In addition to a competitive interest rate, cardholders can benefit from travel insurance, auto rental collision damage waiver and extended warranty protection. The budget includes six main categories: groceries ($5,174), gas ($2,218), dining out ($3,675), travel ($2,244), utilities ($4,862) and general purchases ($3,953). No Annual Fee. While that low rate can vary according to the card provider, you will usually find the purchase rate on these cards range from around 9 or 10% p.a. Apply online to take advantage of the offers on these cards & save money! A $500 minimum security deposit is required to access credit, which is higher than the average $200. Travel Rewards Credit Cards… As most cards have 44-55 days interest-free, you'll only pay interest if you carry a balance from month to month. The Equifax logo is a registered trademark owned by Equifax in the United States and other countries. It also got a place in our best low interest credit cards listing with nice features. Who's this for? A low interest rate credit card is a card that charges a low rate of interest on purchases. Low interest credit cards, also known as low APR (annual percentage rate) credit cards offer you the ability to borrow money over a long period while offering you low interest payments. That's almost like paying your original balance twice. However, we only chose cards from financial institutions that allow anyone to join. If you carry a balance, you can benefit from low interest charges compared to other cards that have high interest rates. You can redeem miles for past travel expenses using the Purchase Eraser®, which is essentially a statement credit. Build Credit. so check back soon to access your free credit scores, full credit report and more. Cardholders earn 2X points on groceries, gas, electronics, medical, household goods and telecommunications, and 1X points on all other purchases. First Tech pays the membership fee for the CHM and FFA on your behalf. Low apr credit cards. If you carry a balance on this card, interest charges will be smaller compared to some secured cards that have interest rates upwards of 20%. The Choice Rewards World Mastercard® from First Tech® Federal Credit Union offers a rewards program geared toward everyday expenses, such as groceries and gas. Additionally, with this card, it's possible to transfer your miles to any of Capital One's partner airlines, including JetBlue, Emirates Skywards, Air Canada and Air France. There's no annual fee. Balance Transfer Rate: % Intro APR for months. When you pay your cell phone bill with your card, you receive coverage for damage or theft up to $600, with a $25 deductible, for up to two claims ($1,200) per 12 month period. This method also avoids giving an unfair advantage to cards with large welcome bonuses. Follow the Experts. Low interest credit cards are a great way to avoid high interest charges if you carry a balance month-to-month. After that, the variable APR will be % - %, based on your creditworthiness. Another perk is the intro 0% APR period, which lasts for 12 months on new purchases. Below is a list of credit cards with ongoing low interest rates and low APR (notice that many of them are Credit Unions). We compared each card on a range of features, including: annual fee, rewards program, introductory and standard APR, balance transfer fee, welcome bonuses and foreign transaction fees, as well as factors such as required credit and customer reviews when available. Regions Premium Visa is one of our favorite cards in Credit Cards Center. You need to be a member of the Digital Federal Credit Union to open this card, but anyone can join in one of several ways: friend or family member of a DCU member, live in select communities, work for select employers or make a one-time contribution (as low as $10) to a participating organization. Cash back. Carrying a balance is never ideal, but it can happen to the best of us. Purchase Rate: % Intro APR for months. Some low interest credit cards come with a 0% introductory rate while others have a low, ongoing rate. Credit Karma are the property of their respective trademark holders. Our final picks are weighted heavily toward the highest five-year returns, since it's generally wise to hold onto a credit card for years. Information about the Titanium Rewards Visa® Signature Card from Andrews Federal Credit Union has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication. Information about the Platinum Mastercard® from First Tech® Federal Credit Union has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication. Product name, logo, brands, and other trademarks featured or referred to within Generally, you need to have good to excellent credit to qualify. While the five-year estimates we've included are derived from a budget similar to the average American's spending, you may earn a higher or lower return depending on your shopping habits. Typically, really low rates feature more on smaller providers such as credit unions and customer-owned banks. Below, CNBC Select reviews the top credit cards with low interest rates that can save you on interest charges while still earning rewards and enjoying other perks. Titanium Rewards Visa® Signature Card from Andrews Federal Credit Union, Platinum Mastercard® from First Tech® Federal Credit Union, Choice Rewards World Mastercard® from First Tech® Federal Credit Union, Capital One® VentureOne® Rewards Credit Card, Petal® 2 "Cash Back, No Fees" Visa® Credit Card, according to the latest