Low introductory rate credit cards
By updated on May 26, 2012

If you are planning a major purchase in the next few months and want an easy way to spread the payments out, you may want to consider applying for a zero APR or low introductory rate credit card.  Financing new purchases with a low intro rate credit card can result in big savings.  The introductory period on these credit cards typically ranges from 6 months to 18 months or more.  You'll need an excellent to good credit score to qualify for most low introductory rate offers.

What are low introductory rate credit cards?

Credit card companies know that savvy consumers are looking for the best rates on credit cards, so sometimes they offer a low interest rate for a limited time period to attract new cardholders. After the initial period, the interest rate will usually rise to a standard interest rate. Often, there are different interest rates charged for balance transfers versus new purchases, so make sure you truly understand the interest rate structure, fees and minimum finance charge to decide whether one of these credit cards works for you.

How do you qualify for a low APR credit card? Credit card companies assign you an interest rate according to the perceived risk that you will default, or fall behind on repaying your credit card debt. If you have poor credit or a history of problems with credit card debt, you may not qualify for a low intro rate credit card. Find out your credit score before you apply and see if you need to improve your credit before you can qualify for zero APR credit cards. Most cards that come with zero or low intro APR require excellent credit.

What should I look for in a low introductory rate credit card offer?

Before you can choose the best credit card for your needs, you must identify your goals. If you have credit card debt to pay with a balance transfer, you should compare the following features:

  1. Initial interest rate
  2. Length of introductory term
  3. Interest rate after the introductory term ends
  4. Balance transfer fee
  5. Annual fee, and whether it is waived the first year

The best low rate credit cards have the longest introductory period with the lowest interest rate and the lowest (or no) annual fee. After checking these elements, be sure to check the minimum finance charge so you can estimate your monthly payments. There are plenty of credit card offers on this page to choose among.

How can I compare the best low rate cards for a balance transfer?

You can use a credit card payoff calculator to estimate the size of your payments and how long it will take you to reduce your balance to zero at various interest rates and payment plans. While it may seem to make sense to jump at a zero percent interest rate, you may be better off with a slightly higher interest rate for a longer period if you won't be able to pay your balance in full before the introductory period ends.

For instance, if you want to pay off a $1,500 credit card bill and find a card with zero percent interest for six months, you would need to make a payment of $250 per month to pay it off in time. If you are charged a balance transfer fee of 5 percent, that adds another $75 to the balance. You may want to look into a card with a low interest rate of 3 percent or 4 percent for 12 months to give yourself more time to completely pay off your credit card debt.

Are there any drawbacks to a low introductory rate credit card?

There are two main pitfalls with a low introductory rate credit card. The first comes along with the word "introductory". This means that the low interest rate that is enticing you to apply for the card is temporary. Make sure you read the fine print and know when the interest rate will rise and how much it will go up before you sign on for a new card. That's why it is so important to compare credit card offers.

The second pitfall is that these cards are generally only available for consumers with good or excellent credit. Before you apply, check out your credit report and see if you need to improve your credit first.

Discover® More® Card

Editor's Rating


  • 0% intro APR on purchases and balance transfers for 15 months, then the variable purchase APR of 10.99% - 20.99%*
  • 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply*
  • Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
  • Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
  • 24/7 access to a U.S.-based Account Manager within 60 seconds
  • $0 Fraud Liability plus mobile and email fraud alert options
  • Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
  • *Click apply to view rates, fees, rewards, limitations and other important information

Blue® From American Express - Earn 10,000 Points When You Spend $100 in the First 3 Months

Editor's Rating


  • Earn 10,000 extra points when you spend $1,000 within the first 3 months
  • 0% intro APR for 12 months
  • Flexibility to pay charges over time
  • Earn up to 10X points every day when you shop over 300 brands online at membershiprewards.com/earn
  • Earn 1 point for every eligible dollar spent
  • 2X points when booking online travel through American Express
  • Rewards start at just 1,000 points

Discover® More Card - 18 Month Promotional Balance Transfer

Editor's Rating


  • 0% intro APR on purchases for 6 months, then the variable standard purchase APR of 10.99% - 20.99%*
  • 0% intro APR on balance transfers for 18 months, then the variable standard purchase APR of 10.99% - 20.99%*
  • 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply*
  • Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
  • 24/7 access to a U.S. based Account Manager within 60 seconds
  • $0 Fraud Liability plus automatic mobile and email fraud alerts
  • Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
  • *Click apply to view rates, fees, rewards, limitations and other important information

Slate® from Chase - No Balance Transfer Fee

Editor's Rating


  • No Balance Transfer Fee!*
  • 0% Intro APR for 15 months on purchases and balance transfers
  • Transfer your higher rate balances during the first 30 days your account is open and you will pay no balance transfer fee!
  • After the first 30 days, the fee for future balance transfers is 3% of the amount transferred with a minimum of $5
  • Avoid interest on everyday purchases
  • Pay down your balance faster
  • Zero liability on unauthorized purchases*
  • No Annual Fee*

