Low APR Credit Cards

BLUE FROM AMERICAN EXPRESS REVIEW:Apply Now | Back to Chart

Blue from American Express is designed for those who have already established a strong credit history and are looking for a card with a relatively low APR and a great reward program. Depending on your perceived creditworthiness, your APR could be as low as 8.99% or as high as 15.99%, with an introductory APR of 0% for up to 12 months. For users who request a balance transfer on their credit card application, the APR will be 2.99% for the first 12 months, and for users who request a balance transfer within the first 30 days, the APR will be 4.99% for the life of the balance. The standard purchase APR will apply to all other balance transfers. There is also a 3% transfer fee.

For users who wish to participate in the American Express Membership Rewards program, there is a $40 annual rewards fee. If cardholders do choose to participate in the program, they receive 1 rewards point for each dollar spent on purchases. No points are earned for balance transfers, cash advances or various fees and charges from American Express. Points can be redeemed for rewards including travel, merchandise, dining and entertainment. Rewards begin at 1,000 points. Points can also be combined with various frequent flyer accounts. There is no limit to how many points you can earn, and points do not expire.

These terms are excellent if you are able to qualify for the 8.99% interest rate and the full 12 month introductory period. If your credit history only qualifies you for the 15.99% APR and a significantly shorter introductory program, you are likely to find preferable rates with a different card offer. Also, if a low introductory balance transfer APR is a priority for you, you should consider one of the many cards that offer 0% introductory rates for balance transfers. But for consumers with very good credit, Blue from American Express is a great credit card option, offering a 0% introductory APR, low ongoing interest rate, and, for those who don’t mind a $40 annual fee, a very rewarding points program.

BLUE CASH FROM AMERICAN EXPRESS REVIEW:Apply Now | Back to Chart

Blue Cash from American Express is a good choice for consumers who want a card with a low APR, but who are also interested in earning cash back when they buy gas or make just about any other purchase. The introductory interest rate is 0% for up to 12 months, with an ongoing APR as low as 9.99% for cardholders with a strong credit history. Applicants who do not qualify for the 9.99% APR may be offered an interest rate of up to14.99%. Balance transfers submitted on the application are subject to a 2.99% APR for the first 12 months, and balance transfer requests within the first 30 days are subject to a 4.99% fixed APR. All other balance transfer requests are subject to the purchase APR. There is also a 3% transfer fee. Blue Cash from American Express does not charge an annual fee.

Initially, Blue Cash cardholders earn 1% cash back at gas stations, supermarkets and drug stores and .5% cash back on all other purchases made with their Blue Cash card. Once cardholders have spent more than $6,500, they begin earning 5% cash back at gas stations, supermarkets and drug stores and 1.5% cash back on all other purchases. Cash back is unlimited.

If you tend to be more frugal with your credit card purchases, Blue Cash from American Express rewards program may not be the best for you. This cash back program will be most rewarding to cardholders who are likely to spend $6,500 within their first few months using their card. Those with good credit who would like a 0% introductory APR, a low ongoing APR, and an excellent cash back program with no annual fee will surely be pleased with Blue Cash from American Express.