The Choice Rewards World Mastercard® can offer a low APR on purchases and balance transfers — while offering a rewards program and a sign-up bonus.
You can earn 2 points per $1 spent on groceries, gas, electronics, medical, household goods and telecommunications, and 1 point per $1 spent on everything else. Plus, you can earn a sign-up bonus of 20,000 bonus points for spending at least $3,000 in first 60 days.
But the main highlight of this card is its low purchase and balance transfer APR. Its purchase APR is just 12.75% to 18.00%. If you want to transfer a balance, you can use a 0.00% introductory APR for the first twelve billing cycles on balances transferred during the first 90 days after account opening. Best of all, you get a $0 balance transfer fee. After that, there’s a 12.75% to 18.00% balance transfer APR.
To qualify, you must:
The Choice Rewards World Mastercard® is best for people who may want to earn rewards while transferring a balance or simply have a low APR to fall back on in case you can’t make payments every month.
If you’re transferring a balance on this card, make sure you’re not overspending just to earn rewards. That can make it harder to pay off your balance, which should be your main goal.
The Choice Rewards World Mastercard® can offer a low APR on purchases and balance transfers — while offering a rewards program and a sign-up bonus.
You can earn 2 points per $1 spent on groceries, gas, electronics, medical, household goods and telecommunications, and 1 point per $1 spent on everything else. Plus, you can earn a sign-up bonus of 20,000 bonus points for spending at least $3,000 in first 60 days.
But the main highlight of this card is its low purchase and balance transfer APR. Its purchase APR is just 12.75% to 18.00%. If you want to transfer a balance, you can use a 0.00% introductory APR for the first twelve billing cycles on balances transferred during the first 90 days after account opening. Best of all, you get a $0 balance transfer fee. After that, there’s a 12.75% to 18.00% balance transfer APR.
To qualify, you must:
The Choice Rewards World Mastercard® is best for people who may want to earn rewards while transferring a balance or simply have a low APR to fall back on in case you can’t make payments every month.
If you’re transferring a balance on this card, make sure you’re not overspending just to earn rewards. That can make it harder to pay off your balance, which should be your main goal.
The Simmons Visa® offers an interest-free period on balance transfers and a reasonable ongoing APR, too.
Cardholders get a 0% intro APR for 12 months on balance transfers completed within 60 days of account opening, after which a 14.50% - 22.50% (variable) APR applies. A balance transfer of either $10 or 3% of the amount of each balance transfer, whichever is greater applies.
There’s no intro APR on purchases, so you’ll start immediately at the regular purchase APR of 14.50% - 22.50% (variable). That’s relatively low, especially if you qualify for an interest rate at the lower end of the range.
The annual fee is $0, but beware the foreign transaction fee of 2% of each transaction in US dollars.
This card doesn’t earn rewards or offer a sign-up bonus.
If you want a low interest credit card and you don’t want to go through the steps to join one of the credit unions mentioned here, you may want to check out the Simmons Visa®, issued by an Arkansas-based regional bank. Simmons Bank started in Pine Bluff, Arkansas in 1903 and now operates in eight states.
The Simmons Visa® comes with a year to pay off transferred debt without accruing interest, and the regular APR is comparatively low as well.
The Simmons Visa® offers an interest-free period on balance transfers and a reasonable ongoing APR, too.
Cardholders get a 0% intro APR for 12 months on balance transfers completed within 60 days of account opening, after which a 14.50% - 22.50% (variable) APR applies. A balance transfer of either $10 or 3% of the amount of each balance transfer, whichever is greater applies.
There’s no intro APR on purchases, so you’ll start immediately at the regular purchase APR of 14.50% - 22.50% (variable). That’s relatively low, especially if you qualify for an interest rate at the lower end of the range.
The annual fee is $0, but beware the foreign transaction fee of 2% of each transaction in US dollars.
This card doesn’t earn rewards or offer a sign-up bonus.
If you want a low interest credit card and you don’t want to go through the steps to join one of the credit unions mentioned here, you may want to check out the Simmons Visa®, issued by an Arkansas-based regional bank. Simmons Bank started in Pine Bluff, Arkansas in 1903 and now operates in eight states.
The Simmons Visa® comes with a year to pay off transferred debt without accruing interest, and the regular APR is comparatively low as well.
