9 Best Low Interest Credit Cards

9 Best Low Interest Credit Cards

30
Hours
Researched
115
Products
Evaluated

After 30 hours of research evaluating 115 products, we picked Chase Freedom Unlimited® as our top choice.

Living life on borrowed funds doesn’t come cheap. The average credit card interest rate is around 17%, and some cards have rates nearly double that.

Not sure how your credit card’s interest rate affects you? We’ll break it down a bit:

Let’s say you owe $1,000 on a credit card with a 17% APR on purchases. You can calculate your daily APR by dividing 365 into 17, which equals approximately $0.046575.

That means you pay $0.046575 in interest each day. Maybe that doesn’t sound like much, but multiply that number by 30 or 365, and you’ll see just how much credit cards cost over time.

Want to avoid racking up interest on your credit card purchases? Just pay off your purchases before each billing cycle ends rather than carrying a balance.

If that’s not an option, consider applying for low interest credit cards or 0 interest credit cards. You generally need excellent credit to qualify for low interest credit cards, so you might have to repair your credit before you apply. We recommend starting with one of the cards on our list of the best credit cards for bad credit.

Ready to stop forking over so much money for hefty APR fees? Check out the best low interest credit cards below!

Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated October 11, 2019 but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

9 Best Low Interest Credit Cards

  • 9. HSBC Gold Mastercard® credit card
  • 8. Citi Simplicity® Card
  • 7. Blue Cash Everyday® Card from American Express
  • 6. Bank of America® Travel Rewards Credit Card
  • 5. Citi® Double Cash Card
  • 4. Chase Freedom®
  • 3. The Platinum Card® from American Express
  • 2. Chase Sapphire Preferred®
  • 1. Chase Freedom Unlimited®

HSBC Gold Mastercard® credit card

HSBC Gold Mastercard® credit card
Get from HSBC
346 Clicks
Variable APR
14.24%, 20.24% or 25.24%
Cash Advance APR
27.24%
Rewards Rate
n/a
Annual Fee
$0
Intro APR
0% introductory APR on purchases and balance transfers for 15 months. Variable APR of 14.24%, 20.24% or 25.24% after the Introductory period.
Bonus Offers
n/a
86 % Editor Score
80 % User Score

Why People Love it

  • Long introductory APR promotion
  • Light on the fees
  • Includes additional travel perks

  • No interest on purchases and balance transfers for 18 months
  • No annual fee or foreign transaction fees
  • Travel accident insurance, lost luggage protection, and more
  • No rewards program
  • Charges a balance transfer fee
Expert Ratings

Application Process: Apply online, and get a decision within 60 seconds or less.

Rewards: None.

Bonus Offers: None.

Annual Fee: None.

Details:HSBC Gold Mastercard® credit card »

Best Balance Transfer Credit Card for Long-Term Use

Citi Simplicity® Card

Best Balance Transfer Credit Card for Long-Term Use: Citi Simplicity® Card
Get from Citi
283 Clicks
Variable APR
15.49% - 25.49%
Cash Advance APR
15.49% to 25.49%
Rewards Rate
n/a
Annual Fee
$0
Intro APR
0% on purchases and balance transfers for 18 months
Bonus Offers
n/a
82 % Editor Score
86 % User Score

Why People Love it

  • Generous with fees
  • Extended introductory APR promotion
  • Set your own due date

  • No late fees or penalty APR
  • No annual fee
  • No rewards program
  • High balance transfer fee
Expert Ratings

Application Process: Apply online and get a response within 60 seconds.

Bonus Offers: None.

Rewards: None.

Annual Fee: None.

