Your credit card’s annual percentage rate, or APR, determines how quickly interest accrues on any balance you carry from month to month. And each time the Federal Reserve hikes interest rates, credit card debt grows more expensive. The average credit card interest rate as of May 3, 2023 was 20.24%, according to CNET sister-site Bankrate.
However, some credit cards offer 0% APR introductory periods that help you avoid interest charges entirely for a set amount of time. These promotional periods can help finance a large, planned purchase or improve your finances by transferring a balance from one card to another, and then paying it down while it accrues no interest.
A balance transfer card can help you get out of debt more quickly while also saving you money by avoiding interest charges. Just have a plan in place to pay it off before the introductory period ends. Otherwise, your balance will begin to accrue interest at the card’s standard rate.
Take a look at our top choices for 0% introductory APR cards and how best to use them.
- Intro Offer
-
No current offer
- Annual fee
- $0
- APR
- 17.99% – 29.99% variable APR
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
670 – 850
Good – Excellent
- Rewards rate
-
N/A This card doesn’t offer cash back, miles, or points
The Wells Fargo Reflect® Card offers a very long introductory APR. Cardholders get 21 months from account opening of 0% introductory APR on purchases and qualifying balance transfers (17.99% to 29.99% variable APR thereafter), so long as any transfers are initiated within 120 days from account opening.
It’s one of the longest promotional periods on the market. However, it also carries the highest possible balance transfer fee of 5% ($5 minimum).
Check out our full review of the Wells Fargo Reflect® Card.
- Intro Balance Transfer APR
- 0% intro APR for 21 months from account opening on qualifying balance transfers
- Intro Purchase APR
- 0% intro APR for 21 months from account opening
- Regular APR
- 17.99% – 29.99% variable APR
- Balance Transfer Fee
- 5%; min: $5
The Wells Fargo Reflect® Card offers a very long introductory APR. Cardholders get 21 months from account opening of 0% introductory APR on purchases and qualifying balance transfers (17.99% to 29.99% variable APR thereafter), so long as any transfers are initiated within 120 days from account opening.
It’s one of the longest promotional periods on the market. However, it also carries the highest possible balance transfer fee of 5% ($5 minimum).
Check out our full review of the Wells Fargo Reflect® Card.
- Intro Balance Transfer APR
- 0% intro APR for 21 months from account opening on qualifying balance transfers
- Intro Purchase APR
- 0% intro APR for 21 months from account opening
- Regular APR
- 17.99% – 29.99% variable APR
- Balance Transfer Fee
- 5%; min: $5
- Intro Offer
-
$200 cash rewards Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months
- Annual fee
- $0
- APR
- 19.99%, 24.99%, or 29.99% variable APR
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
670 – 850
Good – Excellent
- Rewards rate
-
2% Earn unlimited 2% cash rewards on purchases
You can take advantage of cash rewards on top of the introductory APR on your purchases with the Wells Fargo Active Cash® Card. While the 0% introductory APR on purchases and qualifying balance transfers lasts for 15 months from account opening (then a 19.99%, 24.99% or 29.99% variable APR), the 2% cash rewards apply to those purchases and beyond. While you might be able to earn higher rewards rates in individual categories with other cards, this is one of the best credit cards for everyday spending. The cash rewards and welcome offer make up for this being a slightly shorter introductory APR period than some of the other picks.
For more details, see our full review of the Wells Fargo Active Cash Card.
- Intro Balance Transfer APR
- 0% intro APR for 15 months from account opening on qualifying balance transfers
- Intro Purchase APR
- 0% intro APR for 15 months from account opening
- Regular APR
- 19.99%, 24.99%, or 29.99% variable APR
- Balance Transfer Fee
- up to 5%; min: $5
You can take advantage of cash rewards on top of the introductory APR on your purchases with the Wells Fargo Active Cash® Card. While the 0% introductory APR on purchases and qualifying balance transfers lasts for 15 months from account opening (then a 19.99%, 24.99% or 29.99% variable APR), the 2% cash rewards apply to those purchases and beyond. While you might be able to earn higher rewards rates in individual categories with other cards, this is one of the best credit cards for everyday spending. The cash rewards and welcome offer make up for this being a slightly shorter introductory APR period than some of the other picks.
