Credit cards stand as a sound option for consolidating old debt and financing new purchases. However, credit cards with a 0% introductory APR period save you temporarily from paying skyrocketed interest rates on balance transfers and purchases. Some of the no-interest credit cards for 24 months helps you accumulate time to pay off the debt balance without incurring extra interest rate charges.
Most importantly, there are no 0% interest credit cards with no APR fees in the long run. Many 0% APR credit cards provide zero-interest ranging from 8 to 24 months. Usually, this period can increase substantial savings if you have a balance on a high-interest credit card. So, if you have a big debt on an existing card or you intend to make a large purchase, it’s financially advisable to go for an introductory 0% interest credit card.
Fortunately, some credit cards having a 0% introductory APR provisions on balance transfers, purchases, or both can save you from interest charges in the coming year 2021 or beyond. Besides, all credit cards for bad credit attach a deposit to get a credit limit. But, there are credit cards for bad credit no deposit that offer 0% interest on purchases and that offer may also apply to balance transfers.
What Are Credit Cards And How Do They Work?
Generally, credit cards refer to financial tools that enable you to borrow funds without placing collateral and are applicable for short term borrowing. Some credit cards do offer no interest during the introductory period while others don’t. The payable interest depends on how much and long you borrow.
However, for 0% introductory period credit cards, you will pay no interest for a limited time, after which the regular annual rates take effect. You might enjoy no foreign transaction charges, travel benefits, and other perks depending on the type of card you choose. Most importantly, be watchful for high-interest charges, annual fees, and other hidden charges.
What Should You Know About The 0% Apr Credit Cards?
i) Introductory APR
A small percentage cards in this category offer a 0% APR offer of 18 months on purchases, with 15-month 0% APR provision being the most common. If you do purchases with a 0% introductory APR offer on purchases, you will pay no interest. But if a balance remains after the offer ends, if a balance remains, the interest charges kick in.
ii) Regular APR
This APR is applicable when you proceed for a purchase. However, when you extend the balance past the grace period, you incur interest charges, the most common interest charges on a credit card.
iii) 0% intro APR on purchases and Balance transfer
This implies that you will not pay interest if you have a 0% introductory APR offer, when you transfer a balance to a new card, during the offer period. After the offer ends and there is a balance, the regular interest rate applies.
If you default in payments, this penalty rate applies. This rate is usually a bit higher than the other rates. However, some cards like the Discover Cards, have no penalty APR.
Most cards having a 0% introductory offer instill no yearly fee, but some few cards do have an annual fee, so check before committing.
Can You Get a Business Credit Card with Fair Or Bad Credit?
Most business credit cards need good to excellent credit. But, there are limited small business credit cards for bad credit for people with fair or bad credit. These cards lack the huge sign-up bonuses and travel benefits of other types of business cards, but they are crucial as stepping stones for better credit and more attractive business rewards cards offers.
Why Should You Get a Fair Credit Card With High Limits?
Credit cards for fair credit comprise a variety of selection including cards that provides rewards like bonus points and cashback. Therefore, finding the right credit cards for fair credit with high limits can help you to rebuild your credit history and improve your credit score.
Moreover, possessing a high credit limit card can enable you to make large purchases. You can use your credit card to gain rewards or transfer large balances to explore the advantage of an introductory 0% APR offer. The following are some of the guaranteed approval credit cards for bad credit that can lead to lower consumption rates, which can improve your credit scores. They include;
- Credit One Bank Visa.
- Fingerhut Credit Account.
- Costco Anywhere Visa Card by Citi.
- OpenSky Secured Visa.
- Discover it Secured.
What Are The 7 Best No Interest Credit Cards For 24 Months?
In this article, we have compiled some of the best no-interest credit cards that offer an 0% introductory APR offer for a period between 15 to 24 months. However, with these types of credit cards, you can transfer money using a routing number and account number to people or pay for bills using various digital payment services.
1) Citi Simplicity Card
The Citi Simplicity Card is a viable option for balance transferring or consolidating debt. With a 0% APR introductory period of 21 months for balance transfers, this is a lucrative card for people who are looking to channel an enormous existing balance from another card.
Besides, it has a 0% APR for a 12-month introductory on new purchases. The Citi Simplicity Card is and excellent option for those wishing to spend interest-free in the short run. Thereafter, a rate of 14.74% – 24.74% that’s variable applies. Interestingly, there are no penalty rates, annual fees, or late fees.
