Key takeaways ; Zero percent APR cards generally offer promotional periods between 12 and 21 months, during which no interest is charged on your qualifying balance. Many consumers use 0 percent APR cards to save on interest, pay off debt more quickly or catch up on their savings. Zero percent APR cards are typically only available to consumers with good or excellent credit, but all users need to be cautious about running up balances they can't pay off before the promotional period expires.
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.
Figure out what credit score you need · Determine the type of offer you need · Consider the length of the offer · Take note of any offer limitations · Understand the credit card’s fees · Look for credit card rewards · Consider additional cardholder perks · Where to find the best zero interest credit cards
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 ; A 0% APR credit card can be a great financial tool, but there are debt traps to be aware of when using one. ; Always make the minimum payments on your credit card to avoid consequences like late fees, damaged credit and penalty APRs. ; Pay attention to when the intro period ends and have a plan to pay your balance off before the end of the promotional period.
Read up on the latest advice and guides for zero interest credit cards from the team at Bankrate. We'll help you maximize your money and put your wallet to work for you.
Written by Garrett Yarbrough ; Edited by Courtney Mihocik ; Reviewed by Jason Steele
In fact, there are plenty of things to know about zero interest... 0 percent APR credit card with the intention of paying down debt, look for balance transfer cards with long intro periods...
their credit card isn’t getting a break from sky-high interest charges. “It is becoming... “The fact that zero-percent balance transfer cards remain widely available, is, on its face...
The average cardholder could save hundreds of pounds a year by switching their existing balances to a zero percent balance transfer card. ; New research by Experian shows more people have been searching for ways to pay off debt quickly this year by reducing the amount they spend on interest. ; A zero percent balance transfer credit card typically enables customers to stop paying interest for a set period - potentially up to 33 months, depending on the card.