0% Intro APR and Low Interest Credit Cards

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Zero Intro APR credit cards are ones that offer you a promo period where you get a number of months with 0% interest on either purchases or balance transfers, and in some cases, on both, from the time of opening your account. Zero percent intro APR can be helpful in many cases; for example, if you are planning a big purchase with money that you do not have or money you can’t spare, you can resort to this type of credit card to make your purchase and pay the amount, later on, in the form of monthly payments.
 

How a 0% Introductory APR Credit Card Offer Works

As mentioned before, there are two types of 0% APR offers: zero percent APR on purchases and zero percent APR on balance transfers.

1. 0% APR on purchases: If your card offers this option, you will be able to make purchases and pay them off over the promotional period, with no interest whatsoever.
    
2. 0% APR on balance transfers: If your card offers this option, you will be able to save on your existing high-interest debt by transferring your balance from your old account to your new credit card.

The process of using a credit card that has a 0% intro APR on purchases is quite simple; you can use the card normally to purchase things without paying anything on the spot. After that, you can start paying down the balance over time in monthly payments with no interest or any similar fees for as long as your card offers (usually anywhere between 12-21 months).

To put this into actual numbers, here is an example: if you make a purchase of $8,000 on a credit card that offers an introductory 0% APR for 15 months on purchases, you can pay off the $8,000 over the next 15 months with zero interest. However, as soon as this promotional period of 15 months is over, your APR will no longer be 0%, and the variable APR will then kick in. This means that if you finish paying $7,000 by the time the 15 months are over, your remaining balance of $1,000 will be subject to the card’s interest charges, which usually range between 14.99% to 23.99%, more or less. So, your best-case scenario would be paying off the whole amount of $8,000 in the first interest-free 15 months.

However, if you want a new credit card with an introductory APR of 0% on balance transfer, the process is different and requires more steps. When you find a card with such an offer, you will usually be asked if you plan to transfer your balance from your old account while signing up for the card. If this does not happen, you can call the credit card issuer to initiate the balance transfer. Some credit cards require fees on balance transfer, which usually range between 3% to 5%, which will affect the transfer process and might make the 0% intro APR seem less effective to you.

To put this in an example, if you apply and get approved for a credit card with a 15-month 0% intro APR on balance transfer with a limit of $10,000 and a transfer fee of 3%, this means that you will not be able to transfer the amount in full. So, if you transfer $9,500, you will need to pay a transfer fee of $285, which means that you will be just below the total credit limit of $10,000. Just like the example mentioned above, when the promotional period of 15 months is over, your balance will be subject to an ongoing variable APR.

The third option is credit cards that offer an introductory APR of 0% on purchases and balance transfers in the first few months of opening your account. However, you should keep in mind that if you use such a card to transfer balance for a high-interest debt you have, it would not be a good idea to use the same card for purchases, as it would hinder you from finishing off your debt. Other cards offer 0% intro APR on purchases and balance transfers separately; for example, you might get 12 months of 0% APR on balance transfers and only six months on purchases.
 

The Best 0% APR Credit Cards

There are so many credit card issuers that offer cards with an introductory APR of 0%, which if you start to research, you might get lost in. So, to make things easier for you, we have done the research and prepared a list with the best cards for this purpose:
 

The Blue Cash EveryDay^® Card from American Express

• This card has a 0% intro APR for the first 15 months from the date of account opening on purchases.
   
• After the promotional period, there is a variable APR of 18.99% to 29.99%.
• With this card, you can earn a $200 statement credit after spending $2,000 on purchases with your new credit card within the first six months of account opening.
   
• Earn 3% cash back at U.S. supermarkets up to $6,000 annually and 1% thereafter.
   
• Earn 2% cash back at U.S. gas stations and select U.S. department stores.
   
• Earn 1% cash back on all other eligible purchases.
   
• This card's recommended credit score is Good to Excellent (690-850).

Terms and conditions apply.

All information about Blue Cash Everyday® has been collected independently by Several.com.

Chase Freedom Flex^SM

• This card has a 0% intro APR for the first 15 months from the date of account opening on purchases and balance transfers.
   
• After the promotional period is over, there is a variable APR of 15.24% to 23.99%.
   
• This card has no annual fee.
   
• With this card, you can earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.
   
• 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
   
• Earn 5% cash back on travel purchased through the Chase Ultimate Rewards portal, 3% cash back at restaurants, including takeout and delivery, 3% cash back on drugstore purchases, and 1% cash back on all other eligible purchases.
   
• This card's recommended credit score is Good to Excellent (690-850).

Terms and conditions apply.
 

U.S. Bank Altitude^® Go Visa Signature^® Card

• This card has a 0% intro APR on purchases and balance transfers for 12 billing cycles from account opening.
   
• After the promotional period is over, your balance will be subject to an ongoing variable APR of 14.99% to 23.99%.
   
• This card has no annual fee.
   
• Earn 20,000 bonus points after spending $1,000 in eligible purchases within the first 90 days of account opening.
   
• Recommended credit score for this card is Excellent (720).

Terms and conditions apply.
 

Citi^® Diamond Preferred^® Card

• This card has a 0% intro APR for the first 12 months from the date of account opening on purchases.
   
• The card also offers 21 months of 0% intro APR on balance transfers from the date of your first transfer. You must note that all balance transfers must be completed within the first four months of opening your account.
   
• After the promotional period is over, there is a variable APR of 13.74% to 23.74%.
   
• This card's recommended credit score is Good to Excellent (690-850).
   
• This card has no annual fee.

Terms and conditions apply.
 

Things You Need to Keep in Mind Before Getting Your Card

Even though these cards come with many benefits when used well, just like anything else, they have their own disadvantages and limitations. So, before you apply for one, make sure that you understand everything about them.

1. The 0% APR is only an introductory promo period that will not last forever. As mentioned in the examples above, credit cards come with an intro APR of 0% for varying periods of 12-21 months. So, when you sign up for one, make sure to make use of this period because once the few months are over, you can no longer enjoy the interest-free payment. After the duration of the promo period is over, your APR will spike up to the standard percentage. The regular interest rate is usually not low, ranging between around 14.99% to 24.99%. So, be careful about your balance if you are nearing the end of the interest-free period so that you don’t end up stuck in high-interest debt.
    
2. Not every card offers an introductory 0% APR on balance transfers. Almost every credit card offers a 0% intro APR promo period on purchases made within the first few months of account opening; only a few of them offer the same for balance transfers. So before applying for a card, make sure you read all the terms very carefully to make sure that balance transfers are also included in the 0% APR offer.
    
3. Cards that offer a 0% APR on balance transfers often impose a fee on the transfer. These transfer fees are usually somewhere around 3% to 5% of the total amount transferred. So, if the balance you are transferring is huge in amount, this fee could make the 0% APR less beneficial. Before taking any step, do the math and weigh your options to make sure that balance transfer is your best option.
    
4. You can be disqualified for bad behavior, and you could end up losing your card. If you make late payments or if you miss some, you will get a notice from the issuer notifying you that they have the right to end your introductory period. If they end your intro interest-free period, your APR will spike up to its regular rate, and in some cases, they might even penalize you with an even higher APR that could reach up to 30%.
    

_{Disclaimer: Several.com may receive a commission from card issuers.
This article includes the author's opinions, reviews, and analyses alone that have not been reviewed, endorsed, or approved by any of these entities. Please note that the information regarding each card's offer is believed to be accurate as of the date it was written and as card offers change regularly; reasonable efforts are made to maintain accurate information.}