Best Low Interest Credit Cards
Low interest credit cards offer borrowers a lower annual percentage rate (APR) compared to standard credit cards. These cards are designed to help consumers save on interest charges, especially if they tend to carry a balance from month to month.
In more detail, low interest credit cards can be particularly beneficial for individuals who occasionally need to carry a balance over several billing cycles. The lower APR means that less interest accrues on the outstanding balance, making it easier to pay down debt more quickly and affordably. These cards often come with introductory offers, such as 0% APR for a certain period, which can provide significant savings on interest. However, it's important to be aware of any fees associated with the card, such as annual fees or balance transfer fees, as these can offset some of the financial benefits. Additionally, low interest credit cards may require a good to excellent credit score for approval, so consumers should ensure they meet the eligibility criteria before applying.
- Chase Freedom UnlimitedView All
Chase Freedom Unlimited - Cash-back credit card with no annual fee and rewards.
- Citi SimplicityView All
Citi Simplicity - No late fees, no annual fee, easy credit management.
- Discover it Cash BackView All
Discover it Cash Back - Cashback credit card with rotating bonus categories.
- Wells Fargo ReflectView All
Wells Fargo Reflect - Wells Fargo Reflect: Flexible credit card with rewards options.
- U.S. Bank Visa PlatinumView All
U.S. Bank Visa Platinum - Low interest, no annual fee credit card.
- BankAmericard Credit CardView All
BankAmericard Credit Card - Versatile credit card offering rewards and convenience.
- Capital One QuicksilverView All
Capital One Quicksilver - Cash-back credit card with no annual fee.
- HSBC Gold MastercardView All
HSBC Gold Mastercard - Premium credit card offering rewards and travel benefits.
- PNC Core VisaView All
PNC Core Visa - PNC Core Visa: Simple, no annual fee, cashback rewards card.
- Barclaycard Ring MastercardView All
Barclaycard Ring Mastercard - No-fee credit card with customizable features and rewards.
Best Low Interest Credit Cards
1.
Chase Freedom Unlimited
Pros
- No annual fee
- Unlimited 1.5% cash back
- Introductory bonus offer
- Flexible redemption options
- No foreign transaction fees.
Cons
- Higher interest rates
- Limited bonus categories
- Foreign transaction fees on some transactions
- Requires good credit
- Cashback redemption can be complex.
2.
Citi Simplicity
Pros
- No late fees
- No annual fee
- Simple application process
- Flexible payment options
- Access to credit score.
Cons
- High APR
- Limited rewards program
- No introductory offers
- No cash back
- Fewer perks compared to competitors.
3.
Discover it Cash Back
Pros
- Generous cash back rewards
- rotating categories
- no annual fee
- easy redemption options
- introductory bonus offer.
Cons
- Limited to specific categories
- requires activation each quarter
- foreign transaction fees
- may have lower cash back in some categories
- rewards can expire.
4.
Wells Fargo Reflect
Pros
- Rewards program
- No annual fee
- Introductory 0% APR
- Flexible payment options
- Mobile app features.
Cons
- High variable APR
- Limited rewards categories
- Foreign transaction fees
- Customer service complaints
- Fees for late payments.
5.
U.S. Bank Visa Platinum
Pros
- Low interest rate
- No annual fee
- Flexible payment options
- Access to credit monitoring
- Travel and purchase protections.
Cons
- Limited rewards program
- High penalty fees
- Foreign transaction fees
- Fewer perks compared to competitors
- Customer service issues reported.
6.
BankAmericard Credit Card
Pros
- No annual fee
- Rewards program
- Introductory APR offer
- Contactless payments
- Wide acceptance.
Cons
- High-interest rates
- Limited benefits
- Foreign transaction fees
- Balance transfer fees
- Customer service issues.
7.
Capital One Quicksilver
Pros
- Unlimited 1.5% cash back
- no annual fee
- straightforward rewards structure
- no foreign transaction fees
- easy redemption options.
Cons
- Limited bonus categories
- foreign transaction fees for certain cards
- lower cash back rate compared to competitors
- few travel perks
- higher APR for some users.
8.
HSBC Gold Mastercard
Pros
- Rewards on purchases
- global acceptance
- travel insurance benefits
- no foreign transaction fees
- flexible payment options.
Cons
- High annual fee
- limited rewards categories
- interest rates can be high
- potential foreign transaction complications
- customer service issues.
9.
PNC Core Visa
Pros
- Rewards program
- no annual fee
- travel benefits
- good customer service
- mobile banking features.
Cons
- Higher interest rates
- foreign transaction fees
- limited rewards categories
- less acceptance abroad
- potential for overspending.
10.
Barclaycard Ring Mastercard
Pros
- Low annual fee
- no foreign transaction fees
- rewards on purchases
- user-friendly mobile app
- community-driven features
Cons
- Limited rewards compared to competitors
- fewer redemption options
- high interest rates for carry balances
- not widely accepted internationally
- requires good credit score.