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Best Low Interest Credit Cards for May 2022

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated April 30, 2022 . Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

If you’re looking for a credit card with a low interest rate, the Lake Michigan Credit Union Prime Platinum is our top choice. It charges a $0 annual fee and offers the chance to qualify for one of the lowest interest rates we’ve found at a 6.25%-18% variable APR. Finally, while some credit unions have restrictive membership requirements, Lake Michigan Credit Union makes it easy for anyone to join.
Best Low Interest Credit Cards for May 2022
Our top pick for lowest interest rate Lake Michigan Credit Union Prime Platinum
Our runner-up for lowest interest rate DCU Visa® Platinum Credit Card
Best low interest credit card if you have a military connection USAA® Rate Advantage Visa Platinum® Card
Best low interest credit card for small business owners PNC Visa® Business Credit Card
Best low interest credit card if you have bad credit DCU Visa® Platinum Secured Credit Card
Best low interest credit card with no credit union membership Simmons Visa®
Best 0% intro APR credit card with no balance transfer fee Navy Federal Platinum Credit Card
Best 0% intro APR credit card for a long intro on balance transfers Citi Simplicity® Card
Best 0% intro APR credit card for a long intro on purchases Wells Fargo Reflect℠ Card
Best 0% intro APR credit card for earning a sign-up bonus BankAmericard® credit card

A low interest credit card can help you save money if you sometimes carry a balance from month to month. While the interest rate (also called the APR) on some credit cards can be over 20% or even close to 30%, we’ve rounded up several credit cards with interest rate ranges that start around or even below 10%.

We’ve also rounded up a few credit cards with 0% intro APR periods, during which you’re charged no interest at all. However, note that once your intro period ends, interest will accrue at the regular APR.

Best For Our top pick for lowest interest rate

Lake Michigan Credit Union Prime Platinum

Highlights
  • No annual fee
  • Credit line of up to $25,000
  • Interest rate as low as 6.25%
  • Free car rental insurance

The Lake Michigan Credit Union Prime Platinum boasts one of the lowest APRs available (6.25%-18% variable APR) and has a $0 annual fee.

Other than an exceptionally low APR, the Lake Michigan Credit Union Prime Platinum is a pretty plain vanilla credit card. It has no rewards, no sign-up bonus and not much in the way of benefits. Also be aware there’s a 1% foreign transaction fee, so if you’re traveling abroad, leave this card at home.

If you’re willing to go through the steps to join a credit union, and you tend to carry a balance from time to time, the Lake Michigan Credit Union Prime Platinum could be ideal for you. With an APR of 6.25%-18% variable APR, it has the lowest regular interest rate of any card we’ve found that isn’t restricted to applicants with a military connection.

Just know there’s no intro APR offer on either purchases or balance transfers, and you’ll need a excellent credit score to have a shot at getting the lowest interest rate.

The card is offered by Lake Michigan Credit Union, and while some credit unions have strict membership requirements, you can join this one for a $5 donation to the ALS Foundation through the credit union’s website. Other ways to qualify include if you’re a resident of Michigan’s lower peninsula or Florida, or if you have immediate family who are already members.

  • Car rental insurance
  • Emergency card replacement
  • Credit line up to $25,000

The Lake Michigan Credit Union Prime Platinum boasts one of the lowest APRs available (6.25%-18% variable APR) and has a $0 annual fee.

Other than an exceptionally low APR, the Lake Michigan Credit Union Prime Platinum is a pretty plain vanilla credit card. It has no rewards, no sign-up bonus and not much in the way of benefits. Also be aware there’s a 1% foreign transaction fee, so if you’re traveling abroad, leave this card at home.

If you’re willing to go through the steps to join a credit union, and you tend to carry a balance from time to time, the Lake Michigan Credit Union Prime Platinum could be ideal for you. With an APR of 6.25%-18% variable APR, it has the lowest regular interest rate of any card we’ve found that isn’t restricted to applicants with a military connection.

Just know there’s no intro APR offer on either purchases or balance transfers, and you’ll need a excellent credit score to have a shot at getting the lowest interest rate.

The card is offered by Lake Michigan Credit Union, and while some credit unions have strict membership requirements, you can join this one for a $5 donation to the ALS Foundation through the credit union’s website. Other ways to qualify include if you’re a resident of Michigan’s lower peninsula or Florida, or if you have immediate family who are already members.

  • Car rental insurance
  • Emergency card replacement
  • Credit line up to $25,000
The information related to the Lake Michigan Credit Union Prime Platinum has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Best For Our runner-up for lowest interest rate

DCU Visa® Platinum Credit Card

Highlights
  • APR as low as 8.75%
  • No annual fee
  • No cash advance fee
  • No balance transfer fee
  • No foreign transaction fee

While the interest rate isn’t as low as the Lake Michigan Credit Union Prime Platinum, the DCU Visa® Platinum Credit Card still offers a very low APR of 8.75% - 18.00% variable.

Plus, it gives cardholders peace of mind with its lack of fees (but note that one fee you can still incur is a late payment fee, which is up to $35 — and a penalty APR may be applied to your account if you miss a payment as well).

