If you carry a balance on a credit card from month to month, that balance will accrue interest. Right now, the average APR on a credit card is over 20%, which can lead to costly interest charges.
However, a 0% introductory APR card can help you save on interest while paying off existing debt or financing a large, planned purchase. Before you apply for an intro 0% APR card, be aware of the terms of your card’s introductory APR offer and have a plan to pay off your full balance before interest starts accruing again.
Best 0% introductory APR credit cards
The Active Cash’s introductory purchase APR, combined with its flat cash-rewards rate, makes it a force to be reckoned with. You can earn one of the best rewards rates on a no-annual-fee credit card for your purchases and then avoid interest charges with a 0% introductory APR on purchases for 15 months from account opening (then 20.24%, 25.24% or 29.99% variable APR). If you have any large purchases planned, this card could help limit the cost.
It also features an introductory qualifying balance transfer APR, but you’re better off using it for its purchase APR instead. If you continue to add new purchases to a transferred balance, it’ll take even longer to pay it down.
For more details, see our full review of the Wells Fargo Active Cash Card.
- Intro Balance Transfer APR
- 0% intro APR for 15 months from account opening on qualifying balance transfers
- Intro Purchase APR
- 0% intro APR for 15 months from account opening
- Regular APR
- 20.24%, 25.24%, or 29.99% Variable APR thereafter
- Balance Transfer Fee
- up to 5%; min: $5
The Active Cash’s introductory purchase APR, combined with its flat cash-rewards rate, makes it a force to be reckoned with. You can earn one of the best rewards rates on a no-annual-fee credit card for your purchases and then avoid interest charges with a 0% introductory APR on purchases for 15 months from account opening (then 20.24%, 25.24% or 29.99% variable APR). If you have any large purchases planned, this card could help limit the cost.
It also features an introductory qualifying balance transfer APR, but you’re better off using it for its purchase APR instead. If you continue to add new purchases to a transferred balance, it’ll take even longer to pay it down.
For more details, see our full review of the Wells Fargo Active Cash Card.
- Intro Balance Transfer APR
- 0% intro APR for 15 months from account opening on qualifying balance transfers
- Intro Purchase APR
- 0% intro APR for 15 months from account opening
- Regular APR
- 20.24%, 25.24%, or 29.99% Variable APR thereafter
- Balance Transfer Fee
- up to 5%; min: $5
The Chase Freedom Flex℠* has an impressive amount of earning potential for a credit card without an annual fee. It also provides an introductory 0% purchase and balance transfer APR for 15 months (then 20.49% to 29.24% variable). Its rewards will rotate quarterly and usually cover popular purchase types, including Amazon and gas stations. It also has static reward categories that never change and doesn’t need to be manually activated.
You can learn more in our Chase Freedom Flex review.
- Intro Balance Transfer APR
- 0% Intro APR on Balance Transfers for 15 months
- Intro Purchase APR
- 0% Intro APR on Purchases for 15 months
- Regular APR
- 20.49% – 29.24% Variable
- Balance Transfer Fee
- Either $5 or 5% of the amount of each transfer, whichever is greater.
The Chase Freedom Flex℠* has an impressive amount of earning potential for a credit card without an annual fee. It also provides an introductory 0% purchase and balance transfer APR for 15 months (then 20.49% to 29.24% variable). Its rewards will rotate quarterly and usually cover popular purchase types, including Amazon and gas stations. It also has static reward categories that never change and doesn’t need to be manually activated.
You can learn more in our Chase Freedom Flex review.
- Intro Balance Transfer APR
- 0% Intro APR on Balance Transfers for 15 months
- Intro Purchase APR
- 0% Intro APR on Purchases for 15 months
- Regular APR
- 20.49% – 29.24% Variable
- Balance Transfer Fee
- Either $5 or 5% of the amount of each transfer, whichever is greater.
The Wells Fargo Reflect® Card offers a very long introductory APR. Cardholders get 21 months from account opening of 0% introductory APR on purchases and qualifying balance transfers (18.24%, 24.74%, or 29.99% variable APR thereafter), so long as any transfers are initiated within 120 days from account opening.
