Best 0% APR credit cards: Key details about finance debt or new purchases without paying interest for up to 21 months

Credit cards are notorious for charging interest rates that are significantly higher than those of many other types of financial products. However, some credit cards with 0 per cent introductory APR periods allow you to avoid making interest payments on balance transfers, purchases, or both during promotional 0 per cent introductory APR periods. To assist people in determining which card offers the best 0 per cent introductory APR for you, here are some of the most recommended cards in this category.

Citi Simplicity Card- If you have outstanding credit card debt from many cards, you may choose to consider applying for the Citi Simplicity Card as one of your consolidation options. When you transfer a balance using this card, the introductory APR will be 0 per cent for the first 21 months, starting from the date of your initial transfer. (after that, the variable APR will be between 17.74 per cent and 28.49 per cent). Transfers of existing balances must be finalised within the first four months after starting the account.

Fargo Reflect Card- For those who want to either consolidate existing debt or pay off major purchases over time, the Wells Fargo Reflect Card is the best option. The card offers a 0 per cent introductory APR on purchases and qualifying balance transfers for 18 months after account activation (16.74 per cent - 28.74 per cent variable APR thereafter). With on-time minimum payments made throughout the intro period, you can receive an intro APR extension for three months, extending the total 0 per cent intro APR period to 21 months. The initial transfer fee for balance transfers is 3 per cent ($5 minimum), which increases to 5 per cent ($5 minimum) after 120 days from account activation.


Citi Diamond Preferred Card- Another excellent choice for financing significant purchases or transferring credit card debt is the Citi Diamond Preferred Card. Balance transfers from the date of the first transfer are subject to a 0% intro APR for 21 months, and purchases are subject to a 0 per cent intro APR for 12 months (16.74 per cent - 27.49 per cent variable APR after that).

FAQ

1. Does 0 per cent APR help your credit?
Your scores won't be impacted by having a 0 per cent APR (or a 99 per cent APR, for that matter). However, the amount of interest that builds up on your loan could have a variety of indirect effects on your ratings.

2. Which is preferable, cash back or 0 per cent APR?
You can save money on a car purchase with both a cash rebate and 0% financing, but they function differently. Cash rebates are sums of money given to car buyers in return for their purchases, whereas auto loans with 0% APR have no interest or other fees.