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 18 months for eligible purchases and qualifying balance transfers. However, if you make timely payments and show responsible use, you could extend your 0% APR for another three months for a total of 21 months overall (14.49% to 26.49% variable thereafter). For the first 120 days, you also receive a smaller balance transfer fee that is the greater of $5 or 3%, but after 120 days, the percentage increases to 5%. 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. 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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- Enjoy 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;
- 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service
- 1.5% on all other purchases
- Enjoy 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;
- 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service
- 1.5% on all other purchases
The Chase Freedom Unlimited® Card starts off strong with $200 cash back after you spend $500 on purchases in the first three months from account opening. There is also a 0% introductory APR lasting the first 15 months on both purchases and balance transfers, then 15.74% to 24.49% variable). That is far from all, however. This card actually delivers the rewards of regular credit cards with a strong cash back program designed to save you money. You earn 5% on gas station purchases up to $6,000 in your first year. You also receive 5% off travel purchases through Chase Ultimate Rewards, 3% off dining, and 3% off drug store purchases with 1.5% off all other purchases. Plus, rotating categories mean you can get up to $1,500 each month when you activate bonus categories, such as gas station and grocery store purchases. Cash back never expires, and there is no minimum required for redemption. Most notably, however, are all of the extra benefits, like extended warranty protection, credit score and identity restoration, auto rental collision coverage, and travel insurance.
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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. 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. 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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- 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.
- 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, gas stations and when you pay using PayPal, 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 and PayPal purchases, 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 September 10, 2022.
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The U.S. Bank Visa® Platinum Card presents a 0% intro APR on purchases and balance transfers for your first 24 billing cycles (15.99% to 25.99% 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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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 | 14.49% to 26.49% variable | Good, Excellent | 0% intro APR for first 18 months on eligible purchases and qualifying balance transfers Intro APR extension up to 21 months with on-time minimum payments |
Chase Freedom Unlimited® | 15.74% to 24.49% variable | Good, Excellent | 0% intro APR for first 15 months on purchases and balance transfers |
Citi® Diamond Preferred® Card | 15.24% to 25.24% 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 | 13.49% to 24.49% variable | Fair, Good, Excellent | 0% intro APR 0% intro balance transfer APR for first 15 months through September 10, 2022 |
U.S. Bank Visa® Platinum Card | 15.99% to 25.99% . | Good, Excellent | 0% intro APR on purchases and balance transfers for first 24 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 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.