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California Bank & Trust AmaZing Low Rate Visa® Card
California Bank & Trust AmaZing Low Rate Visa® Card
- 9.74% to 15.74% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 9.74% to 15.74% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 19.24% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from account opening date Intro Purchase APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- 0% introductory APR on purchases and balance transfers
- Receive a $50 bonus statement credit after making $2,000 in purchases within the first 90 days
- Access to AmaZing Deals coupon app
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 9.74% to 15.74% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 6 months from account opening date
- Balance Transfer APR: 9.74% to 15.74% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each balance transfer, whichever is greater
- Cash Advance APR: 19.24% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 3% of the U.S dollar amount of each transactio
- Late Payment Penalty Fee: Up to $10
- Return Payment Penalty Fee: Up to $25
- N/A
Citizens Bank Business Platinum Mastercard®
Citizens Bank Business Platinum Mastercard®
- 13.24%, 19.24%, 22.24% or 24.24% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 28.49% variable with the market based on the Prime Rate Cash Advance APR
- 0% for 6 months from account opening date Intro Purchase APR
At a Glance
The Citizens Bank Business Platinum Mastercard® isn’t particularly enticing but might be handy for product-based retail start-ups that require only a small amount of overhead (up to $25,00) whose owners have a less-than-stellar credit score and otherwise can’t qualify for better business card offers.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- 0% introductory APR on purchases for 6 months after account opening
- Lower interest rates than a personal credit card
- Zero liability for unauthorized account purchases
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 13.24%, 19.24%, 22.24% or 24.24% variable based on creditworthiness and the Prime Rate
- Cash Advance APR: 28.49% variable with the market based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or up to 5% of each advance, whichever is greater
- Penalty APR: 27.49%
- Foreign Transaction Fee: Either $1.50 or 3% of the U.S. dollar amount of transactions, whichever is greater.
- Late Payment Penalty Fee: $39
- Return Payment Penalty Fee: $20
- Over Limit Penalty Fee: $39
- You're a small business owner looking for a simple and straightforward card
- You will take advantage of an introductory 0% APR offer on purchases for the first six months
- You want a card with no annual fees
- You don’t mind passing up rewards or signup bonuses
National Bank of Arizona AmaZing Rate® Credit Card
National Bank of Arizona AmaZing Rate® Credit Card
- 5.99% to 11.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 5.99% to 11.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 5.99% to 11.99% variable based on creditworthiness and the Prime Rate Cash Advance APR
- 0% for 6 months Intro Purchase APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Enjoy the convenience of one of the lowest interest rates for personal cards on the market
- 0% introductory APR on purchases for 6 months after account opening
- 0% introductory APR on balance transfers for 12 months after account opening
- No annual fee
- Visa Zero Liability
- Intro Purchase APR: 0% for 6 months
- Regular Purchase APR: 5.99% to 11.99% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 12 months
- Balance Transfer APR: 5.99% to 11.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 5.99% to 11.99% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 3% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $25
- Return Payment Penalty Fee: Up to $25
- N/A
Blue from American Express®
Blue from American Express®
- 23.99% variable based on the Prime Rate Regular Purchase APR
- 25.24% variable based on the Prime Rate Cash Advance APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- 2X points on travel when booked through AmexTravel.com
- 1X points on all other purchases
- Unlimited earnings
- Redeem points towards merchandise or as statement credit
- Regular Purchase APR: 23.99% variable based on the Prime Rate
- Cash Advance APR: 25.24% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Penalty APR: 29.99% variable based on the Prime Rate
- Foreign Transaction Fee: 2.7% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- N/A
NYCB Platinum Edition Card
NYCB Platinum Edition Card
- 14.24% to 23.24% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 14.24% to 23.24% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 25.24% variable based on the Prime Rate Cash Advance APR
At a Glance
The NYCB Platinum Edition Visa Credit Card offers a lengthy introductory 0% interest rate on balance transfers of 15 months, plus a reduced fee for making transfers for the same period. The card also benefits from a $25 statement credit for making a purchase within the first three months of opening an account – all for no annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- $25 statement credit when you make a purchase within the first 3 months
