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Carrying a high-interest credit card balance can cost you hundreds or even thousands in interest charges over time. These added costs can make paying off debt and achieving your financial goals difficult.
Low-interest cards can help you save money and pay off debt faster by offering lower APRs and attractive balance transfer options. We'll explore the best low-interest credit cards for 2024, comparing their APRs, fees, and benefits to help you find the perfect card for your needs.
Best low-interest credit cards
We evaluated the best low-interest credit cards for the length of their introductory APR, regular APRs, and fees. The best low-interest credit cards have an introductory period between 15 and 21 months at 0% APR. Here are our top picks:
- Citi Simplicity® Card
- Discover it® Chrome
- Chase Freedom Unlimited®
- Blue Cash Everyday® Card from American Express
- Wells Fargo Reflect® Card
- Citi® Diamond Preferred® Card
- Navy Federal Platinum Credit Card
- BankAmericard® Credit Card
- Capital One VentureOne Rewards Credit Card
Citi Simplicity® Card
The Citi Simplicity® Card offers one of the longest introductory APR periods available on both purchases and balance transfers. There are also no late fees or penalty APR.
Introductory APR offer: 0% intro APR for 21 months on balance transfers from the date of first transfer and 0% intro APR for 12 months on purchases from the date of account opening. After the introductory period, the regular APR resorts to 19.24% to 29.99%.
Balance transfer details:
- Balance transfer fee: 5% of each balance transfer; $5 minimum
- Balance transfers must be completed within 4 months of account opening
The Citi Simplicity is best for borrowers looking to pay off debt. The extended 0% APR for 21 months is the longest length of time for a balance transfer card, which gives you a lot of time that you’re not paying interest.
Balance transfers must be initiated within the first four months of account opening. A balance transfer fee also applies. After the introductory period, the regular APR, which can be quite high, goes into effect.
The other main benefits of the card are no late fees or penalty APR. Beyond that, additional perks are scant. There are no rewards, but the card does offer the ability to choose your own payment due date.
Pros
- Long introductory APR period for purchases and balance transfers
- Choose your payment due date
- No late fees
- No annual fee
- No penalty APR
Cons
- No rewards program
- Regular APR is high
- High balance transfer fee
Discover it® Chrome
The Discover it® Chrome offers a unique combination of cash back rewards and a competitive introductory APR period on purchases and balance transfers.
Introductory APR offer: 0% intro APR for 18 months on balance transfers and 0% intro APR on new purchases for the first six months. This is followed by a variable APR of 18.24%-28.24%.
Balance transfer details:
- Balance transfer fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
- Balance transfers must be completed within three months of account opening
The Discover it® Chrome is an excellent choice for those who want to earn cash back rewards while enjoying 0% APR on purchases and balance transfers. This card has no annual fee, but balance transfer fees are 3% for those initiated in the first three months of account ownership.
Like all Discover cards, the Discover it Chrome offers generous cash back and is great for building credit. You’ll earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter and 1% cash back on all other purchases. Discover will also automatically match all the cash back you've earned at the end of your first year.
Pros
- Competitive introductory APR period
- No annual fee
- Cash back rewards
- No foreign transaction fees
- Cashback Match™ bonus
Cons
- Balance transfer fee applies
- Regular APR is high
- Relatively low cash back rates compared to some other cards
- Quarterly cap on bonus cash back earnings
Chase Freedom Unlimited®
The Chase Freedom Unlimited® offers a combination of cash back rewards and a solid introductory APR period on purchases and balance transfers.
Introductory APR offer: 0% intro APR for 15 months on purchases and balance transfers. The ongoing APR ranges between 20.49%-29.24% once the introductory period is over.
Balance transfer details:
- Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. After that, either $5 or 5% of the amount of each transfer, whichever is greater.
- Balance transfers must be completed within 60 days of account opening
The Chase Freedom Unlimited is an excellent choice for those who want to earn cash back on everyday purchases while enjoying a competitive introductory APR period on purchases and balance transfers.
Transfer balances within the first 60 days of account opening to minimize balance transfer fees. Consider using the card for travel, dining, and drugstore purchases to maximize cash back earnings.
Pros
- Competitive introductory APR period
- Robust cash back rewards
- No annual fee
- Solid welcome offer
Cons
- Balance transfer fee applies
- Balance transfers must be initiated within the first 60 days
- Relatively high ongoing APR after the intro period
- 3% foreign transaction fee
Blue Cash Everyday® Card from American Express
The Blue Cash Everyday Card from American Express is another great card that offers everyday rewards on top of a lengthy APR offer
Introductory APR offer: 0% intro APR for 15 months on purchases and balance transfers. Once the introductory period is over, the ongoing APR ranges between 19.29% and 29.99%. See rates and fees.