If you’re willing to take the steps to join a credit union and you’re looking for a low interest rate, this is an excellent card to consider. Some credit unions are difficult to join due to membership requirements, but Digital Federal Credit Union (DCU) makes it easy.

If you don’t qualify based on where you live, through a relationship to a current DCU member, or via one of the numerous participating employers, you can join one of DCU’s partner organizations. For example, one partner is Reach Out for Schools, a nonprofit organization that raises money for classrooms and programs that benefit students. Membership starts at $10.

There is no sign-up bonus or rewards with this card, but know that the DCU Visa® Platinum Credit Card doesn’t burden you with fees. In addition to not charging fees for balance transfers or cash advances, you won’t be charged with over-limit or returned payment fees.

  • Use your card with Apple Pay®, Google Pay™ and Samsung® Pay.

While the interest rate isn’t as low as the Lake Michigan Credit Union Prime Platinum, the DCU Visa® Platinum Credit Card still offers a very low APR of 8.75% - 18.00% variable.

Plus, it gives cardholders peace of mind with its lack of fees (but note that one fee you can still incur is a late payment fee, which is up to $35 — and a penalty APR may be applied to your account if you miss a payment as well).

If you’re willing to take the steps to join a credit union and you’re looking for a low interest rate, this is an excellent card to consider. Some credit unions are difficult to join due to membership requirements, but Digital Federal Credit Union (DCU) makes it easy.

If you don’t qualify based on where you live, through a relationship to a current DCU member, or via one of the numerous participating employers, you can join one of DCU’s partner organizations. For example, one partner is Reach Out for Schools, a nonprofit organization that raises money for classrooms and programs that benefit students. Membership starts at $10.

There is no sign-up bonus or rewards with this card, but know that the DCU Visa® Platinum Credit Card doesn’t burden you with fees. In addition to not charging fees for balance transfers or cash advances, you won’t be charged with over-limit or returned payment fees.

  • Use your card with Apple Pay®, Google Pay™ and Samsung® Pay.
The information related to the DCU Visa® Platinum Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Best For Low interest rate if you have a military connection

USAA® Rate Advantage Visa Platinum® Card

Highlights
  • Enjoy USAA's lowest rate card
  • No annual fee, no foreign transaction fees, no penalty APR
  • USAA membership is available to active and former military and their eligible family members

If you typically carry a balance on your credit card or if you’re planning to finance a big-ticket item, a low interest rate credit card like the $0-annual-fee USAA® Rate Advantage Visa Platinum® Card should be on your radar.

The USAA® Rate Advantage Visa Platinum® Card offers a very low starting APR, but beware that the range is quite wide: 6.90% - 23.90% variable.

Plus, this card has a $0 foreign transaction fee, so it’s a fine choice to take if traveling abroad.

The USAA® Rate Advantage Visa Platinum® Card is only available to USAA members. To be eligible, you must be serving in the U.S. Air Force, Army, Coast Guard, Marines, Navy National Guard or Reserve. You can also qualify if you are a veteran, cadet or midshipman — or an eligible family member.

If you qualify for USAA membership (active military, former military, a cadet or midshipman or an eligible family member), you are eligible to apply for the USAA® Rate Advantage Visa Platinum® Card — which offers a chance for a very low ongoing interest rate.

It also comes with more robust benefits than you’ll typically find on a low interest credit card.

But be aware this card lacks a rewards program, so you won’t be able to earn points or cash back on your purchases. If you are interested in earning rewards, there are other USAA cards to choose from, such as the USAA® Cashback Rewards Plus American Express® Card.

The USAA® Rate Advantage Visa Platinum® Card does not offer a 0% intro APR either.

  • Auto rental collision damage waiver
  • Travel emergency assistance
  • Trip cancellation and interruption insurance
  • Travel accident insurance
  • Baggage delay reimbursement
  • Extended warranty protection

If you typically carry a balance on your credit card or if you’re planning to finance a big-ticket item, a low interest rate credit card like the $0-annual-fee USAA® Rate Advantage Visa Platinum® Card should be on your radar.

The USAA® Rate Advantage Visa Platinum® Card offers a very low starting APR, but beware that the range is quite wide: 6.90% - 23.90% variable.

Plus, this card has a $0 foreign transaction fee, so it’s a fine choice to take if traveling abroad.

The USAA® Rate Advantage Visa Platinum® Card is only available to USAA members. To be eligible, you must be serving in the U.S. Air Force, Army, Coast Guard, Marines, Navy National Guard or Reserve. You can also qualify if you are a veteran, cadet or midshipman — or an eligible family member.

If you qualify for USAA membership (active military, former military, a cadet or midshipman or an eligible family member), you are eligible to apply for the USAA® Rate Advantage Visa Platinum® Card — which offers a chance for a very low ongoing interest rate.

It also comes with more robust benefits than you’ll typically find on a low interest credit card.

But be aware this card lacks a rewards program, so you won’t be able to earn points or cash back on your purchases. If you are interested in earning rewards, there are other USAA cards to choose from, such as the USAA® Cashback Rewards Plus American Express® Card.