For more details, see our full review of the Wells Fargo Active Cash Card.
- Intro Balance Transfer APR
- 0% intro APR for 15 months from account opening on qualifying balance transfers
- Intro Purchase APR
- 0% intro APR for 15 months from account opening
- Regular APR
- 19.99%, 24.99%, or 29.99% variable APR
- Balance Transfer Fee
- up to 5%; min: $5
- Intro Offer
-
No current offer
- Annual fee
- $0
- APR
- 15.74% – 25.74% Variable APR on purchases and balance transfers
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
670 – 850
Good – Excellent
- Rewards rate
-
N/A This card doesn’t offer cash back, miles, or points
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
The BankAmericard® credit card not only has one of the longest balance transfer offers, but it also offers a lower balance transfer fee than other balance transfer credit cards.
Cardholders will have an introductory 0% APR offer for purchases and balance transfers for 21 billing cycles (then 15.74% to 25.74% variable) with a balance transfer fee of 3% of the amount of each transaction.
You’ll need to make any balance transfers within the first 60 days of account opening, but you’ll have 21 billing cycles to pay it down. A 3% fee may sound painful, but it will sting far less considering how much money you’d likely spend on interest charges by letting a balance accrue interest on another card.
For more information, see our full review of the BankAmericard credit card.
- Intro Balance Transfer APR
- 0% Intro APR for 21 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 21 billing cycles for purchases
- Regular APR
- 15.74% – 25.74% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
The BankAmericard® credit card not only has one of the longest balance transfer offers, but it also offers a lower balance transfer fee than other balance transfer credit cards.
Cardholders will have an introductory 0% APR offer for purchases and balance transfers for 21 billing cycles (then 15.74% to 25.74% variable) with a balance transfer fee of 3% of the amount of each transaction.
You’ll need to make any balance transfers within the first 60 days of account opening, but you’ll have 21 billing cycles to pay it down. A 3% fee may sound painful, but it will sting far less considering how much money you’d likely spend on interest charges by letting a balance accrue interest on another card.
For more information, see our full review of the BankAmericard credit card.
- Intro Balance Transfer APR
- 0% Intro APR for 21 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 21 billing cycles for purchases
- Regular APR
- 15.74% – 25.74% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
- Intro Offer
-
No current offer
- Annual fee
- $0
- APR
- 19.49% – 29.49% (Variable)
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
670 – 850
Good – Excellent
- Rewards rate
-
N/A This card doesn’t offer cash back, miles, or points
The U.S. Bank Visa Platinum Card is a great card for a balance transfer, with 18 billing cycles of 0% intro APR on purchases and balance transfers. (Remember you still need to make minimum monthly payments, though: 19.49% to 29.49% variable APR thereafter.) The trade-off is a lack of welcome bonus and rewards, but there’s no annual fee either.
For more details, see our full review of the U.S. Bank Visa Platinum Card.
- Intro Balance Transfer APR
- 0% intro APR for 18 billing cycles on balance transfers
- Intro Purchase APR
- 0% intro APR for 18 billing cycles on purchases
- Regular APR
- 19.49% – 29.49% (Variable)
- Balance Transfer Fee
- Either 3% of the amount of each transfer or $5 minimum, whichever is greater
The U.S. Bank Visa Platinum Card is a great card for a balance transfer, with 18 billing cycles of 0% intro APR on purchases and balance transfers. (Remember you still need to make minimum monthly payments, though: 19.49% to 29.49% variable APR thereafter.) The trade-off is a lack of welcome bonus and rewards, but there’s no annual fee either.
For more details, see our full review of the U.S. Bank Visa Platinum Card.
- Intro Balance Transfer APR
- 0% intro APR for 18 billing cycles on balance transfers
- Intro Purchase APR
- 0% intro APR for 18 billing cycles on purchases
- Regular APR
- 19.49% – 29.49% (Variable)
- Balance Transfer Fee
- Either 3% of the amount of each transfer or $5 minimum, whichever is greater
- Intro Offer
-
No current offer
- Annual fee
- $0
- APR
- 19.74% – 28.49% Variable
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
670 – 850
Good – Excellent
- Rewards rate
-
N/A This card doesn’t offer cash back, miles, or points
The Chase Slate Edge℠ offers a full 18 months of 0% introductory APR on both purchases and balance transfers (19.74% to 28.49% variable APR thereafter), beating out most other cards with intro APR offers. Beyond those 18 months, you’ll have the option to utilize My Chase Plan® on qualifying purchases of at least $100. With this program, you are able to spread out your payments in monthly installments for no interest -- the catch is a flat monthly fee of 1.72%. But it is important to note that this fee can end up being very costly, on par with a higher APR if your balance remains unpaid.