It’s one of the longest promotional periods on the market. However, it also carries the highest possible balance transfer fee of 5% ($5 minimum).
Check out our full review of the Wells Fargo Reflect® Card.
- Intro Balance Transfer APR
- 0% intro APR for 21 months from account opening on qualifying balance transfers
- Intro Purchase APR
- 0% intro APR for 21 months from account opening
- Regular APR
- 18.24%, 24.74%, or 29.99% Variable APR thereafter
- Balance Transfer Fee
- 5%; min: $5
The Wells Fargo Reflect® Card offers a very long introductory APR. Cardholders get 21 months from account opening of 0% introductory APR on purchases and qualifying balance transfers (18.24%, 24.74%, or 29.99% variable APR thereafter), so long as any transfers are initiated within 120 days from account opening.
It’s one of the longest promotional periods on the market. However, it also carries the highest possible balance transfer fee of 5% ($5 minimum).
Check out our full review of the Wells Fargo Reflect® Card.
- Intro Balance Transfer APR
- 0% intro APR for 21 months from account opening on qualifying balance transfers
- Intro Purchase APR
- 0% intro APR for 21 months from account opening
- Regular APR
- 18.24%, 24.74%, or 29.99% Variable APR thereafter
- Balance Transfer Fee
- 5%; min: $5
BankAmericard® credit card
The BankAmericard® credit card* has a good balance transfer offer, coupled with a lower balance transfer fee than other balance transfer credit cards.
Cardholders will have an introductory 0% APR offer for purchases and balance transfers for 18 billing cycles (then 16.24% to 26.24% variable), with a balance transfer fee of 3% of the amount of each transaction.
You’ll need to make any balance transfers within the first 60 days of account opening, but you’ll have 18 billing cycles to pay it down. A 3% fee may sound painful, but it will sting far less considering how much money you’d likely spend on interest charges by letting a balance accrue interest on another card.
For more information, see our full review of the BankAmericard credit card.
- Intro Balance Transfer APR
- 0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 18 billing cycles for purchases
- Regular APR
- 16.24% – 26.24% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
The BankAmericard® credit card* has a good balance transfer offer, coupled with a lower balance transfer fee than other balance transfer credit cards.
Cardholders will have an introductory 0% APR offer for purchases and balance transfers for 18 billing cycles (then 16.24% to 26.24% variable), with a balance transfer fee of 3% of the amount of each transaction.
You’ll need to make any balance transfers within the first 60 days of account opening, but you’ll have 18 billing cycles to pay it down. A 3% fee may sound painful, but it will sting far less considering how much money you’d likely spend on interest charges by letting a balance accrue interest on another card.
For more information, see our full review of the BankAmericard credit card.
- Intro Balance Transfer APR
- 0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 18 billing cycles for purchases
- Regular APR
- 16.24% – 26.24% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
U.S. Bank Visa® Platinum Card
The U.S. Bank Visa Platinum Card is a great card for a balance transfer, with 18 billing cycles of 0% intro APR on purchases and balance transfers. (Remember you still need to make minimum monthly payments, though: 19.74% to 29.74% variable APR thereafter.) The trade-off is a lack of welcome bonus and rewards, but there’s no annual fee either.
For more details, see our full review of the U.S. Bank Visa Platinum Card.
- Intro Balance Transfer APR
- 0% intro APR for 18 billing cycles on balance transfers
- Intro Purchase APR
- 0% intro APR for 18 billing cycles on purchases
- Regular APR
- 19.74% – 29.74% (Variable)
- Balance Transfer Fee
- Either 3% of the amount of each transfer or $5 minimum, whichever is greater
The U.S. Bank Visa Platinum Card is a great card for a balance transfer, with 18 billing cycles of 0% intro APR on purchases and balance transfers. (Remember you still need to make minimum monthly payments, though: 19.74% to 29.74% variable APR thereafter.) The trade-off is a lack of welcome bonus and rewards, but there’s no annual fee either.