The USAA® Rate Advantage Visa Platinum® Card does not offer a 0% intro APR either.

  • Auto rental collision damage waiver
  • Travel emergency assistance
  • Trip cancellation and interruption insurance
  • Travel accident insurance
  • Baggage delay reimbursement
  • Extended warranty protection
The information related to the USAA® Rate Advantage Visa Platinum® Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Best For Low interest rate for small business owners

PNC Visa® Business Credit Card

Highlights
  • 0% intro APR on balance transfers for 13 months, after which a 9.99% – 19.99% variable APR applies
  • Set spending limits on employee cards
  • No annual fee

The PNC Visa® Business Credit Card comes with an intro APR on balance transfers and a reasonable ongoing APR for purchases.

On balance transfers, enjoy an intro 0% APR for 13 billing cycles on balances transferred within the first 90 days following account opening. After, a 10.24%-20.24% variable APR applies. The balance transfer fee is either $5 or 3% of the amount of each balance transfer, whichever is greater.

Purchases don’t come with an intro APR; the regular purchase APR is 10.24%-20.24% variable.

The card’s annual fee is $0 .

The PNC Visa® Business Credit Card is best for small business owners looking to transfer debt from another card and enjoy a window of more than a year with no interest, or who just need a business card for purchases that comes with a reasonable ongoing APR.

Do note that the card is fairly no-frills, and doesn’t offer rewards or a sign-up bonus.

  • Set individual spending limits on employee cards
  • Download transaction history into Excel®, Quicken® or QuickBooks, or as .csv files

The PNC Visa® Business Credit Card comes with an intro APR on balance transfers and a reasonable ongoing APR for purchases.

On balance transfers, enjoy an intro 0% APR for 13 billing cycles on balances transferred within the first 90 days following account opening. After, a 10.24%-20.24% variable APR applies. The balance transfer fee is either $5 or 3% of the amount of each balance transfer, whichever is greater.

Purchases don’t come with an intro APR; the regular purchase APR is 10.24%-20.24% variable.

The card’s annual fee is $0 .

The PNC Visa® Business Credit Card is best for small business owners looking to transfer debt from another card and enjoy a window of more than a year with no interest, or who just need a business card for purchases that comes with a reasonable ongoing APR.

Do note that the card is fairly no-frills, and doesn’t offer rewards or a sign-up bonus.

  • Set individual spending limits on employee cards
  • Download transaction history into Excel®, Quicken® or QuickBooks, or as .csv files
The information related to the PNC Visa® Business Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Best For Low interest rate if you have bad credit

DCU Visa® Platinum Secured Credit Card

Highlights
  • APR as low as 11.75%
  • No annual fee
  • No balance transfer fee
  • No cash advance fee
  • No foreign transaction fee

If you need to rebuild your credit score, a secured credit card is a good tool to help you do that. Secured cards require that you submit a security deposit to the issuer – for example, if you want a $200 credit limit, you’ll have to submit a $200 deposit. Many secured cards come with high APRs, but the DCU Visa® Platinum Secured Credit Card is one with a low interest rate, at just 11.75% variable.

In a world where many secured cards have interest rates of well above 20%, the DCU Visa® Platinum Secured Credit Card has the potential to save you a significant chunk of money if you have to carry a small balance once in a while. Plus, the DCU Visa® Platinum Secured Credit Card has an annual fee of $0.

Note the minimum deposit is $500, which is higher than the $200 minimum many secured cards require.

The DCU Visa® Platinum Secured Credit Card is aimed at consumers who cannot qualify for a regular, unsecured card because they either lack a credit history or need to rebuild their credit.

There is no sign-up bonus or rewards program, but compared to other secured cards on the market, the DCU Visa® Platinum Secured Credit Card has a very reasonable APR. In exchange for that lower APR, however, applicants will be required to submit a higher minimum security deposit of $500. The DCU Visa® Platinum Secured Credit Card also doesn’t assess fees for cash advances, foreign transactions or balance transfers.

Note that just like the DCU Visa® Platinum Credit Card, you’ll have to join a credit union — but DCU’s membership requirements make it easy for virtually anyone to join.

  • Use your card with Apple Pay®, Google Pay™, and Samsung® Pay.

If you need to rebuild your credit score, a secured credit card is a good tool to help you do that. Secured cards require that you submit a security deposit to the issuer – for example, if you want a $200 credit limit, you’ll have to submit a $200 deposit. Many secured cards come with high APRs, but the DCU Visa® Platinum Secured Credit Card is one with a low interest rate, at just 11.75% variable.

In a world where many secured cards have interest rates of well above 20%, the DCU Visa® Platinum Secured Credit Card has the potential to save you a significant chunk of money if you have to carry a small balance once in a while. Plus, the DCU Visa® Platinum Secured Credit Card has an annual fee of $0.

Note the minimum deposit is $500, which is higher than the $200 minimum many secured cards require.

