Aw nerds! It looks like this page may be out of date. Please visit NerdWallet’s Best Credit Cards page for updated info.
The Capital One Platinum Prestige, for people with excellent credit, is among the better low interest rate credit cards. It has just extended its 0% introductory APR period from 12 months to 15. This applies to both balance transfers and purchases.
It’s by far the best Capital One low APR credit card – the others are all Citibank. The only CapOne that comes close is the Capital One Venture One, which gives no interest on purchases or balance transfers for a year. There are several competitors with 0% for 12 months, but few have intro periods as long as 15 months. As a result, over a 2 year period, no other Capital One credit card tops this offer in terms of your effective annual rate. We take into account fees, introductory periods, and ongoing rates when we calculate the year effective annual rate for you on our low interest credit cards page. Simply adjust your credit level and the number of years you will hold the card, and you’ll see that if you choose “Excellent Credit” and “2 years”, Capital One Platinum Prestige ranks near the very top of a sorted list of 920 credit cards.
The other heavy-hitting low APR cards are from Citibank: the Citi Platinum Select, the Citi Diamond Preferred, and the Citi Simplicity. All give no interest for a whopping 21 months. However, none compare to the Capital One Platinum Prestige when it comes to a low ongoing interest rate and a 0% introductory APR offer.
When you’re looking for a balance transfer credit card, not just one with a low APR, keep in mind the balance transfer fees.These seemingly small charges are a big deal. The industry standard is 5% of the transfer, so if you shift $10,000 of credit card debt onto a new card, you’ll end up paying a $500 fee. Citibank charges 3%, while some credit unions will waive the fee altogether.
Interested in applying? Here’s a recap of the best low interest credit cards out there.