GOBankingRates

Best Low-Interest Credit Cards

With so many credit card options available, it can be a challenge to find the cards that best fit your particular needs — and have low interest rates. Some cards offer huge value — like travel rewards, a low or extended introductory APR, or a $0 balance transfer fee — but not every credit card program is right for your situation and spending style. So that you can see which credit card might be right for you, GOBankingRates has identified the best low-interest credit cards based on the following criteria:

Compare the features and details of the best low-interest rate credit card offers to figure out which card might be best for you.

Related: Best Business Credit Card Offers

Click on a link below to learn more about the best low-interest credit cards of 2016:

Low Interest Credit Card Annual Fee APR Rewards & Features Where to Apply
  Discover it Card $0 0% for 12 months, then 11.24%-23.24%
  • 5% cash back in rotating categories that change each quarter
  • 1% cash back for all other purchases
  • Dollar-for-dollar cash back match at the end of the first year
Apply Now
  Citi Diamond Preferred Card $0 0% for 21 months, then 12.24%-22.24%
  • Extended introductory APR
  • Specialized concierge services through Citi Private Pass
  • Purchase protection against damage and theft
Apply Now
  U.S. Bank Visa Platinum Credit Card $0 0% for 12 months, then 10.24%-21.24%
  • Fraud protection that notifies you of any unusual card activity
  • No liability for unauthorized transactions
  • Online banking and automatic bill pay
Apply Now
  Citi Simplicity Card $0 0% for 21 months, then 13.24%-23.24%
  • Extended introductory APR
  • No late fees
  • Citi Price Rewind refunds you the difference if a lower price is found on your purchase
Apply Now
  Chase Slate Card $0 0% for 15 months, then 13.24%-23.24%
  • Extended introductory APR
  • Paying late won’t raise APR
  • Free monthly FICO score
Apply Now
  Chase Freedom Card $0 0% for 15 months, then 14.24%-23.24%
  • 5% cash back in rotating categories that change each quarter
  • 1% cash back for all other purchases
  • $150 bonus for spending $500 in first 3 months
Apply Now
  VentureOne From Capital One Card $0 0% through May 2017 for purchases, then 12.24%-22.24%
  • 1.25 miles per $1 on every purchase
  • 20,000 bonus miles for spending $1,000 in first 3 months
  • No blackout dates or annual or foreign transaction fees
Apply Now
  Amex EveryDay Credit Card $0 0% for 12 months, then 13.24%-22.24%
  • 2 points per $1 at supermarkets
  • 15,000 bonus points for spending $1,000 in first 3 months
  • 20% point bonus for using your card 20+ times in a billing period
Apply Now
  BankAmericard Cash Rewards Credit Card $0 0% for 12 billing cycles, then 13.24%-23.24%
  • 3% cash back on gas
  • 1-2% cash back on all other purchases
  • $100 cash rewards bonus for spending $500 in first 90 days
Apply Now
  Wells Fargo Platinum Visa Card $0 0% for 15 months, then 15.40%-25.24%
  • Zero-liability protection for unauthorized transactions
  • Access to My Money Map
  • Overdraft protection with linked Wells Fargo checking account
Apply Now

Top Low Interest Rate Credit Card Offers of 2016

Discover it Card

The Discover it credit card is among the top credit cards offering a robust rewards structure that includes 5 percent cash back in rotating categories, up to the $1,500 maximum for purchases. You’ll get 1 percent cash back for everything else. For new card members, Discover also automatically matches all the cash back earned — dollar for dollar — at the end of the first year. Even better, cash back never expires — so you can redeem in any amount, at any time.

Annual fee: $0

Intro APR: 0% for 12 months, then 11.24% to 23.24% for purchases and balance transfers

Additional bonus features:

Pros: Rewards don’t expire and Discover will automatically match all the cash back new card members earn in their first year.

Cons: Rotating categories can be a hassle to keep track of and they might not fit your spending patterns.

