Find the best low interest credit cards

Low interest credit cards can help you save money on your monthly payments if you tend to carry a balance.  These cards can offer relief from higher interest credit cards and with responsible use by you can help you pay down your credit card balance faster. Low interest credit cards typically require that you have excellent credit to be considered for the lowest rate.  Take a look at the selection of low interest cards from our partners.

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Why choose a low interest credit card?
Choosing a low interest card is an option for those who want to reduce monthly interest payments on their balance. This may be a good fit if you tend to carry a balance.
What is a low interest credit card?
Having a low interest credit card means you will be paying less interest on your balance every month, as compared to higher rate cards. To qualify for one of these cards you will need excellent credit among other factors. Some low interest cards don’t have all the perks and benefits of other cards, however you may find some that offer rewards or low introductory rates. If you are considering a low interest credit card be sure to shop around to find one that best fits your needs.
Who should own one?
If you have excellent credit then you are in a better position to qualify for a low interest credit card. If you tend to carry a balance and you want to reduce the amount of interest you pay each month as compared to a higher rate card then you may want to consider a low interest card.
What are the pros & cons?
The upside to this card is if you tend to carry a balance this card can save you money on monthly interest payments and with responsible use can help you pay down your balance faster. However if you don’t have excellent credit you may not qualify for the lowest rate offered.

Low Interest Card

Capital One® VentureOne® Rewards Credit Card

The Capital One® VentureOne® Rewards Credit Card is an excellent choice if you want to get a one-time bonus of 20,000 mile once you spend $1,000 on purchases within 3 months of approval, which is equal to $200 in travel. Earn unlimited 1.25 miles per dollar on every purchase, every day and pay no annual fee. Also, enjoy no foreign transaction fees.

Customer Reviews

I recently got this card and have used it and love it. The APR is a little high but I know with getting my credit better it will go down.
Shawn

Highlights

New cardmembers can get a low introductory APR on purchases for 12 months. After that, a variable APR that is currently 12.24% – 22.24%. There are no blackout dates and when you travel abroad there are no foreign transaction fees.

You can earn a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months of approval. Once you accumulate miles, they will not expire and you can earn as many as you want. There are no limits. You can use the miles with any airline or with any hotel at any time of the year.

Customer Reviews

More Customer Reviews: Great card, customer service has always answered my questions and addressed any problems l have had. Very quick with the bonus after you reach the limit. Miles add up quickly. This is the only travel reward card l will use.
Daryl

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Related Credit Card Options

Prepaid Cards

Want to have the debit experience without using your debit card? Then you are looking for a prepaid card which is one way to make online payments, pay for products and services, and not have to use your debit card.

Secured Credit Cards

If you are just entering the credit world or working on rebuilding your credit then a good bet is a secured credit card. With a minimum security deposit required used for collateral you will be extended a credit line and with responsible use you will be on your way to building credit. Be sure to shop around and compare offers as some secured cards come with annual fees or set up fees.

Business Credit Cards

If you run a small business, medium-sized business, or even a large corporation, then you may benefit from a business credit card. Depending on the card you can get business perks such as quarterly and year-end summaries, expense tracking tools, additional employee cards and some business cards offer rewards programs. These cards are really useful for purchasing business related products and services. In return, depending on the card, you can get rewards and other incentives.

Cash Back Credit Cards

Cash back credit cards are a great way to earn rewards on your every day purchases.

Low Interest Credit Cards

If you have an excellent credit score then you may be eligible for a low interest credit card. These credit cards can offer relief from higher rate cards, and could end up saving you money on finance charges especially if you tend to carry a balance.

0% Intro APR Credit Cards

If you are looking to transfer a balance from a high rate credit card or are looking to make an expensive purchase then a 0% introductory APR (Annual Percentage Rate) card may be the right choice for you. The introductory rate usually lasts anywhere between 6 to 18 months depending on the issuer and is a great way save on finance charges on your qualifying balances. Some cards offer an introductory APR on purchases and others may offer the introductory APR on balance transfers and you can also find cards that offer introductory APR on both purchases and balance transfers.

Help: Choosing the best low interest credit card for you

If you have excellent credit then you may be eligible for a low interest credit card. These cards may be suited for you if you tend to carry a balance and are looking to keep your monthly finance charge relatively low. Now there are people who get rewards credit cards who often don’t put the APR into consideration. Rewards credit cards tend to have higher interest rates because they are offering people reward points on their purchases. If you are the type of person to pay off your balance every month, then you won’t be charged any interest because there won’t be any balance left. Then you can still use the rewards points you accumulated every month for cash back or discounts on other purchases. However, if you get a rewards card and you only pay the minimum monthly payment, then you will have higher interest which will make the rewards points look like nothing. Low interest credit cards are more for people who carry a balance.
It is possible to find low interest credit cards that also have rewards programs. They are harder to find, but they do exist. However, you have to watch out for the additional fees on the card. There could be an annual fee, foreign transaction fee, or an expiration date on the rewards points you have earned. Depending on your needs you may want to find a low interest card that offers rewards or that doesn’t have a foreign transaction fee, annual fee or expiration date on rewards. Look for card where you can earn bonus miles towards airfare expenses and travel with no blackout dates. An individual who doesn’t care for travel rewards might choose a credit card that offers zero percent introductory APR on balance transfers and purchases for the first 15 months.
In order to have the lowest interest rate credit card possible, you need to start with a great credit score, in addition to other qualifying factors. This means you should have a history of making your monthly payments on time for all of your debt accounts. It should also be a history that shows you managed your debt responsibly for a substantial period of time. So let’s say you just paid off a 15 year mortgage on your house and were consistent with the payments every month during those years. This may lead to a high credit score because mortgages are huge debts to carry and it demonstrates to the credit card companies that you can handle paying off a big debt. This suggests that there is little chance of you not making the payment on much smaller debt, like a credit card. Therefore, they may reward you with a low variable purchase APR on the card after the initial 0% introductory APR expires. On the other hand, if you are someone with a poor credit history then it will be harder to get a credit card with the lowest interest rate. But as you fix your credit and prove yourself to be financially responsible, you may eventually be able to qualify for one up the road.
Finally, you need to understand the difference between fixed APR (Annual Percentage Rate) and variable APR. A variable APR is commonly associated with credit cards. This APR will fluctuate based on the index interest rate, or the prime rate featured in the Wall Street Journal. As an example you can find APRs that range from 11.24% to 23.99%. The fixed APR does not fluctuate and is simply one set APR. Fixed APR credit cards are harder to find, but if you have good credit then you may be able to find one with a low interest rate that will not fluctuate. But this doesn’t mean having a variable APR is bad either. The card issuers of those cards can’t just change the interest rates on their own. They follow the index rate, which is linked to the Federal Reserve’s federal funds rate. Whenever that index rate changes, your variable APR will change. However, a good credit score will also help keep your interest rates low. So when you see a low interest credit card advertised with a range for their APR, don’t assume you will get the lowest or the highest end of the APR figures that are mentioned. You could also get somewhere in between based on your credit scores from the three major credit bureaus.

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