Best Zero Interest Cards (2024)

Using an intro APR card can make it easier to cover large purchases, but you should do your best not to charge more than you’re sure you can pay off.

The Citi Custom Cash card and its intro APR on purchases helped Bankrate writer Brendan Dyer take his time paying off unexpected expenses and more confidently fold loan payments into his monthly budget.

Although we probably won’t see further rate hikes soon, knowing your card’s APR is crucial since rates have remained high since August 2023. The current average interest rate just less than 21 percent, and this high rate could easily accumulate hundreds of dollars in interest payments before you settle your balance, especially if you charge most of your purchases to the card.

While the changes seem small on the surface, they can add up. Even a small change can make a difference in how long it takes to pay off your credit card balance.

With an intro APR offer, you can pay down more of your principal debt instead of interest charges. The offer won’t last forever, but it can give you a window—and a goal—to make paying off your debt easier. With Bankrate’s credit card payoff calculator, the table below shows that an 18-month 0 percent APR offer could save you around $400 in interest on a $3,000 credit card balance.

What’s the catch with 0% APR cards?

While an intro APR offer may sound too good to be true, when used wisely, it can be very helpful. These offers give you time to pay off purchases or reduce debts without paying any interest. This not only saves you hundreds but also gives you a solid timeline to pay off the debt.

Where it can become tricky is if you gain more debt than you can reasonably pay off. In that case, you’ll likely have a balance when the APR offer ends and interest will accrue on it.

And zero interest doesn’t mean no payments. If you don’t make the minimum monthly payment on your card, you could void your zero interest period and accrue interest immediately.

So, if you think an intro APR will cause you to spend more or the balance transfer limit is too low for your current debt, it may be better to skip it.

Choosing a 0% APR card for purchases vs. balance transfers

While a zero-interest card is great for both, it can be better to use it for one or the other to avoid your credit utilization exceeding 30 percent.

Zero-interest cards are great when you’re planning to make a large purchase, such as furniture or new tech. It’s also good for smaller purchases and getting used to a card’s features. Just make sure you stay aware of when the offer ends so you know when your interest starts to apply to your purchases. You should pay off your balance completely so you get any interest charges.

It can be easier to plan how long it will take to pay down your debt as you have a clear timeline between 12 and 21 months. You can divide it evenly or focus on lowering your debt to a certain amount before the offer is over. But don’t use that card for purchases, too, as it makes it more difficult to pay off the balance before the offer ends.

We dug into our proprietary data to identify Bankrate’s most popular intro APR credit card offers in 2023.

An average of 18 percent of Bankrate users clicked on these three credit cards:

• BankAmericard Credit Card

  See Also

  Best American Express Credit Cards With No Annual Fee Of August 2024How To Use A 0% APR Credit Card As An Interest-Free Loan

• Citi Diamond Preferred Card

• U.S. Bank Visa® Platinum Card

These cards feature some of the longest intro APR offers available, but they may be tough to qualify for without an excellent credit score. Plus, they might not have long-term value once the introductory period ends. And our data suggests that it may be much easier to get a rewards card with a shorter intro APR offer than cards that carry best-in-class intro APR offers.

For example, in 2023, 10 percent more Bankrate users were approved for a popular cash back card with a 15-month intro APR offer than for any of the cards mentioned above. On the plus side, many cards make up for their shorter intro APR periods with rewards. Consider this as you shop for a 0 percent intro APR card: You may have to give up a few months of 0 percent intro APR if you want a card that earns rewards, but the card will have more long-term value.

According to a recent Bankrate survey, one in three Americans is planning to go into debt for summer travel in 2024. A zero-interest card with a solid rewards rate can help you manage such costs while accruing points, miles or cash back to fund your next trip.

Advice from other people who’ve used the cards you’re interested in is a great way to shop around for your next credit card. We explored what people had to say about the best zero-interest cards to give you more perspectives on your options.

Many Redditors in the r/CreditCards community routinely recommend the following cards for intro APR offers:

• For taking advantage of intro offers and sign-up bonuses, the Chase Freedom Unlimited® and Chase Freedom Flex® are top options.

• The Wells Fargo Reflect is a go-to for people with good-to-excellent credit and who want to transfer debt.

• Some users recommended the Wells Fargo Autograph℠ Card for travel purchases and its intro APR offer.