See our full review of the Chase Slate Edge for more details.
- Intro Balance Transfer APR
- 0% Intro APR on Balance Transfers for 18 months
- Intro Purchase APR
- 0% Intro APR on Purchases for 18 months
- Regular APR
- 19.74% – 28.49% Variable
- Balance Transfer Fee
- Either $5 or 5% of the amount of each transfer, whichever is greater.
The Chase Slate Edge℠ offers a full 18 months of 0% introductory APR on both purchases and balance transfers (19.74% to 28.49% variable APR thereafter), beating out most other cards with intro APR offers. Beyond those 18 months, you’ll have the option to utilize My Chase Plan® on qualifying purchases of at least $100. With this program, you are able to spread out your payments in monthly installments for no interest -- the catch is a flat monthly fee of 1.72%. But it is important to note that this fee can end up being very costly, on par with a higher APR if your balance remains unpaid.
See our full review of the Chase Slate Edge for more details.
- Intro Balance Transfer APR
- 0% Intro APR on Balance Transfers for 18 months
- Intro Purchase APR
- 0% Intro APR on Purchases for 18 months
- Regular APR
- 19.74% – 28.49% Variable
- Balance Transfer Fee
- Either $5 or 5% of the amount of each transfer, whichever is greater.
Bank of America® Customized Cash Rewards credit card
- Intro Offer
-
$200 $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
- Annual fee
- $0
- APR
- 17.74% – 27.74% Variable APR on purchases and balance transfers
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
670 – 850
Good – Excellent
- Rewards rate
-
1% – 3% Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).; Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).; Earn unlimited 1% on all other purchases.
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
The Bank of America® Customized Cash Rewards credit card gives you more control over how you earn rewards than most credit cards and provides a solid introductory APR offer.
Its intro purchase APR is likely going to be of more use here over its balance transfer opportunity, considering the card’s strong rewards. You’re able to make purchases and then pay them down at a 0% introductory APR for 18 billing cycles before the standard APR of 17.74% to 27.74% (variable) applies.
For no annual fee, you can choose to earn rewards for gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. Online shopping and home improvement purchases are rare bonus categories to find. However, the card is held back a bit by its spending cap, but if you’re a smaller spender, it’s certainly a viable option.
You can read more in our Bank of America Customized Cash Rewards card review.
- Intro Balance Transfer APR
- 0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 18 billing cycles for purchases
- Regular APR
- 17.74% – 27.74% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
The Bank of America® Customized Cash Rewards credit card gives you more control over how you earn rewards than most credit cards and provides a solid introductory APR offer.
Its intro purchase APR is likely going to be of more use here over its balance transfer opportunity, considering the card’s strong rewards. You’re able to make purchases and then pay them down at a 0% introductory APR for 18 billing cycles before the standard APR of 17.74% to 27.74% (variable) applies.
For no annual fee, you can choose to earn rewards for gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. Online shopping and home improvement purchases are rare bonus categories to find. However, the card is held back a bit by its spending cap, but if you’re a smaller spender, it’s certainly a viable option.
You can read more in our Bank of America Customized Cash Rewards card review.
- Intro Balance Transfer APR
- 0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 18 billing cycles for purchases
- Regular APR
- 17.74% – 27.74% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
- Intro Offer
-
No current offer
- Annual fee
- $0
- APR
- 17.99% – 28.74% (Variable)
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
670 – 850
Good – Excellent
- Rewards rate
-
N/A This card doesn’t offer cash back, miles, or points
The Citi Diamond Preferred offers cardholders a significant amount of time to pay down a transferred balance, but it’s held back by its high balance transfer fee.
