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The best low-interest credit cards can help you save money on interest charges while you're carrying a balance. To get a sense of what's a low rate, you could compare a card's annual percentage rate (APR) to the average APR for cards—16.3% for credit cards accrue interest, according to the latest data from the Federal Reserve. These cards may give you a lower rate, depending on your creditworthiness.
5 Partner Offers
| Our Picks for the Best Low-interest Credit Cards | |
|---|---|
 Upgrade Cash Rewards Visa® | 8.99% - 29.99% APR $0 annual fee |
 Platinum Prestige Mastercard® Secured Credit Card | 15.24% variable APR $49 annual fee |
 Chase Freedom Flex℠ | 20.49% - 29.24% variable APR $0 annual fee |
 Wells Fargo Active Cash® Card | 20.24% - 29.99% variable APR $0 annual fee |
 Capital One SavorOne Cash Rewards Credit Card | 19.99% - 29.99% variable APR $0 annual fee |
Upgrade Cash Rewards Visa®
The Upgrade Cash Rewards Visa® isn't a credit card, but it could be a good option for someone who wants to make purchases and pay them off over time.
The card is connected to a personal line of credit, and you can transfer funds to your bank account or use the card to make purchases. Your transactions are then combined and turned into an installment loan with a fixed interest rate and monthly payment.
The fixed repayment plans can be easier to manage than a traditional credit card balance. You'll also earn 1.5% cash back on your purchases after making your monthly payments, and there's no annual fee. However, unlike credit cards, there's also no grace period, and interest starts to accrue right away.
Platinum Prestige Mastercard® Secured Credit Card
Some secured cards have a high interest rate, but the Platinum Prestige Mastercard® Secured Credit Card isn't one of them. Its standard 15.24% variable APR is lower than you may find on other secured and unsecured cards alike. And because it's secured, you don't need good credit to qualify.
It has a $200 minimum refundable security deposit, which you'll need to send to the card issuer before your account can be opened. You can send more if you want a higher credit limit. The card also reports to all three major credit bureaus (Experian, TransUnion and Equifax), which can help you build credit.
The card does have a $49 annual fee. Compare your options and your estimated interest payments. In some cases, a secured card that has a higher APR but doesn't charge an annual fee might save you more money.
Read full reviewPlatinum Prestige Mastercard® Secured Credit Card
on First Progress's website
Recommended FICO® Score*
Platinum Prestige Mastercard® Secured Credit Card
APR
15.24% Variable
Intro APR
Rewards
Earn 1% Cash Back Rewards with First Progress! Make Payments, Earn Rewards.
Annual Fee
$49
Card Details
- Get a First Progress Prestige Card and Earn 1% Cash Back Rewards!
- First Progress Builds Your Credit for as Little as $200!1
- Start Fixing Your Credit with Just $200!1 Quick and Complete Online Application; No credit inquiry required!
- No Credit History or Minimum Credit Score Required!
- Receive Your Card More Quickly with New Expedited Processing Option!
- Apply to Add a First Digital Mastercard to your wallet after 6-months of on-time payments!
- Manage your statements, transactions and rewards on the First Progress Card Mobile App!
- Monthly Reporting to all 3 Major Credit Bureaus to Establish Credit History
- Credit Line Secured by Your Fully-Refundable Deposit of $200 -- $2,000 Submitted with Application
- Get a Fresh Start! A Discharged Bankruptcy in Your Credit File Will Not Cause You to Be Declined.
- 1Cardholders who keep their balance low and pay their credit card bill on time every month typically do see an increase in their credit score
Chase Freedom Flex℠
The Chase Freedom Flex℠ has a 15-month introductory 0% APR offer for purchases. Once the intro period ends, the card's standard variable APR is 20.49% to 29.24%.
You can earn $200 bonus cash back after spending $500 within 3 months of opening your account, plus 5% cash back on up to $12,000 in grocery store purchases during the first year (not including purchases at superstores such as Target and Walmart). You can also earn ongoing rewards with bonus cash back on rotating categories, travel purchased through Chase Ultimate Rewards, dining and drugstores. All other eligible purchases receive a 1% cash back rate.
