0 Intro APR Credit Cards in Canada: A Comprehensive Guide
Are you tired of paying high interest rates on your credit card balances? Do you want to save money on interest charges and pay off your debt faster? If so, a 0 intro APR credit card in Canada may be the perfect solution for you.
What is a 0 Intro APR Credit Card?
A 0 intro APR credit card is a type of credit card that offers a 0% introductory annual percentage rate (APR) for a specific period, usually 6-12 months. This means that during the promotional period, you won't be charged any interest on your purchases or balance transfers. This can be a great way to save money on interest charges and pay off your debt faster.
Benefits of 0 Intro APR Credit Cards in Canada
Save Money on Interest Charges
With a 0 intro APR credit card, you won't be charged any interest on your purchases or balance transfers during the promotional period. This can save you a significant amount of money on interest charges, especially if you're carrying a large balance.
Pay Off Debt Faster
A 0 intro APR credit card can help you pay off your debt faster by allowing you to focus on paying off the principal amount without incurring interest charges.
Improve Your Credit Score
By paying off your debt faster and making timely payments, you can improve your credit score over time.
Top 0 Intro APR Credit Cards in Canada
Scotiabank Value Visa Card
- 0% intro APR for 6 months on purchases and balance transfers
- $29 annual fee
- 12.99% regular APR
RBC Visa Classic Card
- 0% intro APR for 6 months on purchases and balance transfers
- $29 annual fee
- 12.99% regular APR
TD Cash Back Visa Infinite Card
- 0% intro APR for 6 months on purchases and balance transfers
- $139 annual fee
- 12.99% regular APR
American Express SimplyCash Preferred Card
- 0% intro APR for 6 months on purchases and balance transfers
- $99 annual fee
- 12.99% regular APR
Things to Consider
Regular APR
After the promotional period ends, the regular APR will apply. Make sure you understand the regular APR before applying for a 0 intro APR credit card.
Fees
Some 0 intro APR credit cards may come with annual fees, foreign transaction fees, or other charges. Make sure you understand all the fees associated with the card before applying.
Credit Score
To be eligible for a 0 intro APR credit card, you'll typically need a good credit score. If you have a poor credit score, you may not be eligible for these types of cards.
Conclusion
A 0 intro APR credit card can be a great way to save money on interest charges and pay off your debt faster. However, it's essential to understand the terms and conditions of the card, including the regular APR, fees, and credit score requirements. By doing your research and choosing the right card for your needs, you can take advantage of the benefits of a 0 intro APR credit card in Canada.