Balance transfer details:
- Balance transfer fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Balance transfers must be made within the first 60 days to qualify for an APR offer.
The card earns 3% cash back at U.S. supermarkets, U.S. gas stations, and U.S. online retail purchases (up to $6,000 yearly, then 1%). You’ll earn 1% back on everything else.
This card has a solid welcome bonus and no annual fee. Other perks include car rental insurance*, a Disney bundle credit (enrollment required), and a complimentary ShopRunner membership.
Pros
- Length APR offer on purchases and balance transfers
- No annual fee
- Cash back rewards on groceries, gas, and online retail purchases
- Solid welcome bonus
Cons
- Balance transfer fee applies
- Balance transfers must be made in the first 60 days
- High regular APR
Wells Fargo Reflect® Card
The Wells Fargo Reflect® Card offers one of the longest introductory APR periods available. It's an excellent choice for those looking to pay off debt or finance a large purchase over time.
Introductory APR offer: 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. This is followed by an 18.24%, 24.74%, or 29.99% ongoing variable APR.
Balance transfer details:
- Balance transfer fee: 5% or $5, whichever is greater
- Balance transfers must be made within 120 days from account opening to qualify for the introductory APR
The Wells Fargo Reflect® Card is best suited for individuals who need a long time to pay off existing debt or finance a large purchase.
There’s no annual fee on this card. But beyond the long period of time you have at a 0% APR, there’s not much else to get excited about. You won’t be able to earn rewards for your spending. This card does include benefits such as cell phone protection, credit monitoring, and rental car coverage.
Pros
- Long introductory APR period
- No annual fee
- Cell phone protection
Cons
- No rewards
- Foreign transaction fees and late fees
- High ongoing APR after the intro period
- Balance transfer fee applies
- Balance transfers must be requested in the first 120 days
Citi® Diamond Preferred® Card
The Citi® Diamond Preferred® Card offers a lengthy introductory APR period on balance transfers and purchases and access to exclusive entertainment experiences through Citi Entertainment®.
Introductory APR offer: 0% intro APR for 21 months on balance transfers from the date of first transfer and 0% intro APR for 12 months on purchases from the date of account opening. This is followed by a variable APR of 18.24% - 28.99%.
Balance transfer details
- Balance transfer fee: 5% of each balance transfer; $5 minimum
- Balance transfers must be completed within four months of account opening
The Citi® Diamond Preferred® Card is an excellent choice for those who need a long time to pay off high-interest debt or finance a large purchase.
This card has added perks, like access to Citi Entertainment® and free FICO credit score monitoring.
- Long introductory APR period for balance transfers
- No annual fee
- Free FICO score
- Access to Citi Entertainment®
Cons
- High balance transfer fee
- Balance transfers must be requested in the first four months
- Relatively high ongoing APR after the intro period
- No rewards program
Navy Federal Platinum Credit Card
The Navy Federal Platinum Credit Card doesn’t charge a balance transfer fee, a valuable benefit not many cards provide. To qualify for this credit card, you’ll need to be a credit union member.
Introductory APR offer: 0.99% intro APR for 12 months from account opening on balance transfers made within 60 days. This is followed by a variable APR of 11.24%-18.00%.
Balance transfer details:
- Balance transfer fee: None
- Balance transfers must be completed within 60 days of account opening
There is no annual fee and no foreign transaction fees. A balance transfer request must be made within the first 60 days to be eligible for a $0 balance transfer fee.
Other perks include the ability to freeze your account, collision damage waiver, and travel and emergency assistance.
Pros
- Solid intro APR offer
- No annual fee
- No balance transfer fee
- Low ongoing interest rate
- No foreign transaction fees
Cons
- Navy Federal Credit Union membership required to apply
- Balance transfers must be requested in the first 60 days
- No rewards
BankAmericard® Credit Card
The BankAmericard® Credit Card offers a competitive introductory APR period on purchases and balance transfers. It also has no annual fee and no penalty APR.
Introductory APR offer: 0% intro APR for 18 billing cycles on purchases and balance transfers made within the first 60 days of account opening. This is followed by a variable APR of 16.24%-26.24%.
Balance transfer details
- Balance transfer fee: 3% balance transfers made within the first 60 days, then 4%
- Balance transfers must be made within the first 60 days of account opening to qualify for the intro APR
The BankAmericard® Credit Card is best for those who want to pay off debt or finance purchases with a simple, no-frills card. This card has no annual fee or penalty APR, making it an affordable option.
