Zero APR Credit Cards

Is compound interest preventing you from paying down your credit card debt?

Would a card with a super long 0% intro APR period on both purchases and balance transfers get your attention?

I’m sure it would because zero APR credit cards is a great way to pay down the balance by simply transferring it from your high interest card to a new 0 percent interest card.

But you want to make sure that you pay off the balance before the introductory rate ends. Many of the offers you’ll see range from 3 to 6 months which may not be enough time.

So let’s review some of the top credit cards offering a 0% introductory rate:

Discover More Card

This card offers the best of both worlds because you have a zero percent APR on both transfers and purchases for 15 months. Even if you don’t have debt it’s still a heck of a deal to have the ability to borrow money interest-free.

Here is a quick overview:

• No annual fee
• 0% intro APR on balance transfers for 15 months
• 0% intro APR on purchases for 15 months
• 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
• Up to 20% Cashback Bonus at popular retailers when you shop online through Discover
• $0 Fraud Liability plus automatic mobile and email fraud alerts

Discover More Card

While this card has the same name there is a different offer which is ideal if you’re looking to do a balance transfer. While it only offers 0% APR on purchases for 6 months you get 0% APR for a full 18 months on balance transfers!

Some of the benefits include:

• No Annual Fee
• 0% intro APR on balance transfers for 18 months
• 0% intro APR on purchases for 6 months
• 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
• Up to 1% unlimited Cashback Bonus on all other purchases

Maximum Rewards Platinum Edition Visa Card

This card is offered by First National Bank and while it only provides 0% APR on purchases for 6 months I still like the 12 months you have on balance transfers so it’s a card definitely worth mentioning.

Here is the overview:

• No Annual Fee
• 0% Intro APR for 12 billing cycles on balance transfers
• 0% Intro APR for 6 billing cycles on purchases
• Earn 1 point for every $1 in qualifying purchases with no limit on the number of points you can earn
• Use rewards for travel, merchandise, gift cards and more

Another fee to consider is the balance transfer fee and with the Maximum Rewards Platinum Edition Visa card you get charged either $10 or 4% of the amount of each transfer, whichever is greater, for transfers made in the first year.

But with the Discover More cards it’s only 3% of the amount of each transfer during the introductory period.

While taking advantage of zero APR credit cards has its benefits make sure you always understand the rates, fees, rewards, limitations and other terms and conditions that come with your card prior to applying.

What other offers have you taken advantage of?

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About the author

Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. He is a business credit blogger for AllBusiness, a subsidiary of Dun and Bradstreet and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in American Express Small Business, Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.