The card also offers a variety of other cardholder benefits—and doesn't have an annual fee.
Wells Fargo Active Cash® Card
In addition to potentially low ongoing rates, the Wells Fargo Active Cash® Card has an introductory 0% APR on purchases and qualifying balance transfers. The promotional rate lasts for 15 months once you open your account. After that, the standard variable APR of 20.24% - 29.99% will apply to remaining balances.
Balance transfers must be made within 120 days of opening your account to qualify for the intro rate. Additionally, there's a 3% ($5 minimum) balance transfer fee during the first 120 days, followed by a 5% ($5 minimum) balance transfer fee.
Interest rates aside, cardholders can benefit from earning unlimited 2% cash back on all their purchases and the lack of an annual fee.
Read full reviewWells Fargo Active Cash® Card
on Wells Fargo's website
Recommended FICO® Score*
Wells Fargo Active Cash® Card
APR
20.24%, 25.24%, or 29.99% Variable APR
Intro APR
Rewards
Earn unlimited 2% cash rewards on purchases
Intro Bonus
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
Annual Fee
$0
Card Details
- Select “Apply Now” to take advantage of this specific offer and learn more about product features, terms and conditions.
- Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
- Earn unlimited 2% cash rewards on purchases.
- 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers. 20.24%, 25.24%, or 29.99% Variable APR thereafter; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5.
- $0 annual fee.
- No categories to track or remember and cash rewards don’t expire as long as your account remains open.
- Find tickets to top sports and entertainment events, book travel, make dinner reservations and more with your complimentary 24/7 Visa Signature® Concierge.
- Up to $600 of cell phone protection against damage or theft. Subject to a $25 deductible.
Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne Cash Rewards Credit Card has a 15-month intro 0% APR offer that applies to purchases and balance transfers. Once the intro offer expires, the standard variable APR of 19.99% - 29.99% for purchases and balances transfers kicks in. There's a 3% balance transfer fee if you receive a promotional balance transfer APR.
As a new cardholder, you can earn a one-time $200 intro bonus after spending $500 within 3 months of account opening. You may also benefit from ongoing rewards. There's a 3% cash back rate on dining, entertainment, popular streaming services and groceries (excluding superstores like Walmart and Target). Cardholders get a 1% cash back rewards rate for all other purchases.Through January 2023, this card also earns 8% cash back on tickets at Vivid Seats. This card doesn't have an annual fee.
How Much Carrying a Credit Card Balance Costs You
Credit cards could accrue interest daily, and the interest may compound—meaning you pay interest on the interest that's already accumulated.
If you think you might wind up carrying a balance and paying interest, you use a credit card payoff calculator to estimate how much interest you'll pay.
In 2020, Experian found that the average credit card balance was $5,315. If you wanted to pay off an account with a balance of that amount and an APR of 16.3% over 10 months, you'd pay $572 a month and $405 in interest. If you took 15 months to pay it off, you'd pay $394 a month and $595 in interest.
How to Choose the Best Low-interest Credit Card
Finding the best low-interest credit card depends, in part, on how you plan to use the card.
- If you want a card for a large upcoming purchase: A card that has an intro 0% APR offer may be best. Even if it has a high standard APR, you can avoid paying interest if you pay off the balance before the promotional period ends.
- If you want a card for emergencies: Focus on the card's APR rather than rewards. The rewards a card offers won't matter much if you don't regularly use the card. It's also a good idea to look for a card that doesn't have an annual fee if you plan on using it for this purpose.
- If you want a card for everyday purchases: A rewards card might be a good fit. You may be able to use rewards to save money or pay off part of the balance. However, rewards cards also tend to have higher APRs. And if you're tempted to use the card more often and wind up carrying a balance, you could pay more in interest than you earn in rewards.
It also may make sense to have different cards for different purposes. For instance, some people will use a rewards card for their everyday spending and have a different card for emergencies.
Check Your Credit Before Applying
Your credit history and score can also impact which credit cards you may be able to get. You can check your credit score from Experian for free. Experian CreditMatchTM credit card marketplace can provide personalized credit card offers based on your credit profile.