If you are carrying some money off your credit card or you have a high debt to pay then you know the pain of paying as much as 22% interest on your credit value. Almost all Credit Card offers high interest rate now-a-days. But still there are some which offers interest-rate as low as 8%.
Finding a good credit card is a burdensome work. Comparing the credit cards that offers low interest rate then sorting them out on the basis of the annual fees they charge is a tiring process. But do not worry, we have done that for you. We have sorted out 5 credit cards that are best in the market. Take a look and choose the one which suits you the best.
MBNA True Line Gold MasterCard
The interest rate on this card is 8.99%. It has an annual fee of $39. It has an introductory offer of 0% interest rate which is applicable for first six months. After six months, the interest rate will be 8.99%. The Cash Advance rate is 24.99% for this card. The best service provided by this card is its 24*7 fraud-protection and customer service.
American Express Essential Credit Card
Interest rate for this card is 8.99%. The annual fee is $65. This card offers purchase protection and also covers Air Travel accident insurance. It also gives rewards for every $10 spent on this card. The Cash Advance rate is 22.99% which can be increased if you don’t pay your monthly payments on time. Its 24*7 customer service is present to help you in any case.
Scotiabank Value VISA
The interest rate offered on this card is slightly higher. Although the interest rate is $12.99, it has additional benefits which can fulfill your needs. It is giving an introductory offer in which for the first six months, the balance transfer rate will be $0.99 and later it will be $12.99. The annual fee for this card is $29.
MBNA Trueline Mastercard
Although the interest rate on this card is $12.99 but it has zero annual fees. The interest rate is $12.99 on balance transfer and $24.99 on Cash Advance. It has over 1 million ATMs globally for you to access if you need cash. Its introductory offer will give you zero percent interest rate on balance transfer for the first 10 months. It has 24*7 customer service to handle all your queries.
BMO Preferred Rate Mastercard
The interest rate is $12.99 on this card. The balance transfer rate and Cash Advance rate is same as interest rate. It will also cost you $20 more for its annual fee. By using this credit card, you can get two type of purchase insurance. The introductory rate offered by this card is $3.99 for the first nine months.
Conclusion
These are all the cards which has the lowest interest rate. This list is made by considering all the factors in mind like the annual fees, balance transfer, cash advance rate and the introductory offer they are giving. However, the interest rate and offers are subjected to change as per the bank, If you have a large debt onto your head, this list will minimize your efforts in clearing it.