The DCU Visa® Platinum Secured Credit Card is aimed at consumers who cannot qualify for a regular, unsecured card because they either lack a credit history or need to rebuild their credit.

There is no sign-up bonus or rewards program, but compared to other secured cards on the market, the DCU Visa® Platinum Secured Credit Card has a very reasonable APR. In exchange for that lower APR, however, applicants will be required to submit a higher minimum security deposit of $500. The DCU Visa® Platinum Secured Credit Card also doesn’t assess fees for cash advances, foreign transactions or balance transfers.

Note that just like the DCU Visa® Platinum Credit Card, you’ll have to join a credit union — but DCU’s membership requirements make it easy for virtually anyone to join.

  • Use your card with Apple Pay®, Google Pay™, and Samsung® Pay.
The information related to the DCU Visa® Platinum Secured Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Best For Low interest rate with no credit union membership

Simmons Visa®

Highlights
  • $0 annual fee
  • 0% Intro APR for 12 months on balance transfers completed within 60 days of account opening. After that, 10.25% to 18.25% APR variable.
  • 10.25% to 18.25% Variable Purchase APR

The Simmons Visa® offers a 0% intro APR period on balance transfers and a reasonable regular APR, too.

Cardholders get a 0% intro APR for 12 months on balance transfers completed within 60 days of account opening, after which a 10.25% to 18.25% variable  APR applies. The balance transfer fee is either $10 or 3% of the amount of each balance transfer, whichever is greater .

There’s no intro APR on purchases, so you’ll start immediately at the regular purchase APR of 10.25% to 18.25% variable. That’s relatively low, especially if you qualify for an interest rate at the lower end of the range.

The annual fee is $0, but beware the foreign transaction fee of 2% of each transaction in US dollars.

This card doesn’t earn rewards or offer a sign-up bonus.

If you want a low interest credit card and you don’t want to go through the steps to join one of the credit unions mentioned here, you may want to check out the Simmons Visa®, issued by an Arkansas-based regional bank. Simmons Bank started in Pine Bluff, Arkansas in 1903 and now operates in six states.

The Simmons Visa® comes with a year to pay off transferred debt without accruing interest, and the regular APR is comparatively low as well.

  • Up to $1 million travel accident insurance
  • Car rental coverage

The Simmons Visa® offers a 0% intro APR period on balance transfers and a reasonable regular APR, too.

Cardholders get a 0% intro APR for 12 months on balance transfers completed within 60 days of account opening, after which a 10.25% to 18.25% variable  APR applies. The balance transfer fee is either $10 or 3% of the amount of each balance transfer, whichever is greater .

There’s no intro APR on purchases, so you’ll start immediately at the regular purchase APR of 10.25% to 18.25% variable. That’s relatively low, especially if you qualify for an interest rate at the lower end of the range.

The annual fee is $0, but beware the foreign transaction fee of 2% of each transaction in US dollars.

This card doesn’t earn rewards or offer a sign-up bonus.

If you want a low interest credit card and you don’t want to go through the steps to join one of the credit unions mentioned here, you may want to check out the Simmons Visa®, issued by an Arkansas-based regional bank. Simmons Bank started in Pine Bluff, Arkansas in 1903 and now operates in six states.

The Simmons Visa® comes with a year to pay off transferred debt without accruing interest, and the regular APR is comparatively low as well.

  • Up to $1 million travel accident insurance
  • Car rental coverage
The information related to the Simmons Visa® has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Best For 0% intro APR with no balance transfer fee

Navy Federal Platinum Credit Card

Highlights
  • Intro 0% APR on balance transfers for 12 months
  • After the intro period, a 5.99% - 18.00% variable APR applies
  • No balance transfer fee
  • No annual fee

The Navy Federal Platinum Credit Card stands out for its $0 balance transfer fee, and comes with a solid 0% intro APR for 12 months on balance transfers made within 30 days of account opening. After the introductory period ends, a 5.99% to 18.00% variable APR will apply. There’s no intro APR on purchases, so you start out immediately at the regular purchase APR of 5.99% to 18.00% variable.

This card doesn’t earn rewards or offer a sign-up bonus, but the annual fee is $0 and the foreign transaction fee is $0, too. Note that to apply, you must be a Navy Federal Credit Union (NFCU) member.

Membership is open to active duty military members, retired military and veterans, eligible family members, and civilian personnel employed by the United States Department of Defense.

If you need a credit card with no balance transfer fee and you’re eligible to join NFCU (military and veterans, family members, and DOD civilians), the Navy Federal Platinum Credit Card is an excellent tool to help you pay off transferred debt.

However, be aware that this card’s 0% intro APR period is shorter than you may find with other balance transfer cards (but those cards will typically charge a 3% to 5% balance transfer fee).

Also, at 5.99% to 18.00% variable, you’ve got a shot at a regular APR lower than any other card on this list — even the Lake Michigan Credit Union Prime Platinum. If you qualify for NFCU membership and you’re looking for a credit card with a great balance transfer offer and a low ongoing APR, the Navy Federal Platinum Credit Card should be at the top of your list.

