0 Interest Credit Cards for Bad Credit: A Review
Are you struggling with bad credit, but still need a credit card for emergency expenses or to rebuild your credit score? Look no further! In this article, we'll review the best 0 interest credit cards for bad credit, helping you make an informed decision.
What are 0 Interest Credit Cards?
0 interest credit cards offer a promotional period with 0% interest rates, usually ranging from 6 to 21 months. During this time, you won't be charged interest on your purchases or balance transfers, providing an opportunity to save money and pay off debt.
How to Qualify for a 0 Interest Credit Card with Bad Credit
Typically, credit card issuers require a good credit score (700+ FICO) for 0 interest credit cards. However, some credit cards are designed specifically for people with bad credit (below 600 FICO). These cards usually come with:
- High interest rates after the promotional period
- Higher fees
- Lower credit limits
- Stricter qualification criteria
Top 0 Interest Credit Cards for Bad Credit
Here are some of the best 0 interest credit cards for bad credit:
1. Indigo Platinum Mastercard Credit Card
- 0% intro APR for 6 months on purchases and balance transfers
- Regular APR: 24.9% (Variable)
- Annual fee: $0 - $99
- Credit score requirement: 300 - 579 FICO
2. Milestone Mastercard
- 0% intro APR for 12 months on purchases and balance transfers
- Regular APR: 24.9% (Variable)
- Annual fee: $35 - $99
- Credit score requirement: 300 - 579 FICO
3. Capital One QuicksilverOne Cash Rewards Credit Card
- 0% intro APR for 15 months on purchases and balance transfers
- Regular APR: 26.99% (Variable)
- Annual fee: $39
- Credit score requirement: 550 - 649 FICO
Things to Consider
Before applying for a 0 interest credit card with bad credit, remember:
- The promotional period is limited, and regular APRs can be high
- Fees and interest rates may apply after the promotional period
- Your credit limit may be lower than expected
- Make timely payments to avoid interest charges and late fees
Conclusion
While 0 interest credit cards for bad credit may not offer the most favorable terms, they can still provide a chance to rebuild your credit score and manage debt. Always review the terms and conditions carefully, and make sure you understand the fees and interest rates associated with the card.
Remember, responsible credit habits and timely payments are key to improving your credit score and enjoying the benefits of a 0 interest credit card!
