In the right hands, a 0% APR credit card is a helpful tool for those who want to pay down debt without facing sky-high interest rate. If you’ve always wanted to update your home entertainment center, you can use these cards to pay down the expense. Just be sure to spend and pay down your balance responsibly—once the zero-APR introductory period is over, your actual annual percentage rate will be determined by how responsibly you used your card. We’ve looked high and low for the best credit cards with zero APR. Here are our top four picks!
Chase Freedom: 0% APR for 15 months
The Chase Freedom card offers a 0% APR special for 15 months on not only purchases but also balance transfers. After 15 months, you’ll have an APR of 13.99% to 22.99%. This 0% APR period is longer than most of its competitors and the benefits don’t end here. You get unlimited 1% cash back on all of your purchases in addition to 5% back on qualifying purchases (up to $1,500) in rotating bonus categories. There’s no annual fee, either. Can this card get any better?
Citi Simplicity Card: 0% APR for 21 months
Although the Chase Freedom card gave you three months more than the usual 0% APR period, the Citi Simplicity card blows the competitors out of the water with a whopping 21 months of zero APR on all purchases and balance transfers. There isn’t an annual fee, and within those 21 months, you won’t receive any late fees or penalty APR increases. It falls short due to the lack of rewards and cash back incentives. After the nearly two-year period, you’ll be given an APR between 12.99% and 22.99%.
American Express Amex Everyday Card: 0% APR for 15 months
The Amex Everyday card comes with a lot of rewards and a high late penalty. If you spend a lot at the grocery store, this is the card you should be using; you’ll get 2x membership rewards points on up to $6,000 in grocery purchases over the course of a year. And if you spend $1,000 within three months of owning the card, you’ll receive 10,000 rewards points. These points can be used towards your next flight, hotel or cruise. With a 0$ annual fee and all of these rewards, the only disadvantage lies in the steep APR penalty for late payments. Pay on time or face the six-month long punishment.
Discover It: 0% APR for six months
With the shortest 0% APR grace period on our list, the Discover It card earned a spot thanks to its great introductory rewards. You only get 6 months of 0% APR on purchases (and 18 months of 0% APR on balance transfers; after that, you get between 10.99% and 22.99% APR based on your creditworthiness. However, for the first year of owning the card, you get double cash back. There’s no penalty APR and your first late payment won’t come with any punishments. You’ll also get 5% back on purchases (up to $1,500) within rotating bonus categories. There isn’t an annual fee, either.