Citi Diamond Preferred Card

The Citi Diamond Preferred credit card is ideal for cardholders looking for an extended introductory APR period. At 21 months for both purchases and balance transfers, the Citi Diamond Preferred card’s 0% APR promotion is one of the longest offered. In addition to providing the lowest credit card rate available during the extended introductory period, this card also offers access to Citi Private Pass. With Citi Private Pass, cardholders get round-the-clock, personalized concierge services, which include help booking hotels, flights, pre-sale and VIP event tickets, dining experiences and more.

Annual fee: $0

Intro APR: 0% for 21 months, then 12.24% to 22.24% for purchases and balance transfers

Additional bonus features:

Pros: The card’s extended 0% APR offer is ideal for someone who wants to refinance credit card debt and needs a long time to pay it off.

Cons: Other card rewards are limited.

Related: Best Credit Card Offers of 2016

U.S. Bank Visa Platinum Credit Card

The U.S. Bank Visa Platinum card offers a 12-month 0% introductory period for purchases and balance transfers, which can be ideal for those looking to pay down a large card balance. Cardholders never pay an annual fee and get perks like fraud protection, online banking services and complimentary auto rental insurance.

Annual Fee: $0

Intro APR: 0% for 12 months, then 10.24% to 21.24% for purchases and balance transfers

Additional bonus features:

Pros: The card’s 12-month introductory APR is generous for those who need to refinance credit card debt.

Cons: The U.S. Bank Visa Platinum doesn’t offer any cash back, points or rewards.

Citi Simplicity Card

If you want to rein in credit card balances without racking up excess fees, the Citi Simplicity card is one of the best low-interest credit cards to consider. At 21 months, the Citi Simplicity card offers one of the longest interest-free introductory periods on the market. It also comes with no annual fee, no late charges and no penalty APR. Cardholders can take advantage of Citi Price Rewind, which searches online for a lower price on registered items paid for with your Citi card. If a lower price is found within 60 days of the purchase date, you could receive the difference between the prices.

Annual Fee: $0

Intro APR: 0% for 21 months, then 13.24% to 23.24% for purchases and balance transfers

Additional bonus features:

Pros: Citi Simplicity is the only card on the market with no late fees, no penalty rate and no annual fee — ever.

Cons: The card charges a balance transfer fee of either $5 or 3% of the amount of each credit card balance transfer, whichever is greater.

Chase Slate Card

For those looking for low credit card rates, the Chase Slate card is a good option. Chase Slate offers a $0 introductory balance-transfer fee and a 15-month 0% introductory APR. For consumers looking to pay down a large card balance, those two features can act as a one-two punch in a strategic debt pay-down program. With no annual fee and no late-penalty APR, the card offers many benefits for cost-conscious cardholders. Even better, cardholders can monitor their FICO scores for free.

Annual Fee: $0

Intro APR: 0% for 15 months, then 13.24% to 23.24% for purchases and balance transfers

Additional bonus features:

Pros: Chase Slate offers a long, 15-month introductory 0% APR for purchases and balance transfers. The card also waives its balance transfer fee when you move high-interest debt onto the card within 60 days of opening the account.

Cons: No sign-up bonus is offered and balance transfers won’t earn you points in the Chase Ultimate Rewards program.

Chase Freedom Card

The Chase Freedom card offers a generous rewards structure, which includes 5 percent cash back in broad, rotating categories — like grocery stores and wholesale clubs, gas stations and restaurants — up to the $1,500 maximum. You’ll earn 1 percent cash back for everything else. For new card members, Discover also automatically provides a dollar-for-dollar match of all the cash back earned at the end of the first year. Cash back never expires, so you can redeem for any amount at any time.

Annual Fee: $0

Intro APR: 0% for 15 months, then 14.24% to 23.24% for purchases and balance transfers

Additional bonus features:

Pros: The Chase Freedom card offers a long, 15-month introductory APR of 0% for purchases and balance transfers, generous cash-back rewards and no annual fee.

