Finding a low-interest credit card in 2016 depends upon on a number of variables. First and foremost, applicants must possess good to excellent credit in order to qualify for any low-interest credit card. Secondly, consumers who currently hold high-interest credit cards can ask the companies to lower their interest rates. If the credit card companies refuse to lower the interest rates, then consumers should consider balance transfers to companies offering far lower APRs. 2016 is no different than any other year when it comes to finding low interest rate credit cards, so here is a list of companies offering various promotions, rewards and lower interest rates.

Top Low-Interest Credit Card for 2016

The Citi Diamond Preferred credit card offers a zero percent annual percentage rate on purchases for the first 21 months based on the cardholder’s creditworthiness. Consumers transferring balances from other cards also receive a zero percent APR for the first 21 months that Citi determines by creditworthiness. The regular APR after the first 21 months ranges from 12.24 percent to 22.24 percent. The regular APR is a variable rate based on timely payments, current credit scores and balances. The Citi Diamond Preferred Credit Card is a top low-interest credit card for 2016.

Top Low-Interest Business Credit Card for 2016

The Ink Plus Business Credit Card offered by Chase does not charge an introductory APR for purchases and balance transfers. The regular APR, which is a variable rate, is 15.49 percent. Chase charges a $95 annual fee and applicants must possess excellent credit scores to qualify for the card. Cardholders earn 60,000 reward points after they spend $5,000 or more in purchases during the first three months of using the card. Chase does not charge any transaction fees on the Ink Plus Business Credit Card.

Top Low-Interest Poor Credit Score Credit Card for 2016

Although it is difficult to obtain low-interest credit cards with poor credit scores, some banks do offer reasonable terms and low fees for applicants with bad credit. The Capital One Secured MasterCard does not charge an annual fee and features credit-building benefits for cardholders who make timely payments. Cardholders can request credit line increases if they continue to produce timely payments. Applicants receive $200 credit lines upon approval by meeting the company’s minimum security deposit requirements. The Capital One Secured MasterCard is not a prepaid credit card, and the card helps consumers with poor credit scores build credit through timely payments. The regular variable APR for this card is 24.99 percent, and there is no annual fee or balance transfer APR.

High-interest credit cards can put many consumers in severe financial distress. However, shopping for low-interest cards is a game of understanding what companies charge the lowest annual percentage rates on purchases and balance transfers. High interest rates do not last forever, and consumers must recognize they do possess the power to negotiate lower rates with their credit card companies in 2016 and beyond.