Maria Adams, Credit Cards Moderator
@m_adams
One of the best low interest credit cards for fair credit is the Petal® 2 Visa® Credit Card because it is possible to get an interest rate of 13.74% (V), depending on your overall creditworthiness. That is the low end of a range from 13.74% to 27.74% (V), however, so it might be optimistic to assume you’ll get a rate that low.
The Petal 2 Card also offers 1 - 1.5% cash back. On top of that, the card’s annual fee is $0.
Best Low Interest Credit Cards for Fair Credit
- Overall: Petal® 2 Visa® Credit Card
- Unlimited Cash Back: Upgrade Visa® Card with Cash Rewards
- Low Fixed APR: First Progress Platinum Prestige Mastercard® Secured Credit Card
It’s worth mentioning that when you have fair credit, getting a credit card with a low APR may not be the best option. Fair credit won’t qualify you for too many of the 0% APR deals offered by a lot of credit cards these days. And with a fair credit score, you probably won’t get the lowest APR available from any of the low interest credit cards.
Store credit cards can offer deferred interest to people with fair credit. But you should be careful with deferred interest deals – if you don’t pay the full amount by the time the deferred interest period is over, you’ll owe your balance plus all the interest you would have accrued since you made the purchase.
HSBC Premier World Credit Card
Frankie Solomon, WalletHub Analyst
@frankie.solo
The lowest interest options for fair credit are secured credit cards, meaning you’ll have to put down a deposit in the amount of the credit limit you want. So financing a big purchase on one of these cards wouldn’t get you ahead. It would require you to pay more of a deposit - which means you aren’t really getting a loan - plus an annual fee. If you’re planning on financing a purchase, you’re better off just paying for the purchase up-front.
Archie Conway, WalletHub Financial Advisor
@ArchieConway
Several student credit cards have 0% intro APRs, which could help you save on a big purchase or two if you’re in school and have built a fair credit score already. But hardly any credit cards offer low regular APRs, whether you have fair credit or great credit. Paying your credit card bill in full and earning rewards is the way to go.
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