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Best Low Interest Credit Cards for Good Credit

Credit Cards, Low Interest and No Fee Credit Cards
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Best low interest credit cards for good credit

Carrying credit card debt is never a good idea, but it’s a much more expensive mistake if your credit card has a sky-high interest rate. If you have good credit, you can enjoy low interest on your credit cards, just in case you carry a small balance from one month to the next. Here are three of our favorite low interest cards for good credit — plus, they all have rewards.

Chase Freedom®: Best for cash bonuses

The Chase Freedom® has 5% bonus rewards on rotating quarterly categories and 1% cash back on everything else. Here are the current bonus categories. You earn 5% cash back on up to $1,500 in spending per quarter (and 1% after that):

Chase Freedom® bonus rewards categories for 2017 and early 2018
Q1 2017 (Jan. 1 - March 31)Gas stations and local commuter transportation (not including parking, tolls or Amtrak)
Q2 2017 (April 1 - June 30)Grocery stores and drugstores
Q3 2017 (July 1 – Sept. 30)Restaurants and movie theaters
Q4 2017 (Oct. 1 – Dec. 31)Walmart and department stores
Q1 2018 (Jan. 1 - March 31)• Gas stations
• Internet, cable and phone service
• Purchases via Chase Pay, Apple Pay, Android Pay and Samsung Pay

There’s also a killer sign-up bonus: Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Plus, if you add an authorized user and make a purchase within the first three months, you’ll receive an additional $25 cash bonus. While the rewards are cash back, you can also transfer them to your Chase Sapphire Preferred® Card to use at a rate of 1.25 cents per point for travel on the Chase Ultimate Rewards site.

The Chase Freedom® has an annual fee of $0 and foreign transaction fees of 3%. It offers an introductory APR of 0% on Purchases and Balance Transfers for 15 months, and then the ongoing APR of 16.24% - 24.99% Variable APR. The balance transfer fee is 5% or $5, whichever is greater.

Discover it® - Cashback Match™: Best for online shopping

Like the Chase Freedom®, the Discover it® - Cashback Match™ has rotating bonus categories with 5% rewards and 1% cash back on everything else. Bonus rewards are capped at $1,500 in spending per quarter. Here are the current categories:

Discover bonus categories for late 2017 and 2018
Q4 2017 (Oct. 1 – Dec. 31)Amazon.com and Target
Q1 2018 (Jan. 1 – March 31)Gas stations and wholesale clubs
Q2 2018 (April 1 – June 30)Grocery stores
Q3 2018 (July 1 – Sept. 30)Restaurants
Q4 2018 (Oct. 1 – Dec. 31)Amazon.com and wholesale clubs

Rewards are redeemable for statement credit, direct deposit and credit cards. They can also be used to pay for Amazon purchases through the Shop with Points program.

Shopping with your Discover it® - Cashback Match™ card online can get you deep discounts. Use the Discover Deals bonus mall to get discounts of 5-20% when you shop online or download the mobile app to get discounts in-store.

The Discover it® - Cashback Match™ comes with an introductory APR, too: 0% on Purchases and Balance Transfers for 14 months, and then the ongoing APR of 12.24% - 24.24% Variable APR. It has an annual fee of $0, no foreign transaction fees, no over-the-limit fees and no penalty rates. Cardmembers will also have their first late payment fee waived and have access to their free FICO score on their monthly statements, online and on the mobile app.

Bank of America® Cash Rewards credit card: Best for gas and grocery store purchases

The Bank of America® Cash Rewards credit card offers 3% cash back on gas and 2% back at grocery stores and warehouse clubs on up to $2,500 in combined spending per quarter, and 1% back on everything else. There’s also a customer bonus of 10% every time you redeem rewards into your Bank of America® checking or savings account — or 25%, 50% or 75% if you’re a Preferred Rewards client, which means you meet certain minimum balance requirements in your Bank of America® accounts. There is also a sign-up bonus: $150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening..

The Bank of America® Cash Rewards credit card offers a 0% on Purchases for 12 billing cycles and 0% on Balance Transfers for 12 billing cycles for balance transfers made in the first 60 days, and then the ongoing APR of 14.24% - 24.24% Variable APR. And the annual fee? $0. If you want to use the card for balance transfers, you’ll pay 3% of each transaction (minimum of $10) for the privilege.

Updated Aug. 2, 2017. 

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