Details:Citi Simplicity® Card »

Best Balance Transfer Credit Card from American Express

Blue Cash Everyday® Card from American Express

Best Balance Transfer Credit Card from American Express: Blue Cash Everyday® Card from American Express
Get from K.klopy
311 Clicks
Variable APR
14.74% - 25.74%
Cash Advance APR
26.99%
Rewards Rate
3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
Annual Fee
$0
Intro APR
0% on purchases and balance transfers for 15 months
Bonus Offers
$150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
80 % Editor Score
86 % User Score

Why People Love it

  • Great rewards on everyday spending categories
  • Generous promotional APR and no annual fee
  • Bonus for new cardholders

  • Earn up to 3% cash back on everyday spending
  • Get extra cash back and discounts through Amex Offers
  • No annual fee
  • You could earn more rewards with the Blue Cash Preferred® Card from American Express
  • The card's APR is above-average
  • Its base rewards rate is mediocre
Expert Ratings

Application Process: Apply online and get a response within 60 seconds.

Bonus Offers: You'll earn $150 in Reward Dollars after you spend $1,000 in the first three months. 

Rewards: Earnn 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%); 2% cash back at U.S. gas stations and at select U.S. department stores; 1% back on other purchases.

Annual Fee: None

Details:Blue Cash Everyday® Card from American Express »

Best Travel Rewards Credit Card with No Annual Fee

Bank of America® Travel Rewards Credit Card

Best Travel Rewards Credit Card with No Annual Fee: Bank of America® Travel Rewards Credit Card
Variable APR
16.49% - 24.49%
Cash Advance APR
19.49% to 26.49%, based on creditworthiness
Rewards Rate
1.5 points for every $1 you spend on all purchases
Annual Fee
$0
Intro APR
0% for the first 12 billing cycles
Bonus Offers
20,000 bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening - which can be redeemed for a $200 statement credit toward travel purchases
80 % Editor Score
88 % User Score

Why People Love it

  • Offers a decent sign-up bonus and rewards rate for no annual fee
  • You can earn up to 2.625 points per dollar with Bank of America Preferred Rewards
  • Introductory APR promotion on purchases

  • Decent rewards for no annual fee
  • No foreign transaction fees
  • The card doesn't offer big rewards and perks like annual-fee travel cards
  • Rewards aren't as flexible as cash-back rewards
Expert Ratings

Application Process: Apply online and receive a response in as little as 60 seconds. 

Rewards: Earn unlimited 1.5 points per dollar spent on all purchases. Points can be applied towards statement credit or any travel purchases, including flights, hotels, vacation packages, cruises, rental cars or baggage fees.

Bonus Offers: Receive 25,000 online bonus points if you make at least $1,000 in purchases in the first 90 days, which can also be used as a $250 statement credit toward travel purchases. Also get an additional 10% customer points bonus on every purchase when you have an active Bank of America checking or savings account. If you're a Preferred Rewards client, you could increase that bonus to 25% - 75%, depending on how much is in your account. For a card with no annual fee, we think the bonus offers are pretty legit!

Annual Fee: None.

Details:Bank of America® Travel Rewards Credit Card »

Best Total Cash Back Card

Citi® Double Cash Card

Best Total Cash Back Card: Citi® Double Cash Card
Get from Citi
320 Clicks
90 % Editor Score
90 % User Score

Why People Love it

  • Earn an industry-leading rewards rate
  • Get a pass on your first late fee
  • No annual fee

  • Get an effective 2% rewards rate on all purchases
  • No caps on rewards
  • The card no longer offers a 0% introductory APR promotion
  • Its APR is high

Application Process: Apply online, and get a decision within 60 seconds or less.

Rewards: Earn 1% cash back when you make a purchase, then 1% back when you pay it off. You can claim your rewards as a statement credit, gift card, or a check in the mail, with a minimum cash back redemption amount of $25 required.

Annual Fee: None.

