2017 RANKING & REVIEWS
TOP RANKING BEST LOW INTEREST CREDIT CARDS


Introduction: The Best Low APR Credit Cards and Low-Interest Credit Card Offers

When it comes to finding the best credit card, finding the lowest credit card rates is usually what first comes to people’s minds.

While we may all plan on paying off our monthly balances in full each payment cycle, the reality is that when the end of the month rolls around, there often isn’t enough money in our checking accounts to pay off the balance in full. Finding credit cards with low interest is an important way to ensure that our credit card use if helpful, not harmful.

Thousands of people each year sign up for credit cards with searching for the best credit card interest rates. At the same time, thousands of people suffer from unsustainable credit card debt because of not understanding the debt burden that comes with high annual percentage rates and irresponsible credit card use.

Finding the lowest credit card rates should be a number one priority for anyone looking to sign up for a new credit card.

Best Low Interest Credit Cards

Award Emblem: Top 6 Best Low Interest Credit Cards

In this brief article, AdvisoryHQ will explain why some banks issue low interest rate credit cards while others charge an arm and a leg in interest. We will then go on to look at the top six best low-interest credit cards and offer a helpful comparative chart with some important information on each of these best credit card interest rates. 

In our FAQ section we will look at other factors to consider with low-interest credit card offers as well as explain who qualifies for credit cards with low interest rates. Finally, we offer a thorough review of six of the top low-interest credit cards offering the best credit card rates on the market today.

See Also: Best Credit Cards for People with No Credit History | Ranking and Reviews


Why Do Banks Issue Low Interest Rate Credit Cards?

The credit card industry is highly competitive, and there are hundreds of banks all vying to gain your business.

Our economic system is growing increasingly cashless, and more and more people are relying on credit cards and debit cards for their everyday purchases. The banks understand that most consumers look for two things in a credit card: no annual fee and the lowest credit card rates.

By offering credit cards with an introductory low APR, many banks are hoping to gain another long term client. The introductory APR on most low APR credit cards is at least 10 percentage points below the normal rate. Some low-interest credit cards may go so far as to offer 0% APR for up to a year as a way to entice potential customers to sign up.

As a consumer, you might plan on using your low-rate credit card only during the low APR introductory rate. However, if you build up a large balance on that card, it might be more expensive to transfer that balance to other credit cards with low APR. The big banks understand that once you begin using your card, it’s not all that easy to switch to other credit cards with low interest. 



AdvisoryHQ’s List of the Top 6 Best Low-Interest Credit Cards

List is sorted alphabetically (click any of the credit card names below to go directly to the detailed review section for that credit card):


Top 6 Best Low APR Credit Cards | Brief Comparison & Ranking

Credit Card Names

Mini
APR % on Purchase

Max
APR % on Purchase

Intro Duration

BB&T Bright® Card

8.4%

17.4%

15 months

BB&T Spectrum Rewards Card

10.4%

19.4%

12 months

Commerce Bank Special Connections®

10.49%

20.49%

6 months

PNC CoreSM Visa®

10.24%

20.24%

15 months

Sun Trust Cash Rewards Credit Card

10.49%

21.49%

15 months

U.S. Bank Platinum Visa Card

10.24%

21.24%

12 months

Table: Top 6 Best Credit Card Rates | Above list is sorted alphabetically



Other Factors to Consider in a Low-Rate Credit Card

The banks that promise the lowest credit card rates are not always the best option for you. While finding a card with the best credit card rates may indeed save you hundreds of dollars in interest payments over the long run, you also need to take into consideration other factors.

If you tend to forget to make your payments on time, it’s important to know the late fee penalty your credit card company charges. If you have a low-rate credit card but are being charged upward of $50 every time you miss your payment date by a few days, you’re most likely losing more through stiff penalty fees than what you’re potentially saving with the best credit card interest rates. 

Furthermore, you should also be aware of the duration of the introductory APR on low-interest credit card offers. Almost all of the major companies that claim to have the best credit card rates base that claim on their introductory APR rates.

For example, some low APR credit cards may offer a super low introductory APR of only 5–6%, but that rate may only last for 6 months. Other low APR credit cards, however, may have an introductory APR of 10% that lasts for 18 months. While the introductory APR on some low interest rate credit cards may appear lower at the outset, you should always check on the duration of those best low-interest credit cards.


Who Can Qualify for Credit Cards with Low Interest Rates?

According to Bankrate.com, “the primary APR on most credit card transactions is based largely on the credit card holder’s credit score, which includes the payment history on that particular card as well as other forms of credit. A lower credit score almost always means a higher APR.”

While all of us may want low-interest rate credit cards, the fact of the matter is that if you don’t have a halfway decent credit score, you probably won’t be approved for the best low-interest credit cards. If you carry a balance month to month on your credit cards, low APR credit cards are a great way to save money.

