In the United States, 41.2% of all households have credit card debt. Although it’s possible for anyone to pay back their debt in full, interest rates make this take longer and is more expensive. But by having a credit card with a 0% interest rate, making payments will be faster and cheaper. Here are some of the best 0% interest credit cards to apply for in 2020.
Note: These are not listed in a specific order. These are some of the best cards out there and each one can have its own benefits. This list is to provide you with the necessary information needed in order to assist you in your decision-making process. There is no one-size-fits-all card out there. Find what works best for you.
1Capital One® Quicksilver®
For the first 15 months on your account, there will be a 0% intro APR. The APR will then rise to 15.49% – 25.49%. As well as getting a $150 rewards bonus, a huge benefit of this card is that you can use the cash back rewards you get on Amazon. Travelers will be fond of the no transaction fee for making purchases outside the U.S. It’s assuring to know you won’t be charged for any of the purchases made if your card was lost or stolen.
2Discover It Cash Back
One of the best 0% interest cards out there, Discover it Cash back offers a 14 month 0% APR on all of your purchases. It comes with a better interest rate than Quicksilver from Capital One with a 13.49% – 24.49% variable on standard purchases. However, cash APR is 26.49%. There isn’t any cash rewards bonus for signing up but you do earn unlimited 1% cash back on all other purchases.
3BankAmericard® Credit Card
No annual fee, and 15 billing cycles of 0% APR, and no penalty APR from making late payments makes the BankAmericard Credit Card great for people who are making big purchases. Overdraft protection is provided to you but it is not mandatory to use it. If you wish you can disable that feature which can be helpful because there can be transfer fees.
4Wells Fargo Platinum Card
You know it’s fancy when the word ‘platinum’ is in there.
One of the best cards on the market, the Wells Fargo Platinum Card comes with some unique benefits. Starting off there is a 0% APR for 18 months on purchases and 0% APR for qualifying balance transfers. But this isn’t what makes this card so valuable. If you use your Wells Fargo consumer credit card, you can get up to $600 of protection against damage or theft on your phone! To make it even better, there is only a $25 deductible.
If you haven’t heard about the My Money Map feature that is provided with this card its main purpose is to assist you with your feature by supplying you with tools to create a budget and manage how much you spend. This tool is extremely valuable because being good with money is almost impossible if you don’t have a budget. Having someone assist you with this process can help you learn more about money, reduce the risk of improperly managing your funds, and help you learn where you need to improve.
Stop Paying Interest
Being forced to pay extra cash due to interest accumulated is the biggest threat to paying back all of what you owe. Becoming debt-free is everyone’s goal and by not having to pay back on interest, the goal of having no debt is much more achievable and can be done much faster. But, in order to have these types of cards, you need to have good credit.
The worse your credit is, the higher your interest rates will be. So if you’re looking to apply, make sure your credit history is where it needs to be and if it isn’t, get started on improving as much as you can today. Having a 0% interest credit card is one of the best things you can have in regard to finances. Not having to worry about simple things like that can make life much more pleasant and gives you extra confidence when making purchases.
The short answer is yes, but they provide 0% APR as introductory offers that can range from 12 months up to 21 months.
You need a good credit score to start. You can apply to multiple credit cards that provide 0% interest rate as introductory offers.