Even while credit cards are notorious for having higher interest rates than many other financial products, some of them offer promotional 0% APR periods during which you can make purchases, make balance transfers, or do both without paying interest.
When comparing 0% APR cards, keep in mind that some lack rewards programmes and other incentives and might not be very useful once the initial period has over.
In this article we have tried to showcase all the best credit card 0 interest on purchases.
What Is A Credit Card With 0% Interest?
It is good to have the best credit card 0 interest on purchases. Consolidating current credit card debt or making a significant purchase can both benefit from a credit card with a 0% APR. These credit cards provide interest-free periods, which normally last anywhere from six months to over two years and don’t apply to either debt transfers or purchases.
After the introductory period expires, the card’s standard APR will take effect, and any outstanding balance will be subject to interest charges. However, not all 0% APR offers are created equal, so it’s important to read the fine print before applying for a new credit card.
Even though the offer may state in large, bold type that it offers a “0% APR,” it may be referring to the rate on purchases, balance transfers, or both.
This is the rate of interest that you pay on purchases. Make sure the 0% offer covers purchases as well as balance transfers if you plan to use a 0% card to fund a sizable buy. If a card offers 0% APR on both purchases and debt transfers, keep in mind that the length of the 0% period may vary for each.
Benefits Of Carrying A Credit Card With 0% Interest
Here are just a few of the many advantages the best credit card 0 interest on purchases can provide for you:
1. No Interest For A Specific Time Frame: During the introductory period, you won’t be charged any interest on purchases. For purchases and occasionally balance transfers, the majority of credit card offers span from six to 18 months without interest.
2. Ideal For Substantial Purchases: A 0% APR credit card is a tremendous benefit if you want to make a sizable purchase but need some time to pay it off, like a television or vacation. You are permitted to carry a balance for a brief period of time and spread out payments without being charged interest.
3. Reducing Balances With High Interest Rates: You can move high-interest credit card debt to a credit card with a 0% introductory APR on balance transfers if you currently have one. This allows you a window of time during which no interest will be charged on your balance, allowing all of your payments to be applied directly to the debt. As a result, you can reduce debt more quickly.
Best Credit Cards With 0% Interest On Purchases
|Card Name||Welcome Bonus||Credit Score|
|Wells Fargo Active Cash Card||$200 cash rewards||Excellent, Good|
|Chase Freedom Flex||$200 bonus||Excellent, Good|
|Amex EveryDay Credit Card||Earn 10,000 points||Excellent, Good|
|Capital One Venture One Rewards Credit card||20,000 miles||Excellent, Good|
Closer Look To The Cards
1. Wells Fargo Active Cash Card
It is simple to understand why the Wells Fargo Active Cash® Card is unrivaled. It competes with the other top flat-rate cash-back cards available thanks to its infinite 2% cash rewards on purchases. This card is among the best credit card 0 interest on purchases. The card also has a respectable 0% APR offer, which makes it our top choice in this category.
Annual Fee: $0
Offer for introductory APR: Receive a 0% introductory APR on purchases and eligible balance transfers for 15 months from account activation. After that, a variable APR of 17.99%, 22.99%, or 27.99% will be applied. Within 120 days, balance transfers are eligible for the introductory rate and fee of 3%, after which a fee of up to 5%, with a minimum of $5, is applied.
2. Chase Freedom Flex
Almost all of your credit card spending requirements can be handled by the Chase Freedom FlexSM without incurring excessive costs. The card comes with a beefed-up earnings structure that covers a wide range of spending in addition to a substantial rewards structure, and it has no annual fee.
Annual Fee: $0
Intro APR offer: Purchases and balance transfers are eligible for a 15-month introductory APR offer of 0%; after that, a variable APR ranging from 17.24% to 25.99% will be in effect. The initial balance transfer cost is $5 or 3% of each transfer’s value, whichever is larger, for the first 60 days. Thereafter, the price is $5 or 5% of each transfer’s value, whichever is greater.
3. Amex Everyday Credit Card
The Amex EveryDay® Credit Card* offers a respectable 2 Membership Rewards points for every dollar spent at US supermarkets on up to $6,000 in annual purchases (then 1X), 2 points for every dollar spent when using the card to make travel arrangements through American Express Travel, and 1 point for every dollar spent on all other eligible purchases.
Additionally, you can earn 20% more points on purchases made with the card when you use it 20 or more times in a billing cycle. Additionally, there is no annual cost for this method of earning Membership Rewards, which can be used with airline and hotel partners.
Annual Fee: $0
Intro APR Offer: Get a 15-month period of 0% introductory interest on purchases and balance transfers, followed by a variable interest rate of 15.99% to 26.99%.
4. Capital One Ventureone Rewards Credit Card
The Capital One VentureOne Rewards Credit Card may satisfy those who don’t like yearly fees or other gimmicks. The card gains additional considerable value from the plethora of supplementary benefits included with most Capital One cards.
Earning 5 miles for every dollar spent on hotels and rental cars booked through Capital One Travel and 1.25 miles for every dollar spent on all other purchases.
Annual Fee: $0
Intro APR offer: Get a 0% introductory APR on purchases and debt transfers for 15 months; after that, the APR ranges from 17.99% to 27.99% and there is a 3% fee on transfers made within the first 15 months.
Frequently Asked Question
1) What is a purchase APR?
Ans. The annual percentage rate, or APR, on a purchase is the amount of interest you’ll accrue if you carry a debt from month to month on your credit card. When you are approved for your card, the APR should be made very obvious. You can also find the APR on your monthly statement in the section that explains how the interest for that billing cycle was computed.
2) How can I get 0% APR on an exciting credit card?
Ans. However, some best credit card 0 interest on purchases are sent to current cardholders via postal mail or through their online accounts. You will probably need to obtain a new credit card in order to take advantage of one of these offers if you are not a target for the offer and are interested in 0% APR on purchases or balance transfers.
3) What is the purchase interest charge?
Ans. Any interest you pay on purchases made with your credit card is known as a purchase interest charge. For instance, if your credit card’s APR is 20% and you spend $1,000 on a new couch, you would accrue an additional $200 in interest fees if you didn’t make a single payment on your card during that time.