Are you looking for a low interest credit card so that you can save on interest fees when you carry a balance from month to month? If that’s the case, you should go for low interest cards which offer introductory rates from as low as 0% for a certain period of time. Whether you are booking a vacation package, buying an expensive gift or transferring an existing card balance, there is nothing better than being assured that you will only have to pay a low interest rate for your purchases or balance transfers if you won’t be able to repay within the same month.
We have come up with a list of the top 8 best credit cards offering low interest, all of which have no annual fee.
Discover it® Card. This card, issued by Discover Financial, offers 0% intro APR on purchases and balance transfers for 14 months, and a variable APR of 10.99% – 22.99% thereafter. You will get 5% cash back on up to $1,500 quarterly purchases in rotating sign-up categories.
Click here to read our detailed Discover it Card review.
Chase Freedom®. This Visa card by JPMorgan Chase has a 0% intro APR for 15 months on purchases and on balance transfers. After that, the regular variable APR for both purchases and balance transfers will be 13.99%-22.99%, depending on your credit score. You’ll also get 5% cash back on quarterly rotating categories (on up to $1,500 in combined purchases per quarter, and you have to sign up to each quarterly program in order to activate it), and unlimited 1% cash back on all other purchases. This Chase Freedom lets you earn a $100 Bonus, which you’ll receive after making purchases for just $500 within the first 3 months, and an additional $25 Bonus when you add your first authorized user and make a purchase during this 3-month period. No annual fee.
Click here to read our detailed Chase Freedom review.
Barclaycard Ring MasterCard. This Barclays credit card offers a low interest rate on both purchases and balance transfers of only 8% variable APR, which is one of the lowest interest rates available in the market. This card has no balance transfer fee which is ideal for those of you who want to transfer a balance to this card and benefit from the low interest rate. No over-the-limit fee when spending more than your cash limit. No annual fee.
Click here to read our Barclaycard Ring MasterCard review.
Capital One® VentureOne® Rewards Credit Card. This Visa card offers 0% intro APR on purchases till August 2015. After that, you will have to pay a variable APR of 11.9%-19.9% depending on your credit score. This VentureOne credit card gives you 20,000 bonus miles after you spend $1,000 on purchases within the first 3 months. Earn 1.25 miles per dollar on every purchase. No annual fee.
Click here to read our detailed VentureOne credit card review.
Chase Slate®. This low interest Chase card has a 0% introductory APR on both purchases and balance transfers for 15 months (variable purchase and balance transfer APR of 12.99%, 17.99% or 22.99% after that). On top of that, if you transfer a balance during the first 60 days your account is open, as an introductory offer you will pay $0 balance transfer fee. After that the fee is 3% of the amount you transfer or a $5 minimum fee. Most other cards charge a 3-5% balance transfer fee right from the beginning. $0 annual fee.
Click here to read our detailed Slate card review.
Capital One® Platinum Prestige Credit Card. This Capital One card gives you 0% intro APR on purchases and balance transfers till November 2015. You pay 10.9% – 18.9% variable APR after that. 0% foreign transaction fee when you use the Platinum Prestige card outside the US. Balance transfer fee is 3% of transfer amount. No annual fee.
Click here to read our detailed Platinum Prestige review.
Citi Simplicity Card. This new card, issued by Citibank, has a 0% intro APR on purchases for 18 months, and also a 0% intro APR on balance transfers for 18 months. After those first 18 months, you will have to pay a regular APR of 12.99%, 17.99% or 21.99%, depending on your credit score. Citi Simplicity is at the top of my recommendation list because it doesn’t charge any late fees, or increase your interest rate when you miss a payment due date.
Click here to read our detailed Citi Simplicity card review.
Citi Diamond Preferred Card. With this card, you will enjoy a 0% intro APR for 18 months on both purchases and balance transfers. After that, your variable regular APR will be 11.99%-21.99%, depending on your credit score. You’ll also have access to its 24/7 Diamond Preferred concierge service.
Click here to read our detailed Citi Diamond card review.