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Find the best low interest credit card offers available
Current credit card interest rates| 3-month trends | Variable |
|---|
| 10/21/2020 | 16.02% |
| 10/14/2020 | 16.02% |
| 10/7/2020 | 16.02% |
| 9/30/2020 | 16.02% |
| 9/23/2020 | 16.02% |
| 9/16/2020 | 16.02% |
| 9/9/2020 | 15.99% |
| 9/2/2020 | 15.99% |
| 8/26/2020 | 16.03% |
| 8/19/2020 | 16.03% |
| 8/12/2020 | 16.04% |
| 8/5/2020 | 16.04% |
| 7/29/2020 | 16.04% |
| 7/22/2020 | 16.04% |
| 7/15/2020 | 16.04% |
| 7/08/2020 | 16.00% |
6/3/2020 | 16.05% |
What are the different types of credit card interest rates?
- Purchase APR: The interest rate on purchases, typically applied when your credit card balance isn't paid in full each billing period.
- Balance Transfer APR: The interest rate you owe on balances transferred from loans or other credit cards to the applicable credit card. For most cards, you begin with a low rate (even 0%) for a specified number of months before transitioning to the regular APR.
- Introductory APR: This is an incentive offered by credit card companies to new applicants to give an especially low rate for a certain time period once an account has been opened. This rate (often 0%) is consistently lower than the typical APR for each card. On average, credit cards with a 0% introductory APR on purchases offer around 10 months without interest, while balance transfer cards with introductory APR's usually last a full year.
- Cash Advance APR: This rate is applied when withdrawing money from an ATM or bank using your credit card.
- Penalty APR: If you miss a due date, this rate could be applied. This rate is more extreme than typical APRs (can be as high as 29.99%) and will be lowered to the standard interest rate after six months of timely payments.
We have multiple resources to help you gain a better understanding of credit card interest rates. If you are interested in learning more, we recommend reading the following:
Other credit card options: 0% interest credit cards, balance transfer credit cards
To view more research from the Bankrate team, visit our credit card statistics center.