Cardholders have a solid 21 months to pay down any balance they transfer at 0% introductory APR (then 17.99% to 28.74% (variable)) but they’ll first need to pay a balance transfer fee of 5% ($5 minimum). The standard balance transfer fee is 3%, so you’ll end up paying a bit more with the Diamond Preferred Card than most other balance transfer credit cards.
Despite the lack of rewards, there’s also an intro purchase APR you could take advantage of to finance a large, planned purchase. However, the introductory APR on purchases is significantly shorter.
You can learn more about the card in our Citi Diamond Preferred review.
- Intro Balance Transfer APR
- 0% for 21 months on Balance Transfers
- Intro Purchase APR
- 0% for 12 months on Purchases
- Regular APR
- 17.99% – 28.74% (Variable)
- Balance Transfer Fee
- Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
The Citi Diamond Preferred offers cardholders a significant amount of time to pay down a transferred balance, but it’s held back by its high balance transfer fee.
Cardholders have a solid 21 months to pay down any balance they transfer at 0% introductory APR (then 17.99% to 28.74% (variable)) but they’ll first need to pay a balance transfer fee of 5% ($5 minimum). The standard balance transfer fee is 3%, so you’ll end up paying a bit more with the Diamond Preferred Card than most other balance transfer credit cards.
Despite the lack of rewards, there’s also an intro purchase APR you could take advantage of to finance a large, planned purchase. However, the introductory APR on purchases is significantly shorter.
You can learn more about the card in our Citi Diamond Preferred review.
- Intro Balance Transfer APR
- 0% for 21 months on Balance Transfers
- Intro Purchase APR
- 0% for 12 months on Purchases
- Regular APR
- 17.99% – 28.74% (Variable)
- Balance Transfer Fee
- Balance transfer fee applies with this offer 5% of each balance transfer; $5 minimum.
- Intro Offer
-
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.
- Annual fee
- $0
- APR
- 17.74% – 27.74% Variable APR on purchases and balance transfers
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
670 – 850
Good – Excellent
- Rewards rate
-
1.5x 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.
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
With no annual fee, the Bank of America® Travel Rewards credit card is a great starter travel credit card.
There aren’t any foreign transaction fees, which will essentially save you 3% of each transaction you make abroad. And if you use it for a planned trip, you can pay the trip off at 0% introductory interest for 18 billing cycles before the standard APR of 17.74% to 27.74% (variable) kicks in.
There’s also a balance transfer offer for the same time period for any transfers made within 60 days of account opening (with a fee of 3% of the amount of each transaction). It doesn’t offer many travel amenities like travel cards at a higher price-point, but it’s a good card to use before moving on to more advanced credit cards.
Learn more in our Bank of America Travel Rewards card review.
- Intro Balance Transfer APR
- 0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 18 billing cycles for purchases
- Regular APR
- 17.74% – 27.74% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
With no annual fee, the Bank of America® Travel Rewards credit card is a great starter travel credit card.
There aren’t any foreign transaction fees, which will essentially save you 3% of each transaction you make abroad. And if you use it for a planned trip, you can pay the trip off at 0% introductory interest for 18 billing cycles before the standard APR of 17.74% to 27.74% (variable) kicks in.
There’s also a balance transfer offer for the same time period for any transfers made within 60 days of account opening (with a fee of 3% of the amount of each transaction). It doesn’t offer many travel amenities like travel cards at a higher price-point, but it’s a good card to use before moving on to more advanced credit cards.
Learn more in our Bank of America Travel Rewards card review.
- Intro Balance Transfer APR
- 0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 18 billing cycles for purchases
- Regular APR
- 17.74% – 27.74% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
- Intro Offer
-
$200 $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
- Annual fee
- $0
- APR
- 17.74% – 27.74% Variable APR on purchases and balance transfers
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
670 – 850
Good – Excellent
- Rewards rate
-
1.5% Earn unlimited 1.5% cash back on all purchases.
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
The Bank of America® Unlimited Cash Rewards credit card keeps it simple. Make your purchases with the card to earn 1.5% cash back. If you have any planned trips or large purchases coming up, you can charge it to the card and pay it down at 0% introductory APR for 18 billing cycles, then 17.74% to 27.74% (variable).
The same offer applies to any balance transfers made within 60 days of account opening, with a balance transfer fee of 3% of the amount of each transaction. It’s an inexpensive option for general spenders looking to either mitigate credit card debt or avoid interest charges on a planned purchase.
