Are you tired of the unease you feel every month when you open your credit card statement? We’ve all been there. Sometimes money is tight, and paying off your credit card in full becomes a challenge. That’s where low-interest credit cards come in. They can provide you with the breathing room and flexibility you need during those tight months.
In this article, we’ll be comparing the best low-interest credit cards for January 2024. We’ve curated a selection of cards from various issuers that can fit into your financial life. So, let’s dive in and find the perfect card for you!
Best Low-Interest Credit Cards Compared 2024
| Card Name | Cash Back on Everyday Purchases | 0% Intro APR on Purchases and Balance Transfers for 15 months |
|---|---|---|
| Wings Financial Visa Platinum Credit Card | 0% Intro APR for 12 months on balance transfers and purchases | |
Our Recommendations for the Best Low-Interest Credit Cards
Best for Good Credit: Citi Diamond Preferred Card
Welcome Offer: [bonus_miles_full]
Card Details:
- Credit score needed: [credit_score_needed]
- Regular APR: [reg_apr,reg_apr_type]
Why we recommend it: If you have good credit, the Citi Diamond Preferred Card is an excellent choice. It offers a [balance_transfer_intro_apr,balance_transfer_intro_duration] and provides an opportunity to consolidate your debt. While it does have a higher balance transfer fee, it doesn’t earn rewards. However, keeping the card open after paying off your balance can help improve your credit score.
Best for Cash Back on Everyday Purchases: Blue Cash Everyday® Card from American Express
Welcome Offer: [bonus_miles_full]
Card Details:
- Credit score needed: [credit_score_needed]
- Regular APR: [reg_apr,reg_apr_type]
Why we recommend it: If groceries and gas are a significant part of your budget, the Blue Cash Everyday Card is perfect for you. With its [intro_apr_rate,intro_apr_duration], you can earn 3% cash back at U.S. supermarkets, online retailers, and gas stations. Plus, it offers a 0% APR on both purchases and balance transfers, allowing you to earn rewards while paying down your balance.
Best for Building Credit: Chase Slate Edge
Welcome Offer: [bonus_miles_full]
Card Details:
- Credit score needed: [credit_score_needed]
- Regular APR: [reg_apr,reg_apr_type]
Why we recommend it: The Chase Slate Edge is an excellent card for managing balance transfers and building credit. With its [balance_transfer_intro_apr,balance_transfer_intro_duration], you can consolidate your debt and enjoy an ongoing interest rate reduction. Additionally, it offers an automatic one-time review for a higher credit limit when you meet certain spending and payment criteria.
Best for Small Business Owners: The Plum CardR from American Express
Welcome Offer: [bonus_miles_full]
Card Details:
- Credit score needed: [credit_score_needed]
- Regular APR: [reg_apr,reg_apr_type]
Why we recommend it: If you’re a small business owner looking for extra time to pay for purchases, the Plum Card is the perfect tool. It offers a unique pay-as-you-go feature, allowing you 60 days from your statement closing date to pay for your purchases interest-free. Just make sure to pay your minimum payment on time to avoid penalty fees.
Best Credit Union Card: Wings Financial Visa Platinum Credit Card
Welcome Offer: None
Card Details:
- Regular APR: 13.40% – 18.00% Variable APR
Why we recommend it: Credit unions often offer the best ongoing interest rates on credit cards, and the Wings Financial Visa Platinum Credit Card is no exception. With an APR range of 12.90% to 18.00% variable, it provides unmatched rates compared to large national banks. Plus, becoming a Wings Financial member is accessible to anyone nationwide.
Our Methodology
To select the best low-interest credit cards, we considered the priorities of someone looking to consolidate credit card debt through a promotional balance transfer offer. We focused on the longest balance transfer period and minimal fees. While rewards are essential, they were secondary in our evaluation.
TIME Stamp: Look for the Best Combination of Features
The [card_name] offers a [intro_apr_rate,intro_apr_duration] and a path to a [reg_apr,reg_apr_type] interest rate, usually reserved for those with excellent credit scores. This combination makes it an appealing option if you have some credit card debt to pay off and occasionally need a card for balance transfers.
For rates and fees of the [card_name], please visit this URL.
Frequently Asked Questions (FAQs)
Q: Are low-interest credit cards worth it (pros and cons)?
A: Yes, low-interest credit cards are worth it if you’re carrying credit card debt. Seeking a lower interest rate is often more advantageous than chasing greater credit card rewards.
Q: Can I negotiate my interest rate on a credit card?
A: It’s worth a try! You can call your card issuer and negotiate the interest rate. Having a history of on-time payments and a strong credit score increases your chances of getting a lower rate or promotional offer.
Q: What causes interest rates on credit cards to change?
A: Credit card interest rates vary based on the prime rate, which reflects market interest rates and the cost of lending money.
The information presented here is created independently from the TIME editorial staff. To learn more, see our About page.
Remember, finding the right low-interest credit card can give you the breathing room and flexibility you need. Explore the options mentioned above, choose the one that aligns with your financial goals, and start enjoying the benefits!