Having a credit card for a businessman has become a necessity nowadays. You should be really cautious while picking 0 interest credit cards for you.
A 0 interest credit card with an introductory offer on purchases, balance transfers, or both can help you avoid interest charges for a limited time and potentially save hundreds of dollars. Compare the best 0% intro APR credit cards available from our partners and get expert advice on debt management.
What Is A Credit Card?
A credit card is a type of credit facility offered by banks that allows customers to borrow funds up to a predetermined credit limit. It permits consumers to make purchases of goods and services.
Credit cards are notorious for charging higher interest rates than many other financial products, but some cards offer a 0% APR promotional period. Some 0% APR credit cards allow you to avoid paying interest on both purchases and balance transfers, while others only offer one or the other.
When comparing 0% APR cards, keep in mind that some may lack features, such as rewards and other perks, that will keep you using the card long after the promotional period has ended.
Benefits Of A Credit Card
1. Buying on credit facility: The credit limit granted to the cardholder is what makes a credit card appealing. You can buy whatever you want within that limit and pay later. Even if you buy expensive items on credit, your monthly budget will not be affected. The ability to convert the total amount of your purchases into low-cost EMIs, allowing you to repay it easily over time, is one of the most significant benefits of a credit card.
2. The most commonly used method of payment: If you have this card, you can travel anywhere without carrying much cash. You can use a credit card to pay for anything because it is the most widely accepted method of payment.
3. Withdrawal of interest-free cash: A few credit cards allow you to withdraw money up to a certain limit in an emergency, with no interest charged for 45 to 50 days. It is useful in times of financial emergency.
4. Infinite reward points: Business cards, like personal credit cards, offer loyalty points, cashback, and other perks for various transactions. Assume you have a business credit card that provides travel rewards. In that case, you can earn points and redeem them for discounted (or even free) hotel stays and airline tickets.
This helps to reduce your business travel expenses. Not only do business credit cards provide travel credits, but they also provide cashback offers on gas, dining, and shopping, among other things.
Top Picks Of 0 Interest Credit Cards
We’ve compiled a list of some of our favorite 0% interest credit cards to help you decide which one is best for you.
1. Wells Fargo Active Cash Card
The Wells Fargo Active Cash Card is one of the best cash rewards credit cards we’ve seen, not just one of the best flat-rate cash rewards cards.
Wells Fargo Active Cash offers unlimited 2% cash back on purchases and has no annual fee. This puts it in direct competition with the best flat-rate cash-back cards available. The 0% intro APR on purchases and qualifying balance transfers is valid for 15 months from account opening, after which a variable APR of 17.24%, 22.24%, or 27.24% applies.
Balance transfers made within 120 days qualify for the introductory rate and fee of 3%, followed by a fee of up to 5%, with a minimum of $5. Although there is a transfer fee, this is a good option for balance transfers.
2. Discover It Cash Back
The Discover it Cash Back is an excellent introduction to rewards-earning credit cards. The Discover it Cash Back program provides solid rewards: When activated, earn 5% cash back on everyday purchases at various locations each quarter, up to a quarterly maximum of $1,500 in spending. Plus, automatically earn an unlimited 1% cash back on all other purchases.
Another advantage of carrying the Discover it® Cash Back card is that there is no minimum cash-back redemption amount. The card also comes with a 15-month 0% introductory APR on purchases and eligible balance transfers. Then a variable rate of 14.24% – 25.24% is applied. A balance transfer fee of up to 5% of the transferred amount is charged.
3. BankAmericard Credit Card
The BankAmericard credit card isn’t flashy, but it also doesn’t pretend to be. It only has one purpose: to save money on credit card interest, and it does it about as well as any other card on the market.
However, the card’s value is largely determined by its 0% period. Aside from that, it lacks any of the extras you might look for in a credit card, such as ongoing rewards or even side benefits.
4. Chase Freedom Unlimited
The Chase Freedom Unlimited® card provides an enticing mixture of useful rewards, adaptable redemption options, a lengthy 0% introductory APR period, and a sign-up bonus worth more than most cash-back cards — all for a flat annual fee of $0.
The Chase Freedom Unlimited® card earns 3% cash back on restaurant and drugstore purchases, 5% cash back on Chase-booked travel, and 1.5% cash back on all other purchases.
5. Wells Fargo Reflect Card
The Wells Fargo Reflect® Card, one of the newest additions to the issuer’s expanding portfolio, is a strong bet for consumers searching to pay down debt or pay off a major purchase.
The no-fee card has an extra-long promotional period for 0% intro APR on purchases and cash advances, as well as the option to extend this period even longer.
Frequently Asked Questions
- What is a purchase APR?The APR is the rate of interest charged by the credit card company on purchases if you have a balance on the card.
- What is an intro APR?A promotional interest rate that is lesser than the card’s usual APR for a limited time, sometimes as low as 0% APR.
- What is the best credit card with 0% interest?There are many best credit cards with no interest, only what is best for your specific situation. If you’re looking for the best no interest offers on purchases, consider the length of the offer when selecting a credit card for its interest-free offer.