  • Free access to your FICO® Score (when you enable this feature)
  • Collision damage waiver
  • Travel and emergency assistance

The Navy Federal Platinum Credit Card stands out for its $0 balance transfer fee, and comes with a solid 0% intro APR for 12 months on balance transfers made within 30 days of account opening. After the introductory period ends, a 5.99% to 18.00% variable APR will apply. There’s no intro APR on purchases, so you start out immediately at the regular purchase APR of 5.99% to 18.00% variable.

This card doesn’t earn rewards or offer a sign-up bonus, but the annual fee is $0 and the foreign transaction fee is $0, too. Note that to apply, you must be a Navy Federal Credit Union (NFCU) member.

Membership is open to active duty military members, retired military and veterans, eligible family members, and civilian personnel employed by the United States Department of Defense.

If you need a credit card with no balance transfer fee and you’re eligible to join NFCU (military and veterans, family members, and DOD civilians), the Navy Federal Platinum Credit Card is an excellent tool to help you pay off transferred debt.

However, be aware that this card’s 0% intro APR period is shorter than you may find with other balance transfer cards (but those cards will typically charge a 3% to 5% balance transfer fee).

Also, at 5.99% to 18.00% variable, you’ve got a shot at a regular APR lower than any other card on this list — even the Lake Michigan Credit Union Prime Platinum. If you qualify for NFCU membership and you’re looking for a credit card with a great balance transfer offer and a low ongoing APR, the Navy Federal Platinum Credit Card should be at the top of your list.

  • Free access to your FICO® Score (when you enable this feature)
  • Collision damage waiver
  • Travel and emergency assistance
The information related to the Navy Federal Platinum Credit Card has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Best For Long 0% intro APR on balance transfers

Citi Simplicity<sup>®</sup> Card

Citi Simplicity® Card

Apply Now
on Citibank's secure site
Intro Purchase APR 0% for 12 months on Purchases
Annual Fee $0
Regular Purchase APR 15.49% - 25.49% (Variable)

If you need a long period of time to pay off transferred credit card debt without incurring interest charges, the $0-annual-fee Citi Simplicity® Card could be a great fit.

Cardholders get a decent window of intro APR on purchases and an exceptionally long intro APR on balance transfers with the Citi Simplicity® Card . Just be aware that a relatively high balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.

  • 0% for 12 months on purchases. After, a 15.49% - 25.49% (variable) APR applies.
  • 0% for 21 months on balance transfers. After, a 15.49% - 25.49% (variable) APR applies.

The Citi Simplicity® Card , issued by our partner Citi, is a great option if you have a large amount of high interest debt that you need to pay down, or if you have a tendency to miss your payment due date.

Along with offering one of the longest introductory periods currently available for balance transfers, the card provides helpful tools, such as automatic account alerts and the ability to choose your payment due date. And, if you do happen to pay your bill late, you will not be hit with late fees or penalty APRs. However, the intro period on purchases is just OK.

You won’t earn a sign-up bonus or rewards on the purchases you make with the Citi Simplicity® Card . That said, it’s best to prioritize paying off your full balance before the intro purchase or balance transfer offer ends over earning rewards on new purchases, and this card gives you almost two years to do so.

Finally, if traveling abroad, be aware there is a foreign transaction fee of 3% of each purchase transaction after its conversion into U.S. dollars.

  • Citi® Identity Theft Solutions. You can contact a Citi® Identity Theft Solution Specialist to assist you with identifying compromised accounts and advise you on filing police reports and taking steps to recover from identity theft.
  • 24/7 customer service. Get help with almost any account question by calling the customer service number on the back of your card and speaking with a representative at any time.
  • Automatic account alerts. Set up alerts to remind you about balance levels, payment due dates and when you go over your limit.

If you need a long period of time to pay off transferred credit card debt without incurring interest charges, the $0-annual-fee Citi Simplicity® Card could be a great fit.

Cardholders get a decent window of intro APR on purchases and an exceptionally long intro APR on balance transfers with the Citi Simplicity® Card . Just be aware that a relatively high balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.

  • 0% for 12 months on purchases. After, a 15.49% - 25.49% (variable) APR applies.
  • 0% for 21 months on balance transfers. After, a 15.49% - 25.49% (variable) APR applies.

The Citi Simplicity® Card , issued by our partner Citi, is a great option if you have a large amount of high interest debt that you need to pay down, or if you have a tendency to miss your payment due date.

Along with offering one of the longest introductory periods currently available for balance transfers, the card provides helpful tools, such as automatic account alerts and the ability to choose your payment due date. And, if you do happen to pay your bill late, you will not be hit with late fees or penalty APRs. However, the intro period on purchases is just OK.

You won’t earn a sign-up bonus or rewards on the purchases you make with the Citi Simplicity® Card . That said, it’s best to prioritize paying off your full balance before the intro purchase or balance transfer offer ends over earning rewards on new purchases, and this card gives you almost two years to do so.

Finally, if traveling abroad, be aware there is a foreign transaction fee of 3% of each purchase transaction after its conversion into U.S. dollars.

