Low Interest Credit Cards

Written by Jared Vincenti
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The interest charged on a credit card is called the Annual Percentage Rate, or APR for short. The lower your APR, the less the credit card company charges you to use its credit services. Thus, most people look for credit cards with as low an APR as possible, because nobody wants to pay more than they have to for money.

Getting a Low Interest Rate

The lowest interest rates on credit cards are reserved for people with good credit. While it seems unfair that the people who are sure to pay back loans are the ones to pay the least for their loans, credit card companies compete for the business of these people. By offering a lower APR, a credit card company can attract more people with good credit, and thus spend less on collections.

If you don't have perfect credit, you can still look for credit cards with low interest rates. They are out there, and while you won't get as low an APR as someone with a better credit score, you can still get a fair rate. The thing to watch out for is that many cards advertise a low APR, but hide the details in the fine print.

The two biggest things to watch out for are "introductory" and "variable" APR cards. These will offer an almost unbelievably low APR to begin with, and then raise the interest rate after a few months. Unfortunately, by this time most people have accumulated a balance on the card that they cannot immediately pay off, and are then stuck with the card and its high APR.


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