A credit card’s interest rate is one of the most important factors to consider when choosing a Visa or MasterCard. The interest rate can add up to hundreds of additional dollars per year if the consumer is not careful. Therefore, a person who is shopping for a credit card will want to look for options that provide low interest rates. Some cards have 0 percent introductory rates while other cards have low rates that last the duration that the consumer has the card. The following are some cards with the best interest rates:
Discover It
The Discover It card is a featured-packed card with a 0 percent introductory rate as its main feature. The Discover It card offers a 0 percent introductory rate for the first 14 months the consumer has the card. The rate then changes to 10.99 to 22.99 percent. The Discover It card has a wealth of benefits such as 5 percent cash back rewards, no annual fee, no foreign transaction fee, no over-the-limit fee, and a complimentary credit score every month. The Discover It card is excellent for consumers who are looking for the total package.
Barclaycard Rewards MasterCard
The Barclaycard Rewards MasterCard is a credit card that consumers with average credit can obtain. The card company approved debtors who have a minimum credit score of 610 points. The card offers a 24.99 percent variable rate and no annual fee. The best feature of the Barclaycard Rewards Card is that a cardholder can earn points for discounts on airfare and accommodations. The company offers two points for every dollar the cardholder spends. Additionally, the company offers a complimentary FICO score to its cardholders so they can keep track of their credit scores on a regular basis.
Chase Slate
The Chase Slate card is a viable option for consumers who have high credit scores. The Slate Card has a 0 percent introductory annual percentage rate for the first 15 months of card ownership. Afterward, the APR can be as low as 12.99 percent, or as high as 22.99 percent. The Slate Card has a wealth of additional benefits such as fraud alerts, purchase protection, auto pay and free additional cards. Purchase protection provides cardholders with up to $50,000 worth of protection per account. Fraud alerts are messages to a cardholder’s account that come if the company detects any foul play or fraudulent activity.
Union Bank Platinum Edition Visa Card
Union Bank offers a card that has a 0 percent APR for 12 billing cycles. The regular APR will be between 9.99 and 19.99 percent, which is very low compared to other cards. The Union Bank Platinum Edition Visa Card also offers no annual fee, an extended warranty, purchase protection, travel accident insurance, auto rental insurance and more.
A consumer can take advantage of a low APR card for balance transfers and building credit. Low APR cards give the consumer the opportunity to enjoy his or her card without worrying about additional fee build-up. A wide variety of low APR options is available.