Credit cards can be a practical instrument for paying for new purchases and paying off previous debt. For up to 21 months, several of the finest credit cards offer 0% APR on debt transfers, new purchases, or both.
If you have a debt on a high-interest credit card, where a percentage of your payment is used to cover interest charges, this can result in significant savings. After all, the Federal Reserve reports that the average APR for credit cards is currently over 16%. If you utilize an initial 0% APR credit card responsibly, it’s a wise financial move to get one if you have outstanding debt on another card or intend to make a sizable purchase.
To help you save the most money, Select has compiled a list of the top interest-free credit cards below. (See below for further information on our process.)
Best credit cards with 0% APR
Up to 21 months: Citi Simplicity® Card; Wells Fargo Reflect® Card; Citi Diamond Preferred® Card; U.S. Bank Visa® Platinum Card; 15 months: Amex EveryDay® Credit Card; Capital One SavorOne Cash Rewards Credit Card; Chase Freedom FlexSM; Chase Freedom Unlimited®; American Express Cash Magnet® Card; Blue Cash Everyday® Card from American Express; Citi Custom CashSM Card; The Bank of America
Reflect® Card from Wells Fargo
This card is for whom? For those who want to either consolidate existing debt or pay off major purchases over time, the Wells Fargo Reflect® Card is the best option.
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The card offers a 0% introductory APR on purchases and qualifying balance transfers for 18 months after account opening (17.24% – 29.24% variable APR thereafter). With on-time minimum payments made throughout the intro term, you can obtain an intro APR extension for three months, extending the total 0% intro APR period to 21 months. The initial transfer fee for balance transfers is 3% ($5 minimum), which increases to 5% ($5 minimum) after 120 days from the account activation.
Although this card doesn’t provide any spending rewards, it does provide cell phone insurance.
Diamond Preferred® by Citi® Card
This card is for whom? Another excellent choice for financing significant purchases or transferring credit card debt is the Citi® Diamond Preferred® Card. Balance transfers made with the card have a 0% intro APR for 21 months starting on the date of the first transfer and purchases have a 0% initial APR for 12 months (17.24% – 27.99% variable APR thereafter).
Earn a $150 statement credit once you spend $500 on purchases within the first three months of opening your account with this card, as part of a limited-time promotion.
Visa® Platinum Card from U.S. Bank
This card is for whom? For people who want to finance new purchases at a competitive rate or transfer existing credit card debt, the U.S. Bank Visa® Platinum Card can be helpful. For the first 18 billing cycles of card membership, you’ll receive a 0% introductory APR on purchases and balance transfers (18.74% – 28.74% variable APR thereafter). Transfers must be made 60 days after the account is opened.
The credit card has no annual fee and a good cell phone coverage benefit but no spending rewards.
