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Compare 0% APR Credit Cards
Pay no interest on purchases or balance transfers.
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Credit cards with 0% APR charge no interest on certain balances for a period of time, making them a useful option for purchases you plan to pay off before the intro period ends. But the 0% intro APR won’t last forever, so it’s a good idea to choose a card with long-term rates and rewards that work for your goals. Use our table to compare your options and find the right fit.
How does 0% APR work?
A 0% APR credit card offers no interest on certain balances for a period of time. This can apply to purchases, balance transfers or both. Of course, the 0% intro APR doesn’t last forever: After it expires, your remaining balance will accrue interest at a higher, standard APR.
Types of 0% APR credit cards and how they work
You have two main types of 0% APR credit cards to choose from: purchases and balance transfers.
Purchase 0% APR cards
When you buy something with your card during the intro APR period, it won’t accrue interest until your promotional interest rate expires.
Balance transfer 0% APR cards
A balance transfer card lets you move existing debts over to your new card and then pay off that debt over an interest-free period.
Cash Advance 0% APR cards
These cards give you a set period of time before your cash advance begins accruing interest. These are exceedingly rare. In fact, only the RBFCU CashBack Rewards Mastercard offers one as of February 2021.
How much can I save on interest with a 0% APR card?
Many people don’t realize how much money they spend on credit card interest. The following table shows the interest you can save on a $2,500 balance with a 0% APR product.
| Credit Card A | Credit Card B | Credit Card C | |
|---|---|---|---|
| Purchase balance | $2,500 | $2,500 | $2,500 |
| Purchase APR | 0% | 14.99% | 22.99% |
| Repayment period | 15 months | 15 months | 15 months |
| Monthly payment | $167 | $184 | $193 |
| Interest Paid | $0 | $257 | $401 |
Be careful with balance transfers
With most cards, your balance transfers only qualify for the intro APR if you make them within a certain time. Transfers you make after that will accrue interest at the normal APR.
How to compare 0% APR credit cards
You have a few key features to examine when determining which 0% APR credit card is right for you.
What to do when a 0% intro period ends
If you still have a balance on your card and your intro APR will expire soon, you have a few options. For more information, read about what happens when an intro APR period ends.
- Let your balance start accruing interest at the normal rate. If your balance isn’t too high, you might not mind your intro APR expiring before you’ve paid off your debt. Consider making a solid plan to pay off your balance so you don’t pay too much interest.
- Make a balance transfer. You may be able to get a 0% intro APR balance transfer card, which could help you pay off your balance with lower interest. If you do this, however, consider whether you’re making progress toward paying off your debt — or if you’re just shuffling it around.
Card providers are unlikely to approve you for a balance transfer card if your credit utilization ratio is very high. They’ll be wary of taking you on as a customer if they think you’re drowning in debt. - Take out a personal loan. If you don’t want to deal with another card but you want a lower interest rate on your balance, consider a personal loan. You could get an APR that’s substantially better than your credit card’s normal APR.
Bottom line
Getting a 0% APR credit card can be a smart move for certain purchases, and it can be helpful if you need a lower interest rate on existing debt. However, be careful with it — your card provider is hoping you won’t pay off your balance by the time your 0% intro APR ends.
To avoid this, know precisely what you’ll use your card for. Then make a plan to pay off your debt before your 0% intro APR expires.
If you think you’ll carry a balance for a long time, consider a low-interest rate credit card.
Frequently asked questions
- Do I still need to make payments during my 0% intro APR period?
Yes. One of the biggest misconceptions about a 0% intro APR period is that you don’t have to make payments. You’ll need to make at least the minimum payment each month to avoid late fees and potentially losing your promotional interest rate. - If I make a purchase during the 0% intro balance transfer period, what interest am I charged?
You’ll be charged the card’s standard interest rate on purchases made on a balance transfer card. It’s best to pay off any transferred debts before you start spending on your balance transfer card to keep yourself from accidentally incurring interest on your card. .
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Hi Toni!
Thanks for contacting finder – the leading comparison website & general information service built to give you advice in your buying decision needs.
Yes, you can cancel the card and transfer to a cheaper one after a promotional period. However, you may have to contact your bank how to go about this before your promotional period ends to make sure there is no balance left on the card.
Please note that we’re a product comparison website and we hold no affiliation with any company we feature on our site. We provide general information on products to assist you in your buying decision process hence we cannot recommend product / service that is rightfully fit for you.
Hope this helps!
Best regards,
Nikki