Best Low-Interest Credit Cards

Low-interest credit cards are ideal for those who want a credit card’s convenience but don’t want to get stuck with high-interest payments every month. They’re also a good way for people who are new to credit familiarize themselves with the responsibility of having a credit card. 

There are so many low-interest credit cards on the market, many of which come with appealing rewards programs and other benefits. The card you select depends on your spending habits and financial needs, so do your research before applying.

To help you in the decision process, CreditKarma breaks down the best low-interest cards for this year.

Bank of America Travel Rewards

Great for: Travel rewards on a budget

Intro purchase APR: 0% for 12 months

Regular purchase APR: 14.99% – 22.99%

Annual fee: $0

What you’ll get:

 

  • Unlimited 1.5 points for every dollar you spend on everything
  • No foreign transaction fees
  • No expiration on rewards
  • Get 25,000 extra online points when you spend $1,000 within 90 days (worth $250 in statement credit for travel)
  • No restrictions on websites or dates when you want to book your next reservation
  • Redeem rewards for statement credits to cover car rentals, hotel stays, airline tickets, baggage fees, and more
  • Bank Of America Preferred Rewards members can get bonus points worth 25% to 75% more for any transaction
  • Contactless payment options

 

Citi Diamond Preferred Card

Great for: Balance transfers

Intro purchase APR: 0% for 18 months

Regular purchase APR: 14.74% – 24.74% 

Annual fee: $0

What you’ll get:

 

  • Pay $5 or 3% whenever you transfer, depending on which amount is more 
  • Free online FICO Score access
  • Access to Citi Entertainment, which gives you exclusive perks like tickets, sporting events, concerts, dining trips, and much more
  • $0 Liability on fraudulent purchases and Citi Identity Theft Solutions give you peace of mind

 

Chase Freedom Unlimited

Great for: Getting maximum cash back rewards

Intro purchase APR: 0% for 15 months

Regular purchase APR: 14.99% – 23.74%

Annual fee: $0

What you’ll get:

 

  • $200 when you use your credit card to buy $500 worth of purchases within 90 dags of opening your account
  • 5% cash back rewards when you spend $12,000 on groceries in the first 12 months (excluding Walmart and Target)
  • Unlimited 1.5% cash back on all other purchases
  • 5% cash back on travel when you book with Chase, plus 3% on dining and drugstores and 1.5% on everything else
  • No expiration on rewards and no minimum amount to redeem

 

Petal 2 Visa Credit Card

Great for: First-time credit card users

Intro purchase APR: N/A

Regular purchase APR: 12.99% – 26.99%

Annual fee: $0

What you’ll get:

 

  • Absolutely no fees ever, including international fees, annual fees, late fees, etc.
  • Immediate 1% cash back rewards on qualifying purchases
  • Up to 1.5% cash back when you pay on time for 12 months
  • Up to 10% cash back points on purchases made at eligible merchants
  • $500 to $10,000 credit limit, depending on your credit score
  • Access to the Petal mobile app, which helps users easily track their account, rewards, spending, and set up automatic payments
  • No hard credit inquiry, get pre-approved in minutes
  • Petal sends your credit activity to the three major credit bureaus so you can improve your score
  • Unsecured credit card issued by WebBank

 

Discover it Cash Back

Great for: All-around credit card use

Intro purchase APR: 0% for 14 months

Regular purchase APR: 11.99% – 22.99% 

Annual fee: $0

What you’ll get:

 

  • New cardholders get Discover’s Unlimited Cashback Match, which matches your cash back rewards earned during your first year
  • No minimum spending requirement or limit on the number of rewards you can get
  • 5% cash back on all purchases made at qualifying merchants (changes quarterly), including Amazon, supermarkets, dining, gas stations
  • Unlimited 1% cash back on everything else
  • No expiration on rewards and no restrictions to redeem cash back
  • Notifications if Discover finds your Social Security number on the Dark Web
  • Free activation

 

Bank of America Cash Rewards

Great for: Versatile cash back rewards

Intro purchase APR: 0% for 12 months

Regular purchase APR: 13.99% – 23.99%

Annual fee: $0

What you’ll get:

 

  • $200 online cash bonus when you spend $1,000 within 90 days
  • 3% cash back on all purchases in a specific category (your choice) and 2% cash back at supermarkets and wholesale clubs, up to $2,500 total
  • 1% unlimited cash back on everything else
  • No expiration date on rewards
  • Bank of America Preferred Rewards members can receive 25% to 75% bonus cash back on all purchases
  • Contactless payment options

 

Source
  • CreditKarma. “Low Interest Credit Cards.” CreditKarma, www.creditkarma.com/credit-cards/low-interest.
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