Details:Citi® Double Cash Card »

Best Promotional APR Credit Card for Cash Back Rewards

Chase Freedom®

Best Promotional APR Credit Card for Cash Back Rewards: Chase Freedom®
Get from G.glopm
318 Clicks
Variable APR
16.24% - 24.99%
Cash Advance APR
26.24%
Rewards Rate
1.5%
Annual Fee
$0
Intro APR
0% on purchases and balance transfers for 15 months
Bonus Offers
Earn a $150 bonus after you spend $500 on purchases in your first 3 months from account opening.
85 % Editor Score
97 % User Score

Why People Love it

  • Unlimited cash-back rewards for qualifying purchases
  • Promotional APR for 15 months on both purchases and balance transfers
  • No annual fee

  • Earn up to 5% cash back on everyday purchases
  • Offers a decent sign-up bonus
  • Charges a high balance transfer fee
  • The card's rewards program is somewhat complex
Expert Ratings

Application Process: Apply online and get a response within 60 seconds.

Rewards: Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate; unlimited 1% cash back on all other purchases.

Bonus Offers: Score a $150 Bonus after you spend $500 on purchases during your first 3 months as a cardholder. Get $25 more when an authorized user makes their first purchase in the same 3 month period.

Annual fee: None.

Details:Chase Freedom® »

Best Premium Card

The Platinum Card® from American Express

Best Premium Card: The Platinum Card® from American Express
Get from D.derrt
302 Clicks
Variable APR
n/a
Cash Advance APR
n/a
Rewards Rate
5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel. 5X Membership Rewards® points on eligible hotels booked on amextravel.com. 1X points on all other purchases.
Annual Fee
$550
Intro APR
n/a
Bonus Offers
Earn 60,000 Membership Rewards® points after you use your new Card to make $5,000 in purchases in your first 3 months.
76 % Editor Score
94 % User Score

Why People Love it

  • No foreign transaction fees
  • Premium perks, including airline fee credits, Uber credits, and other travel perks
  • Bonus rewards on eligible airline and hotel purchases through Amex Travel

  • Luxury travel perks for the frequent traveler
  • Make up for the annual fee through benefits and rewards
  • Charges a sky-high annual fee
  • Offers a low rewards rate on everyday spending
  • The airline fee credit is limited to just one airline and only on incidental fees
Expert Ratings

Application Process: Apply online and get a response within 60 seconds.

Rewards: Earn 5X points on flights booked directly with airlines or with Amex Travel, and hotel stays booked through Amex Travel. Earn 1X points on all other purchases.

APR: None; it's a charge card and requires you to pay your balance in full each month.

Annual Fee: $550.

Details:The Platinum Card® from American Express »

Best for Flexible Redemption

Chase Sapphire Preferred®

Best for Flexible Redemption: Chase Sapphire Preferred®
Get from V.vuyti
424 Clicks
Variable APR
17.49% - 24.49%
Cash Advance APR
26.49%
Rewards Rate
2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
Annual Fee
$0 for the first year, then $95
Intro APR
n/a
Bonus Offers
Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
86 % Editor Score
91 % User Score

Why People Love it

  • Offers a large signup bonus compared to similar cards
  • You'll get a rewards boost if you use your points to book travel through Chase
  • Redeem points for airlines and hotels, without being tied to any specific companies

  • You can use points to book travel through Chase, get cash back or gift cards, or transfer them to one of Chase's travel partners
  • The card itself is metal instead of plastic
  • You'll get premium travel protections
  • Base rewards rate is mediocre
  • Charges an annual fee
Expert Ratings

Application Process: Online, through Chase.

Rewards: Earn 2X points on travel and dining purchases worldwide, and 1 point per dollar spent elsewhere.

Bonus Offers: Earn 50,000 rewards points for every $4,000 spent for the first three months, which is $625 towards travel when redeemed through the Chase Ultimate Rewards program. If you add an authorized user who makes a purchase within the first 3 months, you’ll earn an additional 5,000 points.

Annual Fee: $0 for the first year, then $95.

