Where Can I Find Credit Cards With Low Rates?

Locate Cards

It's relatively easy to find credit cards in general. Visit the website of almost any bank that offers them, or run a search on terms like "Visa credit card" or "Master Charge credit car" and you'll be faced with a multitude of options.

Searching for an even more general term like "best credit card rate" will return plenty of options, including CreditCards.com. While the credit cards this site mentions might very well be your best choices for low interest rates, you shouldn't blindly choose one. The site's search tool is handy for narrowing down your options. You need to then take that list and do your homework.

Another great source of information is the consumer watchdog website ConsumerReports.org (CR). This nonbiased organization releases an annual review of what it considers to be the best credit cards, based on several criteria, one of which is low interest rates.

Do Your Homework

Ultimately, wherever you go to find a list of low-interest-rate credit cards, the success or failure of your endeavor will depend solely upon how well you do your research. You have to read the fine print in each card's offer. Realize the great low introductory rate ends at some point---it might be the end of the current month or in six months, but at some point in the near future, your interest rate is going to go from 0 percent, say, to another, likely much-larger number.

Let's say you ran a search for "low-interest credit cards" at CreditCards.com. The resulting list of cards is just your starting point. Compare the great low introductory rate of one card to the more-stable long-term rate on another. Check out what kind of credit score you need to qualify for this rate. There also might be an annual fee so high that it negates any attractive rates.

Final Thoughts

Ultimately, the process of finding credit cards is simple. To achieve the lowest rate possible depends largely upon your research and willingness to read mind-numbing contract details. In this case, the devil really is in the details. Consumer Reports listed the following three credit cards as the best choices for low interest rates for 2009:

1. Capital One Platinum Prestige
2. Clear from American Express
3. Iberiabank Visa Classic

Source:

ConsumerReports.org: credit card rates

CreditCards.com: low interest credit cards