For more details, see our full review of the U.S. Bank Visa Platinum Card.
- Intro Balance Transfer APR
- 0% intro APR for 18 billing cycles on balance transfers
- Intro Purchase APR
- 0% intro APR for 18 billing cycles on purchases
- Regular APR
- 19.74% – 29.74% (Variable)
- Balance Transfer Fee
- Either 3% of the amount of each transfer or $5 minimum, whichever is greater
The Blue Cash Preferred from American Express is one of the most rewarding credit cards when it comes to essential purchases. Its rewards earned at U.S. supermarkets are unmatched, and it offers decent rewards at U.S. gas stations as well. Along with its top-tier rewards program, it comes equipped with an introductory 0% APR for purchases and balance transfers for 12 months (then 19.24% to 29.99% variable).
You can learn more in our Blue Cash Preferred review.
- Intro Balance Transfer APR
- 0% on balance transfers for 12 months
- Intro Purchase APR
- 0% on purchases for 12 months
- Regular APR
- 19.24% – 29.99% Variable
- Balance Transfer Fee
- Either $5 or 3% of the amount of each transfer, whichever is greater.
The Blue Cash Preferred from American Express is one of the most rewarding credit cards when it comes to essential purchases. Its rewards earned at U.S. supermarkets are unmatched, and it offers decent rewards at U.S. gas stations as well. Along with its top-tier rewards program, it comes equipped with an introductory 0% APR for purchases and balance transfers for 12 months (then 19.24% to 29.99% variable).
You can learn more in our Blue Cash Preferred review.
- Intro Balance Transfer APR
- 0% on balance transfers for 12 months
- Intro Purchase APR
- 0% on purchases for 12 months
- Regular APR
- 19.24% – 29.99% Variable
- Balance Transfer Fee
- Either $5 or 3% of the amount of each transfer, whichever is greater.
The Chase Slate Edge℠ offers a full 18 months of 0% introductory APR on both purchases and balance transfers (20.49% to 29.24% variable APR thereafter), beating out most other cards with intro APR offers. Beyond those 18 months, you’ll have the option to utilize My Chase Plan® on qualifying purchases of at least $100. With this program, you are able to spread out your payments in monthly installments for no interest -- the catch is a flat monthly fee of 1.72%. But it’s important to note that this fee can end up being very costly, on par with a higher APR if your balance remains unpaid.
See our full review of the Chase Slate Edge for more details.
- Intro Balance Transfer APR
- 0% Intro APR on Balance Transfers for 18 months
- Intro Purchase APR
- 0% Intro APR on Purchases for 18 months
- Regular APR
- 20.49% – 29.24% Variable
- Balance Transfer Fee
- Either $5 or 5% of the amount of each transfer, whichever is greater.
The Chase Slate Edge℠ offers a full 18 months of 0% introductory APR on both purchases and balance transfers (20.49% to 29.24% variable APR thereafter), beating out most other cards with intro APR offers. Beyond those 18 months, you’ll have the option to utilize My Chase Plan® on qualifying purchases of at least $100. With this program, you are able to spread out your payments in monthly installments for no interest -- the catch is a flat monthly fee of 1.72%. But it’s important to note that this fee can end up being very costly, on par with a higher APR if your balance remains unpaid.
See our full review of the Chase Slate Edge for more details.
- Intro Balance Transfer APR
- 0% Intro APR on Balance Transfers for 18 months
- Intro Purchase APR
- 0% Intro APR on Purchases for 18 months
- Regular APR
- 20.49% – 29.24% Variable
- Balance Transfer Fee
- Either $5 or 5% of the amount of each transfer, whichever is greater.
The Double Cash Card offers cardholders an impressive 18 months of 0% introductory APR for balance transfers completed within the first four months of account opening (then 19.24% to 29.24% variable). However, that offer is at odds with its primary function, which is to earn 2% cash back for every purchase (1% when you make the purchase, 1% when you pay it off).