data from the Fed, Titanium Rewards Visa® Signature Card from Andrews Federal Credit Union, Valentine's Day spending is expected to double since last year—here's who is splurging the most, Here’s how much the average couple is spending on a Covid wedding, Biden extends student loan payment freeze for 8 months—here's what experts say borrowers should do. Typically, a good or excellent score is required to receive the best rates. It's important to note the value of a point or mile varies from card to card and based on how you redeem them. No fee charged on purchases made outside the U.S. Credit union membership required, though it’s free, No special financing on purchases or balance transfers, 1.5% balance transfer fee, with a $50 minimum fee, 0% APR for the first 12 billing cycles on balance transfers, Balances must be transferred within 90 days from account opening, $500 minimum security deposit, which is higher than average, Credit union membership required, which may cost a minimum of $10 if you don’t qualify, No clear timeline to upgrade to an unsecured card, Good rewards program for everyday purchases, Balance must be transferred within 90 days of account opening date, 5X miles on hotel and rental cars booked through Capital One Travel℠, Miles never expire for the life of the account, No Global Entry or TSA PreCheck statement credit offerings, 20 months of no interest on balance transfers and purchases, Balances must be transferred within 60 days from account opening. Anyone looking to book hotel rooms before the end of the year should consider the Capital One® VentureOne® Rewards Credit Card and its impressive offer of 5X miles on hotel and rental cars booked through Capital One Travel℠. It also has no annual fee, which allows you to maximize savings. This site may be compensated through third party advertisers. If you're looking to transfer debt and finance new purchases, consider the U.S. Bank Visa® Platinum Card, which provides one of the best overall intro APR periods: 0% for the first 20 billing cycles on balance transfers and purchases (then 13.99% to 23.99% variable APR). We’re working hard at getting everything back up and running, While credit cards in the UK typically have interest rates that range from 12% to 30% per annum, low rate cards offer standard variable rates as low as 6% p.a. With such a long intro period, ideally you can pay off your debt within that time frame and not have to pay additional interest. All cards. View All Cards. Many of the cards that offer low interest rates come from credit unions, which require membership. The best overall low-interest rate credit cards are ones that tend to offer solid intro APR offers and low ongoing rates to consumers with average credit or better (typically a credit score of 670 or higher). The U.S. Bank Visa® Platinum Card has one of the longest 0% APR promotional periods of any credit card on the market. Serving 19 million users & counting! NerdWallet ranks 41 of the top low interest rate and 0% apr credit cards for you based on your needs. Learn more about the types of Rewards Cards American Express offers. General purchases include items such as housekeeping supplies, clothing, personal care products, prescription drugs and vitamins, and other vehicle expenses. The Platinum Mastercard® from First Tech® Federal Credit Union provides cardholders with a generous balance transfer offer: 0% APR for the first 12 billing cycles and no balance transfer fee. (Extreme optimizers might be able to achieve more value.). This card doesn't come with any rewards, but there's no annual fee and no foreign transaction fees. Grocery & fuel. Read more about how to make the most of your balance transfer. However, not all low rate credit cards have balance transfer offers, so it is worth … CardRates serves millions of users with credit card rates, reviews, and tips from a team of 50+ leading experts. 1. CNBC Select used this budget to estimate how much the average consumer would save over the course of a year, two years and five years, assuming they would attempt to maximize their rewards potential by earning all welcome bonuses offered and using the card for all applicable purchases. Transfer high-interest balances from your other cards to the Citi® Diamond Preferred® Card and take some time to enjoy a low-interest lifestyle. If you don't meet the qualification requirements, you can opt to join the American Consumer Council (ACC) for free with the promo code "Andrews. Unless you're taking advantage of an intro 0% APR offer, you'll rack up interest, which can make it hard to pay off debt. Membership to First Tech Federal Credit Union is required, but anyone can join through affiliation with select organizations or employers, a relationship with a current member, working or living in Lane County, Oregon, attending Cogswell Poly Technical College or by joining the Community History Museum (CHM) or Financial Fitness Association (FFA). Learn more: CNBC Select's Capital One VentureOne Rewards Credit Card review, 0% for the first 20 billing cycles on balance transfers and purchases. If you carry a balance on your credit card, odds are you're being hit with high interest charges. To qualify for the lowest interest rate, you typically need to have good or excellent credit. The DCU Visa® Platinum Secured Credit Card has one of the lowest interest rates for a secured card at 11.50% variable. Cardholders can also redeem their miles for cash in the form of a check or account credit, gift cards and