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The 5 best low-interest credit cards: Which is right for you?
Credit cards today can carry some pretty steep interest rates, especially if you have bad credit or carry a large balance from month to month. That is not to say that all credit cards rack up interest. We scour the market to find not only the best credit card low interest rates, not just for purchases, but for balance transfers, too.
In our survey of today's best low interest credit cards, the Wells Fargo Reflect® Card tops our list, but these are the other picks that also made our list of the best low interest credit cards.
With no annual fee, the Wells Fargo Reflect® Card boasts a 0% introductory APR lasting 21 months from account opening on purchases and qualifying balance transfers (17.99% to 29.99% variable thereafter). However, you need to transfer your balance within 120 days from account opening to qualify for the introductory period. There is a balance transfer fee of 5% ($5 minimum). There are also other protections built in, such as up to $600 in cell phone protection when you use your Reflect card to pay your bill (subject to a $25 deductible). If you hit a snag on the road, 24/7 roadside dispatch is available for towing, locksmith, and other emergency roadside services. It is just another way that the Wells Fargo Reflect Card saves you money.
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Wells Fargo Reflect® Card
The Citi® Diamond Preferred® Card gives an introductory offer with 0% intro APR on balance transfers for the first 21 months after you make your first balance transfer, then 17.99% - 28.74%. It is significantly longer than many other cards, giving you more time to enjoy the introductory period. For purchases, you also receive a 0% intro APR for 12 months from account opening, then 17.99% - 28.74% variable APR. There is no annual fee, either. For support, there is 24/7 customer service with automatic account alerts and custom Identity Theft services with built-in fraud protection. Citi even lets you choose your payment due date to work best with your finances each month. You can also benefit from special entertainment perks like exclusive presales and experiences.
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Citi® Diamond Preferred® Card
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate.
- Earn 1% unlimited cash back on all other purchases – automatically.
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, and gas stations, up to the quarterly maximum when you activate.
- Earn 1% unlimited cash back on all other purchases – automatically.
Like the Chase Freedom Unlimited card, the Discover it® Cash Back offers an excellent rewards system to keep you earning while you spend. Discover offers rotating categories, giving you 5% cash back on quarterly picks like grocery stores, restaurants, gas stations, and even Amazon.com, up to the quarterly maximum. Discover even publishes its rewards system upfront for easier planning, such as 5% off gas and Target purchases in June and December's 5% off Amazon.com and digital wallet purchases. You also receive 1% cash back on all other purchases, which are automatically loaded to your account, with dollar-for-dollar unlimited Cash Back matching for your first-year spending. There also is no annual fee, and you get 0% intro APR for your first 15 months on purchases and balance transfer with a 3% Intro Balance Transfer Fee through February 10, 2023. The variable APR will go to 16.99% to 27.99% after those 15 intro months.
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Discover it® Cash Back
The U.S. Bank Visa® Platinum Card presents a 0% intro APR on purchases and balance transfers for your first 18 billing cycles (19.49% to 29.49% variable, thereafter), one of the longest introductory periods available today. There is also a special program called the U.S. Bank ExtendPay™ Plan, which allows you to break up those large purchases into fixed monthly payments that are more manageable for your budget. Like Citi, you can also choose your own payment date for an added convenience. Also included is built-in fraud protection with free credit score monitoring exclusively for U.S. Bank customers. You even get automatic cell phone protection when you pay your bill with your Platinum Card.
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U.S. Bank Visa® Platinum Card
What is the best low-interest credit card?
Wells Fargo Reflect card is the best low-interest credit card.
Credit card | APR | Recommended Credit | Introductory APR |
Wells Fargo Reflect® Card | 17.99% to 29.99% variable | Good, Excellent | 0% intro APR from account opening for 21 months on eligible purchases and qualifying balance transfers |
Chase Freedom Unlimited® | 19.74% to 28.49% variable | Good, Excellent | 0% intro APR for first 15 months on purchases and balance transfers |
Citi® Diamond Preferred® Card | 17.99% to 28.74% variable | Excellent | 0% on purchases for first 12 months 0% for 21 months from date of first transfer on balance transfers made within first 4 months |
Discover it® Cash Back | 16.99% to 27.99% variable | Fair, Good, Excellent | 0% intro APR 0% intro balance transfer APR for first 15 months |
U.S. Bank Visa® Platinum Card | 19.49% to 29.49% variable . | Good, Excellent | 0% intro APR on purchases and balance transfers for first 18 billing cycles |
Which is the right card for you?
With so many cards to choose from, it can be difficult to discern the best low interest credit card for your needs. Before you make a decision, here are some considerations.
Choose this product... | If you want... |
A well-rounded card with an intro 0% APR | |
An intro 0% APR on balance transfers | |
Diverse benefits | |
Rewards across the board | |
A longer running APR |
How did we choose these products?
To find the best low interest credit cards, we study a number of factors that can help you find the right card for your needs.
Interest rate: A card's APR is critical because it tells you how much interest you will pay on your purchases. The lower the APR, the more you save.
Rewards: Many low interest credit cards also offer special rewards, like cash back on purchases. You can also earn extra cash for certain categories like gas or dining, which can quickly save you money on your monthly expenses.
Intro offer: Several low interest credit cards may extend an introductory offer, like a longer 0% APR or cash back for certain purchases.
Fees: Be sure to consider other fees that may apply to your credit card, such as annual fees, foreign transaction fees, and both an APR and fee for balance transfers.
What is a low interest credit card?
A low interest credit card is one that carries a lower APR than other cards, thus charging you lower interest and saving you money.
Why should I consider the best credit cards with low interest?
Not only do low interest credit cards save you money with a lower APR, but you can also cash in on several other valuable perks like cash back on certain purchases or an extended 0% introductory period. Many cards also carry fraud and identity theft protection with round-the-clock customer service.
What is the best credit card for low interest?
The best credit card for low interest is the Wells Fargo Reflect® Card for its competitive APR, generous rewards, and reasonable credit qualifications. However, the other low interest credit cards on our list are worthy of a look, as they may be a better fit for your needs.
Are there alternative cards worth considering?
In our search for the best low interest credit cards, we found many great options that work for specialized audiences.
- BankAmericard® credit card: Best for good credit
- Bank of America® Travel Rewards credit card: For the frequent traveler
- Blue Cash Everyday® Card from American Express: Designed for families
- Capital One Quicksilver Cash Rewards Credit Card: Best for cash back
- Citi Rewards+® Card: Made for everyday use
- Petal® 2 "Cash Back, No Fees" Visa® Credit Card: A great option for beginners
While you are shopping for credit cards, consider our top picks for the best credit cards for small business, the best rewards credit cards, and the best credit cards with no annual fee.
Opinions expressed here are author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.