Discover® MotivaSM Card

Editor's Rating


  • Earn Cashback Bonus for your good credit management
  • 0% intro APR on purchases and balance transfers for 15 months, then the variable purchase APR of 10.99% - 20.99%*
  • Up to 20% Cashback Bonus at popular online retailers when you shop through Discover.com
  • Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
  • 24/7 access to a U.S. based Account Manager within 60 seconds
  • $0 Fraud Liability plus mobile and email fraud alert options
  • Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
  • *Click apply to view rates, fees, rewards, limitations and other important information

Discover® Open Road Card

Editor's Rating


  • 0% intro APR on purchases and balance transfers for 15 months, then the variable standard purchase APR of 10.99% - 19.99%*
  • 2% automatically at gas stations and restaurants all year long*
  • Plus, up to 20% Cashback Bonus at popular online retailers when you shop through Discover.com
  • Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
  • 24/7 access to a U.S.-based Account Manager within 60 seconds
  • Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
  • *Click apply to view rates, fees, rewards, limitations and other important information

Blue Cash PreferredSM Card From American Express - $150 Welcome Bonus

Editor's Rating


  • Earn $150 cash back after spending $1,000 in eligible purchases in the first 3 months of Cardmembership
  • 0% intro APR on purchases for 12 months, flexibility to pay over time
  • Get 6% cash back at supermarkets, 3% cash back at gas stations and department stores, and 1% cash back on all other purchases
  • NO spend minimum, NO enrollment, and NO rotating rewards categories
  • Get a $75 Referral Bonus for each friend or family member who is approved for the Card
  • The annual fee pays for itself. With 6% cash back at supermarkets, if you spend just $25 weekly at your supermarket, you can receive over $75 cash back from these purchases alone.

Chase Freedom® Visa

Editor's Rating


  • Earn $100 Bonus Cash Back after you make $500 in purchases in your first 3 months
  • 0% Intro APR for 15 months on purchases and balance transfers
  • 5% Cash Back on up to $1,500 spent at grocery stores and movie theaters from 4/1/12 - 6/30/12
  • You'll enjoy new 5% categories every 3 months like gas stations, restaurants and even airlines. It's free and easy to activate your bonus each quarter!
  • Unlimited 1% Cash Back on all other purchases
  • Up to an additional 10% Cash Back when you shop online at select merchants through Chase
  • No annual fee and rewards never expire

The Blue for Business® Credit Card from American Express OPEN

Editor's Rating


  • Earn a Welcome Bonus of 10,000 bonus points after your first purchase
  • Earn 10% more points the first year, Earn 20% more points the second year, Earn 30% more points every year after
  • Get an introductory APR of 0% for up to 12 months
  • No annual fee and no fee for Additional Cards for Employees
  • Save 3% - 10% automatically on business expenses from FedEx, Hertz®, and more with OPEN Savings® discounts
  • Enjoy the option to pay over time

Blue Cash EverydaySM Card From American Express - Earn Cash Back Right Away - with No Annual Fee

Editor's Rating


  • Earn $100 cash back after spending $1,000 in eligible purchases in the first 3 months of Cardmembership
  • 0% intro APR on purchases for 12 months, flexibility to pay over time
  • Get 3% cash back at supermarkets, 2% cash back at gas stations and department stores, and 1% cash back on all other purchases
  • NO spend minimum, NO enrollment, and NO rotating rewards categories
  • Get a $25 Referral Bonus for each friend or family member who is approved for the Card
  • No annual fee, flexibility to pay over time

Miles by Discover® Card

Editor's Rating


  • Earn 10,000 Bonus Miles with every $2,000 in purchases within the first 6 months - up to 20,000 Bonus Miles
  • 1 Mile on every $1 you spend - Plus flexible redemption options like travel credits, merchandise, gift cards or cash
  • 0% intro APR on balance transfers for 12 months, then the variable purchase APR of 10.99% - 15.99%*
  • No restrictions on travel--fly on any airline, book any hotel or car, with no blackout dates
  • Travel benefits include secondary collision damage insurance when you rent a car with your Miles by Discover card
  • Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
  • Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
  • *Click apply to view rates, fees, rewards, limitations and other important information

Escape by Discover® Card

Editor's Rating


  • Earn up to $250 in travel rewards--1,000 Bonus miles every month you make a purchase for the first 25 months
  • Double Miles on every $1 you spend
  • 0% intro APR on purchases and balance transfers for 6 months then the variable purchase APR of 10.99% - 16.99%*
  • No restrictions on travel--fly on any airline, book any hotel or car, with no blackout dates
  • Flexible redemption options like travel credits, merchandise, gift cards or cash
  • Travel Insurance benefits, including primary car rental, lost or damaged luggage, travel delay, and trip cancellation when you book with your Escape by Discover card
  • Discover is ranked #1 in customer loyalty--16 years in a row (2012 Brand Keys Customer Loyalty Engagement Index report)
  • *Click apply to view rates, fees, rewards, limitations and other important information

These quotes are from credit card issuers which have paid for a link to their website. Offers are subject to change without notice and may not be the same for all consumers.
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