Best low-interest credit cards for September 2024
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- Best for long intro APR offers: Wells Fargo Reflect® Card
- Best for rotating-category cash back: Discover it® Cash Back
- Best for home improvement: Bank of America® Customized Cash Rewards credit card
- Best for big savers: Bank of America® Unlimited Cash Rewards credit card
- Best for families: Blue Cash Everyday® Card from American Express
- Best for dining and grocery rewards: Capital One SavorOne Cash Rewards Credit Card
- Best for large purchases: Wells Fargo Active Cash® Card
- Best 1.5% cash back card: Capital One Quicksilver Cash Rewards Credit Card
- Best for balance transfers: Citi® Diamond Preferred® Card
- Best for flat and bonus cash back rates: Chase Freedom Unlimited®
- Best for everyday spending: Citi Rewards+® Card
Additional Options:
Best credit union card: Gold Visa® Card
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Showing 12 results
Purchase intro APR
0% intro APR for 21 months from account opening
Regular APR
18.24%, 24.74%, or 29.99% Variable APR
Intro offer
N/A
Rewards rate
N/A
Purchase intro APR
0% for 15 months
Regular APR
18.24% - 28.24% Variable APR
Intro offer
Cashback Match
Rewards rate
1% - 5%
Why you'll like this: It offers solid short- and long-term value with its combo of an intro APR, first-year Cashback Match and rotating categories.
Best for home improvement
Purchase intro APR
0% Intro APR for 15 billing cycles for purchases
Regular APR
19.24% - 29.24% Variable APR on purchases and balance transfers
Intro offer
$200
Rewards rate
1% - 3%
Why you'll like this: It lets you choose which categories earn rewards year-round, unlike other rotating category cards.
Best for Bank of America customers
Purchase intro APR
0% Intro APR for 15 billing cycles for purchases
Regular APR
19.24% - 29.24% Variable APR on purchases and balance transfers
Intro offer
$200
Rewards rate
1.5%
Why you'll like this: You can earn up to a 2.62 percent flat cash back rate based on your savings — one of the highest rates on the market.
Purchase intro APR
0% on purchases for 15 months
APR
19.24% - 29.99% Variable
Intro offer
Earn $200
Rewards rate
1% - 3%
Why you'll like this: It offers a great balance of rewards value and interest savings.
Best for dining and grocery rewards
Purchase intro APR
0% intro on purchases for 15 months
Regular APR
19.99% - 29.99% (Variable)
Intro offer
$200
Rewards rate
1% - 8%
Why you'll like this: It holds great long-term value as one of the only cards that earns rewards at such a high rate at both grocery stores and restaurants.
Purchase intro APR
0% intro APR for 12 months from account opening
Regular APR
20.24%, 25.24%, or 29.99% Variable APR
Intro offer
$200 cash rewards
Rewards rate
2%
Best 1.5% cash back card
Purchase intro APR
0% intro on purchases for 15 months
Regular APR
19.99% - 29.99% (Variable)
Intro offer
$200
Rewards rate
1.5% - 5%
Why you'll like this: Its flat rewards rate and low cost make it a great foundation for a Capital One rewards stack.
Purchase intro APR
0% for 12 months on Purchases
Regular APR
18.24% - 28.99% (Variable)
Intro offer
N/A
Rewards rate
N/A
Why you'll like this: It has one of the longest intro APRs for balance transfers, making it a great pick for debt-reducers.
Purchase intro APR
0% Intro APR on Purchases for 15 months
Regular APR
20.49% - 29.24% Variable
Intro offer
Up to $300 cash back
Rewards rate
1.5% - 5%
Why you'll like this: Its mix of bonus categories makes it easy to earn travel rewards even if you don’t spend heavily on travel.
Purchase intro APR
0% intro for 15 months on Purchases
Regular APR
18.74% - 28.74% (Variable)
Intro offer
20,000 points
Rewards rate
1X - 5X
Why you'll like this: Since it earns rewards on everyday purchases, it should offer solid long-term value even after the intro APR period ends.
Intro offer
N/A
Rewards Rate
N/A
Annual fee
$0
Regular APR
17.99% Variable APR
Why you'll like this: It carries a relatively low ongoing APR and its simplicity make it easy to focus on paying off your balance.
