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Best Low Interest Credit Cards

The number one rule for credit cardholders is to always pay in full and on time every month. If you do, you free yourself from your card’s high interest rate. The problem, however, is that most people in the United States do not follow this simple rule, which is why they end up paying high interest rates.

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When Do You Incur Interest Fees With Your Card?

Paying credit card bills on time when there are plenty of other bills waiting to be paid can be tough. Furthermore, it can be more difficult to pay your card dues in full if you have spent more than you can actually afford. To help you with this dilemma, obtaining a card with low APR and low interest may help.

Variable and Fixed APR

Most cards that you will find today make use of variable APR, especially those that claim to have the lowest interest fees. These rates fluctuate depending on the Prime Rate, which is the best rate most banks are willing to offer. While a variable rate may give you a lower rate when the national economy gets stronger, it is hard to tell that your card will maintain its low rate.

Many years ago, card issuers used to offer a rate that a customer could either accept or decline. Some cards still operate this way, but most of them today use your credit score to determine your rate. They may also require you to have excellent credit rating before you could avail of the lowest interest rate possible.

Choices for Best Low Interest Cards

If you are searching for cards that have the lowest interest rates, read on. Below are the best low interest credit cards that you can choose from:

Capital One® Venture Rewards

Normally, a rewards card would not be in a list of cards with low interest rates. However, this card from Capital One® grants the cardholders an attractive rate while providing a reputable rewards structure. Plus, this has no annual fee and foreign transaction fee as well.

PenFed Promise VISA Card


Unlike other cards with 0% introductory offer, this has 7.49% intro APR. Other cards will provide the promo rate for 18 months at the most, but this PenFed card’s intro period lasts for three years. Based on the Prime Rate, this card will only increase twice a year if the PR goes up. Nevertheless, the standard APR is only 9.99%. You will also appreciate the fact that the credit union does not favor fees, so you don’t have to pay annual fees, balance transfer fees, late fees, over the limit charge, and penalty APR as well.

Discover® Motiva Card

For more than a year, all purchases you make will be APR-free, making this an ideal card for those who are planning to make a huge purchase. After that, the competitive interest rate will take over. This card lets you earn up to 5% rebate of your interest each month if you pay on time. This has no annual fee and you can even earn rewards for your purchases.


Slate® from Chase

If you are searching for a simple card with no rewards, this affordable credit card is a great choice. Slate® from Chase has low interest rate, which is waived for 15 months. The variable APR is more reasonable than the other cards’ APR and this does not charge an annual fee.


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