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Credit: Which cards have the lowest rates right now?

As America tries to return to normal after the pandemic, data shows credit card debt has risen at the fastest rate in recent history.

credit cards stacked on a table top

The total amount of current credit card debt in the United States went up $52 billion in the fourth quarter of 2021, according to AS.

At the beginning of the pandemic the debt was higher.

It is now $67 billion less than when the pandemic started and is a total of $860 billion.

The final quarter is usually higher due to the holidays and higher rates of purchasing.

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Best credit cards available to consumers

AS reports data released by Nerd Wallet that offers customers options for low interest rates in different situations.

For the best 0% intro APR period, BankAmericard is the best credit card.

  • 0% intro period and flat rate cash back has a Wells Fargo Active Cash Card as the best option.
  • If you’re looking for the longest 0% intro APR period than the Wells Fargo Reflect Card will be the best option.
  • The best card for 0% intro period and bonus category cash back is the Discover It Cash Back.
  • If you’re looking for ongoing cash back with a 0% intro period then Chase Freedom Unlimited is the best option.
  • Finally, 0% intro period with grocery and gas rewards are the best with the Blue Cash Everyday Card through American Express.

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Why is credit card debt all of the sudden so high?

Inflation has made the cost of living less affordable on what people were making at the start of the pandemic.

This has caused people to begin relying more heavily on their credit cards for day to day purchases like gas or groceries.

The good news is that with the balancing out following the pandemic, credit card use is going back to the way it was two years ago.

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