  • Citi® Identity Theft Solutions. You can contact a Citi® Identity Theft Solution Specialist to assist you with identifying compromised accounts and advise you on filing police reports and taking steps to recover from identity theft.
  • 24/7 customer service. Get help with almost any account question by calling the customer service number on the back of your card and speaking with a representative at any time.
  • Automatic account alerts. Set up alerts to remind you about balance levels, payment due dates and when you go over your limit.

Best For Long 0% intro APR on purchases

Wells Fargo Reflect℠ Card

Wells Fargo Reflect℠ Card

Apply Now
on Wells Fargo's secure site
Intro Purchase APR 0% intro APR up to 21 months from account opening
Annual Fee $0
Regular Purchase APR 13.74%-25.74% Variable APR

If you plan on making a large purchase soon, like a new appliance or laptop, the Wells Fargo Reflect℠ Card offers the opportunity to pay off new purchases for almost two years without incurring interest charges.

With an intro APR offer of 0% intro APR up to 21 months from account opening on purchases, the Wells Fargo Reflect℠ Card can help you spread payments out during that window of time. After, a 13.74%-25.74% Variable APR applies.

The way the intro APR works on this card is that cardholders get an initial intro period of 18 months, and by making on-time minimum payments, have a chance to earn an extension of up to three months.

You don’t have to worry about an annual fee because it’s $0.

The card also offers 0% intro APR up to 21 months from account opening on qualifying balance transfers, after which a 13.74%-25.74% Variable APR applies. The balance transfer fee is 3% for 120 days from account opening, then up to 5%; min: $5.

The Wells Fargo Reflect℠ Card is best for consumers who need a long time to pay off new purchases or transfer balances and aren’t looking for rewards or a sign-up bonus. It’s a no-frills card, but what it does, it does exceedingly well — by offering almost two years of no interest so cardholders have time to pay off debt. Just know if you’ve opened any other Wells Fargo credit card in the past 15 months, you might not qualify for this card’s intro APR. And if you’ve opened a Wells Fargo card in the past six months, you might be denied for this card entirely.

  • Cellphone protection up to $600 (with a $25 deductible)
  • Roadside dispatch by calling 800-847-2869

If you plan on making a large purchase soon, like a new appliance or laptop, the Wells Fargo Reflect℠ Card offers the opportunity to pay off new purchases for almost two years without incurring interest charges.

With an intro APR offer of 0% intro APR up to 21 months from account opening on purchases, the Wells Fargo Reflect℠ Card can help you spread payments out during that window of time. After, a 13.74%-25.74% Variable APR applies.

The way the intro APR works on this card is that cardholders get an initial intro period of 18 months, and by making on-time minimum payments, have a chance to earn an extension of up to three months.

You don’t have to worry about an annual fee because it’s $0.

The card also offers 0% intro APR up to 21 months from account opening on qualifying balance transfers, after which a 13.74%-25.74% Variable APR applies. The balance transfer fee is 3% for 120 days from account opening, then up to 5%; min: $5.

The Wells Fargo Reflect℠ Card is best for consumers who need a long time to pay off new purchases or transfer balances and aren’t looking for rewards or a sign-up bonus. It’s a no-frills card, but what it does, it does exceedingly well — by offering almost two years of no interest so cardholders have time to pay off debt. Just know if you’ve opened any other Wells Fargo credit card in the past 15 months, you might not qualify for this card’s intro APR. And if you’ve opened a Wells Fargo card in the past six months, you might be denied for this card entirely.

  • Cellphone protection up to $600 (with a $25 deductible)
  • Roadside dispatch by calling 800-847-2869

Best For 0% intro APR and a sign-up bonus

BankAmericard<sup>®</sup> credit card

BankAmericard® credit card

Apply Now
on Bank Of America's secure site
Intro Purchase APR 0% Intro APR for 18 billing cycles for purchases
Annual Fee $0
Regular Purchase APR 13.24% - 23.24% Variable APR

The BankAmericard® credit card comes with lengthy 0% intro APR periods on both purchases and balance transfers, and cardholders have a chance to earn a sign-up bonus as well.

You’ll get a 0% Intro APR for 18 billing cycles for purchases, after which a 13.24% - 23.24% Variable APR applies. For the sign-up bonus: Earn a $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening.

There’s also a 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days. After, a 13.24% - 23.24% Variable APR on balance transfers applies. The balance transfer fee is reasonable at either $10 or 3% of the amount of each transaction, whichever is greater.

You’ll pay a $0 annual fee to carry the card, but beware the foreign transaction fee of 3%.

It’s possible to find longer 0% intro APR periods than this card has, but those offers typically don’t come with a sign-up bonus. And it’s possible to find higher sign-up bonuses than this card offers, but cards with higher bonuses typically have shorter intro APRs. The BankAmericard® credit card offers the best of both worlds, with lengthy intro APRs on both purchases and balance transfers and the opportunity to earn a decent sign-up bonus.