- Introductory 3% balance transfer fee for the first 15 months
- 0% intro APR on balance transfers for 15 months
- Regular Purchase APR: 14.24% to 23.24% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 15 months from account opening date
- Balance Transfer APR: 14.24% to 23.24% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: 3% of the transfer for the first 15 months; 5% of the transfer or $15, whichever is greater, after that
- Cash Advance APR: 25.24% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $15 or 5% of the amount of each cash equivalent transaction, whichever is greate
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $35
- You have existing balances you want to pay down over 15 months
- You want to earn an easy bonus of $25 for making the first purchase
- You don’t want to pay an annual fee
- You live in the Greater New York area
BBVA Optimizer Credit Card®
BBVA Optimizer Credit Card®
- 22.24% variable based on the Prime Rate Regular Purchase APR
- 22.24% variable based on the Prime Rate Balance Transfer APR
- 31.24% variable based on the Prime Rate Cash Advance APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Designed for people who need to build or improve their credit history
- Credit line can be increased anytime with deposits to savings account
- Acceptance at over 28 million locations worldwide that accept Visa®
- Competitive APR on purchases
- Regular Purchase APR: 22.24% variable based on the Prime Rate
- Balance Transfer APR: 22.24% variable based on the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 4% of the amount of each transfer, whichever is greater
- Cash Advance APR: 31.24% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 4% of the amount of each cash advance, whichever is greater
- Annual Fee: $40
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $37
- Return Payment Penalty Fee: Up to $27
- Minimum Deposit Required: $500
- N/A
USAA Rewards™ American Express® Card
USAA Rewards™ American Express® Card
- 14.9% to 30.9% variable based on creditworthiness Regular Purchase APR
- 14.9% to 30.9% variable based on creditworthiness Balance Transfer APR
- 14.9% to 30.9% variable based on creditworthiness Cash Advance APR
At a Glance
The USAA Rewards™ American Express® Card is designed to reward cardholders who use it for everyday things such as gas, groceries, and dining out. Once enough rewards points are earned they can be redeemed for cruises, airline tickets, gift cards, or cash.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Unlimited Points — 3X points for dining out, 2X points on gas and groceries, and 1X points for every dollar spent on other purchases
- No annual fee
- Added Protection — We help give you peace of mind with: Experienced support if your identity is stolen, extended warranties on your purchases, and travel accident and baggage delay insurance
- Pay no foreign transaction fees when you travel outside the U.S.
- Regular Purchase APR: 14.9% to 30.9% variable based on creditworthiness
- Intro Balance Transfer APR: 0% Introductory APR through your 02/01/2024 billing cycle
- Balance Transfer APR: 14.9% to 30.9% variable based on creditworthiness
- Balance Transfer Transaction Fee: 3% of the amount of each transfer
- Cash Advance APR: 14.9% to 30.9% variable based on creditworthiness
- Cash Advance Transaction Fee: 3% of the amount of each cash advance. Fee waived when transferring funds electronically to a USAA deposit account
- Late Payment Penalty Fee: Up to $35
- Return Payment Penalty Fee: Up to $35
- You're in the U.S. military or are related to someone in the U.S. military
- You frequently dine out or spend money on gas
- You want a card with no annual fee
- You want no foreign transaction fees
The Bank of Missouri Visa® Platinum Card
The Bank of Missouri Visa® Platinum Card
- 13.49% to 23.49% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 13.49% to 23.49% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 25.99% variable based on the Prime Rate Cash Advance APR
- 0% for 20 months from account opening date Intro Purchase APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- 0% introductory APR on purchases and balance transfers for 15 months
- No annual fee
- Protection against fraudulent purchases
- Auto Rental Collision Damage coverage
- Intro Purchase APR: 0% for 20 months from account opening date
- Regular Purchase APR: 13.49% to 23.49% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 20 months on transfers made within 620 days from account opening date
- Balance Transfer APR: 13.49% to 23.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
- Cash Advance APR: 25.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 2% of the transaction amount or foreign ATM advance transaction in U.S. Dollars, 3% of the transaction amount or foreign ATM advance transaction in a foreign currency
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- N/A
IBERIABANK Visa® Classic Credit Card
IBERIABANK Visa® Classic Credit Card
- 12.99%, 17.99%, or 22.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 12.99%, 17.99%, or 22.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 23.99% variable based on the Prime Rate Cash Advance APR
- 0% for 12 months from account opening date Intro Purchase APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No annual fee