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Compare Bankrate’s top low-interest credit cards
Card Name | Variable APR | Best for | Bankrate review score |
---|---|---|---|
|
Intro Offer: N/A
Regular APR: 18.24%, 24.74%, or 29.99% Variable APR
|
Long intro APR offers |
4.3 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on Wells Fargo's secure site
|
|
Intro Offer: Cashback Match
Intro Offer: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
Regular APR: 18.24% - 28.24% Variable APR
|
Rotating-category cash back |
4.4 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on Discover's secure site
|
|
Intro Offer: $200
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
Regular APR: 19.24% - 29.24% Variable APR on purchases and balance transfers
|
Best for home improvement |
4.1 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on Bank of America's secure site
|
|
Intro Offer: $200
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
Regular APR: 19.24% - 29.24% Variable APR on purchases and balance transfers
|
Bank of America Customers |
3.8 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on Bank of America's secure site
|
|
Intro Offer: Earn $200
Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
Regular APR: 19.24% - 29.99% Variable
|
Families |
4.6 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on American Express's secure site
See Rates & Fees
, Terms Apply
|
|
Intro Offer: $200
Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening
Regular APR: 19.99% - 29.99% (Variable)
|
Dining and grocery rewards |
5.0 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on Capital One's secure site
|
|
Intro Offer: $200 cash rewards
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
Regular APR: 20.24%, 25.24%, or 29.99% Variable APR
|
Large purchases |
4.3 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on Wells Fargo's secure site
|
|
Intro Offer: $200
Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
Regular APR: 19.99% - 29.99% (Variable)
|
1.5% cash back |
3.8 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on Capital One's secure site
|
|
Intro Offer: N/A
Regular APR: 18.24% - 28.99% (Variable)
|
Balance transfers |
4.1 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on Citi's secure site
|
|
Intro Offer: Up to $300 cash back
Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That’s 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.
Regular APR: 20.49% - 29.24% Variable
|
Flat and bonus cash back rates |
4.8 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on Chase's secure site
|
|
Intro Offer: 20,000 points
Earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening; redeemable for $200 in gift cards at thankyou.com.
Regular APR: 18.74% - 28.74% (Variable)
|
Everyday spending |
4.0 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.
Apply now
on Citi's secure site
|
|
Intro Offer: N/A
Regular APR: 17.99% Variable APR
|
Credit union customers |
|
What to know about low-interest credit cards
A low-interest credit card is defined by its annual percentage rate (APR), which can be variable or fixed. If the low end of the variable percentage is around 18 percent, it generally qualifies as a low-interest card.
While credit experts agree that paying your balance on time and in full every month is the best way to avoid interest, if you need to carry a balance, a low-interest card could help you pay less interest over time.
Comparing credit card interest charges
The best way to sift through your options is to analyze cards using your actual spending or balances. You might be surprised how much these cards can save you compared to a rewards card or cash back card with a high APR.
Here are two of the best low-interest cards compared with a rewards card using average credit card debt statistics from 2023:
Credit card | Credit card APR* | Daily periodic rate | Balance | Interest for a 30-day billing cycle |
Chase Sapphire Preferred® Card | 21.49% | 0.059% | $6,501 | $383.56 |
Capital One SavorOne Cash Rewards Credit Card | 19.99% | 0.055% | $6,501 | $357.56 |
Wells Fargo Reflect® Card | 18.24% | 0.050% | $6,501 | $325.05 |
*Using each card’s lowest possible APR.
Bankrate Insight
If you're dead set on finding a way to lower your credit card interest rate, contact your issuer. You can call and ask to lower your interest rate or even negotiate a new payment plan entirely. If you've generally been on time with your payments and have been a loyal customer, use those points to make your case. With the right approach, you could be successful in lowering your rate.
Expert advice for choosing a low-interest card
Discover our experts' tips on what to consider when choosing the right low-interest card for you.
- Check your credit score: A higher credit score increases your chances of getting a low interest rate. Knowing your credit score and cleaning up any errors before you apply can help you get a low APR.
- Calculate debt payoff: Low-interest cards can help people reduce debt, but the goal should be paying it off. Reviewing card terms and APRs can help you forecast your payoff date.
- Compare card features: Match features and perks to your spending goals. Some may want a card that earns flat-rate rewards; others may want a card with 0 percent interest intro APR offers.
- Consider the long-term value: While having a low interest rate can be great long-term, not every low-interest card maintains great value over time. Make sure that your card has value beyond short-term offers like welcome bonuses and introductory APR offers. Rewards rates, perks and benefits can be a great way to make a card work for you.
- Weigh your current debt: How heavy is your current card balance, if any? A balance transfer credit card might be a better fit for you if you want to consolidate card debt instead. Many of the best balance transfer cards have intro offers featuring 0 percent interest on balance transfers.
Still unsure if a low-interest credit card is right for you? Check out our Credit Card Spender Type Tool, where you can get personalized credit card recommendations based on your credit score, spending habits and daily needs.