 

Details:Chase Sapphire Preferred® »

Best Overall Cash Back Credit Card

Chase Freedom Unlimited®

Best Overall Cash Back Credit Card: Chase Freedom Unlimited®
Get from Z.zenaw
313 Clicks
Variable APR
16.24% - 24.99%
Cash Advance APR
26.24%
Rewards Rate
1.50%
Annual Fee
$0
Intro APR
0% on Purchases and Balance Transfers for 15 months
Bonus Offers
Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
86 % Editor Score
87 % User Score

Why People Love it

  • If you have more than one Chase credit card, you can earn more by transferring points and splitting your spending between the two cards
  • Freedom and flexibility: the flat 1.5% cash back rate isn't limited to a specific category
  • The bonus offers are easily attainable and include a $150 bonus after spending $500 within 3 months after opening. Plus, you'll earn a $25 bonus after you add an authorized user and make a purchase in the same period.

There's a lot to love about the Chase Freedom Unlimited cash back credit card. It provides a high rewards rate with no nonsense in terms of rotating spending categories - just a flat 1.5% back on every purchase you make with the card. With responsible use, you won't have to pay a penny to use this card, as there's no annual fee. 

As far as actually getting the cash back you've earned, there's no minimum required for redemption, and cash back earnings can be redeemed for any amount (unlike the Chase Freedom card, which requires a minimum $20). On top of that, there's a relatively small minimum spend required to earn the lucrative account opening bonus.

The Chase Freedom Unlimited card doesn't offer any specific bonus categories, due to its nature as a flat-rate cash back credit card. So those who know their high-spending categories (like groceries, for example) may want to opt instead for a cash back credit card that caters to their spending habits.

While going through this list, you'll also notice that it's not the highest flat-rate cash back card around. There's also a foreign transaction fee, so if you want a credit card specifically for international travel you should look into opening a credit card that caters specifically to travelers. 

Expert Ratings

Application Process: Online, over the phone, or at a branch. Online is the easiest method, but it's nice to know that you have options!

Annual Fee: No annual fee! How's that for maximizing the money in your pocket? Balance transfer fees are $5 or 5% of the transferred amount (whichever is greater).

APR: 0% for the first 15 months, then a variable APR of 16.24% to 24.99%. 

RewardsYou can redeem your rewards as cash back in the form of:

  • Bank account deposits
  • Statement credits

Or, you can also redeem rewards using the Chase Ultimate Rewards points. Ultimate Rewards points are worth 1 cent each and may be claimed through the Ultimate Rewards portal for:

  • General merchandise purchases made through the portal, or third-party retailers (such as Amazon)
  • Travel purchases 

Bonus Offers: Earn a $150 bonus after spending $500, within 3 months after opening a new account. Additionally, you can also earn $25 if you opt to add an authorized user of the card, and that person makes their first purchase within the 3 month period.

Details:Chase Freedom Unlimited® »

We value your feedback

What did you think of 9 Best Low Interest Credit Cards?
9 Best Low Interest Credit Cards
4.79 Stars (16 Votes)

Vote to enter our $100 Amazon Gift Card giveaway.

Article Staff

Missy Nolan is a single mom who is too sleep-deprived to come up with a clever bio at the moment. She has been a professional writer for more than 10 years and loves staying home with her 3 kids. Well, most of the time. Missy rocks at parenting, baking, cooking, saving cute outfits she'll never wear on Pinterest, and sipping her beloved secret-menu Starbucks Pink Drink while strolling through Target.

She's your go-to girl for advice or feedback on any of the things listed above, as well as tips on healthy living, bargain hunting, marketing, and finances. Connect with Missy here or at MakeItWithMissy.com, a food blog that features healthy recipes and grocery deals.

You can also find Missy on Legit Lender, Health.com, The Nest, Catalogs.com, and OneSpace.

Editor Jenna Holtz
Researcher Ronnie Langston
Art Director Cherry Barbacena

Join the conversation

9 Best Low Interest Credit Cards

Thanks for reading my article. I value your feedback and invite you to join the conversation:

  • Share your opinion on the list
  • Suggest an item for consideration
  • Review items you've tried
— Missy Missy Nolan

You May Also Like

See more in Credit Cards

Never make a dumb purchase again
Our tips in your mailbox:
for access to exclusive free content -- it's easy!
Newsletter signup