If you’re the type of credit card user who rolls a balance from month to month, a low interest credit card is essential. No longer will you find credit cards with 5% APR, but you also don’t have to settle for 34.99%.
Many of these low interest cards aren’t just low interest, either. They come with other benefits that make them very advantageous. Some offer a cash back bonus or ongoing rewards, which is great. Others offer a balance transfer arrangement, which is helpful if you’re trying to get out of debt faster by carrying less interest.
These low interest cards are great options for any credit card user, but they’re particularly useful if you’re planning a big purchase that will take a few months to pay off.
1. Chase Freedom
The Chase Freedom offers 0% introductory APR for 15 months on purchases and balance transfers. This is a great card for a big purchase up front since it offers a $150 bonus after you spend $500 on purchases within three months of opening your account.
- Cash Back Rewards: This card also offers 5% cash back rewards in rotating categories year-round. Then, you’ll get unlimited 1% cash back on all other purchases. You can also use the online Shop through Chase program to earn a cash back boost.
- Balance Transfers: You can transfer a balance to this card to take advantage of the 0% introductory APR. But the balance transfer fee is 3% of the amount transferred for the first 60 days, minimum $5. After the first 60 days, transfer fee goes up to 5%.
- No Annual Fee: This card has no annual fee, so you don’t need to worry about that sneaking up on you.
Bottom Line: The Chase Freedom is a good card with generally low interest and excellent bonuses.
2. BankAmericard® credit card
The BankAmericard® credit card offers a terrific long-term 0% intro APR on both purchases and balance transfers without charging you on the back-end w/ an annual fee.
- Pricing Details. Card members will receive a 0% intro APR on purchases and balance transfers for 18 billing cycles. After that, the go-to APR becomes 15.24% – 25.24% variable. Balance transfers must be made within the first 60 days of account opening to receive the intro rate.
- Balance Transfers Fee: The card has a balance transfer fee of $10 or 3% of the transfer, whichever is greater.
- No Annual Fee: This card has no annual fee, so you won’t be giving back the savings once a year like many other credit cards.
Bottom Line: The BankAmericard® credit card is a great option for anyone in need of making interest free purchases or paying down an existing balance.
3. Capital One® VentureOne® Rewards Credit Card
This card is obviously one that features travel rewards. However, if you can qualify, it also offers relatively low APR. You can also take advantage of a 0% APR introductory rate for 12 months on purchases, and there is no annual fee.
- Travel Rewards: If you want a card that offers both low interest and travel rewards, this is a great bet. Get 1.25X miles – unlimited. So that’s 1.25 airline miles per $1 spent on any purchase. You’ll also get a one-time bonus of 20,000 miles when you spend $1,000 in purchases within the first three months.
- Easy to Redeem: The rewards you rack up with this card don’t expire. You can use them for flights, hotel stays, car rentals, cruises, and other travel-related expenses. And you don’t have to worry about frustrating blackout dates when you can’t use your rewards.
- No Annual Fee: You’ll pay $0 in annual fees with this card.
Bottom Line: The Capital One® VentureOne® Rewards Credit Card is a great option if you want to combine good APR with travel rewards. Get more details on this card here.
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