The Navy Federal Platinum Credit Card stands out for its $0 balance transfer fee, and comes with a solid 0.99% introductory APR for 12 months* *Applies to balance transfers requested within 60 days of account opening. After the introductory period ends, a 10.24% to 18% APR will apply. There’s no intro APR on purchases, so you start out immediately at the regular purchase APR of 10.24% to 18%.
This card doesn’t earn rewards or offer a sign-up bonus, but the annual fee is $0 and the foreign transaction fee is $0, too. Note that to apply, you must be a Navy Federal Credit Union (NFCU) member.
Membership is open to active duty military members, retired military and veterans, eligible family members, and civilian personnel employed by the United States Department of Defense.
If you need a credit card with no balance transfer fee and you’re eligible to join NFCU (military and veterans, family members, and DOD civilians), the Navy Federal Platinum Credit Card is an excellent tool to help you pay off transferred debt.
However, be aware that this card’s intro APR period is shorter than you may find with other balance transfer cards (but those cards will typically charge a 3% to 5% balance transfer fee).
Also, at 10.24% to 18%, you’ve got a shot at a regular APR lower than any other card on this list — even the Lake Michigan Credit Union Prime Platinum. If you qualify for NFCU membership and you’re looking for a credit card with a great balance transfer offer and a low ongoing APR, the Navy Federal Platinum Credit Card should be at the top of your list.
The Navy Federal Platinum Credit Card stands out for its $0 balance transfer fee, and comes with a solid 0.99% introductory APR for 12 months* *Applies to balance transfers requested within 60 days of account opening. After the introductory period ends, a 10.24% to 18% APR will apply. There’s no intro APR on purchases, so you start out immediately at the regular purchase APR of 10.24% to 18%.
This card doesn’t earn rewards or offer a sign-up bonus, but the annual fee is $0 and the foreign transaction fee is $0, too. Note that to apply, you must be a Navy Federal Credit Union (NFCU) member.
Membership is open to active duty military members, retired military and veterans, eligible family members, and civilian personnel employed by the United States Department of Defense.
If you need a credit card with no balance transfer fee and you’re eligible to join NFCU (military and veterans, family members, and DOD civilians), the Navy Federal Platinum Credit Card is an excellent tool to help you pay off transferred debt.
However, be aware that this card’s intro APR period is shorter than you may find with other balance transfer cards (but those cards will typically charge a 3% to 5% balance transfer fee).
Also, at 10.24% to 18%, you’ve got a shot at a regular APR lower than any other card on this list — even the Lake Michigan Credit Union Prime Platinum. If you qualify for NFCU membership and you’re looking for a credit card with a great balance transfer offer and a low ongoing APR, the Navy Federal Platinum Credit Card should be at the top of your list.
Citi is an advertising partner.
The Citi® Diamond Preferred® Card is a $0-annual-fee card that offers a long 0% intro rate on purchases and an even longer rate on balance transfers.
Its intro APR is 0% for 12 months on Purchases. Then it goes to a 17.49% - 28.24% (Variable) APR. Its intro APR is 0% for 21 months on Balance Transfers, then a 17.49% - 28.24% (Variable) APR after that.
A balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
The Citi® Diamond Preferred® Card is best for people looking for a longer-than-average period to pay off a balance transfer. The most common period offered is 12 months, but this card offers much longer than that. However, this card is targeted toward people with excellent/good credit, so you may want to apply for another card on this list if you have poor or limited credit.
Citi is an advertising partner.
The Citi® Diamond Preferred® Card is a $0-annual-fee card that offers a long 0% intro rate on purchases and an even longer rate on balance transfers.
Its intro APR is 0% for 12 months on Purchases. Then it goes to a 17.49% - 28.24% (Variable) APR. Its intro APR is 0% for 21 months on Balance Transfers, then a 17.49% - 28.24% (Variable) APR after that.
A balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
The Citi® Diamond Preferred® Card is best for people looking for a longer-than-average period to pay off a balance transfer. The most common period offered is 12 months, but this card offers much longer than that. However, this card is targeted toward people with excellent/good credit, so you may want to apply for another card on this list if you have poor or limited credit.
If you plan on making a large purchase soon, like a new appliance or laptop, the Wells Fargo Reflect® Card offers the opportunity to pay off new purchases for almost two years without incurring interest charges.