more, though rates for these other redemption options vary. There is 12 months 0% introductory APR on Regions Premium Visa. Balances need to be transferred within 90 days of account opening to qualify for the interest-free financing, but this is a typical requirement. You can find the latest low-interest credit card deals on Which? It looks like we're having some trouble accessing your Credit Karma account. Or you can book new travel reservations through the Capital One Rewards Center. This low interest rate is guaranteed for the time you own the card and therefore you can be safe in the knowledge that you will always be paying low interest payments for the duration of the time you are … Retail. A low interest credit card is generally a good fit for someone who carries a balance from month to month. Information about the U.S. Bank Visa® Platinum Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication. Who's this for? Balance transfers do incur a 1.50% fee per transfer, with a $50 minimum. After that, the APR is 15.49% to 25.49% variable.The Capital One® VentureOne® Rewards Credit Card offers new users a strong welcome bonus: 20,000 bonus miles after they spend $1,000 on purchases within the first three months. Credit Card Center Editor Score: 185 For example, if you owe $1,000 you'll need to pay between $20 and $50 depending on your card's term. Better yet, this promotion applies to both purchases and balance transfers, making U.S. Bank Visa Platinum an excellent choice for new cardholders looking to finance major purchases or pay down high-interest debt. This card has no annual fee, no foreign transaction fees, no balance transfer fee and offers no interest on balance transfers for the first 12 billing cycles. However, remember that these cards generally require a good to excellent credit rating for approval. This no-annual-fee card also gives cardmembers an unlimited 1.25X miles on all other purchases, making it a solid choice for everyday use. Credit cards typically charge 23% APR, but the very best low-interest deals charge as little as 5.9% APR, offering a cheap way to borrow or shift debt whenever you need it and no need to switch cards because an introductory deal has expired. When you're carrying a balance on your card, it's smarter to focus on paying off your balance rather than trying to optimize the points you can earn. Travel. Your low interest credit card will have a minimum payment of between 2% and 5% of the closing balance. This card doesn't offer a rewards program, but it does come with a cell phone protection plan. Discover amazing low Interest rate credit cards for your everyday purchases. To determine which credit cards have the lowest interest rates and offer the best value, CNBC Select analyzed 234 of the most popular credit cards offered by the biggest banks, financial companies, and credit unions that allow anyone to join. Best Secured Card with Low Interest: DCU Visa® Platinum Secured Credit Card; Best Low Interest Card for Rewards: Choice Rewards World Mastercard® from First Tech® Federal Credit Union (See our methodology for more information on how we choose the best cards.). With a low intro APR offer, you’ll enjoy lower interest rates on credit card purchases. Low interest credit cards are designed to help you save on interest costs. Or you may simply want to be rewarded with a preferential interest rate as acknowledgement for good credit history and responsible debt management. The current interest rates of the card is also very low. You can read more about their methodology here. 1. No matter which Credit Card you choose with a low interest offer, you can enjoy fabulous perks and save on interest. to 14 or 15% p.a. All Rights Reserved. Who's this for? © 2007–2016 Credit Karma, Inc. Credit Karma™ is a registered trademark of Credit Karma, Inc. If you just pay a minimum of $20 each month, it will take you 90 months (that's more than seven years) to pay off your debt, and you'll incur $794 in interest charges. CNBC Select teamed up with location intelligence firm Esri. Compare low interest credit cards from 0 companies below and see if you can avoid hefty card charges. App Store is a service mark of Apple Inc. Credit Cards with Low Interest. This card offers a low variable APR of 8.49% to 15.49%. Find a credit card that fits your lifestyle. A low interest credit card from RBC saves you money when you carry a balance. In order to open this card, you need to join Andrews Federal Credit Union, but anyone can join. If you spend on cards but don't repay in full, try a 0% credit card with up to 20 months' interest-free spending. The average APR for all credit card accounts is 14.87%, and rises to 16.88% for accounts assessed interest, according to the latest data from the Fed. Find the best offers and apply today. Information about the Choice Rewards World Mastercard® from First Tech® Federal Credit Union has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication. The membership fee for the CHM and FFA is paid by First Tech. Just know, many of the cards below have APR ranges, and depending on your credit score you may not qualify for the lowest rate. Plus, there's a welcome bonus of 7,500 points after you spend $500 within the first 90 days. LOW INTEREST CREDIT CARDS Low Intro APR Offer. See Martin Lewis' top picks on 0% credit cards. This is one of the longest interest-free periods for both balance transfers and purchases. After the intro period, there's a low competitive 10.49% to 18.00% variable