What are the lowest rate credit cards?

credit cards with the lowest ratesIt is the goal for most people looking for a new credit card to find the card with the lowest interest rate possible. The majority of credit cards offered by banks today have a range of interest possibilities with the cardholder’s final rate being decided by their personal credit score.

Most of the big name cards on the market now have special no interest introductory periods. Some of the more popular credit cards with long no interest periods and lower interest ranges include the Capital One Platinum Prestige credit card, the Platinum Select Visa from Citi Bank, and the More credit card offered by Discover.

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Since these credit cards come with long credit card introductory APR periods, they are excellent choices for someone that wants to make a credit card balance transfer from another card. Usually a cardholder chooses to make a balance transfer when they have another credit card with a high balance that also has a high interest rate. The cardholder can transfer that balance to their new card and save a lot of money each month by not having to pay interest on the balance. The cardholder should just be vigilant about when the no interest period expires and try to pay the balance in full before it ends. You can find more information on how to handle credit cards from resources offered by Suze Orman and SmartMoney.

What are the rates for the Platinum Select Visa from Citi Bank?

This popular credit card offered by Citi Bank has a 21-month no interest introductory period for purchases and balance transfers. So for almost two years, the cardholder does not have to worry about paying interest payments no matter how high their balance is. After this introductory period expires, the cardholder’s own credit score will determine if they have an annual percentage rate of 11.99%, 16.99%, or 21.99%. The better the cardholder’s credit score the lower their interest rate will be.

lowest rate credit cardsThis no interest period does not apply to cash advances. So if the cardholder decides to write a credit card check they will be charged 25.24% interest each month on that cash advance amount until the balance is paid off. If the cardholder does decide to make a balance transfer, they must remember not to use a credit card check to pay off the other card, which is how many people handle a balance transfer. If they did use a check, they would not be able to take advantage of the no interest for balance transfers offer. The cardholder would have to perform the balance transfer over the phone or online.

If a credit card payment is late,  or a cardholder has any payment returned, their no interest period will be forfeited and their interest rate will increase to 29.99% permanently. This card has no annual fee.

What are the rates for the Capital One Platinum Prestige credit card?

Capital One is one of the most recognizable and trusted names in credit cards. Since this credit card provider is so successful, they typically have credit cards with excellent rates. This card currently offers their no interest on purchases and balance transfers introductory period until March of 2013. After the introductory period is over, the cardholder will have an annual percentage rate of 10.9%, 14.9%, or 18.9%, which is still very low. The rate of interest for cash advances is 24.9% and the penalty rate of 29.4% will be applied permanently if the cardholder has a monthly payment that is more than 60 days late.

There is no annual fee for this card, but there is a 3% balance transfer fee even during the no interest period. There is also a 3% fee for cash advances with a minimum fee amount of $10.

What are the rates for the More credit card offered by Discover?

Discover is a very popular credit card provider and these cardholder are usually very happy with their card’s rates and the service they receive from the company. The More credit card offers a no interest introductory period of 15 months for balance transfers and purchases. After the 15 months is over, the cardholder’s annual percentage rate will range from 10.99 to 20.9%. The rate for cash advances is a steady 23.9%.

This card has no credit card annual fee. There is a 3% transaction fee for balance transfers even during those first 15 months.

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