Zero Percent APR Credit Cards

Annual percentage rate or APR is the interest rate that an individual has to pay on the credit card balance every month. With 0 APR this month to month interest is essentially zero, so turns out that you do not pay any interest on your credit card borrowing. However, most of the credit card companies which offer these 0 APR deals they offer it only for finite period of time. If you are smart you can take advantage of this and actually save money and tide over financial crisis.

Another tip is to always pay little more than minimum payment every month and certainly before the due date. 0 percent APR cards are double edged sword, they are good and bad. It all depends on financial wisdom of an individual. I know few individuals who actually borrowed money on 0 APR cards and invested in homes or stocks and made money but I strongly advise not to do so as risks are much higher in current economy. Last few years we had seen boom in stocks and housing market but it is no longer the case.

Those people that transfer large balances tend to wind up with a higher interest rate than they would have if they had stuck with an older credit card. How can you avoid this, Look for credit cards that offer 0% APR on balance transfers for up to one year. In addition, make sure to do the math - does it really pay to switch that card,

If you really want to get rid of one card, and switch your balance to another card, then try to pay off that balance during the introductory period. This is why a longer introductory period is important - it gives you more time to pay off your debt. Make sure that you understand all of those terms that go along with a 0% APR on balance transfers offer.

Ask what your interest rate will be once the introductory period has ended. Try and figure out if making the switch is worthwhile. If you aren't sure, take the time to do a bit of number crunching. It almost never pays to transfer a balance, but sometimes this can work in your favor. The trick to understanding credit cards is exactly that - understanding them. Ask questions, call the help line, read the fine print, and always know what you are doing before you wind up with mounds of credit card debt.

Flexible rewards are a busy traveler’s best friend, and the Bank of America Travel Rewards credit card punches far above its weight in this category. 1 and can be redeemed for travel-related statement credits, making this a powerful travel credit card for cardholders searching for cheap deals using their preferred booking portal. 0 annual fee, and importantly, a 0% intro APR for 12 billing cycles for purchases -- a rarity among travel credit cards. Read our full Bank of America Travel Rewards review to learn more.

Pros: Chase's new Freedom Unlimited card is essentially an improved version of the old Freedom. They bumped the base cash back rate all the way up to an industry leading 1.5%, and pay that full 1.5% on all spend, with no limit or spend category restrictions. Unlike most other high paying cash back cards, you don't have to worry about categories or have to activate anything.

You'll receive the full 1.5% back as you make your spend, on all spend, automatically. In addition, Chase is temporarily offering a cash bonus to new card-members. 150 cash bonus. Finally, Chase is also offering new card-members 15 months of 0% Intro APR interest for the first 15 months of using the card to make new purchases. So during that period, you can use the card without paying any interest on balances you tally, while still earning cash back.

The card requires good, not excellent credit, making it easier to get in. Cons: Charges a 5% balance transfer fee. This is on the high side, so we recommend looking at the Slate or BankAmericard if your goal is to transfer a balance. The Freedom Unlimited should be viewed as a cash back card.

The Verdict: One of the strongest cards available to those with good (but not perfect) credit. 500 in spend in the first 3 months. Most Appropriate For: Those with good credit seeking a daily-use card offering great cash back rewards and 0% Intro APR intro APR. Best for new charges.

Least Appropriate For: Balance transfers, as it charges the 5% fee while offering no more free term than the Slate (which has no transfer fee). 0% on Balance Transfers until February 2017, 1.5% Cash Back Rewards Program. 100 Bonus. No annual fee. Pros: Capital One's Quicksilver card makes things simple: you earn 1.5% cash back on all your purchases, with no limit and no category restrictions or games.

We included the card in our balance transfer list because it offers 0% intro APRuntil February 2017 on all balances transferred. Cons: Does charge a 3% balance transfer fee. Requires good credit to get in. The Verdict: If you're looking to transfer a balance and make some purchases, you can use this card to avoid paying interest during the intro period AND earn cash rewards. Most Appropriate For: Anyone who might make some large purchases in the near future, or regularly charges a lot on their cards.

Making the charges on the Quicksilver would earn cash back but not require any interest during the intro period. With so many issuers competing to offer such great introductory incentives, it seems smart to make use of them in the right way! We hope our reviews of these cards was helpful, and if you have any comments, please don't hesitate to let us at the LendingTree Credit Card Review Team know!



Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.