How to Choose the Best Low Intro APR Credit Card

If you’re looking for a credit card that offers a low intro APR, there are many options to choose from, each offering different potential perks. You’ll need to consider several factors to find the best option for you.

Let’s explore what low intro APR credit cards are, what to look for, qualifications and how to get the most out of these credit cards.

What is a low intro APR credit card?

A low intro APR credit card offers a temporary period of reduced or no interest on specific transactions, such as purchases, balance transfers or both. During the introductory period, you won’t be charged the standard APR on qualifying transactions. This can help you save on interest as you pay off balances or make larger purchases.

After the introductory period ends, the card’s regular APR will apply to any remaining balance, and new transactions, so it’s important to understand the terms and plan your payments.

What should you look for in a low intro APR credit card offer?

Some low intro APR credit cards may be better suited to your needs than others. Here are 4 factors that can help you find the best option for you:

Qualifying transactions

This category of credit card may offer a low introductory APR for balance transfers, new purchases or both. If it offers a reduced APR for both options, there may be different time frames for purchases versus balance transfers. If you’re looking to finance a new purchase, the purchase APR is going to be more important, while those looking to pay off credit card debt may value the balance-transfer APR offer.

Length of the intro APR period

An important component of a low intro APR offer is how long your introductory period will last. A longer low intro APR period on new purchases or balance transfers will give you more time to pay off the new purchases or balance transfers at the low intro interest rate.

Annual fees

If the card has an annual fee, consider any other perks that come with the card, including any cash back, points or miles earned on purchases with the card, and how much the low intro APR offer can save you in interest. Compare the annual fee against how much you think you’ll save.

Rewards and perks

While your main goal in applying for a new card might be to secure a low intro APR offer, additional perks and rewards can be a tiebreaker if you’re choosing between two similar cards. Keep in mind that you typically will not earn rewards on balance transfers.

How do you qualify for a low intro APR credit card?

To qualify for a credit card with a low introductory interest rate, you may need good to excellent credit with a history of timely payments.

Who should consider a low intro APR credit card?

A low intro APR credit card can be a smart choice for several types of borrowers. If you’re planning a significant purchase, such as furniture or electronics, and want to spread out payments without incurring much interest, a low intro APR on purchases can be ideal. Similarly, if you’re looking to consolidate existing credit card debt, a balance transfer card with a low intro APR can help you pay down balances faster while saving on interest.

These cards are typically best suited if you can commit to paying off your balance before the introductory period ends. Otherwise, you may face higher interest rates on the remaining balance.

How to get the most out of a low intro APR period

Whether you’re looking to pay down existing credit card debt or pay off a larger purchase, it's important to use the low intro APR period on your new credit card effectively. It can help to reexamine your budget and come up with a plan for paying off debt that you take on or transfer to the new card. For example, it could be helpful to know what payments you need to make on the new card each month to finish paying the transferred debt off by the end of the low intro APR period. Following such a plan can help you avoid higher interest charges on any unpaid portion of that debt.

Frequently asked questions

What's the best low-interest credit card?

The best low intro APR credit card depends on your needs. These cards may limit the promotional interest rate to new purchases or balance transfers. You’ll need to consider how you plan to use the card, as well as fees and rewards, to find the best credit card for you.

Are low intro APR credit cards a good idea?

A low intro APR credit card may help you save money on interest, especially if you can pay off the balance before the promotional period ends. You may need to factor in annual and balance-transfer fees, as well as any potential rewards, to make sure the costs don’t outweigh the savings.

How long can you get a low credit card APR?

It depends. Some credit card issuers may offer longer promotional APR periods than others. For context, credit card issuers who offer promotional APR periods are typically required to offer a minimum 6-month intro APR period. However, your options may depend on your credit score.

Disclosure: This article is for educational purposes. It is not intended to provide legal, investment, or financial advice and is not a substitute for professional advice. It does not indicate the availability of any Citi product or service. For advice about your specific circumstances, you should consult a qualified professional.