Low Interest Credit Cards For People With Good Credit (2024)

FAQs

What credit card has the cheapest interest rate? ›

A credit score of about 700+ will likely qualify you for just about any credit card, including those with cash back rewards, lower annual percentage rates (APRs) and more.

A good credit card APR is a rate that's at or below the national average, which currently sits above 20 percent. While there are credit cards with APRs below 10 percent, they are most often found at credit unions or small local banks. If you don't have good credit, you're likely to receive a higher credit card APR.

It's common for credit cards to offer an introductory period of 0% annual percentage rate for new cardholders, often 12 to 21 months. But you don't always have to apply for a new credit card to get a 0% APR offer, especially if you're interested in a balance transfer.

Among the best choices, HDFC Regalia offers a competitive interest rate as low as 1.99% per month, plus benefits like reward points, lounge access, and concierge services. YES Bank Reserv, HDFC Infinia, and SimplySAVE Advantage SBI Card also have attractive features, so consider them based on your spending habits.

What is the 5/24 rule? Many card issuers have criteria for who can qualify for new accounts, but Chase is perhaps the most strict. Chase's 5/24 rule means that you can't be approved for most Chase cards if you've opened five or more personal credit cards (from any card issuer) within the past 24 months.

0% APR cards require good to excellent credit

This means you'll need a FICO credit score of at least 670 or a VantageScore credit score of at least 661. If you have very good or excellent credit, which means a FICO score of at least 740 or a VantageScore of at least 781, your chances of approval are even higher.

A credit score of 900 is not possible, but older scoring models that are no longer used once went up to 900 or higher. The highest possible credit score you can get now is 850.

Factors that increase your APR may include federal rate increases or a drop in your credit score. By identifying changes to your APR and understanding the actions that led to your increased rate, you can take steps that may help reduce your interest charges in the future.

How much will it cost in fees to transfer a $1000 balance to this card? ›

It costs $30 to $50 in fees to transfer a $1,000 balance to a credit card, in most cases, as balance transfer fees on credit cards usually equal 3% to 5% of the amount transferred. Some credit cards even have no balance transfer fee, but it's rare for cards that do this to also have a 0% introductory APR on transfers.

Credit bureaus suggest that five or more accounts — which can be a mix of cards and loans — is a reasonable number to build toward over time. Having very few accounts can make it hard for scoring models to render a score for you.

First, if you carry a balance, you'll pay interest on that amount, which can quickly get expensive. Credit card lenders generally charge an annual percentage rate (APR) ranging from 16% to 25% on purchases made with the card.

Contact your credit card issuer using the number on the back of your credit card and explain why you would like an interest rate reduction. Start by highlighting your history with the company and mention your good credit and history of on-time payments.

To qualify for a 0% offer, you'll typically need good credit or better (generally defined as a score of at least 690). Zero-percent offers are pretty common on cash-back credit cards as well as on cards specifically marketed as balance-transfer or low-interest options.

A 0% credit card is a credit card with a 0% introductory/promotional interest rate available for a set duration. This means you can spread costs by paying off less than the full amount each month and still pay no interest. Once the offer ends, the standard rates will apply to the remaining balance of your card.

0.99% Interest rate for first 90 days

It is a primary entry-level credit card from HDFC Bank that is primarily aimed at first-time cardholders.