0 Interest Credit Cards: Balance Transfer and Purchases
Are you tired of paying high interest rates on your credit card debt? Do you want to make a purchase without incurring interest charges? Look no further than 0 interest credit cards! These credit cards offer a promotional period of 0% interest on balance transfers and/or purchases, allowing you to save money and pay off your debt faster.
What are 0 Interest Credit Cards?
0 interest credit cards are credit cards that offer a promotional period of 0% interest on balance transfers, purchases, or both. During this promotional period, which can range from 6 to 21 months, you won't be charged interest on your outstanding balance. This can be a great way to pay off your debt, make a large purchase, or even earn rewards without incurring interest charges.
Balance Transfer 0 Interest Credit Cards
Balance transfer 0 interest credit cards allow you to transfer your existing credit card debt to a new credit card with a 0% interest rate. This can be a great way to consolidate your debt and save money on interest charges. Here are some popular balance transfer 0 interest credit cards:
- Citi Simplicity Card: 21 months of 0% interest on balance transfers, with a balance transfer fee of 3% or $5, whichever is greater.
- Discover it Balance Transfer: 18 months of 0% interest on balance transfers, with a balance transfer fee of 3% or $10, whichever is greater.
- Chase Slate Edge: 18 months of 0% interest on balance transfers, with a balance transfer fee of 3% or $10, whichever is greater.
Purchases 0 Interest Credit Cards
Purchases 0 interest credit cards offer a promotional period of 0% interest on new purchases. This can be a great way to make a large purchase without incurring interest charges. Here are some popular purchases 0 interest credit cards:
- Amazon Prime Rewards Visa Signature Card: 6 months of 0% interest on new purchases, with no annual fee.
- Walmart Credit Card: 6 months of 0% interest on new purchases, with no annual fee.
- Target RedCard: 6 months of 0% interest on new purchases, with no annual fee.
Things to Consider
While 0 interest credit cards can be a great way to save money and pay off your debt, there are some things to consider:
- Promotional period: The 0% interest rate is only available for a limited time, so make sure you can pay off your debt within that timeframe.
- Balance transfer fee: Many balance transfer credit cards charge a fee for transferring your debt, which can range from 3% to 5% of the transferred amount.
- Regular APR: After the promotional period ends, the regular APR will apply, which can be much higher than the promotional rate.
- Credit score: To qualify for a 0 interest credit card, you'll typically need a good credit score.
Conclusion
0 interest credit cards can be a great way to save money and pay off your debt, but it's important to understand the terms and conditions of the card. By doing your research and choosing the right card for your needs, you can take advantage of the promotional period and achieve your financial goals.
