Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
  • Credit Card With Low Interest Rates

    In today’s world, having a credit card is a huge necessity. It helps an individual get his/her hands on essential items without needing to pay for it then and there itself. Though there are many benefits that come with having a credit card, one needs to consider the monthly interest rates. This is because having a credit card with low interest rate can be beneficial for those looking to buy some expensive items through the use of credit cards.

    Usually, interest rates in the range of 1.5% to 2.99% per month are considered as low when it comes to credit cards. Here, we take a look at the pros and cons of having a credit card with low interest rates, who should get a low interest credit card, etc.

    Advantages Of Credit Cards With Low Interest Rates

    There is no denying the fact that having a credit card with low interest rates in quite beneficial. Let’s take a look at some of the benefits:

    • Savings on annual fee - Generally, these cards carry a lower annual fee than most of the other credit cards. The credit card company may also waive the annual fee if a certain amount is spent on the card every year.
    • Savings on interest - Since the credit card carries a low interest rate, if the cardholder chooses to use the rollover credit facility, then the interest incurred on the bill will be much lesser. In case the individual is unable to pay the entire credit card bill in one month, the interest charged on the balance will not be exorbitant.
    • Come with lower annual percentage rate: Low Interest credit cards come with lower annual percentage rate. This enables those having credit cards with low interest to continue availing lower interest rates even after the introductory period.
    • Helpful in paying current credit card debt: With the help of low interest credit cards one can pay off the accumulated credit card debt. This can be done by individuals without needing to pay any extra interest.

    Disadvantages of Low Interest Credit Cards

    Though there are advantages that can be availed when it comes with having a low interest credit card, it is not free of disadvantages.

    Here Are Some Of The Disadvantages That Are Associated With It:

    • Not many perks available: Other than getting low interest rates, an individual is not eligible for many perks. Unlike other credit cards, low interest credit cards may not offer individuals extensive rewards, cash back, air miles, offers and discounts.
    • Offered to high-networth individuals - Lower interest rates are offered to HNIs to attract them. Banks provide such perks to these individuals to ensure their business comes to them.
    • Offered to those who have high credit scores - Moreover, the cards are designed for only those individuals with good credit profiles. If you are an individual who has a clean credit record, has made timely payments on bills and EMIs, and has a good spending pattern, you might be eligible for lower interest rates on your credit card.
    • Balance transfers incur a fee: Though low interest cards offer an individual to pay off current debts, one needs to be careful while doing a balance transfer. This is because credit cards having low interest rates charge a fee on all balance transfers. Hence, one needs to be aware while transferring other credit card debt to the low interest credit card.
    • Cash advances come at high interest rates: Low interest credit cards come with high interest rates when it comes to cash advances. Hence, it is not quite recommended to go for cash advances on the basis of low interest credit cards.

    Who Can Apply For A Low Interest Credit Card?

    Banks are willing to take the risk of non-repayment on credit cards when it comes to HNIs and those with good credit scores. In most cases, banks offer these cards to high-networth individuals whom they think are eligible for such benefits.

    As already stated, low interest cards are designed for those with strong credit profiles because the risk borne by the banks is much lower. So if you wish to avail low interest rates on your credit card, you need to make sure you check your credit report regularly.

    Ensure you pay your credit card dues and any other loan EMIs on time. Have a balance between secured and unsecured debt to ensure your credit profile is favorable. In time, if you are able to secure a high credit score, you can approach your bank to see if you are eligible for a credit card with lower interest rates.

    Sbi Advantage Gold & More Credit Card

    The Advantage Gold & More Credit Card from SBI comes with a joining fee of Rs.499, regular interest rate of 1.99% and a cash advance fee of 2.5% per month. The card also offers other attractive features such as Cash Point for every Rs.100 spent, up to 2.5% value back with cash points earned from grocery and departmental store shopping and a 50 days credit free period.

    Best Low Interest Credit Cards of 2018

    HDFC Infinia Credit Card

    The Infinia Card from HDFC is a credit card with a regular interest rate and cash advance fee as low as 1.99%. However, the joining fee and renewal is high at 30,000 at 10,000 respectively. The card does not have a pre-set spend limit and also lets you collect 5 Reward Points with every transaction worth Rs.150.

    Citibank Rewards Credit Card

    With absolutely zero joining fee, the Rewards Credit Card from Citibank offers a regular interest rate of 3.15% and a cash advance fee of 2%. It comes with attractive features such as up to 10X Rewards, every time you shop from some popular apparel and department stores.

    First Citizen Citibank Titanium Credit Card

    With zero joining fee as well as renewal fee, Citibank First Citizen Titanium card is available with a regular interest rate of 3% and a cash advance fee of 2%. Credit cardholders can avail reward points, vouchers and other first use benefits at some stores.

