Low interest credit cards are a smart financial tool when you cannot pay your balance in full each month. If you plan on making a large purchase we suggest you get one of these cards in advance. Then use it to buy your items and so take advantage of any no interest bonus deals. Here are the five best low-interest credit cards for you to consider.
Table of contents
- 5 Best Low Interest Credit Cards
- Our Top Picks
- Capital One® Quicksilver® Cash Rewards – Best for Unlimited Cash Rewards
- Citi® Double Cash Card – Best for Balance Transfers
- Discover it® Cash Back: Best Starting APR of 11.99%
- Citi® Diamond Preferred® Card – Best for Those Who Don’t Want Rewards
- Blue Cash Everyday® Card from American Express – Best for Simplified Rewards
- Low Interest Credit Cards – The Bottom Line
- Quick Questions
5 Best Low Interest Credit Cards
- Capital One® Quicksilver® Cash Rewards: Unlimited 1.5% cash rewards
- Citi® Double Cash Card: Balance transfer rate of 0% for 18 months
- Discover it® Cash Back: Lowest starting APR of 11.99%
- Citi® Diamond Preferred® Card: No-frills card
- Blue Cash Everyday® Card from American Express: Simple reward structure
Our Top Picks
Capital One® Quicksilver® Cash Rewards – Best for Unlimited Cash Rewards
One of the best low interest credit cards for those with excellent credit is the Capital One® Quicksilver® Cash Rewards card. This card has no annual fee, a starting 15.49% interest rate, and no balance transfer fee. Cardholders earn an impressive unlimited cash bonus of 1.5% on every purchase, and these rewards have no expiration date or minimum redemption amount. New cardholders receive 0% interest on purchases made within 15 months of opening the account, and those who spend $500 in purchases in their first three months receive a $200 cash reward.
Citi® Double Cash Card – Best for Balance Transfers
Another of our best low interest credit cards is the Citi® Double Cash Card, available to those with at least a 720-credit score. This no annual fee card has a 13.99% starting APR and offers an unlimited 1% cash bonus on purchases with another 1% added when the items are paid for in full. Cardholders can convert the cash to reward points. Or receive money back as a statement credit, check, or direct deposit to another account.
Discover it® Cash Back: Best Starting APR of 11.99%
Of our best low interest credit cards, the Discover it® Cash Back card offers the lowest starting APR of 11.99% with no annual fee. Each quarter, cardholders receive a 5% cash reward on purchases made at a select group of merchants, such as gas stations or restaurants. All other purchases automatically receive an unlimited 1% cash bonus throughout the year. New cardholders receive 0% interest on all balance transfers and purchases for the first 14 months. And also a cash reward match from Discover on all the cash they have earned in their first year.
Citi® Diamond Preferred® Card – Best for Those Who Don’t Want Rewards
The Citi® Diamond Preferred® Card is one of the best low interest credit cards for those who aren’t interested in earning rewards. An excellent score is required for this no annual fee card that offers a low 14.74% interest rate. The interest fee for new cardholders is waived on balance transfers and purchases made in the first 18 months. One perk of the card is the opportunity to purchase offers from Citi Entertainment® for upgraded access to various events, from concerts to specially curated experiences.
Blue Cash Everyday® Card from American Express – Best for Simplified Rewards
American Express makes our best low interest credit cards list with its Blue Cash Everyday® Card. A credit score of 670 and above is needed to qualify for this no annual fee card. Cardholders earn 3% in cash rewards at grocery stores, 2% at select U.S. department stores and gas stations, and 1% on all other purchases. New cardmembers receive 20% back on Amazon purchases made in their first six months, up to a $200 limit, and if they spend $1,000 within six months, they receive a $100 bonus.
Low Interest Credit Cards – The Bottom Line
Each of these best low interest credit cards offers you additional benefits beyond the option to carry a monthly balance at a lower rate. Simply select the one that fits in best with your own debt reduction strategy and needs.
You save money by paying less in interest on balances you carry over from month-to-month.
The best card choice for you depends on your goal of getting the card. To pay off debts, select one with 0% interest on balance transfers. If you are making a large purchase soon, choose a card with a 0% APR period for purchases.
The average APR is 14% for low-interest cards.
The only thing better than low Interest is zero interest! Check out our guide to the five best 0% percent interest credit cards here.