- Intro Balance Transfer APR
- 0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 18 billing cycles for purchases
- Regular APR
- 17.74% – 27.74% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
This online only offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.
The Bank of America® Unlimited Cash Rewards credit card keeps it simple. Make your purchases with the card to earn 1.5% cash back. If you have any planned trips or large purchases coming up, you can charge it to the card and pay it down at 0% introductory APR for 18 billing cycles, then 17.74% to 27.74% (variable).
The same offer applies to any balance transfers made within 60 days of account opening, with a balance transfer fee of 3% of the amount of each transaction. It’s an inexpensive option for general spenders looking to either mitigate credit card debt or avoid interest charges on a planned purchase.
- Intro Balance Transfer APR
- 0% Intro APR for 18 billing cycles for any BTs made in the first 60 days. A 3% fee applies.
- Intro Purchase APR
- 0% Intro APR for 18 billing cycles for purchases
- Regular APR
- 17.74% – 27.74% Variable APR on purchases and balance transfers
- Balance Transfer Fee
- 3% of the amount of each transaction
- Intro Offer
-
No current offer
- Annual fee
- $0
- APR
- 9.99% to 21.49% (Variable)
- Recommended Credit A credit score is used to indicate an applicant’s credit worthiness and may provide guidance about account eligibility. It does not necessarily guarantee approval for any financial product.
-
670 – 850
Good – Excellent
- Rewards rate
-
N/A This card doesn’t offer cash back, miles, or points
The Union Bank Platinum Visa Credit Card* combines a competitive introductory APR length with the rare feature of an inexpensive balance transfer. Most credit cards will charge a fee when you transfer your balance -- usually 3% or 5% of the transaction -- which can add to the debt you need to pay off. But if you transfer a balance to the Union Bank Platinum card within the first 60 days of getting approved, you’ll pay no balance transfer fees (3% balance transfer fee with a $10 minimum thereafter). For both purchases and balance transfers, you’ll get 15 months from account opening to take advantage of the introductory APR (after that, you’ll be subject to a variable 9.99% – 21.49% APR).
- Intro Balance Transfer APR
- 0% Introductory APR for the first 15 months that your account is open.
- Intro Purchase APR
- 0% Introductory APR for the first 15 months that your account is open.
- Regular APR
- 9.99% to 21.49% (Variable)
- Balance Transfer Fee
- Either $10 or 3% of the amount of each balance transfer, whichever is greater.
The Union Bank Platinum Visa Credit Card* combines a competitive introductory APR length with the rare feature of an inexpensive balance transfer. Most credit cards will charge a fee when you transfer your balance -- usually 3% or 5% of the transaction -- which can add to the debt you need to pay off. But if you transfer a balance to the Union Bank Platinum card within the first 60 days of getting approved, you’ll pay no balance transfer fees (3% balance transfer fee with a $10 minimum thereafter). For both purchases and balance transfers, you’ll get 15 months from account opening to take advantage of the introductory APR (after that, you’ll be subject to a variable 9.99% – 21.49% APR).
- Intro Balance Transfer APR
- 0% Introductory APR for the first 15 months that your account is open.
- Intro Purchase APR
- 0% Introductory APR for the first 15 months that your account is open.
- Regular APR
- 9.99% to 21.49% (Variable)
- Balance Transfer Fee
- Either $10 or 3% of the amount of each balance transfer, whichever is greater.
Another balance transfer opportunity
Discover it® Balance Transfer
- Intro offer: All cash back earned at the end of your first 12 months will be matched
- APR: 16.74 percent to 27.74 percent variable.
- Intro purchase APR: 0% for the first six months
- Intro balance transfer APR: 0% for the first 18 months
- Recommended credit: Good to excellent
- Rewards rates: 5% cash back after activation on rotating categories each quarter (up to $1,500 in quarterly purchases, then 1%), 1% for all other purchases
- Annual fee: $0
For no annual fee, the Discover it® Balance Transfer* card also provides cardholders with a competitive opportunity to mitigate some of their existing credit card debt.
