Credit cards offer purchase protection on large purchases and finding a credit card with a low interest rate is a necessity if you choose to finance a purchase with a credit card.  Some cards can draw consumers with high rewards or amenities but a low-interest credit card saves you the most money in the long-run.

Sadly, the days of sub 5.00% APR’s are gone but if you look hard enough, you can still find good low interest rate credit cards. We’ve compiled a list of the best low interest rate credit cards below and if you own a card you feel deserves on the list, let us know and we’ll add it.Best Low Interest Credit Cards
Citi® Platinum Select® MasterCard® – When looking for a low interest credit card, you want one with other features catered to rolling a balance over and the Citi® Platinum Select® MasterCard® is the best card of it’s kind.  The interest rate is a modest 11.99% – 20.99% variable (depending on your credit) and cardholders will receive an 18 month 0% intro APR balance transfer offer, meaning if you have a balance on another credit card, you can transfer it to your Citi® Platinum Select® MasterCard® and make interest free payments for 18 months.  There is a 4% balance transfer fee (no max) when making the transfer AND this card also includes a 0% intro APR on purchases for a full 12 months.  After that, the APR will be 11.99%-20.99% based upon your creditworthiness. There is no annual fee.

PenFed Promise Visa Card – One of the few cards on the market today that offers a single digit APR, the PenFed Promise Visa Card provides cardholders an initial APR of 7.49% for the first 36 months. After that, the APR will vary with the Prime Rate, and is currently 9.99% APR. No Foreign Transaction Fees! This particular credit card does not come with any bells and whistles as it does not have a rewards program and also does not carry an annual fee.  Because it is from the Pentagon Federal Credit Union, the PenFed Promise Visa Card requires an affiliation to the US Military (through family or directly) or the American Red Cross to be approved.  If neither apply, you can make a one time $20 donation to become a member.

Chase Freedom® Visa – $100 Bonus Cash Back – The Chase Freedom® Visa – $100 Bonus Cash Back is on our list primarily because of the $100 statement credit you’ll receive after making $500 in purchases during the first three months of card ownership. The card’s APR is 11.99% – 22.99% variable* and with the Chase Freedom® Visa – $100 Bonus Cash Back, cardholders will earn 1% cash back on all purchases and 5% cash back on rotating categories throughout the year.  There is no annual fee to own the Chase Freedom® Visa – $100 Bonus Cash Back and it includes a 0% intro APR on balance transfers for 12 months and on purchases for six months.

Discover® More Card – $100 Cashback Bonus – If cash back bonuses are your thing, then you won’t find one better than the Discover More Card – $100 Cashback Bonus.  To earn the bonus, $500 needs to be spent during the first three months.  The variable APR falls between 11.99% and 22.99%, depending on the credit history of the applicant and the Discover More Card – $100 Cashback Bonus includes 0.25% cash back on all purchases for the first $3,000 spent.  1% cash back is earned on all purchases after that and 5% cash back is offered on rotating categories throughout the year.  This card includes a 0% intro APR offer on purchases for 12 months and balance transfers for six months and it comes without an annual fee.

Chase Sapphire(SM) – The Chase Sapphire(SM) sports a low 12.24% variable* APR while offering consumers one of the best rewards programs around.  First, cardmembers can earn 10,000 bonus points after making $500 in purchases during the first three months (which is worth $110 in airfare or $100 in cash) and everyone will receive a phone number that is always answered by live representatives.  No more pressing tons of buttons to reach real people!  Finally, you won’t find an annual fee on the Chase Sapphire(SM), making it free to own.

Simmons First Visa® Platinum – If you thought the PenFed Promise Visa Card was boring, then allow me to introduce you to the Simmons First Visa® Platinum.  This card offers cardholders a very very low 7.25% APR.  The Simmons First Visa® Platinum does not have a rewards program or introductory offer so it’s best and only feature is the low APR.  Last but not least, this card carries no annual fee.

Citi® Dividend Platinum Select® MasterCard® – With the Citi® Dividend Platinum Select® MasterCard®, you’ll find a 12.99% – 20.99% variable APR, depending on the applicants credit history.  A 0% intro APR on balance transfers for 15 is included with this card and it also comes with a great rewards program.  5% cash back is earned on rotating categories throughout the year and 1% cash back is earned on all other purchases.  As a bonus, 2% cash back is earned on all purchases during the first three months and the Citi® Dividend Platinum Select® MasterCard® does not have an annual fee.

Capital® One VentureOne(SM) Rewards Credit Card -The only Capital One card to make our list, the Capital One® VentureOne(SM) Rewards Credit Card offers cardholders a 13.9% APR.  The rewards program is quite simple, as 1.25 miles are earned on each dollar spent and because this is a Capital One credit card, the Capital One® VentureOne(SM) Rewards Credit Card is foreign transaction fee free.  There is a 0% intro APR on purchases until August of 2011 included in this offer and the Capital One® VentureOne(SM) Rewards Credit Card has no annual fee.