Best Low Interest Credit Cards of 2017

Credit cards can get a bad rap because many Americans are burdened by debt and have forgotten the old adage that you should only buy what you can afford today. However, a low interest card can be a smart financial tool, if you use it wisely.

Cards with 0% APR introductory rates are a great deal if you can pay off your balance transfers during their allotted time. And some cards even offer a 0% rate on purchases during the intro period.

We consider a low-interest card one with an APR of 14% or below. Low-interest cards can be great for an emergency, a fun splurge or for buying expensive items you can’t pay for in a single month.

Here’s look at several cards with low interest rates. Several also have long 0% APR introductory rates.

Citi Simplicity Card

This card has 0% interest for the first 21 months. That’s almost two years of paying no interest, which is especially useful if you’re carrying debt that you want to pay off. After that grace period, the rate goes up to between 13.99% and 23.99% based on your creditworthiness.

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Pros
  • 0% APR on balance transfers and purchases for 21 months
  • Only card out there with no late fees ever
  • No annual fee
  • No late fees
  • No penalty rate
Cons
  • Balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater
  • Once you’ve passed the 0% intro rate, the APR is higher than some cards on this list.

Chase Slate Credit Card

This card has an introductory interest rate of 0% on balance transfers and purchases for 15 months, which is not quite as good as the Citi Simplicity card, but still pretty great. After that, the rate goes up to a variable APR of 15.49%, 21.24% or 24.24% on balance transfers and purchases. But mainly, we like this card for its introductory period.

Reviews

Pros

0% APR on balance transfer and purchases for 15 months

Zero fees for transferring balances in the first 60 days

No annual fee

You can qualify with a credit score as low as 690

Cons

After the honeymoon period, the interest rate is only average

Can’t transfer balances from other Chase cards

Discover It Card

If you’re seeking a card with no annual fee, a generous cash-back program, and a decent APR, try this card. The introductory o% APR on balance transfers is 14 months. After that, it can range from 11.49 % to 23.49% for purchases and transfers.

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Pros
  • 0% on balance transfers for first 14 months
  • No annual fee
  • 5% cash back reward rate on certain categories that change every three months
  • 1% cash back reward rate on other purchases
  • Free monthly access to your FICO score
Cons
  • No signup bonus
  • $37 late-payment fee
  • 3% balance transfer fee and a $10 or 5% cash advance fee, whichever is greater

PenFed Promise card

Unless you’re a member of the military, you’ve likely never heard of this card. With an annual APR of 4.99% APR for the first 12 months and 8.99% to 17.99% APR 4.99 percent for the life of the balance and no transfer fee, it’s great for consumers who carry debt and are seeking low interest on that debt. To get the card, you need to join the Pentagon Federal Credit Union. It’s free for members of the military and their families, federal employees, and members of qualifying organizations, but if you’re not in one of these groups, you can join by making a $15 donation to a military family nonprofit, such as National Military Family Organization or Voices for America’s Troops.

Reviews

Pros
  • 4.99% APR intro rate of 12 months interest rate for the life of the card
  • No transfer fee
  • Great for consumers who carry debt and don’t qualify for a 0% APR balance transfer card
Cons
  • Have to pay $15 to join the credit union or be a member of the military

Simmons Bank Visa card

This is another card with a very low interest rate that can be a good fit for people carrying a balance on a card.

Reviews

Pros
  • 7.75% APR
  • No transfer fee
  • No annual fee
Cons
  • No introductory APR on balance transfers
  • No purchase introductory APR
  • Must have excellent credit to qualify

Credit cards with low interest rates can make life easier, and make debt much more manageable, especially if you qualify for a card with a long 0% introductory rate.

Take a look at Supermoney’s list of personal credit cards, where you can compare a wide variety of options,  read customer reviews, and select the card that will work best for you.

CardRegular APR 
13.49% – 23.49%Apply
13.49% – 23.49%Apply
11.24% – 23.24%Apply
11.24% – 23.24%Apply
14.49% – 22.49%Apply