Get rewards and benefits such as zero liability and roadside dispatch.
Visa is one of the largest card networks accepted worldwide. It often comes with security features, travel perks and complimentary benefits such as insurance. However, if you want the best perks and features, getting a premium Visa card could be a better choice.
Compare Visa credit cards
Types of cheap low-rate Visa credit cards
Visa offers a variety of credit cards that fall into this category. These include:
- Balance transfer cards. These cards often come with a 21-month 0% intro APR period. This can be used to transfer your balance from an existing credit card and pay off the balance interest-free. Be sure to pay off your balance before the intro period ends.
- Low-purchase-rate cards. This type of card offers a 0% intro APR period on purchases for as long as 18 months. Cashback cards are usually the ones that offer this perk in addition to 0% intro APR period on balance transfers.
- Low-cash-advance-rate cards. Cash advance APR is often the highest rate you pay with a card. It can be up to 30% and start accruing from the moment you make your cash advance or an equivalent transaction, such as gambling. Credit cards issued by credit unions typically have lower cash advance APR than bank-issued cards.
- Cards with no annual fee. For this type of card, you won’t pay anything to own the card. Consider a card with an annual fee if you’re looking to earn higher rewards or get additional perks.
What makes a Visa credit card cheap?
Visa credit card
Cheap Visa credit cards charge a lower rate for balance transfers, purchases and cash advances, and they often come with no annual fee. Visa Gold cards often fall into this category.
So, a cheap credit card can mean different things to different spenders. Those who pay their balance in full each month may not actually require a low rate for a card to be cheap. Instead, they may want to opt for a low-annual-fee card. Those who pay off a balance regularly, however, may find a low rate is a better indicator that a credit card is cheap.
Here are some benefits that all Visa cards grant their cardholders:
- Lost card reporting. If you lose your card, call 1-800-847-2911 and Visa representatives will notify your bank and they can replace your card.
- Verified by Visa. This feature allows you to get extra security when shopping online at participating stores.
- Visa zero liability policy. This is the second notable security feature that states you won’t be held responsible for fraudulent transactions that you report to your bank.
- Roadside dispatch. Whenever you need assistance for changing a tire, towing, jump-starting, fuel delivery or standard winching, call 1-800-847-2869 and Visa roadside dispatch will help you out.
How to compare low-rate Visa credit cards
When looking for the right low-rate Visa card, some of the feature to keep an eye on are:
- Rewards program. Many Visa cards come with rewards either as a cash back or points for a partner rewards program. This can include rewards for hotels, airlines, cruise lines or a retailer such as Walmart or Amazon.
- Annual percentage rate. Paying low interest can save you lot of money in the long run. A 0% intro APR period is often the first choice, but you should also consider the ongoing rate after the intro period expires. So if you’re looking for an intro period, cashback cards issued by banks are often the way to go. On the other hand, credit unions rarely offer 0% intro APR period, but they offer way lower APR than their bank counterparts.
- Fees. Depending on how you use your card, there is a number of fees you can incur. Keep an eye on balance transfer fees, cash advance fees, late payment fees, returned payment fees and overlimit fees.
- Additional benefits. Possible benefits include complimentary insurance policies for travel, airport lounge access or free checked bags. Cheaper cards aren’t usually noted for being strong in this area but it still pays to factor this into your comparison.
Pros and cons of cheap low-rate Visa credit cards
- Pay less in fees and interest
- May have smaller credit card surcharge when compared to American Express and Diners Club cards
- Accepted at millions of merchants worldwide
- Don’t earn as many rewards as premium cards
- Don’t offer as high signup bonus as premium cards
- Don’t offer as many features as premium cards
If you’re looking for solid no-annual-fee credit cards with a potentially lower APR, you’ll find a variety of Visa cards that might be good choices for you. But if you want to earn higher rewards or get additional features, getting a premium Visa card may be worth considering.
If you still haven’t found the right credit card for you, make sure to compare your options until you find the right card.
Frequently asked questions
Pictures: Getty ImagesBack to top