Best Card Summary
City® Diamond Preferred® Card
Why it’s one of the best 0% introductory APR credit cards: Cardholders receive a full 18-month 0% introductory rate on purchases and any remaining transfers completed within four months of opening your account. After that, APR is 14.74% to 24.74% (variable). In addition, City Entertainment Perks provide access to events, music and experiences.
Blue Cash Everyday Card from American Express
Why it’s one of the best 0% introductory APR credit cards: when you earn 3% cash in US supermarkets (up to $ 6,000 a year, then 1%), 2% at US department stores and US gas stations, and 1 % On other purchases, you also have a 15% 0% APR on the purchase to take advantage. Also, new cardholders earn $ 100 after making $ 1,000 in purchases on your card within the first six months. You will earn 20% back on purchases made in the first six months (up to $ 200 back) on Amazon.com.
Capital One QuickSilver Cash Rewards Credit Card
Why it is one of the best 0% introductory APR credit cards: Cardholders receive a 0% annual percentage rate on purchases for 15 months and 1.5% cash back on every purchase, with no cap on earnings. If you spend $ 500 within three months of opening your account, you will receive a $ 200 cash bonus.
Find it® Cash Back
Why it’s one of the best 0% introductory APR credit cards: With Discover it cash back, you’ll get a 14-month 0% annual percentage rate on purchases and balance transfers (then 11.99% to 22.99% variable APR applies) . Cash back prize deal sweet. The card offers 5% cash back in rotating categories every quarter, such as Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the maximum quarter when you are active. All other purchases earn unlimited 1% cash back. Cardholders pay no annual fee, and Discover matches your cash back earnings at the end of the first year.
Search for it® chrome
Why it’s one of the best 0% introductory APR credit cards: Discover This gives Chrome Cardholders a 14-month 0% introductory annual percentage rate on purchases and balance transfers and no annual fees. The intra-period is followed by a variable APR of 11.99% to 22.99%. Gas and restaurant purchases earn 2% cash up to $ 1,000 in combined purchases each quarter, and all other purchases receive 1% back.
Capital One SavorOne Cash Rewards Credit Card
Why it is one of the best 0% introductory APR credit cards: You will receive a 15-month 0% annual percentage rate on purchases with this card. Also, users earn unlimited 3% cash on food and entertainment, 2% back at grocery stores, and 1% back on all other purchases.
American Express Cash Magnet® Card
Why it’s one of the best 0% introductory APR credit cards: For those looking for a flat-rate cash back card with a strong introductory APR offer, American Express Cash Magnet Card offers both. Enjoy 15% 0% APR on purchases earning 1.5% cash back.
It shows ® mi
Why it’s one of the best 0% introductory APR credit cards: Discover This Miles earns unlimited 1.5 miles per dollar on every purchase, which can be redeemed for cash or travel. Discover will automatically match all miles earned at the end of your first year. Cardholders pay no annual fee and receive a 14-month 0% introductory annual percentage rate on purchases (then 11.99% to 22.99% variable APR).
Wells Fargo Visa Signature® Card
Why it is one of the best 0% introductory APR credit cards: Wells Fargo Visa Signature Card offers 15% 0% APR on both purchases and balance transfers. Cardholders will also receive a bonus cash back offer for the first six months, with five points per dollar (up to $ 12,500) on groceries, gas and drugstore expenses.
Wells fargo rewards® card
Why it’s one of the best 0% introductory APR credit cards: Earn five points per dollar at gas, grocery and drug stores in the first six months (up to $ 12,500). And for 15 months, there is wiggle room as a 0% APR on purchases and balance transfers.
What can you expect from a 0% APR credit card?
Here you should know about 0% APR Credit Card:
Introductory APR: About 13% of the cards in this category have an 18-month 0% APR offer on purchase. A 15-month 0% APR offer is more common.
Balance Transfer Offer: About three-quarters of the cards surveyed have a balance transfer offer of 15 months or longer.
Annual Fee: None of the 0% APR cards in the survey charge an annual fee.
Credit required: More than half of 0% credit cards require good or excellent credit, but options are available for average, fair, limited or new credit.
How can 0% APR Credit Card save you?
As long as you make at least the minimum payment, on the 0% APR credit card, your balance does not earn any interest during the introductory period. This can give significant savings if you are paying off the balance over time.
“Members are essentially receiving interest-free loans,” says Richard Kerr, founder of 101 Travel, an award from Facebook Travel.