Although credit card APRs are especially high right now, remember that you won’t have to pay interest if you don’t carry a balance. A user in this thread makes a great analogy for how important this responsibility is: “Treat a creditcard bill like any utility bill. You wouldn't pay off 1 [percent] of your electricity bill every month, so don't do it with a credit card.”*

The best zero-interest card will be the one that fits best into your financial situation, whether you’re using one to finance upcoming expenses or manage any existing credit card debt. However, it could be worth considering a card with more long-term value than just long intro APR offers, based on recent online discussion.

In a myFICO forum for planning a 2024 credit card strategy, several users prioritized paying down their debt and preparing for potential major expenses. One user is adjusting their credit card strategy to find cards with long-term value due to rising costs in the current card economy. Because costs are increasing, cash back is going to be more important than ever, they commented. And they said that they’ll more strongly consider zero-interest cards with cash back welcome offers.

*The quotes and citations included on this page have been verified by our editorial team and are accurate as of the posting date. Be sure to check the issuer's website/terms and conditions for all up to date content. Outlinked content may contain views and opinions that do not reflect the views and opinions of Bankrate.

First-hand experience from zero-interest credit card users

Credit card interest is the cost of borrowing money in the form of a percentage of your credit card balance at the end of each billing cycle. It's one of the main ways that credit card companies make money. You won’t have to pay interest on your purchases if you pay your balance off each cycle. If you still have a balance on your credit card past the grace period of a billing cycle, the credit card issuer will tack on your interest charges for that cycle.

How much interest you pay depends on the APR you qualify for when you are approved for a card, determined partly by your creditworthiness. At the end of each billing cycle, the credit card issuer calculates your interest charges using your average daily balance, APR and the number of days in the billing cycle.

How does credit card interest work?

A good credit score (FICO score between 670 and 739) would give you a solid chance to qualify for a 0 percent APR credit card, and an excellent credit score would give you the best approval odds and rates. You can estimate your approval odds — and potentially find preapproved card offers — through Bankrate’s CardMatch tool if you want an extra vote of confidence.

What credit score is required for a 0 percent APR card?

When your 0 percent intro APR offer ends, the card’s regular, ongoing interest rate will apply to any future balance you carry month to month. For example, if your intro APR period is over and you still have a balance of $200 on your card, your next credit card statement will show that you owe $200 plus any additional interest you’ve gained.

What happens when the 0% APR offer ends?

• The U.S. Bank Visa Platinum Card offers a 0 percent intro APR for 21 billing cycles on purchases and qualifying balance transfers. The ongoing variable APR is 18.74 percent to 29.74 percent thereafter.

• The Wells Fargo Reflect Card offers a 0 percent intro APR for 21 months on purchases and qualifying balance transfers. Balance transfers made within 120 days qualify for the intro rate (with a balance transfer fee of 5 percent or a minimum of $5). The ongoing variable APR is 18.24 percent, 24.74 percent or 29.99 percent thereafter.

• The Citi® Diamond Preferred® Card has a 0 percent intro APR for 21 months on balance transfers made within four months of account opening, then 18.24 percent to 28.99 percent variable APR. On the other hand, its 0 percent intro APR on purchases only lasts 12 months.

• The Citi Simplicity® Card also has a lengthy 0 percent intro APR for 21 months on balance transfers, then 19.24 percent to 29.99 percent variable APR. However, its 0 percent intro APR on purchases is also limited to 12 months.

What are the longest 0% APR credit card offers?

No, the two are very different. With deferred interest, interest starts to build when you open the account but is forgiven once you pay off the charges in the specified time period. If you don't pay them off before the deadline, however, the interest that's been building up is added to your balance.

A 0 percent intro APR credit card won't charge interest retroactively this way, although the card's standard APR will apply on any balance carried over after the introductory offer expires.

Is deferred interest the same as a 0% APR credit card?

How we assess the best zero-interest credit cards

When evaluating the best zero-interest cards, we consider a mix of factors, including how cards score in our proprietary card rating system and whether cards offer features that fit the priorities of a diverse group of cardholders.

A “zero-interest” designation can apply to several different types of card, each best suited to a different type of cardholder. Some users may need to finance purchases or carry a balance long term, others may need as much time as possible to chip away at debt and still others would love an intro APR but mostly want to maximize a card’s long-term value via rewards.

Here’s a quick look at our card rating methodologies vary based on card type, with most “zero-interest” cards landing in a primary scoring category of Balance Transfer, Low-Interest or Rewards.

