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Do you constantly run credit card balances? Need more time to pay off a big purchase than offered by zero percent APR cards? Then you should check out our Guide to Low Interest Rate Credit Cards.
A low interest credit card can help you save a substantial amount on interest. This in turn will help you pay down and pay off your debts.
When you finance a large purchase or make a balance transfer to a card with an introductory 0% APR offer, you need to worry about failing to pay in full before the offer period expires.
This is because the interest on the unpaid portion of your balance will relate back to the date of the purchase or transfer -- and not the date the offer expires. At typical rates of 15% to 25% APR, this can amount to serious cash.
In many cases, you may be better off starting out with a low interest rate credit card. If you are lucky, you may even find one of these cards with a 0% intro APR offer.
You probably haven't heard of the BBVA Compass Visa Signature card. But it's worth a look.
This card has an 0% intro APR offer of 6 months on purchases. It also offers 0% to 3.99% intro APR financing on balance transfers for 12 months.
On top of that, BBVA Compass Visa Signature comes with a regular APR as low as 9.49% for those who qualify.
This is one of the lowest interest rates available and beats many major competing cards if you have excellent credit.
There's no penalty APR, either, if you ever miss a payment.
Along with a competitive low regular APR, the BBVA Compass Visa Signature has a rewards program. You can earn 1 CompassPoint per $1 spent. Your points can be redeemed for hotel stays, gift cards, airfare, and more.
If you have bad credit, it can seem nearly impossible to find a credit card with a low interest rate.
Navy Federal Credit Union members do have a great option available: the Navy Federal nRewards Secured card.
This card offers an APR as low as 8.99% along with 1% back on all purchases.
The card does require a fairly high refundable security deposit of $500 in your Navy Federal Savings account to qualify.
On the other hand, this card has no annual fee.
Credit Shout is a community of personal finance experts dedicated to helping you save money and make smart financial decisions. Learn how to master your credit card rewards, improve your credit score and start eliminating your debt.