Best Credit Cards With 0% Introductory APR
Looking for a credit card that offers a period of 0% interest on purchases or balance transfers? You're in luck! There are several great options available, offering you the opportunity to save money on interest charges and pay down debt faster.
Here's a breakdown of some of the best credit cards with 0% introductory APRs, along with their key features and benefits:
Best for Balance Transfers:
-
Citi Simplicity® Card:
- Introductory APR: 0% for 21 months on balance transfers (then a variable APR of 19.99% - 26.99%)
- Transfer Fee: $5 or 5% of the amount transferred, whichever is greater.
- Other Benefits: No annual fee, no foreign transaction fees.
-
Discover it® Balance Transfer:
- Introductory APR: 0% for 18 months on balance transfers (then a variable APR of 15.99% - 23.99%).
- Transfer Fee: None
- Other Benefits: No annual fee, Cashback Match program that matches all the cashback you earn in your first year.
Best for Purchases:
- Chase Freedom Unlimited®:
- Introductory APR: 0% for 15 months on purchases (then a variable APR of 17.99% - 26.99%).
- Other Benefits: Unlimited 1.5% cashback on all purchases, no annual fee.
- Blue Cash Preferred® Card from American Express:
- Introductory APR: 0% for 12 months on purchases (then a variable APR of 16.99% - 26.99%).
- Other Benefits: 6% cashback at U.S. supermarkets on up to $6,000 per year (then 1%), 3% cashback at U.S. gas stations and select U.S. department stores, 1% cashback on other eligible purchases. $95 annual fee.
Important Considerations:
- Introductory Period: Pay close attention to the introductory period's duration. Make a plan to pay off the balance before the promotional rate expires to avoid high interest charges.
- Transfer Fees: Some cards charge a fee for transferring balances. Compare fees to find the most cost-effective option.
- Regular APR: Understand the regular APR that applies after the introductory period ends. Choose a card with a low regular APR if you anticipate carrying a balance.
- Credit Score: Ensure you meet the minimum credit score requirement for the card you are applying for.
Tips for Using 0% Intro APR Cards Effectively:
- Maximize your savings: Use the 0% introductory period to pay down existing debt or make larger purchases.
- Budget and track spending: Create a budget and track your spending to ensure you pay off the balance before the introductory period expires.
- Set reminders: Set calendar reminders to help you stay on track with payments and avoid penalties.
- Avoid new debt: Refrain from accumulating new debt during the introductory period.
Remember, 0% introductory APR credit cards can be valuable tools for managing your finances. By choosing the right card and using it wisely, you can save money on interest charges and reach your financial goals faster.