- 0% Introductory APR for 12 months on purchases
- 1.99% introductory APR for 6 months on balance transfers
- Intro Purchase APR: 0% for 12 months from account opening date
- Regular Purchase APR: 12.99%, 17.99%, or 22.99% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 1.99% for 6 months for transfers made within 90 days from account opening date
- Balance Transfer APR: 12.99%, 17.99%, or 22.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: 2% of the amount of each transfer
- Cash Advance APR: 23.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $5 or 5% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 2% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $37
- Return Payment Penalty Fee: Up to $37
- N/A
Wells Fargo Platinum Visa® Card
Wells Fargo Platinum Visa® Card
- 16.49% to 24.49% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 16.49% to 24.49% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 23.99% to 25.99% variable based on creditworthiness and the Prime Rate Cash Advance APR
- 0% for 18 months from account opening date Intro Purchase APR
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- No interest paid with 0% APR for the first 18 months of account opening
- Zero Liability protection ensures that cardholders are not held responsible for unauthorized transactions when promptly reported
- Comprehensive travel protection includes accident insurance, cell phone protection, and auto rental collision damage waiver
- Ideal for paying down balances and large purchases that need to be paid over time
- Free access to FICO® Credit Score
- Intro Purchase APR: 0% for 18 months from account opening date
- Regular Purchase APR: 16.49% to 24.49% variable based on creditworthiness and the Prime Rate
- Intro Balance Transfer APR: 0% for 18 months from account opening date
- Balance Transfer APR: 16.49% to 24.49% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Introductory fee of either $5 or 3% of the balance transfer amount, whichever is greater, for 120 days from account opening. After that, up to 5% for each balance transfer, with a minimum of $5
- Cash Advance APR: 23.99% to 25.99% variable based on creditworthiness and the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each advance, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- N/A
You've viewed 5 of 95 credit cards
What is a Low APR Credit Card?
A low APR credit card is a credit card offering a relatively low annual percentage rate (APR) on purchases and/or balance transfers. This can benefit cardholders who may carry a balance on their credit card from month to month, as a lower APR means less interest paid on the outstanding balance.
A low APR means that you will pay less in interest charges, allowing you to save money in the long run. Whether you’re planning to make a large purchase or carry a balance from month to month, a low APR credit card can significantly reduce the financial burden on your shoulders.
Types of Low APR Cards
When it comes to low APR credit cards, there are a few different types to consider:
- Balance transfer credit cards: These credit cards allow you to transfer balances from high-interest credit cards to a new card with a low APR. This can help you consolidate your debt and save money on interest charges.
- Rewards credit cards with low APR: Some credit cards offer both a low APR and attractive rewards programs. These cards allow you to earn points, cash back, or travel rewards while enjoying a lower interest rate.
- Secured credit cards with low APR: If you have a limited credit history or poor credit score, secured credit cards can be a viable option. These cards require a security deposit, but they often have lower APRs than unsecured cards.
What is Considered a Low APR for a Credit Card?
When considering low interest credit cards, it’s common to first think about cards with 0% introductory offers. However, even these cards have a regular interest rate that applies after the introductory period ends. These regular APRs determine whether a card truly falls into the “low rate” category. It’s important to understand the average rates to identify cards with the best offers.
The average interest rate for different types of credit cards can vary significantly. For example, what may be considered a “low” APR for a retail card may fall within the mid-to-high range when compared to low interest balance transfer credit cards. As a result, the overall average APR across credit card categories ranges widely between 16% and 31%.
Despite this wide range, it is possible to develop a general sense of what may be considered a low APR card. Here are the average interest rates for credit cards based on credit score:
Score | APR |
---|---|
Excellent Credit | 24.49% |
Good Credit | 27.49% |
Average Credit | 29.24% |
Bad Credit | 31.74% |
No Credit | 29% |
Many low APR credit cards also offer introductory APRs for a certain number of months on balance transfers or purchases. For example, a credit card may offer 0% APR for 18 months on both purchases and balance transfers or 18 months on balance transfers only. It’s important to note that the intro APR on balance transfers does not include balance transfer fees, typically around $5 or 3% of the transfer amount, whichever is greater.
