If you regularly carry a balance, a low interest rate credit card may be a good investment. These cards do not usually have as many bells and whistles as others, but the low rate provides you with valuable savings. Low interest rate credit cards allow you to manage your balance without shelling out hundreds of dollars in interest fees. Here's a look at three to consider.

Capital One Platinum Prestige

Apply for this card, and you'll receive a 0 percent introductory rate for the first twelve months. After that, a regular low interest rate sets in. This number is variable, meaning that it can change over time. Even so, you'll find it is much lower than what you would receive in most rewards cards, which tend to have interest rates that are at least double what you'll pay for the Capital One Platinum Prestige option.

Unlike many cards, which charge high interest rates and fees if you miss even one payment, the Capital One Platinum Prestige has a forgiving feature. If you go over your credit limit or miss a payment once, your APR will not skyrocket. You're allowed one slip-up every year with this card. And there's no annual fee.

Citibank Platinum Select MasterCard

If you need to carry a balance on your card, the Citibank Platinum Select MasterCard is another option to consider. With it, you can set up a system to have payments made on an automatic basis. This way you won't miss a payment, and you may even be able to pay off the balance in a shorter period of time.

There's no annual fee, and no charge for adding on another cardholder. You can choose to have your own photo on the card if you want. You'll also receive various travel services and a variety of security features. As an added plus, the company will send you a financial report listing your card's activities at the end of the year.

It should be noted that the low interest rate for the Citibank Platinum Select MasterCard is given to those with excellent credit. If you have less than that, you can still be approved for the card. However, you may receive a slightly higher interest rate.

Blue from American Express

With Blue from American Express, you'll receive both a low interest rate and a chance to participate in a rewards program. You'll start off with no annual fee and a 0 percent APR on purchases for the first twelve months. You can also bring over an existing balance for a low rate. When you apply, you'll receive notice of whether or not you've been approved within 60 seconds.

The points you earn through the program can be redeemed for gift cards, travel benefits, and other items. If you want a low interest rate and a rewards program, Blue from American Express might work well for you. In order to qualify for the best interest rate, however, you'll need to have a strong credit rating. Those that do not will receive a higher APR with the card.

No matter what your financial situation is, if you plan to carry a balance more often than not, getting a low interest rate credit card is a good choice. It will save you money that you would otherwise give up in high interest charges. This makes it a valuable tool that will offer you a strong line of credit, year after year.