Finance

Is There an Actual Credit Card With 5.99% Interest Rate?

February 20, 2025

Can You Really Get a 5.99% Interest Rate Credit Card?

Credit cards with low interest rates are highly sought after, especially for people who carry a balance and want to save on interest payments. The average credit card APR (Annual Percentage Rate) in 2025 ranges from 20% to 25%, making a 5.99% interest rate sound too good to be true.

But does such a credit card really exist? And if so, how can you qualify for one?

In this article, we’ll answer all your questions about 5.99% APR credit cards, including:

✅ Which credit cards offer 5.99% interest rates?
✅ Are these rates permanent or introductory?
✅ How do you qualify for a low-interest credit card?
✅ Alternatives if you can’t get a 5.99% APR card.

Let’s dive in.

Are There Credit Cards With a 5.99% Interest Rate?

Yes, some credit unions and smaller financial institutions offer credit cards with 5.99% interest rates. However, these low rates are not common among major credit card issuers like Chase, Citi, or American Express.

There are two types of low-interest credit cards that may offer a 5.99% APR:

1️⃣ Fixed-Rate Credit Cards – These offer a permanently low APR on purchases and balance transfers.
2️⃣ Introductory 5.99% APR Credit Cards – These have a temporary low rate for a set period (e.g., 12-18 months).

Key Things to Know About 5.99% APR Credit Cards:

Availability: Mostly offered by credit unions instead of big banks.
Qualification: Requires excellent credit (740+ score) and sometimes membership in a credit union.
Fixed or Intro APR: Some offer a permanent 5.99% APR, while others have it for a limited time.
Balance Transfers: Some cards allow low-interest balance transfers to help pay off high-interest debt.

Low Interest Rate Credit Cards Available in 2025

While most major banks do not offer a fixed 5.99% APR credit card, some credit unions and smaller banks do. Here are the best options currently available.

1. Connexus Credit Union Visa® Platinum Card

💳 APR: 5.99% – 9.99% (Based on creditworthiness)
💰 Annual Fee: $0
🔄 Balance Transfer Fee: 3%
✅ Why It’s Great:
✔️ One of the lowest interest rates available.
✔️ No penalty APR for missed payments.
✔️ Comes with fraud protection and travel benefits.

💡 Best for: If you have excellent credit, this is one of the best 5.99% APR credit cards available.

2. Lake Michigan Credit Union Prime Platinum Visa

💳 APR: 6.25% (Slightly above 5.99%)
💰 Annual Fee: $0
🔄 Balance Transfer Fee: None
✅ Why It’s Great:
✔️ Extremely low, fixed APR compared to most cards.
✔️ No balance transfer or cash advance fees.
✔️ Great for large purchases and long-term financing.

💡 Best for: If you want a low, stable APR without extra fees.

3. DCU Visa® Platinum Card

💳 APR: 8.50% (Higher than 5.99%, but still low)
💰 Annual Fee: $0
🔄 Balance Transfer Fee: None
✅ Why It’s Great:
✔️ Lower than industry-average APR.
✔️ No hidden fees.
✔️ Free fraud protection & travel benefits.

💡 Best for: If you can’t get a 5.99% APR card, this is a solid alternative.

4. RBFCU Premier Rate Card

💳 APR: 7.75% – 9.75% (Slightly higher than 5.99%)
💰 Annual Fee: $0
🔄 Balance Transfer Fee: None
✅ Why It’s Great:
✔️ No balance transfer fees.
✔️ Offers purchase protection.
✔️ One of the lowest APRs available.

💡 Best for: If you need a long-term low-interest card with no hidden fees.

How to Qualify for a 5.99% Interest Rate Credit Card

Since 5.99% APR credit cards are rare, getting approved can be challenging. Here’s how to improve your chances:

✅ 1. Maintain an Excellent Credit Score (740+)

Low-interest credit cards favor excellent credit applicants.
Keep your credit utilization under 30% and make on-time payments.

✅ 2. Consider a Credit Union Instead of a Bank

Traditional banks don’t usually offer 5.99% APR cards.
Credit unions are member-focused and offer lower APRs.

✅ 3. Have a Strong Financial Profile

A high income-to-debt ratio increases approval chances.
A long credit history can help secure lower APRs.

✅ 4. Apply for a Secured Low-APR Card

Some secured credit cards offer low APRs after responsible usage.

Alternatives If You Can’t Get a 5.99% Interest Rate Credit Card

If you don’t qualify for a 5.99% APR credit card, consider these options:

1. Balance Transfer Credit Cards (0% Intro APR)

Many cards offer 0% intro APR for 12-21 months, such as:
✅ Citi Simplicity® Card
✅ Wells Fargo Reflect® Card

2. Low-Fixed APR Credit Cards (7%-12%)

Some credit unions offer fixed APR cards with 7%-12% interest.

3. Personal Loans for Debt Consolidation

If you can’t get a low-APR card, a low-interest personal loan (5%-10%) could be an alternative.

Final Thoughts: Can You Really Get a 5.99% Interest Rate Credit Card?

Yes, but they are rare and mostly offered by credit unions instead of traditional banks.

🚀 Best for:
✔️ People with excellent credit (740+)
✔️ Those who carry a balance and want to save on interest
✔️ Credit union members looking for affordable financing options

💡 Not everyone will qualify, but even if you don’t, you can still find low-interest credit cards (6%-10% APR) or 0% intro APR balance transfer cards.

🔎 Final Tip: If you want a 5.99% APR card, start by improving your credit score and looking for credit union options, as they typically offer better rates than banks.

✨ Ready to apply? Find the best 5.99% APR credit card today and start saving on interest!

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