What you could do is transfer a balance to the Double Cash, pay it off, then use it for its rewards. Most dedicated balance transfer credit cards don’t feature any rewards, which means their usefulness beyond eliminating existing debt is limited. With this card, once you pay down the balance, you’ll have a powerful cash-back credit card to use time and time again.
You can learn more in our Citi Double Cash review.
- Intro Balance Transfer APR
- 0% intro for 18 months on Balance Transfers
- Intro Purchase APR
- N/A
- Regular APR
- 19.24% – 29.24% (Variable)
- Balance Transfer Fee
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
The Double Cash Card offers cardholders an impressive 18 months of 0% introductory APR for balance transfers completed within the first four months of account opening (then 19.24% to 29.24% variable). However, that offer is at odds with its primary function, which is to earn 2% cash back for every purchase (1% when you make the purchase, 1% when you pay it off).
What you could do is transfer a balance to the Double Cash, pay it off, then use it for its rewards. Most dedicated balance transfer credit cards don’t feature any rewards, which means their usefulness beyond eliminating existing debt is limited. With this card, once you pay down the balance, you’ll have a powerful cash-back credit card to use time and time again.
You can learn more in our Citi Double Cash review.
- Intro Balance Transfer APR
- 0% intro for 18 months on Balance Transfers
- Intro Purchase APR
- N/A
- Regular APR
- 19.24% – 29.24% (Variable)
- Balance Transfer Fee
- There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening.
Bank of America® Customized Cash Rewards credit card
The Bank of America® Customized Cash Rewards credit card* gives you more control over how you earn rewards than most credit cards and provides a solid introductory APR offer.
Its intro purchase APR is likely going to be of more use here over its balance transfer opportunity, considering the card’s strong rewards. You’re able to make purchases and then pay them down at a 0% introductory APR for 15 billing cycles before the standard APR of 18.24% to 28.24% (variable) applies.
For no annual fee, you can choose to earn rewards for gas, online shopping, dining, travel, drug stores or home improvement/furnishings. Online shopping and home improvement purchases are rare bonus categories to find. However, the card is held back a bit by its spending cap, but if you’re a smaller spender, it’s certainly a viable option.
You can read more in our Bank of America Customized Cash Rewards card review.
- Intro Balance Transfer APR
- 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 15 billing cycles for purchases
- Regular APR
- 18.24% – 28.24% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
The Bank of America® Customized Cash Rewards credit card* gives you more control over how you earn rewards than most credit cards and provides a solid introductory APR offer.
Its intro purchase APR is likely going to be of more use here over its balance transfer opportunity, considering the card’s strong rewards. You’re able to make purchases and then pay them down at a 0% introductory APR for 15 billing cycles before the standard APR of 18.24% to 28.24% (variable) applies.
For no annual fee, you can choose to earn rewards for gas, online shopping, dining, travel, drug stores or home improvement/furnishings. Online shopping and home improvement purchases are rare bonus categories to find. However, the card is held back a bit by its spending cap, but if you’re a smaller spender, it’s certainly a viable option.
You can read more in our Bank of America Customized Cash Rewards card review.
- Intro Balance Transfer APR
- 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 15 billing cycles for purchases
- Regular APR
- 18.24% – 28.24% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
The Citi Diamond Preferred offers cardholders a significant amount of time to pay down a transferred balance, but it’s held back by its high balance transfer fee.
Cardholders have a solid 21 months to pay down any balance they transfer at 0% introductory APR (then 18.24% to 28.99% (variable)) but they’ll first need to pay a balance transfer fee of 5% ($5 minimum). Balance transfers must be completed within four months of account opening. The standard balance transfer fee is 3%, so you’ll end up paying a bit more with the Diamond Preferred Card than most other balance transfer credit cards.
Despite the lack of rewards, there’s also an intro purchase APR you could take advantage of to finance a large, planned purchase. However, the introductory APR on purchases is significantly shorter.
You can learn more about the card in our Citi Diamond Preferred review.
