We\u2019ve chosen the cards on this page based on a variety of low-interest credit cards available on the market. We\u2019ve narrowed down our top picks by considering the value of interest rates, reward points, annual fees, introductory offers and additional card benefits.<\/p>
No single credit card will be the best choice for everyone, so compare your options before picking your new card.<\/p><\/div>\n <\/div>\n<\/li><\/ul>
What is a low-interest credit card?<\/h3>
A low-interest rate credit card is a card that charges a much lower annual percentage rate (APR) than other credit cards. Interest rates usually fall between 8% and 15% on a low-interest card, which is lower than the interest rate of about 20% you get on most credit cards. Some card issuers determine the low-interest rate you\u2019re eligible for based on your credit history.<\/p>
Low interest credit cards tend to benefit people who are carrying an outstanding balance on their credit card by helping them save on paying interest.<\/p>
Example: How much can you save with a low-interest credit card?<\/h4>
Why is it better to have a low-interest rate on a credit card? Let\u2019s take a look at an example. Say you have a credit card with an outstanding balance of $1,000. If you\u2019ve committed to making a monthly payment of $20, your payments would break down like this:<\/p>