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Best low-interest credit cards for October 2024

Updated October 03, 2024

Advertiser Disclosure: The listings that appear on the website are from credit card companies from which Bankrate receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers. Here's an explanation for and how we rate our cards.

Best low-interest credit cards for October 2024

Updated October 03, 2024

Advertiser Disclosure: The listings that appear on the website are from credit card companies from which Bankrate receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers. Here's an explanation for and how we rate our cards.

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Showing 11 results

Best for long intro APR offers

Wells Fargo Reflect® Card

Bankrate score

star iconstar iconstar iconstar iconstar icon
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4.3
Bankrate review
Recommended credit score:(670 - 850)
Apply nowLock
on Wells Fargo's secure site
See Rates & Fees

Purchase intro APR

0% intro APR for 21 months from account opening

Regular APR

17.74%, 24.24%, or 29.49% Variable APR

Intro offer

N/A

Rewards rate

N/A

Best for rotating-category cash back

Discover it® Cash Back

Bankrate score

star iconstar iconstar iconstar iconstar icon
star iconstar iconstar iconstar iconstar icon
4.4
Bankrate review
Recommended credit score:(670 - 850)
Apply nowLock
on Discover's secure site
See Rates & Fees

Purchase intro APR

0% for 15 months

Regular APR

17.74% - 27.74% 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

Bank of America® Customized Cash Rewards credit card

Bankrate score

star iconstar iconstar iconstar iconstar icon
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4.1
Bankrate review
Recommended credit score:(670 - 850)
Apply nowLock
on Bank of America's secure site

Purchase intro APR

0% Intro APR for 15 billing cycles for purchases

Regular APR

18.74% - 28.74% 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

Bank of America® Unlimited Cash Rewards credit card

Bankrate score

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3.8
Bankrate review
Recommended credit score:(670 - 850)
Apply nowLock
on Bank of America's secure site

Purchase intro APR

0% Intro APR for 15 billing cycles for purchases

Regular APR

18.74% - 28.74% 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.

Best for families

Blue Cash Everyday® Card from American Express

Bankrate score

star iconstar iconstar iconstar iconstar icon
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4.6
Bankrate review
Recommended credit score:(670 - 850)
Apply nowLock
on American Express's secure site
See Rates & Fees, Terms Apply

Purchase intro APR

0% on purchases for 15 months

APR

18.74%-29.74% 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

Capital One SavorOne Cash Rewards Credit Card

Bankrate score

star iconstar iconstar iconstar iconstar icon
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5.0
Bankrate review
Recommended credit score:(670 - 850)
Apply nowLock
on Capital One's secure site
See Rates & Fees

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.

Best for large purchases

Wells Fargo Active Cash® Card

Bankrate score

star iconstar iconstar iconstar iconstar icon
star iconstar iconstar iconstar iconstar icon
4.3
Bankrate review
Recommended credit score:(670 - 850)
Apply nowLock
on Wells Fargo's secure site
See Rates & Fees

Purchase intro APR

0% intro APR for 12 months from account opening

Regular APR

19.74%, 24.74%, or 29.74% Variable APR

Intro offer

$200 cash rewards

Rewards rate

2%

Best 1.5% cash back card

Capital One Quicksilver Cash Rewards Credit Card

Bankrate score

star iconstar iconstar iconstar iconstar icon
star iconstar iconstar iconstar iconstar icon
3.8
Bankrate review
Recommended credit score:(670 - 850)
Apply nowLock
on Capital One's secure site
See Rates & Fees

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.

Best for flat and bonus cash back rates

Chase Freedom Unlimited®

Bankrate score

star iconstar iconstar iconstar iconstar icon
star iconstar iconstar iconstar iconstar icon
4.8
Bankrate review
Recommended credit score:(670 - 850)
Apply nowLock
on Chase's secure site

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.

Best for everyday spending

Citi Rewards+® Card

Bankrate score

star iconstar iconstar iconstar iconstar icon
star iconstar iconstar iconstar iconstar icon
4.0
Bankrate review
Recommended credit score:(670 - 850)
Apply nowLock
on Citi's secure site
See Rates & Fees

Purchase intro APR

0% intro for 15 months on Purchases

Regular APR

18.24% - 28.24% (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.

Best credit union card

Gold Visa® Card

Gold Visa® Card

Bankrate score

star iconstar iconstar iconstar iconstar icon
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3.6
Bankrate review
Recommended credit score:(670 - 850)

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.

compare
Compare

Compare Bankrate’s top low-interest credit cards

Card Name Variable APR Best for Bankrate review score
Intro Offer: N/A
Regular APR: 17.74%, 24.24%, or 29.49% Variable APR

Long intro APR offers

4.3 / 5

Info Icon
(Read card review)
Apply now Lock Icon
on Wells Fargo's secure site
Intro Offer: Cashback Match
Info Icon
Regular APR: 17.74% - 27.74% Variable APR

Rotating-category cash back

4.4 / 5

Info Icon
(Read card review)
Apply now Lock Icon
on Discover's secure site
Intro Offer: $200
Info Icon
Regular APR: 18.74% - 28.74% Variable APR on purchases and balance transfers

Best for home improvement

4.1 / 5

Info Icon
(Read card review)
Apply now Lock Icon
on Bank of America's secure site
Intro Offer: $200
Info Icon
Regular APR: 18.74% - 28.74% Variable APR on purchases and balance transfers