Pros
- Long introductory APR period
- No annual fee
- No penalty APR
Cons
- No rewards program
- Balance transfer fee applies
- Relatively high ongoing APR after the intro period
Capital One VentureOne Rewards Credit Card
The Capital One VentureOne Rewards Credit Card offers a combination of travel rewards and a competitive introductory APR period on purchases. It's a good choice for those who want to save on interest while earning miles for future travel.
Introductory APR offer: 0% intro APR for 15 months on purchases and balance transfers. This is followed by a variable APR of 19.99%-29.99%.
Balance transfer details:
- Balance transfer fee: 3% for the first 15 months; 4% at a promotional APR that Capital One may offer you at any other time
The VentureOne card is best for those who want to earn travel rewards on everyday purchases while enjoying a competitive introductory APR period.
You’ll earn 1.25X miles on all purchases and 5X on hotels and rental cars when you book through Capital One Travel. This card has no annual fee and no foreign transaction fees. You’ll also get modest travel perks like travel accident insurance and 24-hour travel assistance services.
Pros
- Long introductory APR period
- Earn miles on everyday purchases
- No annual fee
- No penalty APR
- No foreign transaction fees
Cons
- Balance transfer fee applies
- Relatively high ongoing APR after the intro period
- Relatively low miles earning rate compared to some other travel cards
Comparing the best low-interest credit cards
Here’s what the best low-interest credit cards look like when stacked side by side.
Why choose a low interest rate credit card?
Low-interest credit cards can be an excellent tool for managing debt, financing large purchases, or saving money on interest charges. Here are some reasons to consider a low-interest credit card:
- Pay off high-interest debt: By transferring high-interest balances to a card with a 0% introductory APR, you can save on interest charges and pay off your debt faster.
- Finance large purchases: If you need to make a large purchase but can't pay it off immediately, a low-interest credit card can help you spread the cost over time without accruing significant interest charges.
- Save money on interest: Even if you don't have existing debt or a large purchase, using a low-interest credit card for everyday purchases can help you save money on interest if you occasionally carry a balance.
- Improve your credit score: By using a low-interest credit card responsibly and making on-time payments, you can improve your credit score over time, which can help you qualify for better rates on loans and other financial products in the future.
Pros and cons of low interest credit cards
Like any financial product, low-interest credit cards have both advantages and disadvantages. Here are some pros and cons to consider:
Pros
- Save money on interest charges
- Pay off debt faster
- Finance large purchases with minimal interest
- Potentially improve your credit score with responsible use
Cons
- Introductory APR periods are temporary
- Ongoing APRs after the intro period can be high
- Balance transfer fees may apply
- May not offer the best rewards programs compared to other cards
How to choose the best low interest credit card
The best low-interest credit card is the one that works best for you, but there are a lot of options out there. Here are a few factors to consider:
- Length of the introductory APR period. Look for cards with longer introductory APR periods to maximize your interest savings.
- Annual fee. Low-interest credit cards don’t typically charge an annual fee, even if you’re new to credit.
- Balance transfer fees: To minimize costs, choose a card with low or no balance transfer fees if you plan to transfer high-interest balances.
- Ongoing APR after the intro period: Consider the ongoing APR after the introductory period ends, especially if you may carry a balance in the future.
- Additional perks and benefits: Look for cards that offer perks and benefits that align with your needs, such as rewards, travel benefits, or purchase protections.
How to minimize credit card interest
Here are a few quick tips to avoid paying credit card interest.
- Pay balances in full each month: You won't pay credit card interest if you pay your balances in full each month. You can get the maximum benefit from a credit card by operating without a balance.
- Make more than the minimum payment: If you can’t pay the balance off in full each month, try making more than the minimum payment. This will put more money towards the principal and pay off the credit card faster.
- Transfer balances to a low-interest card: If you carry a balance, you can use a low-interest credit card to manage the debt load. Low-interest credit cards can give you a jump start on lowering interest costs, paying down debt, and rebuilding your credit.
- Make more payments each month: Since interest is calculated daily, you can decrease the interest you pay by making payments throughout the month. This will decrease the balance on which interest is calculated.
What is a low-interest credit card?
A low-interest credit card offers a lower APR than typical credit cards, often through an introductory 0% APR period on purchases, balance transfers, or both.
How long do introductory APR periods typically last?
Introductory APR periods can vary, but typically range from 12 to 21 months, depending on the card and the specific offer.
What happens after the introductory APR period ends?
After the introductory period ends, the APR will transition to the ongoing APR, which is usually higher and can vary based on your creditworthiness
The bottom line
The best 0% intro APR credit card is the one that aligns with your financial goals and helps you pay down debt. But remember that low interest credit cards are merely a tool. The real change lies in the good behaviors and habits you’ll adopt when you manage your credit responsibly.
*Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company
Editorial disclosure: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.