- Intro Balance Transfer APR
- 0% for 21 months on Balance Transfers
- Intro Purchase APR
- 0% for 12 months on Purchases
- Regular APR
- 18.24% – 28.99% (Variable)
- Balance Transfer Fee
- Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
The Citi Diamond Preferred offers cardholders a significant amount of time to pay down a transferred balance, but it’s held back by its high balance transfer fee.
Cardholders have a solid 21 months to pay down any balance they transfer at 0% introductory APR (then 18.24% to 28.99% (variable)) but they’ll first need to pay a balance transfer fee of 5% ($5 minimum). Balance transfers must be completed within four months of account opening. The standard balance transfer fee is 3%, so you’ll end up paying a bit more with the Diamond Preferred Card than most other balance transfer credit cards.
Despite the lack of rewards, there’s also an intro purchase APR you could take advantage of to finance a large, planned purchase. However, the introductory APR on purchases is significantly shorter.
You can learn more about the card in our Citi Diamond Preferred review.
- Intro Balance Transfer APR
- 0% for 21 months on Balance Transfers
- Intro Purchase APR
- 0% for 12 months on Purchases
- Regular APR
- 18.24% – 28.99% (Variable)
- Balance Transfer Fee
- Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
Bank of America® Travel Rewards credit card
With no annual fee, the Bank of America® Travel Rewards credit card* is a great starter travel credit card.
There aren’t any foreign transaction fees, which will essentially save you 3% of each transaction you make abroad. And if you use it for a planned trip, you can pay the trip off at 0% introductory interest for 15 billing cycles before the standard APR of 18.24% to 28.24% (variable) kicks in.
There’s also a balance transfer offer for the same time period for any transfers made within 60 days of account opening (with a fee of 3% of the amount of each transaction). It doesn’t offer many travel amenities like travel cards at a higher price-point, but it’s a good card to use before moving on to more advanced credit cards.
Learn more in our Bank of America Travel Rewards card review.
- Intro Balance Transfer APR
- 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 15 billing cycles for purchases
- Regular APR
- 18.24% – 28.24% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
With no annual fee, the Bank of America® Travel Rewards credit card* is a great starter travel credit card.
There aren’t any foreign transaction fees, which will essentially save you 3% of each transaction you make abroad. And if you use it for a planned trip, you can pay the trip off at 0% introductory interest for 15 billing cycles before the standard APR of 18.24% to 28.24% (variable) kicks in.
There’s also a balance transfer offer for the same time period for any transfers made within 60 days of account opening (with a fee of 3% of the amount of each transaction). It doesn’t offer many travel amenities like travel cards at a higher price-point, but it’s a good card to use before moving on to more advanced credit cards.
Learn more in our Bank of America Travel Rewards card review.
- Intro Balance Transfer APR
- 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 15 billing cycles for purchases
- Regular APR
- 18.24% – 28.24% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
Bank of America® Unlimited Cash Rewards credit card
The Bank of America® Unlimited Cash Rewards credit card* keeps it simple. Make your purchases with the card to earn 1.5% cash back. If you have any planned trips or large purchases coming up, you can charge it to the card and pay it down at 0% introductory APR for 15 billing cycles, then 18.24% to 28.24% (variable).
The same offer applies to any balance transfers made within 60 days of account opening, with a balance transfer fee of 3% of the amount of each transaction. It’s an inexpensive option for general spenders looking to either mitigate credit card debt or avoid interest charges on a planned purchase.
- Intro Balance Transfer APR
- 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 15 billing cycles for purchases
- Regular APR
- 18.24% – 28.24% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
The Bank of America® Unlimited Cash Rewards credit card* keeps it simple. Make your purchases with the card to earn 1.5% cash back. If you have any planned trips or large purchases coming up, you can charge it to the card and pay it down at 0% introductory APR for 15 billing cycles, then 18.24% to 28.24% (variable).
The same offer applies to any balance transfers made within 60 days of account opening, with a balance transfer fee of 3% of the amount of each transaction. It’s an inexpensive option for general spenders looking to either mitigate credit card debt or avoid interest charges on a planned purchase.