With a 0% intro APR up to 21 months from account opening on purchases, the Wells Fargo Reflect® Card can help you spread payments out during that window of time. After, a 17.74% - 29.74% variable APR applies.
The way the intro APR works on this card is that cardholders get an initial intro period of 18 months, and by making on-time minimum payments, have a chance to earn an extension of up to three months.
You don’t have to worry about an annual fee because it’s $0.
The card also offers a 0% intro APR up to 21 months from account opening on qualifying balance transfers, after which a 17.74% - 29.74% variable APR applies. The balance transfer fee is 3% for 120 days from account opening, then up to 5%; min: $5.
The Wells Fargo Reflect® Card is best for consumers who need a long time to pay off new purchases or transfer balances and aren’t looking for rewards or a sign-up bonus. It’s a no-frills card, but what it does, it does exceedingly well — by offering almost two years of no interest so cardholders have time to pay off debt. Just know if you’ve opened any other Wells Fargo credit card in the past 15 months, you might not qualify for this card’s intro APR. And if you’ve opened a Wells Fargo card in the past six months, you might be denied for this card entirely.
If you plan on making a large purchase soon, like a new appliance or laptop, the Wells Fargo Reflect® Card offers the opportunity to pay off new purchases for almost two years without incurring interest charges.
With a 0% intro APR up to 21 months from account opening on purchases, the Wells Fargo Reflect® Card can help you spread payments out during that window of time. After, a 17.74% - 29.74% variable APR applies.
The way the intro APR works on this card is that cardholders get an initial intro period of 18 months, and by making on-time minimum payments, have a chance to earn an extension of up to three months.
You don’t have to worry about an annual fee because it’s $0.
The card also offers a 0% intro APR up to 21 months from account opening on qualifying balance transfers, after which a 17.74% - 29.74% variable APR applies. The balance transfer fee is 3% for 120 days from account opening, then up to 5%; min: $5.
The Wells Fargo Reflect® Card is best for consumers who need a long time to pay off new purchases or transfer balances and aren’t looking for rewards or a sign-up bonus. It’s a no-frills card, but what it does, it does exceedingly well — by offering almost two years of no interest so cardholders have time to pay off debt. Just know if you’ve opened any other Wells Fargo credit card in the past 15 months, you might not qualify for this card’s intro APR. And if you’ve opened a Wells Fargo card in the past six months, you might be denied for this card entirely.
The BankAmericard® credit card comes with lengthy interest-free periods on both purchases and balance transfers, and cardholders have a chance to earn a sign-up bonus as well.
You’ll get a 0% Intro APR for 21 billing cycles for purchases, after which a 15.49% - 25.49% Variable APR applies.
There’s also a 0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days. After, a 15.49% - 25.49% Variable APR on balance transfers applies. The balance transfer fee is reasonable at 3% of the amount of each transaction.
You’ll pay a $0 annual fee to carry the card, but beware the foreign transaction fee of 3%.
It’s possible to find longer intro APR periods than this card has, but those offers typically don’t come with a sign-up bonus. And it’s possible to find higher sign-up bonuses than this card offers, but cards with higher bonuses typically have shorter intro APRs. The BankAmericard® credit card offers the best of both worlds, with lengthy intro APRs on both purchases and balance transfers.
If you’re planning a big purchase, and would like to offset the cost a little bit while also avoiding interest charges, this is an excellent card for you. Plus, if your regular APR is set toward the lower end of the 15.49% - 25.49% Variable APR range, this card offers a reasonable ongoing APR as well.
The BankAmericard® credit card comes with lengthy interest-free periods on both purchases and balance transfers, and cardholders have a chance to earn a sign-up bonus as well.
You’ll get a 0% Intro APR for 21 billing cycles for purchases, after which a 15.49% - 25.49% Variable APR applies.
There’s also a 0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days. After, a 15.49% - 25.49% Variable APR on balance transfers applies. The balance transfer fee is reasonable at 3% of the amount of each transaction.
You’ll pay a $0 annual fee to carry the card, but beware the foreign transaction fee of 3%.
It’s possible to find longer intro APR periods than this card has, but those offers typically don’t come with a sign-up bonus. And it’s possible to find higher sign-up bonuses than this card offers, but cards with higher bonuses typically have shorter intro APRs. The BankAmericard® credit card offers the best of both worlds, with lengthy intro APRs on both purchases and balance transfers.
