
Sign up & start saving!
Get our weekly newsletter for the latest in money news, credit card offers + more ways to save
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.
Updated
When looking for a new credit card, keep an eye out for a 0% intro APR offer. This may not seem as enticing as earning rewards on your purchases, but with the right card in the right situation, this can be a valuable perk to have.
A credit card with a 0% intro APR period lets you carry your balance without paying interest for a specific amount of time — often between six and 21 months from account opening. Once the intro period ends, the standard interest rate will apply.
Note: Even though you can carry your balance without interest, you still have to make at least the minimum payment before the due date.
There are two types of 0% APR offers: 0% APR on purchases and 0% APR on balance transfers. You’ll often find credit cards that offer both, but some credit cards may offer only one of the two.
A 0% APR on purchases means you won’t be charged interest when you carry a credit card balance during a promotional period. Consider this an interest-free loan that can last anywhere between six and 20 months from the day you open your account. It’s most common to get a 0% APR period on purchases for 12 to 15 months.
Cards with a 0% APR on purchases are ideal for anyone looking to make a large purchase, say buy expensive electronics or some minor home renovations. That way you can make the purchase now and pay it off without interest for a year or more.
A 0% APR on balance transfers is a credit card perk that lets you move debt from another account and pay it off without interest for a promotional period. You’ll often find 0% APR balance transfer offers that last between 12 and 15 months, but some cards offer up to 21 months.
This is almost a two-year interest-free loan to help you pay off your existing debt. Because of that, a 0% APR balance transfer credit card can be an excellent choice for anyone trying to get out of debt.
There are several credit cards that offer a 0% APR period on purchases and balance transfers. Most of these cards come with reward programs, which makes them even more useful.
It depends on the card. However, most credit cards that offer either 12 or 15 months of 0% intro APR period on purchases, balance transfers or both, typically come with a rewards program.
You’ve probably seen 0% deferred interest offers with many store credit cards. This may sound the same as a 0% intro APR period, but it’s not. With deferred interest, you must pay off your full balance before the promotional period ends.
If you have any unpaid balance after that, you’ll pay interest accrued from the day you made the purchase. This is not the case with a 0% intro APR card as you’ll start to accrue interest only on your unpaid balance.
After the 0% APR period ends, the standard interest rate starts to apply. If you have any unpaid balance that you made during the 0% APR period, it will now start to accrue interest.
If you’re looking to make a large purchase or pay off your existing debt without paying interest, consider a 0% APR credit card. A variety of cards offer this perk, so make sure you compare all 0% APR credit cards until you find the right fit for your situation.
Acorns alternatives offer lower fees and more investment options. Learn more.
Prepare to revamp your asset allocation and explore new investment classes.
Compare pros and cons of selling on Poshmark vs. Tradesy to help you get the most for your secondhand clothing, shoes and accessories.
Sephora regulars get to earn rewards on their purchases.
See how much interest you could earn with a savings account from Capital One.
Help your child learn to spend and save wisely with a virtual, COPPA-compliant debit card.
If you’re looking for a trading platform similar to Interactive Brokers, consider these five options.
A health savings account (HSA) can help you get prepared for your retirement. Learn more.
Take advantage of miles, points and perks with a card that best fits your lifestyle.