Cardholders will have an intro 0% APR for 18 months to pay down a transferred balance (then 16.74% to 27.74% variable.) with an intro balance transfer fee of 3% -- though this may reach up to 5% fee on future balance transfers (see terms).
How to Choose a 0% APR Credit Card
The most important feature to pay attention to when choosing a credit card with an introductory APR is the length of its APR offer. You’ll want to be sure you have enough time to pay off the transferred balance or large, planned purchases before it begins to accrue interest again.
A good way to find out if you’ll have enough time is to take the balance or purchase amount and divide it by the number of months you’ll have to pay it down.
Let’s say you plan to transfer a balance of $3,000 and have 18 months to pay it down. 3,000 divided by 18 is about 167. That means you’ll need to be able to pay at least $167 each month to pay down the balance in time.
You should also consider the fees that come with the card. Initiating a balance transfer typically requires you to pay a one-time balance transfer fee. There are credit cards without a balance transfer fee, but they usually don’t have as generous terms as balance transfer cards that do.
The industry standard balance transfer fee is about 3% -- if a card charges more than this, it likely isn’t the best choice. That said, paying a one-time fee will generally cost far less than paying continuous interest charges at a high APR.
For the most part, balance transfer credit cards don’t have many other perks, so consider pairing one with a rewards credit card, travel credit card or cash-back credit card. However, if you’re using a balance transfer card to repay debt, we recommend focusing on your debt before worrying about earning rewards. This can help you stay focused on your financial goals and avoid accumulating new debt in the process.
Types of credit card APRs
Credit cards have five different types of APRs. There’s the standard purchase APR, a balance transfer APR, a penalty APR, a cash advance APR and an introductory APR. Not all cards will have all these APRs, and you can find the details of your specific card’s APRs in the cardholder agreement.
The one you’ll likely deal with the most is the purchase APR, which determines the rate at which the purchases you make accrue interest. The second most important is the balance transfer APR. That applies to any balance you transfer from another card. Both of these categories can be impacted by an introductory APR offer which typically drops one or both to 0% for a number of months.
The introductory APR is a promotional offer that usually runs from nine to 21 months, depending on the card. During this time, your new purchases, a transferred balance, or both won’t accrue any interest. After the 0% introductory APR period expires, your balances will be subject to the regular APR.
The penalty APR only applies if you miss a credit card payment and it’s typically higher than the card’s regular purchase APR. Your new purchases following the missed payment will accrue interest at the penalty rate. If you miss two payments, the higher APR will also be applied to your current statement balance. You’ll also be responsible for late fees.
A cash advance APR applies to a cash advance you take out against your line of credit and is typically higher than the card’s standard purchase APR. A cash advance usually isn’t worth it because of the high APR and the large fee it requires to do so.
Most APRs are variable, which means the rate may change. Changes to a variable APR occur because it is tied to the prime rate -- the interest rate banks charge their most creditworthy customers. The prime rate is affected by economic conditions, including changes to the federal funds rate set by the Federal Reserve. Your individual APR might also vary depending on your creditworthiness.
Is a 0% APR right for you?
If you’re struggling with credit card debt, an introductory 0% balance transfer APR could alleviate some of that pressure. Even if there is a balance transfer fee, it’ll be worth the cost when you consider your savings on interest charges.
If you have a planned, large purchase coming up and don’t have enough saved up to pay for it in cash, using an intro 0% purchase APR can let you finance it without racking up interest charges. Just be sure you can pay off the balance before the introductory APR period ends.
How to make the most of your 0% APR credit card
Use a 0% introductory APR card to mitigate credit card debt or to finance a planned purchase, but don’t let an introductory purchase APR encourage you to make any unnecessary purchases you otherwise wouldn’t have. And using a card for new purchases while trying to pay down a balance isn’t advised, as it’ll just take longer to pay it off.
Choosing a balance transfer credit card that offers rewards can be a good way to ensure lasting value once its promotional period ends. Closing credit cards can hurt your credit score and some issuers will close your card automatically if you go too long without using it, so a balance transfer card that can turn into your everyday rewards card once you’re done with the 0% intro APR offer can be a good pick.
You should always aim to make your payments on time with any credit card -- even if it’s just the minimum payment -- but it’s especially important when you’re taking advantage of a 0% introductory APR offer. In addition to late fees and other consequences, missing a payment could also cause you to lose your introductory APR period, as will violating any terms of your credit card agreement.