For example, Kerr says that planned expenses such as medical bills may be a good use for a 0% APR card. Health care providers can offer financing, or you can apply for a personal loan to cover your medical expenses.
But if you have a $ 2,000 medical loan at 6% interest and it takes 12 months to repay, you will pay $ 66 in interest. On the other hand, with a card providing 0% APR for 12 months, if you pay it at the same time, you will not incur any interest.
Zero percent APR cards can help you save debt consolidation, too. With the balance transfer offer, you can take a balance from those cards that charge interest on a new card that temporarily charges 0% APR.
Alex Miller, founder of UpgradedPoints.com, says, “In this scenario the 0% APR card can essentially give you time to get the balance paid without any additional interest rate charges,” Travel Rewards.
If you have a $ 5,000 loan on a credit card with 17% APR and have to pay it off in 12 months, you will pay about $ 456 monthly and about $ 472 interest. But if you take advantage of the 12-month 0% APR balance transfer offer and make the same monthly payment, then you can pay it in 11 months without interest charges.
Should you use a 0% APR credit card for rewards?
Some 0% APR credit cards earn rewards, which you can use for cash back, points or miles on interest-free purchases. But 0% APR cards cannot earn the highest rate on rewards, so it is good to think of rewards as an extra perk and focus on interest savings instead.
“If you know that you can avoid interest rate charges by using the 0% introductory APR card to fund emergency purchases, then you’re also winning by earning rewards at the same time,” says Miller.
But he warns that you have to pay your balance during the promotional rate period. Otherwise you can pay more interest than you get back in the prize.
A card with a 0% introductory APR and a sign-up bonus can help you save on interest while reducing the cost of an expense. To pay for this, you will receive a $ 150 welcome bonus to the card, which applies after spending $ 1,000 within the first three months. The purchase will also earn 1% cash back for $ 10, reducing the $ 1,000 expense to $ 840. And you will have more than a year to make interest free payments.
How can you offer a maximum 0% APR card?
Interest-free credit cards, even if the perk is temporary, can be an exciting tool at your disposal. But it is important to use the 0% APR card strategically and responsibly, remembering that free rides do not last forever and you still have to pay.
“I would really recommend a 0% introductory APR only for emergency situations,” Miller says. “This is not an excuse to buy that 52-inch flat screen TV that you are watching.” He says that it is important to be responsible with a 0% APR offer because you run the risk of not paying the balance within the promotional window.
Pay at least the minimum. It is essential that you make at least the minimum payment on time during each statement period. If your Payment is late, Or you make less than the minimum payment, you will usually lose your promotional rate, and the credit card issuer will charge interest on the regular APR.
You may have to pay late fees, and if you are delayed for 60 days or more, the penalty APR may apply. It is a good idea to set a reminder or automatic payment to at least the minimum so that your payment is covered even if you forget.
Understand how payments are applied. When you pay more than the minimum requirement, the money goes towards whatever remaining interest rate is first. For example, if you withdraw a cash advance on your 0% APR card, any amount that pays the minimum amount due will usually apply to your cash advance balance.
While this can be helpful, as it allows you to reduce the interest-bearing balance, it can slow your progress if you are trying to pay off your full balance before the introductory rate expires. When you are taking advantage of the 0% APR offer, it is best to avoid charging interest-bearing fees so that you can pay the balance as efficiently as possible.
Factor in other costs. Watch for fees including annual fees and balance transfer fees. Some 0% APR cards have an annual fee. If you are taking advantage of the 0% balance transfer APR offer, you may still have to pay a 3% to 5% fee on the transfer amount. Although fees are sometimes payable if they allow you to save money overall, you should factor in their costs before deciding to take advantage of the 0% APR offer.
plan ahead. If you know that you are having a big purchase that you would like to repay over time, then purchase 0% APR card. Kerr says offers change all the time, so stay tuned until you find the offer you want or have time to make your purchase.
You do not want to apply too early as the introductory APR starts from the day you open your account. Apply too late, and your card may not be available if you need it. Ideally, you should apply approximately two to three weeks before making a purchase, as it may take a few business days to be approved and usually around one and a half to receive your card in the mail depending on the issuer of the mail It takes weeks.
Know when your offer ends. The goal of using the 0% APR card is to pay off your balance before your introductory period ends, so make sure you know exactly when. Verify the date with your credit card company, so that you know that you need to pay your balance in full and can get the maximum price from your interest-free offer.