The best credit cards to get are the ones with the lowest interest. This way more money can be saved, and it can be put towards the initial charges, instead of paying overwhelming amounts of interest. However, there is really no cards that really have low interest, but some do have a 0% interest rate for a specified time frame.
The top credit cards with lower interest rates are Discover It chrome, Chase Slate, Chase Freedom, Discover It, and Blue Cash Preferred from American Express. All of these cards have different reward systems and time periods for the 0% interest rate and all of them currently have the lowest rates in the market.
The Discover It chrome is the newest card so far on the market and also the lowest interest rate after the initial introductory period. This introductory period where the interest rate is 0% is for 14 months and thereafter the interest rate will be between 10.99-22.99%. The 0% rate applies to both new purchases and for transferred balance. However, when transferring a balance amount, they will charge a 3% fee. This card doesn’t have an annual fee.
The Chase Slate card is the best card for transferring balances since it doesn’t charge any fee within the first 2 months, after that the fee is 3%. The 0% interest rate is valid for 15 months and applicable to both balance transfers and new purchases. The only bad thing about this credit card is that it doesn’t have any sort of reward programs, but then again, this card is the best for transferring balances.
The Chase Freedom is a cash back reward card and also has pretty low interest rates. The 0% interest rate is valid for 15 months on both transferred balances and purchases. After the initial 15 months, depending on the cardholder’s credit score, the interest will be 13.99-22.99%. This card gives a $100 bonus after spending $500 in first 90 days with the opportunity to earn another $25 bonus by adding another user and spending money on that card. The cash back is between 1-5% depending on the categories. This card doesn’t require an annual fee.
Another good cash back card is the Discover It. This card does not have any annual fee, and if it is used overseas no foreign transaction fee either. For the initial 14 months the interest rate is 0% and after that the rate will be between 10.99-22.99%. The cash back potential ranges between 1-5% depending on the categories for the quarter.
This low interest card, which is called the Blue Cash Preferred By American Express, is the only card that has an annual fee of $75. For 15 months the 0% interest rate is applicable to both balances transferred and purchases. After that the interest rate will shoot up to 12.99-21.99% depending on the credit score of the cardholder. The best part about this card is that if it is used at supermarkets 6% rewards will be given up to $6,000. For people with families who are looking to earn points this is the best card.