Should you get a 0% APR credit card or a debt consolidation loan?
A 0% introductory APR balance transfer credit card is a great way to get rid of existing credit card debt, but it’s not the only way. Balance-transfer credit cards generally require good to excellent credit scores for approval, which means you typically need a FICO score of at least 670 to qualify.
Introductory balance-transfer offers also might not offer enough time to pay down a balance, depending on your balance amount and how much money you’re able to allocate to it each month.
A debt-consolidation loan presents another option. They can have lower credit requirements and provide greater time -- up to seven years -- for you to pay them off. And while it won’t be set at 0% interest, it will typically be much lower than the standard APR on a credit card. If you need more time to pay off a debt or can’t qualify for a balance-transfer card, a debt-consolidation loan could provide some relief.
How to apply for a 0% APR credit card
Follow these steps to apply for a 0% introductory APR credit card:
- Find the card that fits your needs. Whether to help finance a purchase or pay down existing credit card debt, choose a card that offers enough time to pay off your balance before the introductory APR period ends. And make sure that the 0% introductory APR offer applies to the type of transaction -- new purchases or balance transfers -- you’re making.
- Apply securely on the credit card issuer’s website. Take your time and provide the necessary financial and personal information. Any mistakes could result in a pending credit card application or denial.
- Initiate a balance transfer as soon as possible. Certain cards only offer the intro APR or intro balance transfer fee so long as you make any transfers within the first 60 to 120 days. Check your cardholder agreement for the details of your specific card’s offer.
- Pay off the balance within the given time limit. If you don’t, your balance will begin to accrue interest at the variable rate.
The bottom line
A credit card with an introductory 0% APR lets you avoid interest charges for a certain amount of time, which can give you some flexibility as you pay down a large balance from either a new purchase or a balance transfer of existing debt.
However, don’t let an introductory purchase APR entice you into overspending, and make sure you can pay down your full balance within the given timeframe. Remember to keep your card open after the introductory APR period ends to avoid any damage to your credit score from closing an old credit account. Finding a 0% introductory APR card that also offers good cash-back rewards is a great way to get ongoing value from the card.
FAQs
If you miss a payment, pay late or void your credit card agreement, the issuer could revoke your introductory APR. Check your cardholder agreement for details about the terms and conditions of your specific card’s offer.
Certain credit cards, like the Chase Slate Edge, may not allow you to extend the introductory 0% APR period but may lower the card’s regular APR if you meet certain conditions. Mostly, once your intro offer is up, there is no way to extend it. You can, however, apply for a different credit card with another balance transfer offer if your circumstances allow.
Like with any other credit card, missing a credit card payment will damage your credit score. However, a balance transfer credit card could help improve your credit score by eliminating your credit card debt. Getting rid of credit card debt will decrease your credit utilization. A lower credit utilization contributes to a healthier credit score.
Yes, you can have multiple credit cards with a 0% APR offer.
The longest 0% APR offer period is 21 months.
Credit card APRs are determined by the federal benchmark interest rate set by the Federal Reserve, economic factors, and your creditworthiness. So an APR your friend gets might not be the same as your own, depending on your income, credit score and other factors. Check out our article about good current credit card APRs for more details.
Generally speaking, it’s easier to qualify for a 0% APR credit card if you have good/excellent credit. Credit card issuers are losing out on money from interest charges by offering a 0% APR, so issuers typically want to be sure you’re responsible enough to pay off the debt.
Our methodology
CNET reviews credit cards by exhaustively comparing them across set criteria developed for each major category, including cash-back, welcome bonus, travel rewards and balance transfer. We take into consideration the typical spending behavior of a range of consumer profiles -- with the understanding that everyone’s financial situation is different -- and the designated function of a card.
More credit card recommendations
- Best Airline Credit Cards
- Best Secured Credit Cards
- Best Business Credit Cards
- Best Student Credit Cards
- Best Travel Credit Cards
- Best Credit Cards With No Balance Transfer Fees
*All information about the Union Bank Platinum Visa Credit Card and the Discover it Balance Transfer has been collected independently by CNET and has not been reviewed by the issuer.
The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.