    ICICI Bank Instant Platinum Credit Card

    The ICICI Bank Instant Platinum Credit Card is available at a regular interest rate of 2.49% and a cash advance fee of 2.49%. There is no joining fee or renewal fee on this card. Cardholders can avail interest-free credit of up to 48 days on purchases made using the card.

    Kotak Velocity Platinum Credit Card

    The Velocity Platinum Credit Card can be availed at a low interest rate of 3.10% pm. Joining fee of Rs.499 is waived for the cardholders of this card. The renewal fee of this card is Rs.499, while the cash advance fee is 2.5%. Other attractive features include a 2.5% fuel surcharge discount in all petrol pumps in India.

    First Citizen Platinum Credit Card

    The First Citizen Platinum Credit Card from Citibank is available at a regular interest rate as low as 2.5% pm and a cash advance fee of 2%. With this card, you can earn up to 5% on your shopping expenses at Shoppers Stop. Both joining fee as well as renewal fee of this card stands at Rs.1500.

    Jet Airways Citibank Titanium Credit Card

    Citibank offers the Jet Airways Titanium Credit Card with 2.5% regular interest rate per month and 2% cash advance fee. The card comes with a facility to earn double JPMiles on Jet Airways tickets. On this card, you can earn 1000 JPMiles for every first time use of the card each year.

    SBI Advantage Platinum Credit Card

    The Advantage Platinum Credit Card from SBI can be availed at a low interest rate of 1.99% pm and a cash advance fee of 2.5% pm. Although both joining fee and renewal fee is quite high at Rs.2999, you can earn up to 5X Cash Points from your shopping at Departmental Stores, Dining or International spends.

    ICICI Bank Instant Gold Credit Card

    With a regular interest rate as low as 2.49% pm and cash advance fee at the same rate, the Instant Gold Credit Card from ICICI Bank is a great choice if you are looking for credit cards with low interest rates. It does not require any joining fee, neither does it have any renewal fee, making it all the more affordable.

    SBI Advantage Plus Credit Card

    The SBI Advantage Plus Credit Card charges a meagre joining as well as renewal fee of Rs.500. It also comes with the minimum regular interest rate of 1.99% pm and a 2.5% pm cash advance fee. Additional feature includes a credit free period of 50 days.

    TATA Empower Credit Card

    With absolutely zero joining and renewal fee, the TATA Empower Credit Card comes with a low regular interest rate of 3.35% pm and 2.50% pm. Along with the affordable charges on the card, cardholders can avail up to 4% value back at Tata stores and its partner stores and products.

    HDFC Regalia Credit Card

    At a low regular interest rate of 1.99% pm and a 2.5% cash advance fee, this luxury card makes an attractive deal. Offered by HDFC, the Regalia Credit Card requires cardholders to pay a joining fee of Rs.2500 and a renewal fee of the equivalent amount. Additionally, it grants a welcome benefit of 2500 Reward Points.

    HSBC Platinum Credit Card

    The HSBC Platinum Credit Card comes at a regular interest rate of 3.10% and 2.5% cash advance fee, per month. Cardholders can also get 8000 Reward Points as a welcome gift. Apart from these charges, the card incurs a joining fee of Rs.6000 and a renewal fee of Rs.2000. The card’s Reward points can be redeemed for air mileage points.

    HSBC Gold Credit Card

    Cardholders of HSBC Gold Credit Card can enjoy a low monthly interest rate of 3.3% and a cash advance fee of 2.5%. HSBC does not require any joining fee for this card, however renewal fee of Rs.2000 is charged by the bank at the time of card renewal.

    HSBC Classic Credit Card

    With attractive features such as Zero lost credit card liability benefit, the Classic Credit Card from HSBC offers a regular interest rate of 3.5% pm and a cash advance fee of 2.5% pm. The card does not incur any joining fee but a renewal fee of Rs.700 is charged by HSBC upon card renewal.

    However, there are ways to lower the interest rate on your existing credit cards, they are:

    • Always pay your bills on time and if you maintain it for a decent enough time, you can request the bank to further lower your present interest rate.
    • By making your payments in full or excess, you could create a good record with company and avail a low interest rate.

    Before you make a choice, don’t forget to compare, research, analyse and then decide on the best credit card for you.

      

