Credit cards that feature 0% APR promotional rates on purchases and balance transfers are one of the best ways to avoid interest payments and pay down credit card debt. And while there are many cards that have these offers, four of them stand out from the crowd.
These cards offer the longest 0% rates as well as unique money saving features that can help you prevent interest costs from piling up on old purchases or prevent new interest charges on upcoming purchases for up to 18 months.
The Chase Slate card is the undisputed leader when it comes to 0% APR balance transfer deals as it is the only card that charges no balance transfer fees. This works out to a savings of $30 for every $1,000 transferred compared to other 0% balance transfer offers on the market.
Slate offers 15 months of interest free financing on both new purchase and balance transfers and has no annual fee. While the 15 month 0% APR period is shorter than the 18 month period offered on two Citi cards, the balance transfer fee savings make this the best card for consumers with high rate balances.
- Chase Slate® named 'Best Credit Card for Balance Transfers' two years in a row, MONEY® Magazine, October 2013, 2014.
- $0 introductory balance transfer fee for transfers made during the first 60 days. After that, the fee for future balance transfers is 3% of the amount transferred with a minimum of $5.
- 0% Introductory APR for 15 months on purchases and balance transfers. After the introductory period ends, a variable APR of 12.99%, 17.99%, or 22.99%.
- $0 Annual Fee
0% for 15 months*
0% for 15 months*
12.99%, 17.99%, or 22.99% Variable*
The Simplicity card from Citi has the longest lasting 0% financing offer and a few other interesting features. New cardholders receive a 0% APR for 18 months on both new purchases and balance transfers. Additionally, Simplicity has no annual fee, no late fees, and no penalty interest rate.
Citi Diamond Preferred
Like the Simplicity card, the Citi Diamond Preferred card also offers 18 months of interest free financing on both new purchases and balance transfers, with the same 3% balance transfer fee. But in contrast, the Diamond Preferred card is a full featured product with benefits that include travel insurance, purchase protection, and a concierge service. There is no annual fee for this card.
The Discover it card is the new face of the venerable card issuer’s line of products. This new card comes with a promotional financing offer that feature 18 months of interest free financing on balance transfers, but only six months of 0% APR financing on new purchases. And although there is no annual fee, there is the standard 3% balance transfer fee.
Keep in mind that after six months, the minimum balance paid will count towards the 0% APR balance transfer, not new purchases. Only the amount paid in excess of the minimum balance will be applied to the new purchases which are incurring the standard interest rate.
The short 0% rate on purchases really only impacts consumers who transfer large balances and would thus have a high minimum payment every month who also make purchases, as they’d be paying the standard purchase rate on a portion of their balances after 6 months.
However, for those who are simply using the card for balance transfers, the complications described above are a complete non-issue.
- 0% intro APR on balance transfers for 18 months—then a variable purchase APR applies, currently 10.99% - 22.99%. A 3% fee applies to each transferred balance.
- 0% intro APR on purchases for 6 months. Then the variable purchase APR applies, currently 10.99% - 22.99%.
- Over 7,000 cardmembers rated 4.8 out of 5 stars* and J.D. Power awarded Discover "Highest in Customer Satisfaction with Credit Card Companies. Tied in 2014."+
- 5% Cashback Bonus for gas and ground transportation on up to $1500 in purchases from Jan. through Mar. 2015 after you sign up for 5% Cashback Bonus. 1% cash back on all other purchases.
- Free FICO® Credit Score on monthly statements, online and in our mobile app.*
- No annual fee, no late fee for your first late payment, APR won't go up for paying late, no overlimit fee and no foreign transaction fee.*
- Each Discover purchase is monitored. If it's unusual, you're alerted by e-mail, phone or text-and never responsible for unauthorized purchases on your Discover card.
- *See rates, rewards, free FICO® Credit Score terms, balance transfer terms and other info by clicking "Apply."
0% for 6 months*
0% for 18 months*
10.99% - 22.99% Variable*
To learn more about additional 0% APR credit cards, please visit the main offer comparison section on our website here.