If you’re planning a big purchase, and would like to offset the cost a little bit while also avoiding interest charges, this is an excellent card for you. Plus, if your regular APR is set toward the lower end of the 13.24% - 23.24% Variable APR range, this card offers a reasonable ongoing APR as well.

  • Free FICO® Score access when you opt in
  • Use your card with Apple Pay®, Android Pay™ or Samsung Pay

The BankAmericard® credit card comes with lengthy 0% intro APR periods on both purchases and balance transfers, and cardholders have a chance to earn a sign-up bonus as well.

You’ll get a 0% Intro APR for 18 billing cycles for purchases, after which a 13.24% - 23.24% Variable APR applies. For the sign-up bonus: Earn a $100 statement credit online bonus after making at least $1,000 in purchases in the first 90 days of account opening.

There’s also a 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days. After, a 13.24% - 23.24% Variable APR on balance transfers applies. The balance transfer fee is reasonable at either $10 or 3% of the amount of each transaction, whichever is greater.

You’ll pay a $0 annual fee to carry the card, but beware the foreign transaction fee of 3%.

It’s possible to find longer 0% intro APR periods than this card has, but those offers typically don’t come with a sign-up bonus. And it’s possible to find higher sign-up bonuses than this card offers, but cards with higher bonuses typically have shorter intro APRs. The BankAmericard® credit card offers the best of both worlds, with lengthy intro APRs on both purchases and balance transfers and the opportunity to earn a decent sign-up bonus.

If you’re planning a big purchase, and would like to offset the cost a little bit while also avoiding interest charges, this is an excellent card for you. Plus, if your regular APR is set toward the lower end of the 13.24% - 23.24% Variable APR range, this card offers a reasonable ongoing APR as well.

  • Free FICO® Score access when you opt in
  • Use your card with Apple Pay®, Android Pay™ or Samsung Pay

Side-by-side comparison of the best low interest credit cards

Credit cardBest for
Lake Michigan Credit Union Prime PlatinumOur top pick for lowest interest rate6.25%-18% variable APR
DCU Visa® Platinum Credit CardOur runner-up for lowest interest rate8.75% - 18.00% variable
USAA® Rate Advantage Visa Platinum® CardLow interest credit card if you have a military connection6.90% - 23.90% variable
PNC Visa® Business Credit CardLow interest credit card for small business owners10.24%-20.24% variable on purchases. 0% APR for 13 billing cycles on balances transferred within the first 90 days following account opening. After, a 10.24%-20.24% variable APR applies.
DCU Visa® Platinum Secured Credit CardLow interest credit card if you have bad credit11.75% variable
Simmons Visa®Low interest credit card with no credit union membership10.25% to 18.25% variable
Navy Federal Platinum Credit Card0% intro APR credit card with no balance transfer fee5.99% to 18.00% variable on purchases. 0% intro APR for 12 months on balance transfers made within 30 days of account opening. After, a 5.99% to 18.00% variable APR applies.
Citi Simplicity® Card0% intro APR credit card for a long intro on balance transfers0% for 12 months on purchases. After, a 15.49% - 25.49% (variable) APR applies. 0% for 21 months on balance transfers. After, a 15.49% - 25.49% (variable) APR applies.
Wells Fargo Reflect℠ Card0% intro APR credit card for a long intro on purchases0% intro APR up to 21 months from account opening on purchases, after which a 13.74%-25.74% Variable APR applies. 0% intro APR up to 21 months from account opening on qualifying balance transfers, after which a 13.74%-25.74% Variable APR applies.
BankAmericard® credit card0% intro APR credit card for earning a sign-up bonus0% Intro APR for 18 billing cycles for purchases on purchases. After, a 13.24% - 23.24% Variable APR applies. 0% Intro APR for 18 billing cycles for any balance transfers made in the first 60 days on purchases. After, a 13.24% - 23.24% Variable APR on balance transfers applies.

How does credit card interest work?

The interest rate on your credit card is listed on your credit card statements is your annual percentage rate, or APR. If you want to understand your daily interest rate, just divide your APR by 365 (20%/365 = 0.055% daily interest rate), which will then be applied to your average daily balance (total balance each day/number of days in the billing cycle). Generally, you can expect to be charged interest if you don’t pay your balance off in full before the due date. However, most credit cards have a grace period where if you pay off your balance in full before the due date, you will not incur interest charges. Any balance remaining will be assessed interest.

What is a low interest credit card?

Credit card issuers will base your APR on a variety of factors. In general, the better your credit score, the more likely you are to be approved for a lower APR; however, there is no guarantee. A study by LendingTree found that the average APR offered to those with really good credit was 15.89%, while the average APR offered to those with bad credit was 23.21%.

In this article, we’ve identified credit cards with interest rates starting significantly lower than those averages. For example, the Lake Michigan Credit Union Prime Platinum is our top pick for the lowest interest rate because it comes with a 6.25%-18% variable APR.

