WalletHub’s editors compared 1,000+ offers to find the best low interest credit cards for both groups. Here are their top picks:
2017’s Best Credit Cards with Low Interest Rates
|Best For...||Card Name||Intro Rate||Regular APR||Annual Fee||Credit Required||Editors' Rating|
|New Purchases||Citi® Diamond Preferred® Card||0% for 21 months||13.24% - 23.24%||$0||Excellent||5 Stars|
|Balance Transfers||Chase Slate®||0% for 15 months||15.49% - 24.24%||$0||Good||5 Stars|
|Low Regular Rate||Barclaycard Ring MasterCard®||N/A||13.49%||$0||Excellent||3.8 Stars|
|Fair Credit (Honorable Mention)||USAA Rate Advantage Platinum Visa®*||N/A||7.40% - 24.40%||$0||Fair||3 Stars|
|Bad Credit (Honorable Mention)||First National Bank of Omaha Secured Visa® Credit Card||N/A||18.24%||$0||Bad||4.7 Stars|
*Only available to the military community: current and former members as well as immediate family.
Whenever you carry a balance on a credit card from month to month, make sure to do so with a purpose (and a credit card calculator). Have a good reason for getting into debt and a specific plan for how and when you’re going to get out of it. For example, getting a 0% credit card before a big-ticket purchase and paying off your balance before the 0% term ends is a great approach. Racking up expensive interest charges simply because you’re spending above your means is not.
Finally, it’s important to note that the best low interest credit cards don’t necessarily have the absolute lowest APRs on the market. Rather, they combine a very low APR with other attractive terms, such as no annual fee or lenient approval requirements. If you’re interested in finding out which cards have the lowest of the low regular APRs, here they are:
10 Credit Cards with the Lowest Interest Rates
|Card Name||Annual Percentage Rate||Min. Credit Required|
|Coast Guard Auxiliary Platinum Rewards Credit Card||10.24% (V)||Good|
|American Society of Military Comptrollers Platinum Rewards Credit Card||10.24% (V)||Good|
|Coast Guard Auxiliary Association Cash Rewards Credit Card||10.24% (V)||Good|
|U.S. Army Warrant Officer Association Defender American Express Credit Card||10.24% (V)||Good|
|U.S. Army Warrant Officers Association Platinum Rewards Credit Card||10.24% (V)||Good|
|Air Force Club Credit Card||10.49% (V)||Good|
|Army MWR Credit Card||10.49% (V)||Good|
|Navy Credit Card||10.49% (V)||Good|
|Marine Corps Credit Card||10.49% (V)||Good|
|EverCard Visa Platinum Credit Card||10.50% (V)||Excellent|
As you can see, most of the credit cards with the lowest interest rates have a military focus. You don’t have to be a member of the armed forces to qualify, though. For example, anyone can join the Pentagon Federal Credit Union (PenFed), which issues the first five cards on the list, with a one-time payment of $14 or $15.