15+ Best Low Interest Credit Cards – Comparison & Review

When you first start to use credit cards, it’s easy to form the mistaken impression that you’re getting things for FREE. But that misconception is remedied as soon as you get your first bill. Nonetheless, it is possible to minimize the amount that you have to pay by seeking credit cards with low interest. You can also pay down balances faster by transferring them from a high-interest credit card to one with a low APR. Good or excellent credit is usually required to qualify for low interest credit cards, but there are cards available for individuals with fair credit, especially students. The 15 cards included here also feature no annual fees to allow cardholders to enjoy even more savings.

CapitalOne Venture One Rewards Visa Credit Card

Capital One VentureOne Rewards

Credit Needed: Excellent
Standard APR: 11.9%-19.9%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 12 months, 20,000 bonus miles

The CapitalOne Venture One Rewards Visa credit card features an introductory APR of 0 percent until December 2015. After that, the APR varies from a reasonable 11.9 percent to a not-so-low 19.9 percent – but individuals with good as well as excellent credit can qualify. The CapitalOne Venture One Rewards Visa credit card also offers a generous rewards package, including 20,000 bonus miles after spending at least $1,000 dollars during the first three months after obtaining the card. The card also features no foreign transaction fees and 1.25 miles for every dollar in purchases with no limits. Miles are not subject to blackout dates, never expire and are good at any hotel or airline.

Discover it Card

Discover It

Credit Needed: Good – Excellent
Standard APR: 10.99%-22.99%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 14 months

With its clever commercials featuring doppelgangers of credit card customers and customer service agents, the Discover it card has made a splash in the crowded credit card industry. The Discover it card features an introductory APR of 0 percent for 14 months for purchases and balance transfers. The regular APR varies from a decent 10.99 percent to a definitely not-low 22.99 percent. But the Discover it card also does not impose annoying fees that can jack up what you owe. There is no fee for your first late payment and no penalty APR. There are also no over limit fees and no foreign transaction fees, and you receive 1 percent cash back for all purchases, with bonuses that can be redeemed for any amount, any time you choose – and which never expire.

Super Tip: Watch out for penalty APRs! If you choose a card based on its low interest rate, but it carries a penalty APR, your costs could increase dramatically if you miss even a single payment. The Discover IT card carries no penalty APR.

Also, read >  What are the Different Types of Credit Cards? Find What's Right For You

Citi Diamond Preferred Visa Card

Citi Diamond Preferred

Credit Needed: Good – Excellent
Standard APR: 11.99%-21.99%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 18 months

The Citi Diamond Preferred Visa card features an introductory 0 percent APR for purchases and balance transfers for a full 18 months after opening an account. Afterward, the regular APR ranges from 11.99 percent to 21.99 percent, based on your creditworthiness. Your purchases also earn points through the Citi Easy Deals program, which you can redeem for merchandise, gift cards and deals through local merchants. One nice perk of the Citi Diamond Preferred Visa card is a 24/7 concierge service for cardholders to book flights, hotel rooms and other travel arrangements.

Bankamericard Visa Card

bankamericard

Credit Needed: Good
Standard APR: 10.99%-20.99%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 15 months

The Bankamericard Visa card does not offer flashy rewards programs or perks to its card members. What the card does feature is a 0 percent introductory APR for purchases and balance transfers for a full 15 billing cycles after opening an account. Afterward, the regular APR ranges from an impressive 10.99 percent to a so-so 20.99 percent, depending on whether your FICO score is excellent or truly outstanding.

Barclaycard Ring MasterCard

Barclaycard Ring

Credit Needed: Good
Standard APR: 8%
Annual Fee: None
Sign-up Bonus:  No balance transfer fees

If you’re seeking a means to ditch high APRs on one or more credit cards, it’s tough to beat the Barclaycard Ring MasterCard. The card features an amazing 8 percent APR on purchase transactions and balance transfers – not for a few months or even a year, but forever. The Barclaycard Ring MasterCard also rewards cardholders who handle their accounts responsibly with cash rewards through the Giveback program. Free access to your FICO score helps you keep tabs on your credit profile.

Super Tip: With balance rewards cards  you almost always have to contend with expiration dates for their low intro APRs. But the Barclayrcard Ring MasterCard APR has no expiration date — which is great if you’re paying down a large balance from another card.

Webster Bank Visa Signature Credit Card

Webster Bank Signature Visa

Credit Needed: Excellent
Standard APR: 9.99%-20.9%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 6 months, $25 cash back bonus on first purchase

The Webster Bank Visa Signature Credit card features an introductory 0 percent APR for purchases and balance transfers for six billing cycles. The regular APR varies from a super-low 9.99 percent to a mediocre 20.99 percent, based on your creditworthiness. Cardholders also earn 1 percent cash back for every 1 dollar in transactions, a 25 percent bonus every month and a 25 dollar cash back bonus with the first purchase. There are no limits on cash back, and rewards do not expire for five years.

BB&T Bright Visa Card

BB&T Bright

Credit Needed: Excellent
Standard APR: 8.15%-17.15%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 12 months

The BB&T Bright Visa card features an introductory 0 percent APR for purchases and balance transfers for 12 months after opening an account. Afterward, the regular APR ranges from a rock-bottom 8.15 percent to a not-awful 17.15 percent. There isn’t a rewards program for the BB&T Bright Visa card; instead, cardholders receive perks such as warranty manager service, travel and emergency assistance services. Travel accident insurance, and guaranteed 0 dollar liability for unauthorized purchases.

