Learn how a 0 percent APR credit card can help you save money on interest and how to maximize its benefits in this guide.
Find a top zero-interest credit card in 2024 to help finance big purchases and manage debt without paying interest with Bankrate.
Don’t let the flurry of credit card choices confuse you. Find the best 0 apr credit cards for your goals with these tips and tricks.
Credit cards with 0 percent introductory APR offers can be a useful tool, but you’ll need good to excellent credit to qualify.
Key takeaways ; Today, cards with tempting introductory offers and great cash back rates abound. ; If your credit card score has improved or your life circumstances have changed since you initially applied for your current primary credit card, a new card could offer better perks. ; Make sure the new card you choose lines up well with your current spending habits and that the benefits you gain outweigh any associated fees.
Key takeaways ; A 0 percent intro annual percentage rate (APR) card can help you consolidate and pay down debt faster – without interest payments – if you’re disciplined in how you use it. ; These cards typically come with a balance transfer fee, and you risk losing the 0 percent intro APR if you’re late with a payment. ; If you can’t pay off what you transfer before the intro period ends, you’ll pay much higher interest on the remaining balance.
You can save money on interest (and avoid the pitfalls of a 0% intro APR card) by making a plan to pay off your balance in full before the intro offer expires.
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American credit card balances rose to $986 billion in the last quarter of 2022. Here’s a look at credit debt in the U.S. and how to start paying your balance down.
Key term, Definition ; Purchase APR, This is the interest rate applied to general purchases made with your card online, in person or over the phone. ; Introductory APR, This is a promotional interest rate for a limited period of time that is lower than the card’s regular APR, sometimes in the form of a 0 percent intro APR . It can apply to purchases, balance transfers or both, depending on the card’s offer. Once the introductory period expires, the regular APR applies to any balance that remains. ; Cash advance APR, This is the rate for borrowing cash with your credit card . A cash advance APR is typically much higher than your purchase APR. And cash advances don’t come with a grace period, which means it’s applied immediately after your transaction is complete. It’s also often applied to convenience checks.