A credit card can be extremely useful. It makes your life a lot easier, especially for quick tap
purchases or shopping online. However, a credit card can also cost you plenty of extra money in
interest charges if you don’t keep the balance paid off. With your standard credit card APR
anywhere from 15% to 27%, carrying a balance could cost you hundreds (or thousands) of
dollars every year.
Luckily, there are a number of credit cards that offer 0% APR when you first open them. Most
offer this no-interest period for at least a year, and some go even longer. Just remember that
when this bonus offer eventually ends, the interest rates could quickly add up if your balance
isn’t all paid up. Here are our picks for the best 0% purchases APR credit cards.
Wells Fargo Active Cash
The Wells Fargo Active Cash credit card is a pretty solid credit card, even without the 0% APR
introductory offer. It boasts unlimited 2% cash back on all purchases and has a $200 welcome
bonus (for $1,000 spending in the first 90 days). It also has no annual fee and includes $600 of
cell phone protection insurance.
The 0% purchase APR applies to all spending for the first 15 months. (Balance transfers made
within the first 120 days also qualify). When the intro period ends, the APR converts to a 18, 23,
or 28% APR, depending on your creditworthiness. Even then, it’s still a credit card with a decent
enough value to keep using.
AmEx EveryDay Credit Card
Like the Wells Fargo Active Cash card, the American Express EveryDay card is a perfectly
useful credit card to keep in your wallet. It has a decent rewards program, no annual fee, and a
standard APR range.
The 0% purchase APR (and balance transfer APR) period lasts 15 months. After that, it
switches to a 16 to 27% variable rate. If you use your card at least 20 times per billing period,
you can earn 20% more reward points. However, if you find yourself using your card that often,
you may want to consider the AmEx EveryDay Preferred credit card instead. It comes with a
$95 annual fee, but the rewards are much more valuable and easy to earn.
Capital One VentureOne Rewards Card
Like the other cars listed so far, the Capital One VentureOne Rewards card offers a 0% APR for
15 months on both purchases and balance transfers. After that, it converts to a standard 18 to
29% APR, depending on your credit score and history.
If you decide to stick around and keep using the card once the 0% APR period expires, you’ll be
treated to a decent rewards program without having to pay any annual fee. You’ll earn 20,000
bonus miles if you spend $500 in the first three months (approximately $200 in value). After that,
you’ll earn 1.5X miles on every dollar. They never expire and there’s no limit on redemption.
If you book travel through Capital One Travel, you’ll earn rewards even faster. If you travel a lot,
though, there are cards better suited to frequent trips. If you only travel occasionally, the Capital
One VentureOne Rewards card will do the trick.
Discover it chrome
The Discover it chrome card (yes, it’s purposely spelled with a lowercase) is pretty standard,
with one important exception. The 0% APR on purchases lasts for 15 months, there’s no annual
fee, and the cash back rate is middle of the road.
The most attractive feature, for sure, if the Cashback Match that Discover offers. At the end of
your first year, they will match every dollar of cash back you earned. That instantly doubles your
reward amount.
You can earn those dollars by getting 2% back on gas and restaurant purchases, with all other
purchases netting you 1% back. It’s not the most generous rewards offer on the market, but it
can still be useful – especially when combined with the 0% introductory APR offer.
Chase Freedom Unlimited
Last but not least is the Chase Freedom Unlimited credit card. It matches all the others on our
list with a 15-month introductory period of 0% APR. That rate applies to both purchases and
balance transfers (but watch out for balance transfer fees). After that, it converts to a standard
17.24% to 25.99%.
The Chase Freedom card doesn’t have an annual fee, which is made even better by a generous
welcome offer. You can earn an additional 1.5% back on everything you buy in the first year, up
to $20,000. That’s a potential $300 cashback bonus! There’s no minimum cash back redemption
amount and the money never expires (as long as the account is open).
Additional reward earning potential can be earned on travel through Chase Ultimate Rewards
(6.5%), drugstores and dining (4.5%), and everything else (3%). Those rates reduce slightly if
you hit $20,000 in spending annually.
Citi Diamond Preferred Card
Not only does the Citi Diamond Preferred card offer 21 months of 0% APR on balance transfers,
but it also boasts a 12-month 0% APR introductory period for all other purchases too. That’s a
generous term of not charging any interest.
With no annual fee and a regular APR between 16% and 27% (after the first year), the Citi
Diamond Preferred card is an excellent choice to save on interest. However, there is a balance
transfer fee of 5% or $5 (whichever is higher). You can somewhat balance that out by earning
the $150 welcome bonus, by spending $500 in your first three months.
Once the 0% APR periods are over, you may want to consider switching cards. This card
doesn’t offer a rewards program of any kind and has a steep 29.99% penalty APR for late
payments. It’s great for balance transfers, but maybe not much else.
