Charles H. Miller
Banks are legally required to clearly disclose each card’s Annual Percentage Rate (APR), which represents an annual interest the bank will charge on your credit card debt. Typically banks don’t disclose a single figure but a range that varies based on each cardmember’s credit rating. And the math is simple — the better your rating, the lower APR you will get.
It is (almost) all about credit rating, but…
…some cards have a lower starting point than others. It can be tricky to select just the right card, as most of them offer similar APRs. You have to look into fine print. Or, let us do the hard work, and present you with the best options.
In any case, paying your bills on time will help you a lot. Over time, your credit rating will grow and, if you still don’t have it, at one point you’ll get the lowest possible APR for any given card.
Also, you should look beyond APR rates. We did pick cards with lowest APRs, but these cards also offer additional bells and whistles, and it could be that those added perks push you to the one side or the other. If a card already has some bonus stuff, you’re better off using it, and potentially save/earn more stuff.
Wallet Weekly’s Way – Less is More
We like lists, and we have such articles on our site. However, while these so called listicles are great for some things, for some other — we think they don’t help. For instance, if we want to present you with the best product/service, we don’t want to show you the “top 10” or “top 5” list; instead, we’ll just pick the two options. You still get the choice, but in a manner that is easier to comprehend. It is our job to go through all possible options and present you with two options you’ll want to consider. Not to shoot all the options out there and tell you: now pick and choose. Which brings us to the next section…
The Top 2 Low Interest Rate Credit Cards Are…
BankAmericard® Credit Card
The BankAmericard® Credit Card comes with a variable APR ranging from 11.24% to 21.24% on purchases and balance transfers. There is also a 0% intro APR for 18 billing cycles on balance transfers made in the first 60 days. Unfortunately, rewards don’t come included with this card, but you get to benefit from low interest payments on your balance. Something’s gotta give, I guess. There is no annual fee involved.
» Learn more and apply for the BankAmericard® Credit Card today!
Discover it® – 18 Month Balance Transfer Offer
The Discover it® – 18 Month Balance Transfer Offer has similar APR rates, though the range starts at 11.24% and ends at 23.24%. The card includes 0% introductory APR on purchases (6 months) and balance transfers (18 months), plus there are some perks included such as the ability to earn 5% cash back on purchases in rotating categories that change each quarter (up to $1500 per quarter), and 1% on all other purchases on the card. Also, with Cashback Match™, Discover will match all the cash back earned at the end of the first year – automatically. The only downside is that this isn’t Visa or MasterCard, so it won’t be as widely accepted (as those two cards). The Discover it® card also doesn’t have an annual fee.
» Learn more and apply for the Discover it® – 18 Month Balance Transfer Offer today!
