0 APR Credit Cards for Fair Credit: What You Need to Know
If you have fair credit, you may think that getting a 0 APR credit card is out of reach. But, surprisingly, there are several options available that can help you save money on interest charges and improve your credit score over time. In this article, we'll explore the best 0 APR credit cards for fair credit, their benefits, and what you need to know before applying.
What is Fair Credit?
Fair credit is generally considered to be a credit score between 620 and 679, according to the FICO credit scoring model. While it's not excellent credit, it's still possible to get approved for credit cards with competitive rates and terms.
Best 0 APR Credit Cards for Fair Credit
Here are some of the top 0 APR credit cards for fair credit:
Discover it Chrome
- 0% intro APR for 14 months on purchases and balance transfers
- Regular APR: 12.49% - 23.49% (Variable)
- No annual fee
- 2% cashback at gas stations and restaurants, and 1% cashback on all other purchases
Capital One QuicksilverOne Cash Rewards Credit Card
- 0% intro APR for 15 months on purchases and balance transfers
- Regular APR: 14.49% - 24.49% (Variable)
- $39 annual fee
- Unlimited 1.5% cashback on all purchases
Wells Fargo Platinum card
- 0% intro APR for 18 months on purchases and balance transfers
- Regular APR: 12.49% - 24.49% (Variable)
- No annual fee
- No rewards program, but offers cell phone protection and travel insurance
Citi Diamond Preferred Card
- 0% intro APR for 21 months on balance transfers (14 months on purchases)
- Regular APR: 12.49% - 22.49% (Variable)
- No annual fee
- No rewards program, but offers Citi Private Pass and personalized concierge service
Benefits of 0 APR Credit Cards for Fair Credit
While these credit cards are designed for fair credit, they still offer some excellent benefits:
- Save money on interest charges: With 0 APR for an introductory period, you can save money on interest charges and pay off your debt faster.
- Improve your credit score: Making on-time payments and keeping your credit utilization ratio low can help improve your credit score over time.
- Earn rewards: Some of these credit cards offer cashback rewards or other perks that can help you earn money back or enjoy exclusive benefits.
What to Consider Before Applying
Before applying for a 0 APR credit card for fair credit, consider the following:
- Introductory period: Make sure you understand how long the 0 APR introductory period lasts and what the regular APR will be after that.
- Balance transfer fees: Check if there are balance transfer fees associated with the credit card, as these can add up quickly.
- Credit score requirements: While these credit cards are designed for fair credit, you may still need to meet certain credit score requirements to get approved.
- Annual fees: Check if the credit card has an annual fee and whether it's worth the benefits and rewards offered.
Conclusion
Getting a 0 APR credit card with fair credit may require some research, but it's not impossible. By understanding the benefits and terms of these credit cards, you can make an informed decision and start saving money on interest charges while improving your credit score over time. Remember to always read the fine print and consider your financial situation before applying.
