Author: David King
A credit card with an initial 0% APR provides a promotional window with no interest to any transactions or balance transfers. After the initial interest-free period expires, new purchases and any outstanding debt are subject to the standard interest rate.
To help you make the right decision with credit cards, here are some of our top recommendations for 0% APR cards:
1. Wells Fargo Active Cash Card
The Wells Fargo Active Cash Card offers 2% cash back on purchases. The card is our best option in this group because it also has a strong 0% APR offer. Furthermore, it competes with the top flat-rate cash-back cards currently available.
Starter APR Offer: A 0% starter APR on purchases, and eligible balance transfers for 15 months after account activation. Afterward, a variable APR of 16.49%, 21.49%, or 26.49% will be applied. Balance transfers conducted within 120 days are eligible for the introductory rate and fee of 3%; then, a fee of up to 5 percent, with a minimum of $5, is applied.
Balance transfer charges: up to 5%; minimum of $5
Setback and Rewards: Although there aren’t many extra rewards, that’s not the goal of the card. Those who only want to rely on cash back and don’t require other perks should use this card.
2. Capital One VentureOne Rewards Credit Card
The Capital One VentureOne Rewards Credit Card can be enough for people who don’t like yearly fees or other gimmicks. The card offers considerable value in addition to the plethora of features with most Capital One cards.
Intro APR offer: Purchases and balance transfers are subject to a 15-month introductory APR of 0%. The APR ranges from 16.49% to 26.49% variable, and a 3% fee will be applied to all transfers within the first 15 months.
Annual fee: $0
Setback and Rewards: Although not as rewarding as its larger counterpart, the card’s appeal may come from its introductory 0% APR offer. The absence of an annual fee and the transferring miles to eligible partner airline and hotel programs.
3. Chase Freedom Flex
Chase Freedom Flex can handle almost all your credit card spending requirements without incurring high costs. The card comes with a beefed-up earnings system that encompasses a broad range of spending in addition to a substantial rewards structure and has no annual fee.
Intro APR offer: Purchases and balance transfers are eligible for a 15-month introductory APR of 0%. Then, a variable APR ranging from 16.49 percent to 25.24 percent takes effect. The initial balance transfer cost is $5 or 3% of every transfer’s value for the first 60 days, whichever is larger. After that, the price is $5 or 5% of each transfer’s value, whichever is bigger.
Fee for balance transfers: $5 or 5% of each transfer’s value
Pros and cons: The card’s advantages make it worthwhile even after the expired promotional deal. However, other cards have longer 0% APR periods, which can be more advantageous to you in the near term.
4. Wells Fargo Reflect Card
Anyone wishing to consolidate debt or spread payments for a new sizable purchase will find the Wells Fargo Reflect Card helpful. This card’s extended introductory offer on new purchases and qualified balance transfers is its key selling factor—no annual fee.
Intro APR offer: Get 0% introductory APR on purchases and qualified balance transfers starting at account opening for 18 months. Variable APR ranging from 14.49 to 26.49 percent is in effect. On-time minimum payments made during the intro and extension periods are possible.
Balance Transfer Fee: Minimum $5, maximum 5%
Downsides and Rewards: This card’s appeal is restricted after the sale period because it doesn’t provide any advantages. However, the card does include phone insurance. When you settle your wireless bill with the card (up to a $25 fee), you can get insurance for lost and broken devices for roughly $600 per claim. Two claims are the maximum allowed each year.
5. U.S. Bank Visa Platinum Card
The U.S. Bank Visa Platinum Card is among the best choices if you want the longest runway available to pay off a large purchase or current debt. The primary event and key reason you should think about this card are the extremely long 0% intro APR balance transfers and purchases.
Annual fee: No annual fee
Intro APR Offer: Get a 0% introductory APR on purchases and balance transfers for 20 billing cycles. Then, a variable APR of 15.99 percent to 25.99 percent will apply. Depending on whatever is higher, there is a balance transfer charge of either 3% or $5.
Rewards and downsides: The card has no rewards program. However, it offers coverage for damage or loss cellphones of up to $600 with a $25 deductible. This applies for up to two claims every calendar year if you use it to pay your monthly cellphone bill.