Low interest credit cards with low ongoing APR are particularly suited for people who carry a balance from month to month. These cards from different banks and issuers offer some of the lowest ongoing interest rates for purchases and balance transfers and can feature either a low fixed rate APR or a low introductory APR.
The single most important feature of a credit card is its annual APR, since it will be a strong determinant in how much interest will accrue on a balance. Low interest cards and 0% APR card are ideal for those who carry a balance, minimizing the interest cost over the period of the loan.
Besides long-term low rates, many low interest cards also offer a special introductory rate, usually in the range of 0% to 3.99%. This introductory rate may apply to balance transfers in addition to purchases. When the introductory period expires (typically within 6 to 12 monthes), the APR will return to regular rate.
An important feature to consider is whether the APR is fixed or variable. A fixed APR will generally remain the same throughout the duration of the loan; your credit card company will notify you in advance if the rates change. On the other hand, a variable rate APR is tied to the national prime rate, and will fluctuate.