- Intro Balance Transfer APR
- 0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 15 billing cycles for purchases
- Regular APR
- 18.24% – 28.24% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
Another balance transfer opportunity
Discover it® Balance Transfer
- Intro offer: All cash back earned at the end of your first 12 months will be matched
- APR: 17.24% to 28.24% variable.
- Intro purchase APR: 0% for the first six months
- Intro balance transfer APR: 0% for the first 18 months
- Recommended credit: Good to excellent
- Rewards rates: 5% cash back after activation on rotating categories each quarter (up to $1,500 in quarterly purchases, then 1%), 1% for all other purchases
- Annual fee: $0
For no annual fee, the Discover it® Balance Transfer* card also provides cardholders with a competitive opportunity to mitigate some of their existing credit card debt.
Cardholders will have an intro 0% APR for 18 months to pay down a transferred balance (then 17.24% to 28.24% variable.) with an intro balance transfer fee of 3% -- though this may reach up to 5% fee on future balance transfers (see terms).
Pros and cons of introductory 0% APR credit cards
Pros
Avoid interest charges for a set amount of time
Get rid of some existing credit card debt
Finance a large, planned purchase
Cons
Certain balance transfer cards have limited long-term value
Most options are recommended for good to excellent credit
Balance transfer cards typically charge a balance transfer fee
What experts are saying about 0% APR credit cards
Introductory APR offers -- whether they focus on balance transfers or new purchases -- can be very useful, especially during a time when interest rates are soaring.
“If you do need to consolidate some higher rate credit card debt, or if you want to finance a big purchase over several months, there are some good offers out there, despite the fact that interest rates are now much higher than they were a couple of years ago,” credit expert Gerri Detweiler said.
According to credit expert Julia Menez, you’ll just want to have a payoff plan ready to go. “0% APR cards can be useful for financing a large planned purchase, but just make sure you have planned how to pay off the balance once it comes due,” she said.
And while these promotional periods have their uses, according to credit expert Shonda Martin, it’s important to keep a few things in mind.
“The most important thing to pay attention to is that it’s usually time limited,” Martin said. “Pay attention to when [your promotional period] expires because a lot of people will see 0% interest and think it’ll last forever.”
And once that period ends, your credit card will begin accruing interest at its standard rate, which is much higher than 0%. However, even after your intro offer ends, Martin said you can still avoid interest charges.
“As long as you pay back whatever you’ve spent within the 30 days that you’ve spent it, you never have to pay interest on your credit cards.”
When it comes to balance transfer offers, it’s important to have all the facts. Especially when it comes to the fees that are involved, said credit expert Beverly Harzog.
“When you transfer [a balance, remember] to include the transfer fee,” she said. “Most cards [charge] 3% to 5% of the amount that you’re transferring. So you need to factor that into the amount you have to pay back.”
The balance transfer fee is automatically added to the full balance you’ll be responsible for paying. When you’re trying to figure out how much you’ll need to pay each month in order for the balance to reach 0% by the end of the promotional period, remember to account for the balance transfer fee.
Depending on the size of the transferred balance, it could affect how much you’re able to allocate toward it each month.
How to choose a 0% APR credit card
The most important feature to pay attention to when choosing a credit card with an introductory APR is the length of its APR offer. You’ll want to be sure you have enough time to pay off the transferred balance or large, planned purchases before it begins to accrue interest again.
A good way to find out if you’ll have enough time is to take the balance or purchase amount and divide it by the number of months you’ll have to pay it down. Compare that with your expected income and other expenses in the upcoming months. You want to make sure there’s enough room in your projected cash flows to cover the payments from the 0% APR card once they come due.
Let’s say you plan to transfer a balance of $3,000 and have 18 months to pay it down. Three thousand divided by 18 is about 167. That means you’ll need to be able to pay at least $167 each month to pay down the balance in time.
You should also consider the fees that come with the card. Initiating a balance transfer typically requires you to pay a one-time balance transfer fee. There are credit cards without a balance transfer fee, but they usually don’t have as generous terms as balance transfer cards that do.
