For the Lowest Credit Card Interest Rates, Look to Small Banks

The federal funds rate is just 1%—as low as it has been in fifty years. Theoretically, credit card interest rates should be at all-time lows, too. Trouble is, major credit card issuers, battling soaring delinquencies and charge offs, are raising, not lowering, rates. Pay your credit card over time? The difference between 8% and 15% interest will add up. Here are two credit cards with a couple of the lowest regular credit card APRs I’ve seen—6.5% and 8%.

Pulaski bank visa

The Pulaski Bank Visa has the lowest credit card APR I’ve ever seen—just 6.5%. And that’s fixed, meaning it won’t go up just because the prime rate goes up. The Pulaski Bank Visa also offers a 0% balance transfer for six months with no balance transfer fee—another rarity, as most banks charge 3% of the balance you transfer, lessening the benefit of transferring in the first place.

The Pulaski Visa does charge a $35 annual fee, so if you transfer a balance of $1,000 or more from a card with an interest rate of 10% or higher, you should save money. Read more about the Pulaski Bank Visa.

IberiaBank Platinum Rewards Card

IberiaBank Platinum Rewards credit card comes with a regular APR that is as low as 8% but carries no annual fee and has a point-based rewards program. This card also offers 0% balance transfers—with no fee—for six months. Learn more about the IberiaBank credit card.

If you belong to a small regional bank or credit union, be sure to check out their credit card rates. While the big players like Chase, Cit, Cap One, and Amex tend to lead in the credit card rewards game, you’ll probably find better rates, terms, and customer service from a small bank.