What people are saying about low-interest credit cards
As rising inflation remains a concern, many people online are looking for a low-interest credit card. While big-name issuers dominate the market, credit unions are the go-to recommendation for finding a low-interest credit card.
Even Bankrate writer Garrett Yarbrough keeps his credit union card because its interest rate is lower than many other cards’ rates.
“Its greatest strength is one of the main reasons to have a credit union card: the interest rate is far less than the typical APR on a card from a major issuer,” he says. “In fact, my credit union card’s current purchase APR is 12.75 percent variable — much less than the current average interest rate and even the 17 percent to 19 percent minimum APR you see on popular cards nowadays.”
Credit union cards typically don’t have flashy rewards, but their business model allows them to pass savings back to customers at lower rates. But if you want the lowest interest rate possible, be prepared to give up rewards.
“You can get some pretty low rates for credit cards, but they usually are from smaller banks/credit unions and won't offer many rewards,” one r/CreditCards user commented*.
Although online users and Bankrate experts recommend always paying in full and taking advantage of your credit card’s grace period to avoid interest altogether, the right low-interest card can mitigate unavoidable charges.
“I still try to avoid carrying a balance since I don’t want to owe interest or hurt my credit score,” Yarbrough says of his low-rate card. “But my credit union card has definitely saved me money in a pinch before, like on college textbooks while between paychecks and on hefty moving expenses when I needed to stay liquid for a month or two."
*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Be sure to check the issuer's website/terms and conditions for all up to date content. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.
In the news: Federal Reserve rates stay steady despite slowing inflation
The Federal Reserve has again decided to leave interest rates as is after their July meeting. New projections show that rates may only be cut once this year, while some policymakers are predicting two cuts this year overall. This means that, despite slowing inflation, consumers will continue to see high rates on credit cards, loans, and mortgages.
The best way to combat stagnant rates and high prices is by getting rid of your debt as quickly as possible. By having a low-interest credit card, you guard yourself against a higher-than-necessary interest rate. Plus, some low-interest cards come with balance transfer offers, which can help you save hundreds in interest and give you time to focus on paying down your debt.
Our data: What’s the average approval rate of low-interest cards?
Around 2 out of 3 adults in the U.S. between 18 and 29 years old had at least one credit card in 2023. And while many credit cards are available for almost any type of person, approval isn’t guaranteed.
We dug into our data and looked at the average approval ratings for Bankrate users applying for credit cards on our site.
According to our proprietary data, Bankrate user approval rate for the low-interest credit cards on our site started at around 64 percent in January 2024, but has steadily declined since. The biggest dips were in spring: in March, only 57 percent of users were approved; April’s approval rates dipped to 54 percent and then dropped to 49 percent in May. This could be due to the anticipation of summer vacations, when cardholders may spend more and have higher balances. However, approval rates increased to 51 percent in June, which shows that approvals may be rising again.
If you want to know which low-interest cards you have the best chance of being approved for, check out Bankrate’s CardMatch tool to get a better idea of your approval odds or see if the issuer offers preapproval for the card you want.
Ask the experts: Is it possible to get a card with a low interest rate if you have bad credit?
Erica Sandberg
Contributor, Credit Cards
There is a strong correlation between the interest rate you are eligible for and your credit score. The higher your credit score is, the better the rate issuers offer you might be. Even if your credit score is poor, however, you won't be charged any interest if you keep the balance to zero. Most cards will give you a 25 to 30 day grace period. It won’t matter how high your interest rate is, issuers won’t charge finance fees as long as you pay your bill in full before or by the due date. The more you do that, your credit score should rise, so if and when you want a new credit card with a low APR, you will be in a better position to qualify.
Frequently asked questions about low-interest credit cards
How we assess the best low-interest credit cards
When evaluating the best balance transfer and low-interest cards, we consider a mix of factors, including how cards score in our proprietary card rating system and whether cards offer features that fit the priorities of a diverse group of cardholders.
This includes users who need to carry a balance long term, need as much time as possible to chip away at debt or are looking for maximum long-term value via rewards.
We analyzed over 100 of the most popular balance transfer and low-interest cards and scored each based on its introductory APR, intro APR period length, ongoing APR, balance transfer fee, perks and more to determine whether it belonged in this month’s roundup.
Here’s a quick look at how our rating methodology breaks down for low-interest cards:
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Intro APR and offer length for new purchases 40%
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Ongoing APR 35%
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Intro APR and offer length for balance transfers 13%
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Balance transfer, annual and other fees 12%