Top 5 Zero Percent Interest Credit Cards

People who want to consolidate debt or who are gearing up to make a big purchase would benefit greatly from a 0% interest credit card. Often, these no interest deals last for a year or more, depending on the card you choose. That’s a lot of time to pay off a chunk of your debt or purchase!

These five cards are great options of you’re looking to pay no interest for the next several months.

Chase Slate

Chase Slate does not charge a transfer fee when you transfer a balance within 60 days of opening the card. Often, credit cards charge between three and five percent to transfer a balance. Additionally, the 0% interest offer is for 15 months, not just twelve, and applies to both balance transfers as well as purchases. If you want to eliminate debt and make a big purchase, this card is an excellent option. If you have to make a payment late, you won’t have to pay a penalty APR (although it could affect your credit score, so always try to make your payments on time). Chase Slate will also let you check your FICO score every month for free. Another great advantage of this card is that there is no annual fee.

While Chase Slate has a lot of advantages, it does not have a rewards program. It’s better for consolidating debt and making big purchases than it is to use every day on your regular purchases. Also, you won’t be able to carry out a balance transfer from another Chase card; you have to transfer the balance from a card by another provider. The balance you transfer must be $15,000 or less. Also note that if you make transactions abroad, you’ll be charged a 3% fee.

Chase Freedom

After signing up for Chase Freedom and spending $500 within the first three months, you’ll get a bonus of $150. Other perks of this card include no annual fee; no interest on balance transfers and purchases for 15 months; 5% cash back on as much as $1,500 in specific categories; and 1% back on all other purchases. The rewards is an excellent benefit of the Chase Freedom card because many no interest cards don’t come with a rewards program at all. The signing bonus is also rare, especially on cards that allow for a balance transfer.

The rewards program with this card is great, but it can be a little tricky to understand. In order to get 5% back, you have to make purchases within a certain category, and those categories change. In order to know if you’ll be getting either 1% or 5% back, you’ll need to keep track of which category is currently offering the biggest rewards. Also, this isn’t a good card to bring with you while traveling abroad because you’ll be charged 3% on all foreign transactions.

Overall, this is a great all-around card. You can take up to 15 months to pay off your balance transfer without paying any interest, and you can use the card daily while earning cash back on all purchases.

Discover it

When you transfer a balance to the Discover it card, you’ll have 18 months to pay it off before being charged interest. You’ll also get 0% interest on purchases for six months. This card also comes with rewards: you’ll get 5% back on purchases in categories that regularly change and then 1% back on your other purchases. Unlike many other 0% interest cards, this one doesn’t charge a transaction fee on foreign transactions, so it’s a great one to bring with you while traveling. There also is not a penalty APR for late payment. However, when you transfer a balance, you’ll be charged a 3% fee.

This card also comes with a bunch of other perks. You can access your FICO score for free. You’ll get warranty protection. There’s also a Freeze It option that you can easily turn on if you misplace your card; it will protect your card from making any new transactions when turned on. One of the drawbacks of this card is that there’s a short no interest period for new purchases, so some people may opt to use it only to transfer a balance. Also, Discover isn’t accepted by every retailer, so it’s not a good option if you’re only going to have one credit card.

Citi Simplicity Card

The Citi Simplicity Card’s biggest perk is that there are never any late fees or penalty interest charges for paying late. Don’t be too swayed by the “no late fees” offer – it’s a great backup if you accidentally miss a payment or two, but paying late will still affect your credit, so it shouldn’t become a habit. The introductory 0% APR is for 21 months, which is a very long time compared to other no interest credit cards. This makes the card a fantastic option if you have debt or purchases that you know you won’t be able to pay off in one year. There’s also no annual fee, so you can put even more money toward paying off the balance.

If you do use this card to transfer a balance, keep in mind that you’ll have to pay 3% of the balance as a fee. Depending on how large the balance is that you’re transferring, this could cost a lot – compare the cost to how much you’re saving with 0% interest to make sure this card is a smart option. Also, this card does not have a rewards program, and if you use it in a foreign country, you’ll be charged a 3% fee per transaction.

Citi Double Cash Card

The Citi Double Cash Card has 0% interest for 18 months on balance transfers. The rewards program is pretty good, too – you’ll earn 1% on purchases and then another 1% when you pay them, and there’s no limit to how much you can earn back. However, you’ll have to wait until your cash back balance has reached at least $25 in order to claim it. The Citi Double Cash Card has no annual fee. Note that you’ll have to pay a 3% fee on balance transfers; if the fee is less than $5, you’ll pay a flat rate of $5. Overall, this card is good for people who need a long time to pay off their debt. It also has a great cash back program, so a lot of people opt to use it for daily purchases even after the 0% interest rate period has passed.

If you’re currently in debt, there’s no need to pay interest every single month on what you owe. Instead, transfer your balance to your 0% interest card and get more time to pay it off. A no interest card is also a great option if you’re about to make a huge purchase. Buy the item or gadget now and don’t worry about interest for the next 12 months. You can also find a 0% interest card that meshes well with your lifestyle, whether you travel abroad, make several purchases daily or want a rewards program to earn cash back.

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