Cons: Rotating categories require an opt-in each quarter, can be a hassle to keep track of and might not fit your spending patterns.

VentureOne From Capital One

For travelers looking for a low-interest credit card, the VentureOne From Capital One offers generous travel rewards at a rate of 1.25 miles for every dollar spent. One hundred miles is equal to $1 in travel rewards, and there’s no limit to the number of miles you can earn. New cardholders who spend $1,000 on purchases within the first three months get a 20,000-mile bonus, equal to $200 in travel. The VentureOne has no blackout dates on travel and charges no annual fee or transaction fees.

Annual Fee: $0

Intro APR: 0% through May 2017, then 12.24% to 22.24% for purchases; no introductory period for balance transfers

Additional bonus features:

Pros: The VentureOne card offers a generous rewards rate with no annual fee and no foreign transaction fees.

Cons: The card is available only for those with an excellent credit score.

Related: Best Travel Rewards Credit Card Offers of 2016

Amex EveryDay Credit Card

The Amex EveryDay credit card offers an attractive rewards package for those who don’t want to deal with the hassle of tracking rotating rewards categories. The points system is simple to remember: two points for every dollar spent in a U.S. grocery store and one point for each dollar spent anywhere else, up to $6,000 in purchases per year. With no annual fee and a straightforward rewards system, the card is an attractive choice for those who seek a simple rewards program.

Annual Fee: $0

Intro APR: 0% for 12 months, then 13.24% to 22.24% for purchases and balance transfers

Additional bonus features:

Pros: The Amex EveryDay program rewards everyday spending, like your regular trip to the grocery store. Cardholders don’t need to keep track of rotating categories.

Cons: Other credit cards offer better rewards programs for frequent travelers and those who dine out often.

BankAmericard Cash Rewards

The BankAmericard Cash Rewards credit card offers generous rewards, especially for customers with Bank of America accounts. Cardholders can earn a cash rewards bonus of $100 by spending at least $500 within the first 90 days of opening an account. You’ll get up to 3 percent cash back on purchases, plus you can earn a 10-percent customer bonus every time you redeem your cash back into a Bank of America checking or savings account.

Annual Fee: $0

Intro APR: 0% for 15 months, then 13.24% to 23.24% for purchases and balance transfers

 

Additional bonus features:

Pros: The BankAmericard Cash Rewards credit card’s introductory APR period is longer than that of other cards, and there’s no annual fee.

Cons: The cash-back rate only applies to the first $1,500 in combined grocery and gas purchases each quarter.

Wells Fargo Platinum Visa Card

The Wells Fargo Platinum Visa credit card offers a 15-month 0% introductory period for purchases and balance transfers, which can be ideal for those looking to pay down a large credit card balance. The card also offers fraud protections, overdraft protection when linked to a Wells Fargo checking account, and no annual fee.

Annual Fee: $0

Intro APR: 0% for 15 months, then 15.40% to 25.24% for purchases and balance transfers

Additional bonus features:

Pros: The Wells Fargo Platinum Visa’s introductory APR lasts a long 15 months, and cardholders pay no annual fee.

Cons: No sign-up bonus or rewards program is offered.

Methodology: GOBankingRates assessed information about low interest credit cards, including sourcing information from the credit card and financial institution provider websites as of May 23, 2016. To comprise this list of the best low interest credit cards of 2016, GOBankingRates considered the following factors: (1) APR; (2) bonus features; (3) annual fee to keep the card open

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc.an online marketing company serving top-tier banks, credit unions, and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone and have not been reviewed, approved, or otherwise endorsed by the companies included in the article.

Editorial Note: This content is not provided or commissioned by the bank advertiser. Opinions expressed here are author’s alone, not those of the bank advertiser, and have not been reviewed, approved or otherwise endorsed by the bank advertiser. This site may be compensated through the bank advertiser Affiliate Program.