There are several different types of credit card APRs — and, as such, there are a few different types of low-interest credit cards. Each one serves a slightly different purpose. Depending on the type of cardholder you are, there may be a clear-cut best choice.
Low-interest credit cards generally focus on providing a lower ongoing APR, so if you’re known to carry a balance on occasion, this type of credit card might be the best option for you.
Zero-interest credit cards don’t tack on interest charges for a set introductory period. They’re a good option if you’re looking to make a large purchase that you’ll need more than one billing cycle to cover in full.
Balance transfer credit cards are designed to help move credit card debt. Used correctly, they could help you pay down existing balances more quickly and save you hundreds of dollars in interest. Learn more about the best balance transfer credit cards.
The best credit card for you will vary, depending on your financial goals. Be sure to evaluate all card offers holistically before applying. Other important factors to consider include fees, penalty APRs, rewards and ancillary services.