If you’re planning a big purchase, and would like to offset the cost a little bit while also avoiding interest charges, this is an excellent card for you. Plus, if your regular APR is set toward the lower end of the 15.49% - 25.49% Variable APR range, this card offers a reasonable ongoing APR as well.
| Credit Card | Welcome Offer | Rewards Rate | Annual Fee | Intro Purchase APR | Regular APR | Intro Balance Transfer Rate | Regular Balance Transfer Rate | Balance Transfer Fee | Recommended Credit | Card Review |
|---|---|---|---|---|---|---|---|---|---|---|
|
Lake Michigan Credit Union Prime Platinum
|
N/A | N/A | $0 | N/A | 10.00% – 18.00% (variable) | N/A | 10.00% – 18.00% (variable) | None | Excellent/Good | Lake Michigan Credit Union Prime Platinum Review |
|
DCU Visa® Platinum Credit Card
|
N/A | N/A | $0 | N/A | 12.75% to 18.00% | N/A | 12.75% to 18.00% | None | Excellent/Good | DCU Visa® Platinum Credit Card Review |
|
USAA® Rate Advantage Visa Platinum® Card
|
N/A | N/A | $0 | N/A | 11.40% to 28.40% | 0% Introductory APR through your 08/01/2024 billing cycle. | 11.40% to 28.40% | 3% of the amount of each Balance Transfer | Excellent/Good | USAA® Rate Advantage Visa Platinum® Card Review |
|
PNC Visa® Business Credit Card
|
N/A | N/A | $0 | N/A | 13.74% to 23.74% variable | 0% intro APR on balance transfers for 13 months, after which a 13.74% to 23.74% variable APR applies | 13.74% to 23.74% variable | Either $5 or 3% of the amount of each balance transfer, whichever is greater. | Excellent/Good | PNC Visa® Business Credit Card Review |
|
DCU Visa® Platinum Secured Credit Card
|
N/A | N/A | $0 | N/A | 15.75% Variable | N/A | 15.75% Variable | None | Poor | DCU Visa® Platinum Secured Credit Card Review |
|
Choice Rewards World Mastercard®
|
20,000 bonus points for spending at least $3,000 in first 60 days. | 2 points per $1 spent on groceries, gas, electronics, medical, household goods and telecommunications, and 1 point per $1 spent on everything else | $0 | N/A | 12.75% to 18.00% | 0.00% introductory APR for the first twelve billing cycles on balances transferred during the first 90 days after account opening. | 12.75% to 18.00% | $0 | Excellent/Good | Choice Rewards World Mastercard® Review |
|
Simmons Visa®
|
N/A | N/A | $0 | N/A | 14.50% - 22.50% (variable) | 0% intro APR for 12 months on balance transfers completed within 60 days of account opening | 14.50% - 22.50% (variable) | either $10 or 3% of the amount of each balance transfer, whichever is greater | N/A | Review Coming Soon |
|
Navy Federal Platinum Credit Card
|
No bonus | No rewards | $0 | N/A | 10.24% to 18% | 0.99% introductory APR for 12 months* *Applies to balance transfers requested within 60 days of account opening | 10.24% to 18% | $0 | Excellent/Good/Fair | Navy Federal Platinum Credit Card Review |
|
Citi® Diamond Preferred® Card
|
N/A | N/A | $0 | 0% for 12 months on Purchases | 17.49% - 28.24% (Variable) | 0% for 21 months on Balance Transfers | 17.49% - 28.24% (Variable) | Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum. | Excellent/Good | Citi® Diamond Preferred® Card Review |
|
Wells Fargo Reflect® Card
|
N/A | None | $0 | 0% intro APR up to 21 months from account opening | 17.74% - 29.74% variable APR | 0% intro APR up to 21 months from account opening on qualifying balance transfers | 17.74% - 29.74% variable APR | 3% for 120 days from account opening, then up to 5%; min: $5 | Excellent/Good | Wells Fargo Reflect® Card Review |
|
BankAmericard® credit card
|
N/A | Non-rewards card | $0 | 0% Intro APR for 21 billing cycles for purchases | 15.49% - 25.49% Variable APR | 0% Intro APR for 21 billing cycles for any balance transfers made in the first 60 days | 15.49% - 25.49% Variable APR on balance transfers | 3% of the amount of each transaction. | Excellent/Good | BankAmericard® credit card Review |
The interest rate on your credit card is listed on your credit card statements is your annual percentage rate, or APR. If you want to understand your daily interest rate, just divide your APR by 365 (20%/365 = 0.055% daily interest rate), which will then be applied to your average daily balance (total balance each day/number of days in the billing cycle). Generally, you can expect to be charged interest if you don’t pay your balance off in full before the due date. However, most credit cards have a grace period where if you pay off your balance in full before the due date, you will not incur interest charges. Any balance remaining will be assessed interest.