Bank of America Customers

3.8 / 5

Info Icon
(Read card review)
Apply now Lock Icon
on Bank of America's secure site
Intro Offer: Earn $200
Info Icon
Regular APR: 18.74%-29.74% Variable

Families

4.6 / 5

Info Icon
(Read card review)
Apply now Lock Icon
on American Express's secure site
See Rates & Fees , Terms Apply
Intro Offer: $200
Info Icon
Regular APR: 19.99% - 29.99% (Variable)

Dining and grocery rewards

5.0 / 5

Info Icon
(Read card review)
Apply now Lock Icon
on Capital One's secure site
Intro Offer: $200 cash rewards
Info Icon
Regular APR: 19.74%, 24.74%, or 29.74% Variable APR

Large purchases

4.3 / 5

Info Icon
(Read card review)
Apply now Lock Icon
on Wells Fargo's secure site
Intro Offer: $200
Info Icon
Regular APR: 19.99% - 29.99% (Variable)

1.5% cash back

3.8 / 5

Info Icon
(Read card review)
Apply now Lock Icon
on Capital One's secure site
Intro Offer: Up to $300 cash back
Info Icon
Regular APR: 20.49% - 29.24% Variable

Flat and bonus cash back rates

4.8 / 5

Info Icon
(Read card review)
Apply now Lock Icon
on Chase's secure site
Intro Offer: 20,000 points
Info Icon
Regular APR: 18.24% - 28.24% (Variable)

Everyday spending

4.0 / 5

Info Icon
(Read card review)
Apply now Lock Icon
on Citi's secure site
Image of Gold Visa® Card
Gold Visa® Card
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 17.74% 0.050% $6,501 $325.05

*Using each card’s lowest possible Variable APR. 

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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

  • Credit Card Search Icon

    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.

  • Rates Down Icon

    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.

  • Calendar Clock Icon

    Consider the long-term value

    While having a low interest rate can be great in the long term, not every low-interest card maintains value over time. Ensure your card has value beyond initial 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.

  • Loan Icon

    Calculate your current debt

    How much credit card debt do you have, if any? A balance transfer credit card might be better 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 that last longer than a year.

Still unsure if a low-interest credit card is right for you? Check out our Credit Card Spender Type Tool to 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. 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." 

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*.

Luckily for cardholders, interest rates are decreasing thanks to the Federal Reserve’s decision to cut rates in its September meeting. Although one cut won’t make much of a difference for long, this decision can help alleviate the pressure Americans felt for the past year under interest rate hikes.

“Credit card debt isn’t going to go away on its own. It’s probably your highest-cost debt by a wide margin and Fed rate cuts aren’t going to change that,” says Ted Rossman about credit card debt and rate cuts.

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 drops rates in September meeting

Relief may be on the horizon for cardholders. In the September meeting, the Federal Reserve dropped interest rates for the first time since 2020. This means lower interest rates for cardholders and, hopefully, a sign of more interest rate drops in the future. While this is a great sign, it won’t resolve the effects of high inflation in 2023.

The best way to combat stagnant rates and high prices is by getting rid of your debt as quickly as possible. Having a low-interest credit card protects you 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?

Debt drove trends in 2024, with half of American cardholders carrying credit card debt. Because financial strain is so common, it may have led to approval rates for low-interest cards dropping steadily for most of the year.

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 rates for the low-interest credit cards on our site started around 64 percent in January 2024 but steadily declined as banks reported tightening standards on credit card products in Q2. The most significant dips were in spring and summer: 57 percent of users were approved in March and only 49 percent in May. These trends closely follow data from the Federal Reserve Bank of New York’s June 2024 SCE Credit Access Survey, which shows that 16.5 percent and 21.7 percent of credit card applicants were rejected in February and June 2024, respectively.

However, approval rates on our site increased from 54 percent in June to 56 percent in August, which suggests 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?


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.

Financial Educator, Debt and Credit

The average credit card rate is now well above 20 percent. For consumers with blemished credit history, the rates are typically closer to 30 percent due to the increased risk for the issuer. Consumers with bad credit will find it difficult to qualify for any unsecured credit card and may have to start with a secured credit card to help build or rebuild positive credit history. Consumers with bad credit who apply for an unsecured credit card will typically only be approved for sub-prime cards with a low credit limit and high interest rate. These cards may also carry high fees. Bad credit users should take special care not to carry a balance on the card or use more than one-third of the credit limit at any one time.

Contributor, Personal Finance

If you have bad credit, your options for cards might be limited, and your focus should be doing what you can to get your credit score up. Shop around for the lowest rate you can find. No matter what the interest rate is on the card you do get, the best thing to aim for is to not put more on your card than what you can comfortably pay off every month by your due date. It doesn’t matter what the interest rate is if you aren’t carrying a balance. Frequent on-time payments will help you build your score up to land a lower rate card.

Frequently asked questions about low-interest credit cards

How we assess the best low-interest credit cards

Document Icon
100+
card ratings
Credit Card Apr Icon
400+
APRs tracked
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3000
data points analyzed
Credit Card Reviews Icon
40+
perks evaluated

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:

5
Rating: 5 stars out of 5
Overall Score
  • Intro APR and offer length for new purchases 40%
  • Ongoing APR 35%
  • Intro APR and offer length for balance transfers 13%
  • Balance transfer, annual and other fees 12%