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Credit Card Reviews

    • Bank Bazaar Credit Card
      "USERFRIENDLY PORTAL TO USE"
      0.5 4.0/5 "Great!"
      It is the second time experience with the Bankbazaar.com as i am using it through the website as the portal is convenient and user friendly portal to access. The customer support and responsiveness is good by explaining the details of the card.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2019
    • YES Bank Credit Card
      "Highly disappointed with the credit limit"
      0.5 1.0/5 "Really Bad"
      Yes bank has given the very lesser credit limit of only 33 thousand. But while purchasing the card they said they will provide up to one lakh as a credit limit to me . This is completely miscommunication has happened to me . I am going to cancel this card very sooner .
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Good reputations in Digital market"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar has good reputation in the online market . Customer can have the trust and login in with their personal information in the portal . I got a earlier call from them for the Credit card proceedings . They have chosen the correct card and dispatched on time to me .
      Was this review helpful? 0
      , indore
      Reviewed on Apr 23, 2019
    • ICICI Bank Credit Card
      "Very good"
      0.5 4.0/5 "Great!"
      This is life time free card no need any annual charges and in this card cash back offer but not much sometime got cash back last five month above I have ICICI bank credit card and I am satisfied with credit limit 45K and their customer service is good and response is also good , I am happy with this credit card,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • American Express Credit Card
      "Good"
      0.5 4.0/5 "Great!"
      I got credit card within 7 days after approval , this is chargeble 500 rupess and here rewards point offer , reacently I got american express credit card , I am satisfied with credit limit 50K , and their allover service is good , I am satisfied with this card,
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      It is the first time experience with the Bankbazaar.com as i am using it through the mobile application as the application is convenient and user friendly to access. The customer service is good and they are responsive as they explain the details of the card.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • SBI Cards Credit Card
      "Average card"
      0.5 3.0/5 "Satisfactory"
      I have STATE BANK OF INDIA credit card . They offered 10000 of limit but i need 30000 so i am not happy with that . Offers is nothing very limited only i ma getting reward points .There is joining fee but once i do the transaction of 30000 the fees will be waive off .
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Good service"
      0.5 5.0/5 "Blown Away!"
      For couple of months i am using bank bazaar website . The whole application process was smooth and hassle free. I never had any issues with the services. The customer support follow up was also effective during the application. Only when i call them they are not responding .
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 23, 2019
    • American Express Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I am using the AMEX CREDIT CARD for a very long time where the services had been quite good. The credit limit with this card is sufficient and there is some added benefits in using this card as well. The card is a life time free card and i am using the card for all sort of purposes. There has been some good reward point system with this card and the cash back offers are also good with the card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • IndusInd Bank Credit Card
      "Good card"
      0.5 5.0/5 "Blown Away!"
      I hold INDUISND BANK credit card , i was using this past 1month . They charge very reasonable interest rate and they have not charge me any annual fee which is good . Offers are good here in restaurants , traveling , reward points . This is good card and useful too .
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 23, 2019
    • SBI Cards Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been more than five years since i am using the SBI CREDIT CARD, the best thing with the card is the reward point system which it has. There is a good credit limit with this card and there has been some annual charges as well. I am using the card for all sort of purposes where i am getting some very good benefits by using it.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • ICICI Bank Credit Card
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It has been six years since i am using the ICICI BANK CREIDT CARD, the services of them has been good where there has been some very good offers they are providing as well. I am happy with the credit limit with this card and i am using the card for all sort of purposes like shopping. There is a good cash back offer which i am getting through this card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • American Express Credit Card
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The documentation process was smooth and simple with the applying credit card from AMERICAN EXPRESS BANKING CORPORATION, it is a payable for the first year of 500 rupees. The credit limit is good. I got the card within week. I am not using the offers from this card.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the services of BANK BAZAAR for the last two to three years where the services of them has been quite good. I had been using their mobile application which is having a good user interface, their customer support team has also been responsive where they had been helpful while getting my credit card through them.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • HDFC Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken the HDFC BANK MONEYBACK CARD since there is offers with this card on some online shopping portals. The process in getting this card was simple and easy, the card also was delivered on time. There is some annual charges of 500 with this card with a waver off option. I am satisfied with the credit limit with this card.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 23, 2019
    • SBI Cards Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the SBI CREDIT CARD for a long time and the services with them has been quite good, i am satisfied with the credit limit with this card and it has some good reward point system, based on that i am using it for multiple purposes. There is also some annual charges with the card.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Standard Chartered Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been a long time since i am using the STANDARD CHARTED BANK CREDIT CARD, where i am quite satisfied with the services provided by them. It has a good credit limit and there are added benefits with this card where i am utilizing it accordingly. The has not been any issues faced with the banking services of them so far and i am using the card for many purposes according to the benefits provided by them.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Citibank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been over five years since i am using the CITI BANK CREDIT CARD, i am happy with the services provided by them. There has been some good benefits in using the card which mostly comes like reward points while purchasing fuel. There is some annual charges but if i am using a certain limit it will get waved off.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • HDFC Bank Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I am using the HDFC BANK CREDIT CARD for more than six years where the services had been really good. The credit limit with the card is good and there is some benefits with this card which comes like reward points and cash back offers. The annual charges with the card will get waved off as per the usage.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    • Bank Bazaar Credit Card
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I was just looking in the INTERNET and came to know about the services of BANK BAZAAR, where initially i checked my credit score through them. The web portal with them is quite convenient in using and their customer support team is also really responsive. I had also applied for my credit card through them where the experience in getting my card has been easy.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 23, 2019
    Common Loader Icon
  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.