Best 0% Intro APR Credit Cards
Imagine waking up one morning to find out your dishwasher had stopped working. Depending on the cost to fix, it might make more sense to purchase a brand new one. If you don’t have an emergency fund saved up, it could leave you scrambling for a way to pay for it. Many times it leaves people with no other option but to pull out a high interest credit card and charge it.
Instead of using a card that might have an interest rate pushing 20%, a better option would be to apply for a new credit card that offers an introductory 0% APR on purchases. This will give you the time to pay off your purchase without incurring high finance charges. Here are some of our favorite credit cards that offer an introductory 0% APR on purchases.
Citi Simplicity® Card
There are a lot of cards available that can offer 0% APR on purchases, however, not many do it with a time horizon as long as the Citi Simplicity® Card from Citi, a Credit Cards House advertiser. With an 21-month introductory period, this is one of the best cards for receiving 0% APR on balance transfers. This card would give you almost two years to pay off a balance transfer without having to pay interest.
After the introductory period is over, the APR will change to 18.24% - 28.99% (Variable) depending on your creditworthiness. Other than paying a balance transfer fee of 5% or $5 (whichever is greater), and a foreign transaction fee if you travel abroad, Citi has eliminated the fees from the Citi Simplicity® card. There is no annual fee, no late fees, and no penalty APR if you are late on a payment.
Another card that will offer a long introductory 0% APR period is the Chase Slate®. While it might not match the 18 months of the Citi Simplicity®, it does offer 0% for the first 15 months. Once the introductory period is over, the APR will change to a variable 16.49%-25.24% depending on your creditworthiness.
In addition to no interest, there are a couple of other valuable benefits to this no annual fee card. It will give you the ability to track your FICO credit score for free each month. Plus, if you are looking to transfer a balance from another card, you can do so with no balance transfer fee and the same 0% APR for 15 months.
Chase Freedom Unlimited®
In addition to receiving an introductory 0% APR, are you also interested in earning rewards with your purchase? Earlier in 2016, Chase announced the release of the Chase Freedom Unlimited® card. With this card, you receive 0% APR on purchases for the first 15 months that you are a cardholder. After the introductory period is over, the rate will change to a variable 19.24%-27.99% depending on your creditworthiness.
When you sign up for the Chase Freedom Unlimited® card, you will receive a $150 bonus after spending $500 within the first 3 months of opening your account. In addition, you will receive 1.5% cash back on every purchase that you make with your card. Not bad for a card that doesn’t have an annual fee.
Blue Cash Everyday® Card from American Express
Editorial Note: The information related to Blue Cash Everyday® Card from American Express has been collected by Credit Cards House and has not been reviewed or provided by the issuer of this card.
One of the best overall credit cards available from American Express, a Credit Cards House advertiser, is the Blue Cash Everyday® Card. With this card you will receive 0% APR on purchases for the first 15 months that you are a cardholder. After that, it will become a variable 18.49% - 29.49% APR depending on your creditworthiness.
When you apply for this no annual fee card, you will receive a $150 statement credit after spending $1,000 within the first 3 months. In addition, there is great earning potential with the Blue Cash Everyday® Card from American Express. You will also receive 3% cash back at U.S. supermarkets (up to $6,000 in purchases per year), 2% back at U.S. gas stations and select department stores and 1% on everything else.
The Bottom Line
If you are planning to make a big purchase in the near future, then using a credit card with 0% APR on purchases is a great option for you. It will help increase the amount of time you have to pay off the purchases before you risk paying finance charges.
Editorial Note: The information related to Chase Slate® has been collected by Credit Cards House and has not been reviewed or provided by the issuer of this card.
First published , last updated
Editorial Note: Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.