- No annual fees, late fees, or penalty rates
- Identity Theft Assistance
- Free Credit Score
- No rewards or cashback program
2) Wells Fargo Cash Wise Visa Card
Wells Fargo Cash Wise Visa card is a zero-interest option you’ve been searching for. It has an introductory APR offer lasting 15 months, after which an interest of 13.99% – 25.99% variable is payable. For digital wallet users, the added incentive is the 1.8% cash rewards rate on eligible purchases such as Apple Pay or Google Pay, during the first 12 months.
Additionally, using the Wells Fargo Cash Wise Visa for your monthly cellphone bill payment makes you entitled to up to $600 protection against damages or theft, with a $25 deductible.
- Unlimited flat-rate rewards
- No annual fee
- Generous 0% APR introductory offer
- Has minimum redemption requirements
3) Wells Fargo Platinum Card
This card is the best 0% intro APR card for personal finance management. It helps you to pay off a large purchase or a balance transfer in the introductory period without paying APR. Moreover, the Wells Fargo Platinum can enable you to meets your financial obligations with 18months 0% APR offer on eligible balance transfers.
The APR of between 15.49% – 24.99% variable applies afterward. In the long run, you also secure up to $600 protection against covered cell phone damage or theft.
- Very long 0% APR offer
- Promotional interest rate offer applicable to purchases and balance transfers
- Cell phone insurance perks add some long-term value
- No rewards program
4) Chase Freedom Unlimited
Chase Freedom Unlimited is the most versatile 0% introductory APR card, and a cashback card with a 15-month introductory period on new purchases. Besides, an APR of 14.99% – 23.74% variable is applicable. Additionally, you are qualified for at least 1.5% unlimited cashback for all eligible purchases.
The long term benefits include 5% earnings on travel bought through the chase, 3% on dining at restaurants and drugstores, and 1.5% on other purchases.
- More ways to earn rewards
- High-value bonus for new cardholders
- Rideshare and food delivery perks
- Foreign transaction fee
5) Citi Diamond Preferred Card
This card is the best 0% APR card ideal for excellent credit and has an outstanding 18month 0% APR introductory on balance transfers. An APR rate of 14.74% to 24.74% variable is chargeable after the lapse of the intro offer.
However, the Citi Diamond Preferred is among the best options for managing transferred debt. The 0% introductory offer plus the competitive regular APR are useful in maintaining your excellent credit score alongside lowering chances to high-interest charges.
- No annual fee
- Free access to your FICO score
- $0 liability on unauthorized charges and early fraud detection services
- Not for bad credit
6) U.S. Bank Visa Platinum Card
U.S. Bank Visa Platinum Card provides a 20-month introductory window at 0% APR on both current purchases and balance transfers. Besides, this card accrues no annual fee. The following are the fees payable;
- Annual Fee: None
- Balance Transfer Fee: $5 or 3% of the total transfer, whichever is greater
- Cash Advance Fee: $10 or 4% of the overall advance, whichever is greater
- Foreign Transaction Fee: 2% on foreign purchases made in U.S. dollars, 3% on foreign purchases made in foreign currency
- Late Payment Fee: Up to $40
- Cell phone protection plan
- $0 annual fee
- 20 months of 0% APR on purchases and transfers
- No welcome bonus
7) BankAmericard Credit Card
The BankAmericard credit card allows members to concentrate on the details of card membership, credit card usage and making timely monthly payments. The most attractive feature of the BankAmericard is the lengthy introductory 0% APR window for purchases and balance transfers.
At 18 billing cycles balance transfers made in the first two months and for purchases, this card is one of the extended offers out there, providing the BankAmericard a slot in the best credit cards of 2020 list.
Most importantly, terms and conditions apply after the lapse of the introductory period. Every balance transfer comprises a fee of either $10 or 3% of each transaction.
- No annual fee
- No penalty APR
- Free access to your FICO score
- No reward perks
Accessing credit cards has been simplified by introductory of 0% APR, no credit checks, and a lengthy period that enables one to accumulate funds for timely balance payments. No matter your credit score with FICO, you can always get a credit card that you qualify whether you have excellent, good, fair, and bad/poor credit listing. Make sure you understand the terms and conditions well before committing to a credit card.