The Best 0% APR Credit Cards for 2021
Credit cards can be a great way to make purchases and earn rewards, but they can also come with high interest rates that make them a costly option for some consumers. Thankfully, there are credit cards available with a 0% APR introductory period that can help you save money on interest and pay off your balance faster.
In this article, we will be discussing the best 0% APR credit cards for 2021. We’ll dive into the details of each card, including their pros and cons, and help you determine which one is right for you.
What Is a 0% APR Credit Card?
Before we get into the details of the best 0% APR credit cards, let’s first define what a 0% APR credit card is. A 0% APR credit card is a credit card that offers a 0% interest rate for a certain period of time. During this time, you won’t be charged any interest on the purchases you make with your card, or on any balances you transfer to the card.
Typically, the 0% APR introductory period lasts between 6 and 18 months, depending on the card. It’s important to note that the 0% APR is only temporary, so after the introductory period ends, the card will begin charging interest at its regular rate.
Best 0% APR Credit Cards for New Purchases
If you’re looking for a credit card with a 0% APR introductory period for new purchases, these cards are worth considering:
1. Chase Freedom Unlimited
If you’re looking for a card with a long 0% APR period and a great rewards program, the Chase Freedom Unlimited could be the one for you. With this card, you’ll get 0% APR on purchases for the first 15 months, and you can earn unlimited 1.5% cash back on all purchases.
2. Citi Simplicity
The Citi Simplicity card is another great option for those looking for a long 0% APR period on new purchases. With this card, you’ll get 0% APR on purchases for the first 18 months, and there are no late fees or penalty APRs.
3. Capital One Quicksilver
The Capital One Quicksilver card is a great choice for those who want to earn cash back on their purchases while enjoying a 0% APR introductory period. With this card, you’ll get 0% APR on purchases for the first 15 months, and you’ll earn unlimited 1.5% cash back on all purchases.
Best 0% APR Credit Cards for Balance Transfers
If you’re looking to transfer an existing balance to a credit card with a 0% APR introductory period, these cards are worth considering:
1. Chase Slate
The Chase Slate is one of the best balance transfer credit cards available, offering 0% APR on balance transfers for the first 15 months and no balance transfer fees if you transfer your balance within the first 60 days.
2. Citi Diamond Preferred
The Citi Diamond Preferred card is another popular balance transfer credit card, offering 0% APR on balance transfers for the first 18 months. There is a balance transfer fee of 3% of the amount transferred, but if you’re looking to transfer a large balance, the interest savings could be worth it.
The BankAmericard is a great option for those looking to transfer a balance with no balance transfer fees. With this card, you’ll get 0% APR on balance transfers for the first 18 billing cycles, and there is no balance transfer fee if you transfer your balance within the first 60 days.
Pros and Cons of 0% APR Credit Cards
As with any financial product, there are pros and cons to using a 0% APR credit card. Let’s take a look at some of the advantages and disadvantages:
– You can save money on interest charges
– You can pay off your balance faster
– You can use the introductory period to make a large purchase and pay it off over time without accruing interest
– The introductory period is temporary
– The regular interest rate can be high
– The 0% APR may not apply to cash advances or balance transfers
How to Choose the Best 0% APR Credit Card for You
When choosing a 0% APR credit card, there are several factors to consider. Here are some things to keep in mind:
Length of Introductory Period:
Look for a card with a long introductory period so you have more time to pay off your balance or make new purchases without accruing interest.
If you’re looking to earn rewards on your purchases, choose a card with a rewards program that fits your spending habits.
Balance Transfer Fees:
If you’re looking to transfer an existing balance, consider the balance transfer fees associated with each card.
Regular Interest Rate:
Be sure to check the regular interest rate on the card after the introductory period ends to make sure it’s manageable for you.
Using a 0% APR credit card can be a great way to save money on interest charges and pay off your balance faster. When choosing a 0% APR credit card, be sure to consider the length of the introductory period, the rewards program, balance transfer fees, and the regular interest rate. With the right card, you can enjoy the benefits of a 0% APR and make your purchases or pay off your balances without worrying about accruing interest charges.
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