The 4 Best 0% APR Credit Cards – No Interest For All Of 2020
We’ve tackled the best cards for all sorts of spending. From grocery stores, to gas stations, to travel, to everyday spending, there are great cards for maximizing essentially any purchase. But there is one set we have yet to explore: the best 0% APR credit cards.
With everything going on these days people may find 0% offers useful to help with cash flow or to take advantage of an investment opportunity. Do not use these haphazardly though because it is still taking on debt.
When to Get a 0% APR Credit Card
I’ve never had a reason to pick up a 0% APR credit card (learn more), although I’ve gotten a good number of offers over the years. There are certainly reasons why a card with a 0% interest rate can make sense. These generally boil down to either debt consolidation or carrying a large purchase to be able to pay it down over time without interest.
Debt Consolidation
The key with 0% APR cards (as with so much else in this hobby) is financial discipline. Don’t get a 0% APR card and rack up a balance you cannot pay off. Credit cards should always be a tool, never a trap. If you currently have debt to pay off, I generally recommend that you don’t worry about points until you’re debt-free. A 0% APR can be a tool in this case, but absolutely have a plan and be able to execute it.
In general, the best 0% APR credit cards will offer an interest-free period longer than a year. If you need to balance transfer existing debt to the card, you’ll generally pay a 3% fee. Yes, you pay something up front, but this will save you interest in the long run if it would take you more than a few months to pay off the debt. Using 0% APR offers is a great way to not pay a ton of interest while working yourself out of debt.
Large Purchases
The other use for a 0% APR card is using it when you would otherwise have to finance a large purchase. This might be something like a major appliance. Not too costly, but sometimes hard to shell out the cash for. If you know you can pay the purchase off within to interest-free period, a 0% APR credit card is likely a better option than financing through the vendor.
Again, I provide these as examples of when a 0% APR card could make sense. Make sure you weigh your own decision carefully. However, if you do find yourself looking for a card, here are five of the best 0% APR credit cards to consider.
Chase Freedom and Chase Freedom Unlimited
The Chase Freedom and Freedom Unlimited are two excellent options for those looking for 0% APR credit cards that also have excellent reward earning potential. Both cards offer a welcome bonus of $200/20,000 Ultimate Rewards points after spending $500 on purchases within the first 3 months of card membership.
The 0% APR offer is for both new purchases and balance transfers within the first 15 months. The balance transfer fee is also 3% if the transfer is initiated within the first 60 days. After this, the fee increases to 5%. Both cards have a good earning potential and no annual fee.
Here is the current welcome offer and benefits of the Chase Freedom card:
- Welcome offer of 20,000 Ultimate Rewards points worth $200 after spending $500 on purchases within the first 3 months of card membership
- Earn 5% cash back/5x Ultimate Rewards per dollar spent in rotating quarterly categories (up to $1,500 per quarter)
- Ability to transfer points to a premium Chase Ultimate Rewards card in the same household
- No annual fee
- Direct Link to $200 Offer
Here is the current welcome offer and benefits of the Chase Freedom Unlimited card:
- Welcome offer of 20,000 Ultimate Rewards points worth $200 after spending $500 on purchases within the first 3 months of card membership
- Earn an uncapped 1.5% cash back/1.5x Ultimate Rewards per dollar spent
- Ability to transfer points to a premium Chase Ultimate Rewards card in the same household
- Introductory 0% APR offer for purchases and balance transfers for the first 15 months
- No annual fee
- Direct Link To $200 Offer
Blue Cash EveryDay Card from American Express
The Blue Cash EveryDay Card from American Express is another excellent choice if you’re looking for a 0% APR card. The intro 0% APR period is a full 15 months, which is same as what is offered by the Chase Freedom and Freedom Unlimited cards. The 0% APR is for both balance transfers and new purchases. Balance transfers will incur a 3% fee.
The card also has a welcome offer of $150 if you spend $1,000 or more in net purchases within the first 3 months of card membership. The award earning structure offered by the Blue Cash Everyday is also very good for a card without an annual fee.
Here is the current welcome offer and benefits of the Blue Cash EveryDay Card:
- Welcome offer of $150 cash back after making $1,000 in net purchases within your first 3 months of card membership
- 3% cash back at U.S. supermarkets (up to $6,000 per year)
- 2% cash back at U.S. gas stations and select U.S. department stores
- 1% cash back on all other purchases
- 0% intro APR on purchases and balance transfers (must be requested within the first 60 days) for 15 months
- No annual fee
- Learn More
Click Here to compare current 0% APR offers
Chase Slate
No list of best 0% APR credit cards would be complete without this on it. The Chase Slate might be a completely overlooked card in award travel circles, but it is a great product if you’re looking to avoid interest. There is no welcome offer, nor an annual fee.
With a full 15 months of 0% APR on both purchases and balance transfers, the Chase Slate has you covered. Even better: the balance transfer fee is $0 for the first 60 days your account is open! No fees at all make this the most compelling card for consolidating debt.
Here is the current offer and benefits of the Chase Slate:
- No welcome offer and no annual fee
- 0% APR on balance transfers and purchases for the first 15 months
- $0 fee for balance transfers made within the first 60 days after account opening. After this, 5% with a minimum of $5.
- Direct Link
Click Here to compare current 0% APR offers
Honorable Mention: Wells Fargo Propel Card
The Wells Fargo Propel Card (learn more) is another great card that not only offers 0% APR on both purchases and balance transfers for the first 12 months, but it offers good award earning potential as well. You earn 3x points for purchases in several common categories, which is excellent for a card with no annual fee.
Balance transfer fees are 3% of the transfer amount if you make the transfer within the first 120 days of account opening. After that, the fee increases to 5% of the balance.
Here is the current welcome offer and benefits of the Wells Fargo Propel Card:
- Intro offer of 30,000 points after spending $3,000 within the first 3 months
- 3x points on airfare, hotels, car rentals, gas, ride-share, and restaurants
- 1x points on everything else
- Cell phone protection
- No foreign transaction fees
- Learn More
Other Best 0% APR Credit Cards
There are several other cards that offer 0% APR for the first 12-15 months and no annual fee. The Capital One Quicksilver Cash Rewards Credit Card offers 0% APR for 15 months on both balance transfers and purchases. The card also comes with a welcome offer of $150 after spending $500, earns 1.5% cash back on all purchases, and doesn’t have an annual fee.
Wells Fargo has a second option with their Wells Fargo Cash Wise Visa card, which offers 0% APR on balance transfers for the first 15 months. The welcome offer is $150 in cash rewards after spending $500 in the first 3 months.
Finally, if you don’t mind an annual fee, the American Express Blue Cash Preferred is an excellent card for multiple reasons. It made our list of best cards for both gas and grocery, but it also offers a 0% introductory APR for the first 12 months on balance transfers.
Click Here to compare current 0% APR offers
The Best 0% APR Credit Cards – Final Thoughts
If you have need of a 0% APR introductory card offer, look no further than any of these options. Whether you’re looking to transfer a balance and pay down your debt or to give yourself time to pay off a large purchase, at least one of the best 0% APR credit cards should meet your need.
Other posts in this series:
- 5 Best Credit Cards for Grocery Shopping
- The 5 Best Card for Gas Purchases
- 5 Best Credit Cards for Everyday Spending
- The 5 Best Travel Credit Cards
- 5 Best Credit Cards with No Annual Fee
- The 5 Best Small Business Credit Cards with No Annual Fee
- 5 Best Gas and Grocery Powerhouse Cards
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Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
