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Best low interest credit cards
|Best overall||The Amex EveryDay® Credit Card from American Express|
|Best for balance transfers||Discover it® Balance Transfer|
|Best for large purchases||Citi Simplicity® Card - No Late Fees Ever|
|Best for rewards||Citi® Double Cash Card – 18 month BT offer|
|Best for travel||Capital One® Venture® Rewards Credit Card|
How we chose the best low interest cards
We chose cards from our partners that have low starting interest rates that you may qualify for if you have good or excellent credit. The majority of the cards on this list have no annual fee and provide additional value beyond the low starting rate. Benefits provided by some of the cards on this list include rewards, 0% intro periods, no foreign transaction fees and more.
Best overall low interest card
Best for: If you’re looking for a comprehensive low interest card, The Amex EveryDay® Credit Card from American Express offers numerous benefits including rewards at the places you like to shop, dine, travel, and more.
Why we like it: Interest rates aside, this card has some great features. There is a $0 annual fee and you can earn rewards at a rate of 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases. In addition, there are 0% intro periods that allow you to make a large purchase or transfer debt without accruing interest. Utilize the intro 0% for 15 Months for purchases and intro 0% for 15 Months for balance transfers if needed. After the intro periods end, a 14.74%-25.74% Variable APR applies. An added perk of completing a balance transfers is the $0 balance transfer fee. Just remember to transfer balances within the first 60 days of account opening so you don’t miss out on the intro period.
Other benefits: When you use your card to make at least 20 transactions in a billing period, you earn 20% extra points on those purchases. And, you have the flexibility to transfer points to participating frequent traveler programs, mostly on a 1:1 basis. Earn 10,000 Membership Rewards® points after you use your new Card to make $1,000 in purchases in your first 3 months.
Read our review of the The Amex EveryDay® Credit Card from American Express here.
Best for balance transfers: Discover it® Balance Transfer
Best for: If you’re looking to transfer a balance from an existing non-Discover card, the Discover it® Balance Transfer provides the chance to get out of debt while earning cash back.
Why we like it: This card has a lengthy intro period for balance transfers at intro 0% for 18 Months and a regular APR of 13.49% - 24.49% Variable. This is a great length of time for you to pay off balances transferred from a non-Discover card without racking up interest. And, the regular APR is reasonable if you qualify for the lowest rate. Keep in mind there is a 3% balance transfer fee, but this could easily be outweighed by the amount you save on interest. This card also has a $0 annual fee and comes with a cashback program where you can earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. 1% unlimited cash back automatically on all other purchases.
Other benefits: Discover offers 100% U.S.-based customer service available any time you call, no foreign transaction fees, fraud monitoring services and more. Also, Discover will automatically match all the cash back you earn at the end of your first year.*
Read our review of the Discover it® Balance Transfer here.
Best for large purchases: Citi Simplicity® Card - No Late Fees Ever
Best for: If you plan on making a large purchase like a TV or laptop soon, the Citi Simplicity® Card - No Late Fees Ever can provide you with the ability to pay off new purchases over time during its intro 0%* for 18 months on Purchases* (after, 15.49% - 25.49%* (Variable) APR).
Why we like it: The Citi Simplicity® Card - No Late Fees Ever offers a long intro 0%* for 18 months on Purchases*. This can provide plenty of time to pay off lingering debt from new purchases, and is better than racking up debt on a card without a 0% intro period. After the intro period ends, an APR of 15.49% - 25.49%* (Variable) applies. This card also has a $0* annual fee and no late fees or penalty rates. While these features are helpful, we recommend paying your balance in full before the intro period ends. But if you don’t, the low starting interest rate is decent — as long as you qualify for it.
Other benefits: Register eligible purchases you make with your card on Citi® Price Rewind, and a 60-day search will be conducted to look for a lower price. If a lower price is found, you may be reimbursed for the difference between what you paid and the price found.
Read our review of the Citi Simplicity® Card - No Late Fees Ever here.
Best for rewards: Citi® Double Cash Card – 18 month BT offer
Best for: If you tend to carry a balance but want to earn rewards on new purchases, the Citi® Double Cash Card – 18 month BT offer can be a good option that also encourages you to make timely payments.
Why we like it: This card has a $0* annual fee and offers a unique cashback program — earn 1% cash back when you buy and 1% cash back as you pay for those purchases. Instead of typical cards that give you the full amount of cash back when you make a purchase, the Citi® Double Cash Card – 18 month BT offer requires you to both make a purchase and pay for it to earn the full cash back. This is a great incentive to pay your bills as soon as possible. But if you still carry a balance, the regular purchase APR is reasonable at 14.99% - 24.99%* (Variable) — especially if you qualify for the lowest rate. Take note that you can still earn the 1% cash back from purchases if you pay over time, just be sure to make at least the minimum payment each month.
Other benefits: Eligible purchases may benefit from Citi® Price Rewind, which conducts a 60-day search for a lower price and if a lower price is found, Citi may reimburse you for the difference between what you paid and the price found. Citi® Private Pass® provides special access to various entertainment, sports and dining events in select cities.
Read our review of the Citi® Double Cash Card – 18 month BT offer here.
Best for travel: Capital One® Venture® Rewards Credit Card
Best for: If you travel frequently — either in the U.S. or abroad — you can benefit from the rewards and travel benefits the Capital One® Venture® Rewards Credit Card provides.
Why we like it: This card has no foreign transaction fees and a flat-rate rewards program suited for all types of travelers. Earn 2 Miles per dollar on every purchase, every day. Also, you can earn 10 miles per dollar at hotels.com/venture when you use your card. Offer valid through Jan. 31, 2020. The rewards you earn can conveniently be redeemed as a statement credit for travel purchases, as long as you make the redemption within 90 days from when the purchase posted. While there is an annual fee — $0 intro for first year; $95 after that — you can recoup it by spending $4,750 a year (after year one).
Other benefits: Access over 900 hotels with the Visa Signature Luxury Hotel Collection, and benefit from lost luggage reimbursement, travel accident insurance and more when you use your card. Also, there’s a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel.
Read our review of the Capital One® VentureOne® Rewards Credit Card here.
Learn More: How to use a low interest card
Low interest cards can be a good asset for people who tend to carry a balance month to month and don’t want to rack up huge interest charges. Follow the tips below so you get the most value out of your low interest card.
- Don’t overspend. A good rule of thumb is don’t spend more than you can afford to pay by your statement due date. But since you’re looking for a low interest card, odds are this may not be feasible. So, try to limit spending to things you need to charge and if your card offers rewards, avoid excess spending just to earn rewards.
- Set up autopay for a set amount. If you know you can consistently make a set payment each month, like $200, set up autopay for that amount. This does three things: 1. Ensures you pay on time; 2. Makes at least your minimum due; and 3. Decreases your debt more by only paying the minimum due.
- Pay on time. If you decide not to set up autopay — which we strongly encourage — make sure you pay on time. Paying late can result in a cancellation of any 0% intro offers your card may offer.
- Transfer balances soon. If you’re utilizing a card with a 0% intro period for balance transfers, make sure you transfer your balance soon after opening the card. Most intro offers are only available for a short period of time, typically 60 days. Refer to your cardmember agreement for the exact time you have to qualify for the 0% intro period.
- Continue to make payments on any transferred balances until the transfer posts to your account. This tip applies if you requested a balance transfer. Typical balance transfers take 14 days to process and in that time you may have a payment due on your old card. So, continue making payments until your transfer officially posts to your new card.