Credit card issuers will base your APR on a variety of factors. In general, the better your credit score, the more likely you are to be approved for a lower APR; however, there is no guarantee. A study by LendingTree found that the average APR offered to those with really good credit was 19.41%, while the average APR offered to those with bad credit was 26.42%.
In this article, we’ve identified credit cards with interest rates starting significantly lower than those averages. For example, the Lake Michigan Credit Union Prime Platinum is our top pick for the lowest interest rate because it comes with a 10.00% – 18.00% (variable) APR.
Follow the tips below so you get the most value out of your low-interest card:
What’s the difference between a low-interest credit card and a 0% intro APR credit card? To put it simply, the former offers a low ongoing APR, while the latter offers an introductory period (generally from 12 to 21 months long) during which you’ll accrue no interest. Once the introductory period ends, interest will accrue at the regular APR for any balances you roll over from month to month.
If you know you can pay off your credit card debt within a specific time frame, a 0% intro APR credit card might be the best choice. When considering a 0% intro APR card, evaluate whether it offers an intro APR on purchases, balance transfers or both. Also determine how long of an intro period you’ll need and how much the balance transfer fee is if you’re looking to move debt from another card.
However, if you aren’t looking to pay down a set amount of debt from a big purchase or a balance transfer within a specific time frame, a low-interest credit card might be better for your needs. The regular APR for some 0% intro APR cards can be quite high once it kicks in, so if you have to unexpectedly roll over a balance once in a while, you could still end up facing expensive interest charges. By contrast, a card with a low regular APR can help you save money because any interest charges incurred are likely to be more affordable.
For some financial products, such as car loans and mortgages, the interest rate and the APR can differ. However, for credit cards, they’re the same thing.
There’s no federal law limiting the APR a credit card company can charge, according to the Consumer Financial Protection Bureau (CFPB). However, companies are subject to state laws of the state where they’re headquartered.
If a credit card is issued by a credit union, it’s subject to a federal law that currently caps interest rates at 18%.
In short, yes. Most credit cards available these days are variable rate cards, which means their interest rates are tied to an index (typically the Prime Rate), and will increase or decrease as that index rate fluctuates. It’s commonly thought that the Federal Reserve sets the Prime Rate, but that’s not quite correct; rather, the Prime Rate is based on the federal funds target rate, which the Fed does determine.
Fixed-rate cards are less common than they used to be before the Credit CARD Act of 2009. Now, most credit cards are variable-rate cards, which means their APRs fluctuate based on an index such as the Prime Rate. However, you can sometimes still find fixed-rate credit cards these days, generally through credit unions.
Your APR should be listed on your credit card statement. If you can’t locate it, call the number on the back of your credit card to find out.
It’s important to know you should have a very good or exceptional credit score to have a good chance of getting the best rate a credit card has to offer. Generally, that’s considered a FICO Score between 740 and 850. If you have a lower score, even if you get approved for one of the cards on this list, the APR on your account might be set higher.
Probably not. Most credit cards with good 0% intro APR offers require a good credit score or better. A good credit score is one that’s anywhere from 670 to 739 — above that, and your score is considered very good or exceptional.
The most important criterion in compiling this list was each credit card’s regular APR. The cards listed here don’t offer rewards or premium benefits, but they do offer low interest rates (at least for consumers with good enough credit scores to qualify for the best rates).
In addition, none of the cards here charge an annual fee. If you’re trying to save money with a low-interest card, you probably don’t want to pay a fee just to carry your card.
We also considered accessibility. Many of the cards listed here require credit union membership; however, at least our top pick and the runner-up make it easy for anyone to join.
Finally, we included a selection of 0% intro APR credit cards. While these cards might not have the lowest regular APRs, for consumers who need a set window of time to pay off debt, they offer a chance to avoid interest charges entirely.
The above offers and/or promotions may have since changed, expired, or is no longer available. Check the Issuers’ website for more details.