Pros and cons of low interest credit cards

  • Can help you save on interest when carrying a balance
  • Are useful for managing large, unexpected expenses
  • Typically don’t earn rewards or offer many benefits
  • Require good to excellent credit for the lowest APR

How to get the most value out of a low interest or 0% APR card

Follow the tips below so you get the most value out of your low interest card:

  • Keep your balance under control. Even if you must carry a balance, don’t let that balance keep growing. Plan a concrete amount that you can pay each month and stick to it. If you can, make more than the minimum payment — because when you only pay the minimum, your payment goes toward both interest charges and the principal amount of your debt.
  • Pay on time. It’s important to pay at least the minimum due every month, as this is the top factor in building a good credit score. And if your card has a 0% intro APR, paying late could cause you to lose that intro rate. Setting up autopay is one way to ensure your bill is always paid on time.
  • Transfer balances quickly. If your card offers a 0% intro APR period on balance transfers, be aware that there might be a limited window of time to take advantage of the 0% APR offer. Many cards require you to transfer a balance within 60 days to qualify for the intro APR.
  • Continue to make payments on any transferred balances. If you request a balance transfer, be aware that you should continue making payments on your old card until the balance transfer payment goes through.

Low interest credit cards vs. 0% intro APR credit cards

What’s the difference between a low interest credit card and a 0% intro APR credit card? To put it simply, the former offers a low ongoing APR, while the latter offers an introductory period (generally from 12 to 21 months long) during which you’ll accrue no interest. Once the introductory period ends, interest will accrue at the regular APR for any balances you roll over from month to month.

If you know you can pay off your credit card debt within a specific time frame, a 0% intro APR credit card might be the best choice. When considering a 0% intro APR card, evaluate whether it offers an intro APR on purchases, balance transfers or both. Also determine how long of an intro period you’ll need and how much the balance transfer fee is if you’re looking to move debt from another card.

However, if you aren’t looking to pay down a set amount of debt from a big purchase or a balance transfer within a specific time frame, a low interest credit card might be better for your needs. The regular APR for some 0% intro APR cards can be quite high once it kicks in, so if you have to unexpectedly roll over a balance once in a while, you could still end up facing expensive interest charges. By contrast, a card with a low regular APR can help you save money because any interest charges incurred are likely to be more affordable.

Low interest credit card FAQs

For some financial products, such as car loans and mortgages, the interest rate and the APR can differ. However, for credit cards, they’re the same thing.

There’s no federal law limiting the APR a credit card company can charge, according to the Consumer Financial Protection Bureau (CFPB). However, companies are subject to state laws of the state where they’re headquartered.

If a credit card is issued by a credit union, it’s subject to a federal law that currently caps interest rates at 18%.

In short, yes. Most credit cards available these days are variable rate cards, which means their interest rates are tied to an index (typically the prime rate), and will increase or decrease as that index rate fluctuates. It’s commonly thought that the Federal Reserve sets the prime rate, but that’s not quite correct; rather, the prime rate is based on the federal funds target rate, which the Fed does determine.

Fixed-rate cards are less common than they used to be before the Credit CARD Act of 2009. Now, most credit cards are variable-rate cards, which means their APRs fluctuate based on an index such as the prime rate. However, you can sometimes still find fixed-rate credit cards these days, generally through credit unions.

Your APR should be listed on your credit card statement. If you can’t locate it, call the number on the back of your credit card to find out.

It’s important to know you should have a very good or exceptional credit score to have a good chance of getting the best rate a credit card has to offer. Generally, that’s considered a FICO Score between 740 and 850. If you have a lower score, even if you get approved for one of the cards on this list, the APR on your account might be set higher.

Probably not. Most credit cards with good 0% intro APR offers require a good credit score or better. A good credit score is one that’s anywhere from 670 to 739 — above that, and your score is considered very good or exceptional.

Methodology

The most important criterion in compiling this list was each credit card’s regular APR. The cards listed here don’t offer rewards or premium benefits, but they do offer low interest rates (at least for consumers with good enough credit scores to qualify for the best rates).

In addition, none of the cards here charge an annual fee. If you’re trying to save money with a low interest card, you probably don’t want to pay a fee just to carry your card.

We also considered accessibility. Many of the cards listed here require credit union membership; however, at least our top pick and the runner-up make it easy for anyone to join.

Finally, we included a selection of 0% intro APR credit cards. While these cards might not have the lowest regular APRs, for consumers who need a set window of time to pay off debt, they offer a chance to avoid interest charges entirely.

Glen Luke Flanagan

  • Expertise: Personal finance, credit scoring, credit cards
  • Education: Radford University, East Carolina University

 


 

Glen Luke Flanagan is a senior credit card writer for LendingTree. He joined the team in June 2019, and covers topics including new credit cards, how your credit score works and what you need to know about credit card interest.
 
Before joining LendingTree, Glen worked in journalism and government communications. As a journalist at newspapers in North Carolina and South Carolina, his reporting won awards from the North Carolina Press Association and the South Carolina Press Association, respectively.
 
Glen earned his bachelor’s degree in media studies with a concentration in journalism from Radford University, graduating summa cum laude in May 2014. He also earned a master’s degree in English with a concentration in technical and professional communication, as well as a graduate certificate in marketing, from East Carolina University in May 2022.

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