The industry standard balance transfer fee is about 3% -- if a card charges more than this, it likely isn’t the best choice. That said, paying a one-time fee will generally cost far less than paying continuous interest charges at a high APR.
For the most part, balance transfer credit cards don’t have many other perks, so consider pairing one with a rewards credit card, travel credit card or cash-back credit card. However, if you’re using a balance transfer card to repay debt, we recommend focusing on your debt before worrying about earning rewards. This can help you stay focused on your financial goals and avoid accumulating new debt in the process.
Types of credit card APRs
Credit cards have five different types of APRs. There’s the standard purchase APR, a balance transfer APR, a penalty APR, a cash advance APR and an introductory APR. Not all cards will have all these APRs, and you can find the details of your specific card’s APRs in the cardholder agreement.
The one you’ll likely deal with the most is the purchase APR, which determines the rate at which the purchases you make accrue interest. The second most important is the balance transfer APR. That applies to any balance you transfer from another card. Both of these categories can be impacted by an introductory APR offer which typically drops one or both to 0% for a number of months.
The introductory APR is a promotional offer that usually runs from nine to 21 months, depending on the card. During this time, your new purchases, a transferred balance or both won’t accrue any interest. After the 0% introductory APR period expires, your balances will be subject to the regular APR.
The penalty APR only applies if you miss a credit card payment and it’s typically higher than the card’s regular purchase APR. Your new purchases following the missed payment will accrue interest at the penalty rate. If you miss two payments, the higher APR will also be applied to your current statement balance. You’ll also be responsible for late fees.
A cash advance APR applies to a cash advance you take out against your line of credit and is typically higher than the card’s standard purchase APR. A cash advance usually isn’t worth it because of the high APR and the large fee it requires to do so.
Most APRs are variable, which means the rate may change. Changes to a variable APR occur because it’s tied to the prime rate -- the interest rate banks charge their most creditworthy customers. The prime rate is affected by economic conditions, including changes to the federal funds rate set by the Federal Reserve. Your individual APR might also vary depending on your creditworthiness.
Is a 0% APR right for you?
If you’re struggling with credit card debt, an introductory 0% balance transfer APR could alleviate some of that pressure. Even if there is a balance transfer fee, it’ll be worth the cost when you consider your savings on interest charges.
If you have a planned, large purchase coming up and don’t have enough saved up to pay for it in cash, using an intro 0% purchase APR can let you finance it without racking up interest charges. Just be sure you can pay off the balance before the introductory APR period ends.
How to make the most of your 0% APR credit card
Use a 0% introductory APR card to mitigate credit card debt or to finance a planned purchase, but don’t let an introductory purchase APR encourage you to make any unnecessary purchases you otherwise wouldn’t have. And using a card for new purchases while trying to pay down a balance isn’t advised, as it’ll just take longer to pay it off.
Choosing a balance transfer credit card that offers rewards can be a good way to ensure lasting value once its promotional period ends. Closing credit cards can hurt your credit score and some issuers will close your card automatically if you go too long without using it, so a balance transfer card that can turn into your everyday rewards card once you’re done with the 0% intro APR offer can be a good pick.
You should always aim to make your payments on time with any credit card -- even if it’s just the minimum payment -- but it’s especially important when you’re taking advantage of a 0% introductory APR offer. In addition to late fees and other consequences, missing a payment could also cause you to lose your introductory APR period, as will violating any terms of your credit card agreement.
Should you get a 0% APR credit card or a debt consolidation loan?
A 0% introductory APR balance transfer credit card is a great way to get rid of existing credit card debt, but it’s not the only way. Balance-transfer credit cards generally require good to excellent credit scores for approval, which means you typically need a FICO score of at least 670 to qualify.
Introductory balance-transfer offers also might not offer enough time to pay down a balance, depending on your balance amount and how much money you’re able to allocate to it each month.
A debt-consolidation loan presents another option. They can have lower credit requirements and provide greater time -- up to seven years -- for you to pay them off. And while it won’t be set at 0% interest, it will typically be much lower than the standard APR on a credit card. If you need more time to pay off a debt or can’t qualify for a balance-transfer card, a debt-consolidation loan could provide some relief.