For balance transfer and low-interest cards, our scoring breaks down as follows:

For rewards cards, the breakdown looks quite different:

We analyzed over 100 of the most popular zero-interest cards and scored each based on its introductory APR, intro APR period length, ongoing APR, balance transfer fee, perks and more to determine whether it belonged in this month’s roundup.

Here are some of the key factors that we considered:

The primary factor in a balance transfer or low-interest card’s rating and its inclusion in our list is the quality of its introductory APR offer and ongoing APR. This includes both the introductory rate itself and the length of the intro APR promotional on both balance transfers and new purchases.

For cards designed primarily for balance transfers, the intro APR offer on balance transfers has the largest impact on overall score. The quality of these cards’ intro APR on new purchases is also considered, but holds less weight than the intro APR on balance transfers.

For general low-interest cards, the intro APR offer on new purchases has the largest impact on overall score, followed by the ongoing APR and intro APR offer on balance transfers. This weighting assumes cardholders considering a card in this category will prioritize payment flexibility on new purchases or may need to carry a balance long term, whereas cardholders trying to pay off debt will opt for a dedicated balance transfer card.

The cards that score the highest in these categories and are most likely to be included in our list tend to offer long 0 percent intro APRs on both balance transfer and new purchases as well as a lower-than-average low-end APR.

Here’s a closer look at how a card’s rates, fees and intro APR periods are evaluated in our rating methodology:

Balance transfer card rates & fees scoring

Generous intro and ongoing APR

Along with evaluating each card’s intro APR offers, we score balance transfer and low-interest cards based on their fees.

Of primary importance is a card’s balance transfer fee, since this can play a large role in the total cost of a balance transfer. We rate each card’s balance transfer fee based on how it stacks up against the fee you’ll find on competing cards.

While this fee carries less weight when we assess general low-interest cards than dedicated balance transfer cards, it still factors into our evaluation since cardholders may decide to transfer debt to a low-interest card even if it offers no intro APR or an intro APR higher than 0 percent.

And while a lower balance transfer fee could save you more overall than a few extra months of 0 percent APR, this fee carries less weight in our scoring system than a card’s introductory APR and intro APR period. This is because many users prioritize getting as much time as possible to pay off debt while avoiding interest.

Other fees considered in our assessment include the presence of annual, foreign transaction, cash advance and late payment fees, along with penalty APRs. Annual fees are weighted most heavily since these are the only “unavoidable” fees in the list and tend to be less common on dedicated balance transfer and low-interest credit cards.

Reasonable fees

While getting a generous intro APR offer and low ongoing APR are likely to be the biggest priorities for someone looking for a low-interest or balance transfer card, we also consider how much value a card can offer after its intro APR comes to an end.

Balance transfer and low-interest cards receive a higher rating and are more likely to be included in our list of best cards if they also include an ongoing rewards program or unique and valuable perks. Such features make a card more useful long term and make it less likely you’ll need to apply for a new card (and temporarily hurt your credit score) after you pay off debt.

With this in mind, our best cards list often includes a number of rewards and cash back cards alongside dedicated balance transfer cards. These cards tend to offer slightly shorter intro APR periods, but could help you save more overall, either via rewards earned on everyday spending, valuable perks or a lower balance transfer fee.

Solid long-term value

The information about the Chase Freedom Flex has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.

Best 0% Interest Credit Cards of August 2024

• Wells Fargo Reflect® Card: Best for long intro APR

• Discover it® Cash Back: Best for rotating bonus categories

• Capital One VentureOne Rewards Credit Card:Best for travel

• Wells Fargo Active Cash® Card: Best for flat-rate rewards

• Blue Cash Everyday® Card from American Express Card: Best for everyday use

• Capital One SavorOne Cash Rewards Credit Card: Best for dining and entertainment

• Capital One Quicksilver Cash Rewards Credit Card:Best for simplicity

• Blue Cash Preferred® Card from American Express: Best for families

• Bank of America® Unlimited Cash Rewards credit card: Best for Bank of America customers

• Chase Freedom Unlimited®: Best for flexible spending

• Ink Business Unlimited® Credit Card: Best for business purchases

• Citi Custom Cash® Card: Best for commuters

• The Bank of America® Customized Cash Rewards credit card: Best for shopping

• Citi® Diamond Preferred® Card: Best for flexible payment options

Additional Options:

• BankAmericard® credit card: Best for low interest

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