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Imagine if you could buy a new fancy $8,000 French-door fridge on your credit card, spread out the payments over the next 12 months, and not pay a single cent in interest.
That's exactly what 0% APR offers allow you to do.
Even better… Some 0% intro APR credit cards let you transfer over your existing high-interest credit card debt, giving you a chance to wipe out debt faster and save big on interest. These are usually called balance transfer cards.
I've seen firsthand how powerful 0% APR tools can be. Both helping friends finance an emergency without extra cost, or finally get ahead on a mountain of credit card debt.
What does 0% APR actually mean?
APR stands for annual percentage rate. It's just a fancy way of saying how much interest you're going to be charged for borrowing money.
If a card or loan has "0% APR", it means you're paying no interest.
But there's always a time limit attached. The 0% deal doesn't last forever. Each card has its own terms and promo periods. Once the promotional period ends, the standard APR kicks in (and it can be much higher than you expect).
Types of 0% APR offers
Credit card companies typically offer two types of 0% APR promotions. These are usually offered on the same card, but sometimes just one type of intro APR is offered.
1. 0% intro APR on new purchases
For credit cards offering 0% intro APR on new purchases, this means you can buy new things during the intro period and pay no interest for a set time.
These cards are great for people who have a massive purchase to make, and want to spread payments out over time. For example, paying for a $5,000 car repair and paying it off over six months.
2. 0% intro APR on balance transfers
This lets you move high-interest debt (like from another credit card) to a new card and pay no interest during the promo period.
Balance transfer cards are awesome tools to help people get out of debt! You can transfer a balance from a super-high APR card, then pay no interest for the full promo period. And they can also be used to consolidate multiple small balances into one big one for easier payments.
Note: Most 0% balance transfer cards charge a balance transfer fee. A fee of 3% to 5% of the transferred amount is most common.
Credit card comparison
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Best for cash back on rotating categories
Discover will match all the cash back you’ve earned at the end of your first year.
INTRO OFFER: Unlimited Cashback Match for all new cardmembers–only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
1% - 5% Cashback
Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
Best for unlimited rewards on purchases
25,000 points
25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases
1.5-3 points per dollar
Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open. Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center.
Intro:
0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers. Balance transfers
may not be used to pay any account provided by Bank of America.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
4.80/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair
= Poor
$200 cash back
$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
1% - 6% cash back
Earn 6% cash back for the first year in the category of your choice, 2% cash back at grocery stores and wholesale clubs, and unlimited 1% cash back on all other purchases. Earn 6% and 2% cash back on the first $2,500 in combined purchases each quarter in the choice category, and at grocery stores and wholesale clubs, then earn unlimited 1% thereafter. After the first year from account opening, you’ll earn 3% cash back on purchases in your choice category and 2% cash back at grocery stores and wholesale clubs up to the quarterly maximum.
Intro:
0% Intro APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the Intro APR offer ends, a Variable APR that’s currently 18.24% - 28.24% will apply. A 3% Intro balance transfer fee will apply for the first 60 days your account is open. After the Intro balance transfer fee offer ends, the fee for future balance transfers is 4%. Balance transfers may not be used to pay any account provided by Bank of America.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Suppose you open a card offering 0% APR for 15 months on purchases, and you charge $7,500 to it in month one.
If you make payments of $500 each month and pay off the full $7,500 before month 15 ends -- you've paid zero interest.
But if there's a balance left when the promo period ends, the card's regular APR (say, 21.99%) kicks in. This interest rate will apply to whatever is left.
For balance transfers, it's almost the same process. Except instead of making new payments on the credit card, you'll transfer over an existing balance from another card.
The balance transfer fee (usually 3% to 5%) will apply as soon as the balance moves to the new card. Then as long as you make payments each month and fully pay off the balance within the promo period, you'll pay zero interest!
Pretty powerful, right?
Pros and cons of 0% intro APR credit cards
You might be thinking, "this sounds too good to be true!" And you're not wrong. These cards can be a game-changer for paying no interest.
But they're a double-edged sword. Use them right, and you'll save a ton. Use them wrong, and they could set you back big time. Here's a breakdown of the biggest pros and cons.
Pros
No interest during the promo period
Great for large purchases or debt payoff
Can help improve cash flow or bridge a gap
Cons
Offers are temporary
High penalty APRs if you miss a payment
Balance transfer fees may apply
Tempting to overspend
What happens when the 0% period ends?
At the end of the 0% APR promo period, a standard APR will apply. The rate varies like any credit card. It could be anywhere between 18% to maybe upwards of 30%.
If you still have a balance at that time, interest is charged on the remaining amount from that point forward.
Note: Some cards also apply deferred interest. This is when interest is retroactively charged if the full balance isn't paid off by the end of the promo. This is more common with store credit cards -- so check the terms carefully.
How to make the most of a 0% intro APR offer
Paying no interest can be a slippery slope. If you don't have the discipline to pay off your balance within the 0% APR period, you could end up in trouble later.
To avoid getting caught in this trap, you'll want to use a 0% intro APR card responsibly and effectively. Here are a few notes and guidelines:
Make a payoff plan before you even swipe or do a balance transfer
Divide your whole balance by the promo period to stay on track (e.g. $6,000 divided by 12 months = $500 per month payments)
Automate those payments to avoid late fees
Don't use the card for new purchases unless it's still within the 0% window
Mark your calendar for when the promo ends!
Towards the end of your promo period, don't be surprised if your lender starts sending you additional offers for extensions, or other cards.
Remember to stick to your payoff strategy -- the goal is to be debt-free before the 0% APR period ends.
Should you get a 0% intro APR credit card?
Credit cards are tools. How you use those tools can either help your finances or wreck them.
A 0% intro APR card can be an amazing opportunity to pay no interest for a long time. But you should only get one if you're planning to use it responsibly.
They're a great fit if you have a plan to pay off your balance before the intro period ends, or if you're looking to refinance high-interest debt and save on interest.
0% intro APR cards are especially helpful for planned purchases or emergency expenses you can repay over time.
But, if you tend to carry a balance, make minimum payments, or overspend, a 0% card could end up costing you more in the long run once the regular APR kicks in.
Bottom line: A 0% intro APR card isn't "free money." But it can buy you time and save you serious cash if you stay disciplined.
Yes, you always need to make minimum payments just like a regular credit card. If you miss a payment, you might actually lose the 0% promo offer altogether.
Probably not. Unfortunately, most 0% intro APR cards are offered to people with good to excellent credit (FICO® Score of 670 or higher). If your score is below this, you should try building your score up before applying or getting a secured credit card.
You won't be able to transfer a balance larger than the card's actual credit limit. So if you only get approved for a $5,000 limit on the 0% intro APR card, that's the max you can transfer over, including any fees.
Some cards offer 0% intro APR on both, but not all do. And sometimes they offer different promo lengths for new purchases vs. balance transfers. That's why it's super important to shop around for the best card that meets your specific situation.
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