How to apply for a 0% APR credit card
Follow these steps to apply for a 0% introductory APR credit card:
- Find the card that fits your needs. Whether to help finance a purchase or pay down existing credit card debt, choose a card that offers enough time to pay off your balance before the introductory APR period ends. And make sure that the 0% introductory APR offer applies to the type of transaction -- new purchases or balance transfers -- you’re making.
- Apply securely on the credit card issuer’s website. Take your time and provide the necessary financial and personal information. Any mistakes could result in a pending credit card application or denial.
- Initiate a balance transfer as soon as possible. Certain cards only offer the intro APR or intro balance transfer fee so long as you make any transfers within the first 60 to 120 days. Check your cardholder agreement for the details of your specific card’s offer.
- Pay off the balance within the given time limit. If you don’t, your balance will begin to accrue interest at the variable rate.
The bottom line
A credit card with an introductory 0% APR lets you avoid interest charges for a certain amount of time, which can give you some flexibility as you pay down a large balance from either a new purchase or a balance transfer of existing debt.
However, don’t let an introductory purchase APR entice you into overspending, and make sure you can pay down your full balance within the given time frame. Remember to keep your card open after the introductory APR period ends to avoid any damage to your credit score from closing an old credit account. Finding a 0% introductory APR card that also offers good cash-back rewards is a great way to get ongoing value from the card.
FAQs
If you miss a payment, pay late or void your credit card agreement, the issuer could revoke your introductory APR. Check your cardholder agreement for details about the terms and conditions of your specific card’s offer.
Certain credit cards, like the Chase Slate Edge, may not allow you to extend the introductory 0% APR period but may lower the card’s regular APR if you meet certain conditions. Mostly, once your intro offer is up, there is no way to extend it. You can, however, apply for a different credit card with another balance transfer offer if your circumstances allow.
Like with any other credit card, missing a credit card payment will damage your credit score. However, a balance transfer credit card could help improve your credit score by eliminating your credit card debt. Getting rid of credit card debt will decrease your credit utilization. A lower credit utilization contributes to a healthier credit score.
Yes, you can have multiple credit cards with a 0% APR offer.
The longest 0% APR offer period is 21 months.
Credit card APRs are determined by the federal benchmark interest rate set by the Federal Reserve, economic factors and your creditworthiness. So an APR your friend gets might not be the same as your own, depending on your income, credit score and other factors. Check out our article about good current credit card APRs for more details.
Generally speaking, it’s easier to qualify for a 0% APR credit card if you have good/excellent credit. Credit card issuers are losing out on money from interest charges by offering a 0% APR, so issuers typically want to be sure you’re responsible enough to pay off the debt.
Our methodology
CNET reviews credit cards by exhaustively comparing them across set criteria developed for each major category, including cash-back, welcome bonus, travel rewards and balance transfer. We take into consideration the typical spending behavior of a range of consumer profiles -- with the understanding that everyone’s financial situation is different -- and the designated function of a card.
Other credit cards we tested
Not every card made the list. Here are some of the credit cards we tested that didn’t make the cut:
- Capital One Quicksilver Cash Rewards Credit Card
- Discover it® Cash Back
- Citi Custom Cash® Card
- Bank of America® Customized Cash Rewards credit card
More credit card recommendations
- Best Airline Credit Cards
- Best Secured Credit Cards
- Best Business Credit Cards
- Best Student Credit Cards
- Best Travel Credit Cards
- Best Credit Cards With No Balance Transfer Fees
For rates and fees of the Blue Cash Preferred Card from American Express, click here.
*All information about the Chase Freedom Flex, BankAmericard credit card, Bank of America Customized Cash Rewards credit card, Bank of America Travel Rewards credit card, Bank of America Unlimited Cash Rewards Credit Card and the Discover it Balance Transfer has been collected independently by CNET and has not been reviewed by the issuer.
The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.