The good news is that if you responsibly make timely payments on your monthly balance, you should see a notable increase in your credit score over time and may be able to apply for the low-interest rate credit cards that previously turned you away. Furthermore, as the industry grows more competitive, more and more low APR credit cards will become available to people with middle-of-the-road credit scores.

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AdvisoryHQ’s Selection Methodology

What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services, and products that are ranked on its various top-rated lists?

Please click here “AdvisoryHQ’s Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top-rated credit cards, financial accounts, firms, products, and services.


Detailed Review—Top Ranking Best Low-Interest Credit Cards

Below, please find the detailed review of each credit card on our list of low-interest credit cards. We have highlighted some of the factors that allowed these credit cards with low APR to score so high in our selection ranking.



BB&T Bright® Card Review


The BB&T Bright® Card is one of the best low-interest credit cards on the market. You can enjoy a 0% introductory APR for 15 months on all purchases and balance transfers (excluding cash advances).

Image Source: BB&T Bright® Card

Among low-interest rate credit cards, the BB&T Bright® Card has some of the lowest adjustable rates after the introductory rate expires. The adjustable APR on this top low-rate credit card is only between 8.40% and 17.40%.

Furthermore, this low-rate credit card comes with no annual fee and has quality online banking features that give you access to your account information 24/7. The Zero Liability Protection Program that comes with these best low-interest credit cards also protects you from any sort of fraud or theft.



BB&T Spectrum Rewards Card Review


The BB&T Spectrum Rewards Credit Card is another option for quality low APR credit cards that we couldn’t ignore. A 0% introductory APR for 12 months comes with this low-rate credit card. After the introductory period, the adjustable APR is between 10.40% and 19.40%.

Image Source: BB&T Spectrum Rewards Credit Card

While the APR is slightly higher than other best low-interest credit cards, this low-rate credit card also comes with a quality rewards program where dollars spent with the card become dollars earned. Instead of a complicated points programs that other low APR credit cards offer, the BB&T Spectrum Rewards Card allows you to redeem your earned dollars in cash back programs, gift cards, merchandise, and travel.

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Commerce Bank Special Connections® Review


The Commerce Bank Special Connections® card is another of the best low-interest credit cards available. The 0% introductory APR is only for a six-month period, which is significantly shorter than other low-interest rate credit cards. However, this low-rate credit card comes with a variable APR between 10.49% and 20.49%, which is better than other low APR credit cards.

Image Source: Commerce Bank Special Connections®

Furthermore, the Commerce Bank card also comes with a fantastic rewards program that allows you to earn up to 3% cash back for certain purchases. That cash back rewards program outcompetes the majority of other low interest rate credit cards. Another perk of this low-rate credit card is that it comes with a $100,000 Travel Accident Insurance benefit. 



PNC CoreSM Visa® Review


The PNC CoreSM Visa® offers a 0% introductory APR for 15 months, which is one of the longest introductory periods among the best low-interest credit cards. The rate increases to between 10.24% and 20.24% after that, which is still a decent rate amongst the low APR credit cards.

Also, this low-rate credit card offers a unique perk. You can receive a $100 cash bonus by making at least $1,000 in purchases during the first 3 months of having your card. Among the best low-interest credit cards, this cash bonus is one of the best you’ll find.

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Sun Trust Cash Rewards Credit Card Review


The Sun Trust Cash Reward Credit Card is another of the best low-interest credit cards that also comes with a decent rewards program. This low-rate credit card comes with a 0% introductory rate for 15 months. The APR after that is a decent 10.49% to 21.49%. Furthermore, there is no annual fee on this card.

Source: Sun Trust Cash Reward Credit Card

The real perk of this low-rate credit card, however, is the cash back reward program. You can earn up to 5% cash back on gas and grocery purchases at participating retailers during the first 12 months of having the card. You would be hard pressed to find a better cash back offer among other low interest rate credit cards. 


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U.S. Bank Platinum Visa Card Review


Among low APR credit cards, the U.S. Bank Platinum Visa Card is one of the best low interest rate credit cards for people needing good access to their cash. There are more than one million ATMs in the U.S. Bank ATM network, meaning that you can gain access to your funds pretty much anywhere.

 

Image Source: U.S. Bank Platinum Visa Card

Furthermore, this low-rate credit card also offers a 12-month introductory APR and a decent adjustable-rate APR after the introductory period between 10.24% and 21.24%. This quality card also allows you to choose your payment due date each month depending on your schedule and when you get paid. This feature can help you avoid late payments or extra interest charges. 

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Conclusion—Top 6 Low Interest Rate Credit Cards

Finding low APR credit cards shouldn’t be a hard task, especially if you have a decent credit score. Credit cards with low interest rates can help you save hundreds of dollars in interest payments, especially if you tend to carry a monthly balance on your cards.

Furthermore, the rewards programs offered by many credit cards with low interest add other perks and benefits. Any of the six low interest rate credit cards that we reviewed above could be an excellent option for your financial needs.



AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.