Why Choose a Credit Card with a Low APR?
Low APR credit cards are those that charge the least amount of interest for qualified cardholders who carry a balance. If you’ve ever carried a balance on a credit card, you likely know why your annual percentage rates (APRs) are important. When you choose to make only the minimum monthly payment on your card, any remaining balance earns interest. The result is then added to your next bill.
In other words, the higher the interest rate on your credit card, the more you will owe the issuer on balances carried from month to month. For instance, let’s say you make your monthly payment and leave a balance of $1,000. Here’s how two very different APRs would play out:
- 10% APR – $8.22 in interest accrued
- 20% APR – $16.44 in interest accrued
If this result seems a bit confusing, it’s because interest calculations for credit cards are based on a specific formula, which you can learn more about here. Either way, the point is easy to see: low APR cards can help you save more when you can’t make your monthly payment in full. In the long run, this makes it easier to pay off any debt since you won’t accrue as much interest over time.
Benefits of Low APR Credit Cards
Here are a few more benefits of low-APR credit cards.
Substantial Interest Savings
Firstly, low APR credit cards provide an opportunity for significant interest savings. With a lower APR, you can pay off your balance faster and save money on interest charges. This is especially advantageous if you carry a balance on your credit card from month to month.
Attractive Introductory Offers
Low APR credit cards often offer tantalizing introductory offers, including 0% APR for a specified period. These cards allow you to make purchases or transfer balances without incurring interest charges—it’s like having an interest-free loan for a limited time!
Improved Credit Score
Additionally, low APR credit cards can help you improve your credit score. By making timely payments and responsibly managing your credit card, you demonstrate to lenders that you are a low-risk borrower. This can open doors to better financial opportunities in the future, such as lower interest rates on loans and mortgages.
Tips for Managing Low-Rate Credit Cards
Here are some valuable tips to help you manage a new low APR card effectively:
- Pay on time: Timely payments are crucial for maintaining a low APR and a good credit score. Set up automatic payments or reminders to ensure you never miss a due date.
- Keep credit utilization low: Aim to keep your credit utilization ratio below 30%. This means using only a fraction of your available credit. Low credit utilization demonstrates responsible credit management and can positively impact your credit score.
- Avoid unnecessary debt: While a low APR credit card can be tempting, avoiding unnecessary debt is essential. Only make purchases you can afford to pay off within a reasonable timeframe.
FAQs
Here are answers to some of the most frequently asked questions about low-interest credit cards:
- Introductory APR offers typically run between six months to twelve months, though there are some offers of fifteen months or more. The longest initial APR period we’ve seen was around 21 months with the old Barclaycard Financing Visa.
- According to the BestCards Average Credit Card APR research, the average APR for a low-interest rate credit card is around 13%. This rate considers the APRs for different credit scores, as well as the variance between larger financial institutions and smaller credit unions.
- Yes. There are several secured credit cards that offer exceptionally low-interest rates for people with bad credit. First Progress offers two secured cards with APRs under 14%:
- Other secured cards that offer a great, low APR include the Assent Platinum 0% Intro Rate Mastercard® (12.99%, plus 0% intro APR), the Applied Bank Secured Visa® (9.99%), and the Oakstone Platinum Secured Mastercard (9.99%).
Conclusion
Low APR credit cards are powerful tools that can pave the way to financial freedom. By understanding APR, exploring the benefits, and considering various factors, you can make informed decisions when choosing a low rate credit card. Remember to manage your credit card responsibly and avoid common misconceptions. With the right low APR credit card, you can control your finances and work towards a brighter future.
Editorial Disclosure – The opinions expressed on BestCards.com's reviews, articles, and all other content on or relating to the website are solely those of the content’s author(s). These opinions do not reflect those of any card issuer or financial institution, and editorial content on our site has not been reviewed or approved by these entities unless noted otherwise. Further, BestCards.com lists credit card offers that are frequently updated with information believed to be accurate to the best of our team's knowledge. However, please review the information provided directly by the credit card issuer or related financial institution for full details.