Also, read >  The Impending End of the Credit Card Era

USAA Cash Rewards Visa Card

USAA Cash Rewards Visa

Credit Needed: Good
Standard APR: 9.9%-25.9%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 12 months, 2,500 bonus points

The USAA Rewards Visa card is designed for active duty military and veterans, along with eligible family members. The introductory 0 percent APR for balance transfers applies for 12 months after opening an account. The regular APR for purchases, balance transfers and even cash advances ranges from 9.90 percent to 25.9 percent. Earn 2,500 bonus points after your first purchase and 1 point for every 1 dollar in purchases afterward. Points can be redeemed for cash, merchandise, gift cards and travel. There is no limit to the amount of points that can be earned, and points never expire.

Super Tip: Most credit cards impose much higher fees for cash advances. The USAA Rewards Visa card is a welcome exception. This feature can save you big bucks if you intend to make frequent cash advance transactions.

U.S. Bank Visa Platinum Card

US Bank Platinum Visa

Credit Needed: Good – Excellent
Standard APR: 9.99%-23.99%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 15 months

The U.S. Bank Visa Platinum card features an introductory 0 percent APR for purchases and balance transfers for a full 15 billing cycles after opening an account. Afterward, the regular APR ranges from 9.99 percent to 23.99 percent. You’re also protected from unauthorized transactions through Fraud Protection that detects suspicious activity and a guaranteed 0 dollar liability for transactions that you didn’t make or authorize.

NFL Extra Points Visa Credit Card

NFL Extra Points

Credit Needed: Good
Standard APR: 14.99%-22.99%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 15 months

Unlike most low interest cards, the NFL Extra Points Visa credit card is available for individuals with fair credit. The regular APR of 14.99 percent, 19.99 percent or 24.99 percent is not super low. But the card also features an introductory 0 percent APR for 15 billing cycles applied to balance transfers made within the first 45 days after opening an account, which allows you to pay down high-interest balances.

Simmons First Bank Visa Platinum Card

Simmons Bank Visa

Credit Needed: Excellent
Standard APR: 7.25%
Annual Fee: None
Sign-up Bonus:  No balance transfer fees

It’s potentially easy to overlook the Simmons First Bank Visa Platinum Card. There are no splashy cash back, points or miles rewards programs offered. What the Simmons Bank Visa Platinum card does offer is a jaw-dropping APR of 7.25 percent on purchases and balance transfers. There are also no balance transfer fees, which allows you to save even more. But excellent credit is definitely required for the Simmons Bank Visa Platinum card – individuals with less than near-perfect FICO scores need not apply.

USAA Rate Advantage MasterCard

USAA Rate Advantage

Credit Needed: Good – Excellent
Standard APR: 6.9%-23.9%
Annual Fee: None
Sign-up Bonus:  Free travel and retail benefits

Also, read >  Best Credit Cards of 2015

For active duty military personnel, veterans with Honorable Discharge and their families, the USAA Rate Advantage MasterCard is worth serious consideration. The card features no over limit fees or penalty rates. There is no introductory APR, but the regular APR for purchase transactions, balance transfers and cash advances ranges from a rock-bottom 6.90 percent to 23.9 percent. Rental Car Collision Damage coverage allows you to skip that annoying – and expensive Collision Damage Waiver whenever you rent a vehicle.

Discover it Chrome for Students with $20 Cash Back Bonus Card

Discover It Chrome

Credit Needed: Fair
Standard APR: 12.99%-21.99%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 10.99% for 6 months, double the cash back earned in your first year

Unlike the regular Discover it card that requires excellent credit, students with fair credit can qualify for the Discover it Chrome for Students with 20 Dollars Cashback Bonus card. There is a 10.99 percent introductory APR for balance transfers for six months, with a regular APR for transactions ranging from12.99 percent to 21.99 percent. Receive 20 dollars cash bonus after your first purchase within three months, 2 percent cash back at restaurants and gas stations and 1 percent cash back on everything else. Cash back can be redeemed anytime, and rewards never expire. There are also no over limit fees, no foreign transaction fees and no late fees on your first late payment.

Citi ThankYou Preferred Card for College Students

Citi ThankYou Preferred

Credit Needed: Average
Standard APR: 13.99%-23.99%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 7 months, 2,500 bonus points

For students with good credit, the Citi ThankYou Preferred Card for College Students really makes the grade. The 0 percent introductory APR for purchases applies for 7 months. Afterward, the regular APR ranges from 13.99 percent to 23.99 percent, which is not rock bottom, but the Citi ThankYou Preferred Card for College Students also features a generous rewards program. Earn 2,500 ThankYou points by spending 500 dollars within the first three months after obtaining the card. You also earn 2 ThankYou points for dining out and entertainment and 1 ThankYou point for everything else. Redeem points for cash, merchandise, gift cards and travel. There is no limit to how many ThankYou points you can accumulate and points never expire.

The Blue for Business Credit Card from American Express

Blue for Business American Express

Credit Needed: Good
Standard APR: 11.24%-19.24%
Annual Fee: None
Sign-up Bonus:  Introductory Rate of 0% for 9 months, 10,000 bonus points with first purchase

The Blue for Business Credit Card from American Express features a 0 percent introductory APR for purchases for 9 months after opening an account. The regular APR ranges from 11.24 percent to 19.24 percent. The Blue for Business Credit Card from American Express also features a number of perks, including a 30 percent relationship bonus every year through the Membership Rewards program. You can also receive a bonus 10,000 Membership Rewards points by making a purchase within 3 months after opening an account. Points can be used for merchandise, gift cards, and travel or reinvested in your business. Order extra cards for employees with no annual fee as well.