Are there any downsides to using a lower interest rate credit card, such as reduced rewards or fewer benefits?

Lower interest rate credit cards may have fewer rewards or benefits than other credit cards. Credit card issuers often use rewards and benefits as an incentive to attract customers, but they may not be as generous with these features on lower interest rate cards. For example, a lower interest rate card may have a lower cashback rate or fewer points per dollar spent compared to a rewards credit card.

Another potential downside of lower interest rate credit cards is that they may have stricter eligibility requirements, such as a higher credit score or income level. This could make it more difficult for some consumers to qualify for these cards.

It's important to carefully review the terms and conditions of any credit card, including a lower interest rate card, to determine if it's the best option for your financial needs and goals.