APR. Brittney Mayer • 12/26/2017 . Pay less interest & maximize your rewards with Mastercard's low interest credit cards. All rewards total estimations are net the annual fee. For example, a card might have an APR which ranges from 8.90% to 17.9%. Information about the Capital One® VentureOne® Rewards Credit Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the card prior to publication. Low Interest. Become a member through affiliation with select organizations or employers, a relationship with a current member, working or living in Lane County, Oregon, attending Cogswell Poly Technical College or by joining the Community History Museum (CHM) or Financial Fitness Association (FFA). Low APR credit cards are designed for everyday use and could save you money. When we calculated the estimated returns, we assumed that cardholders are redeeming points/miles for a typical maximum value of 1 cent per point or mile. More. Who's this for? We define a low interest rate as below 10.99% and have also avoided listing credit cards with a range of APR because it can be deceptive. Best Low-Interest Credit Cards of February 2021 The top cards for cutting debt costs, and how to choose the best one for you. Information about the DCU Visa® Platinum Secured Credit Card has been collected independently by CNBC and has not been reviewed or provided by the issuer of the cards prior to publication. Some of the cards of this list do offer a rewards program, but that wasn't a main criteria we considered when choosing the best low-interest credit cards. Maybe those rates seem manageable, but consider the math. Esri's data team created a sample annual budget of approximately $22,126 in retail spending. The U.S. Bank Visa® Platinum Card has higher interest rates than other cards on this list, but they are still lower than many credit cards that offer a 0% introductory APR. Premium. After the intro period, there's a reasonable variable APR of 11.49% to 18.00%. ", 0% for the first 12 billing cycles on balance transfers processed within 90 days of account opening date. Earn 2X points on groceries, gas, electronics, medical, household goods and telecommunications, 1X points on all other purchases, Earn 20,000 points when you spend $3,000 in the first two months from account opening. 5X miles on hotel and rental cars booked through Capital One Travel℠, 1.25X miles per dollar on every purchase, 20,000 bonus miles once you spend $1,000 on purchases within the first 3 months from account opening, 3% for promotional APR offers; none for balances transferred at regular APR. These picks should be available to the majority of applicants since the national average FICO Score is over 700. Who's this for? Apply online at Scotiabank for low interest credit card and start saving! An unexpected expense, such as a medical bill or home repair, may arise and cause you to fall into debt. The company's data development team provided the most up-to-date and comprehensive consumer spending data based on the 2019 Consumer Expenditure Surveys from the Bureau of Labor Statistics. Plus, there's a welcome bonus of 20,000 points when you spend $3,000 in your first two months from account opening. We publish unbiased reviews; our opinions are our own and are not influenced by payments we receive from our advertising partners. Best Credit Cards with Low Interest and $0 Fees. Say your card has a 17% interest rate and you have a $1,000 balance. A low-interest credit card saves you money by reducing the cost of debt: When you're paying less in interest, you can pay back what you've borrowed more quickly. Rewards. Low APR cards can help you save money, if you're carrying a balance each month. Who's this for? Balance transfers incur a typical 3% fee (minimum $5) and need to be transferred within the first 60 days from account opening to qualify for the interest-free period. Many low interest credit cards also offer balance transfer deals which offer an even lower rate for the balance transferred for a fixed period – usually between 6 to 12 months. iPhone is a trademark of Apple Inc., registered in the U.S. and other countries. The Titanium Rewards Visa® Signature Card from Andrews Federal Credit Union tops our list thanks to the low interest rates, strong rewards program and no foreign transaction fees — all at no annual fee. You need to be a member of First Tech Federal Credit Union to qualify for this card, but anyone can join at no added cost. CNBC Select may receive an affiliate commission when you click on the links for products from our partners. Here are CNBC Select's picks for the top low interest rate credit cards: 3X points on gas and grocery purchases and 1.5X points on all other purchases, Earn 10,000 points when you spend $1,500 within the first 90 days, Rewards totals incorporate the points earned from the welcome bonus. Choose from a low or no annual fee card with a fixed or variable rate. Low interest rate (or 0%) credit cards can save you hundreds of dollars on balance transfers and on routine purchases carried over as credit card balances. You must complete your transfer within 90 days from account opening to qualify for the interest-free period. Low interest rate cards offer a much lower interest rate for purchases than standard credit cards. Beyond interest rates, the Visa® Titanium Signature Rewards Card offers a generous rewards program: Earn 3X points on gas and grocery purchases and 1.5X points on all other purchases.
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