2017 RANKING & REVIEWS
TOP RANKING CREDIT CARDS FOR ZERO INTEREST
Finding the Best Interest-Free Credit Cards
Do you have any large purchases coming up? The holidays are right around the corner, so there are likely some big expenses on the horizon. Wouldn’t it be nice if you could take a year – or more – to pay off these bills? With zero percent interest credit cards, this can become a reality.
Companies offer zero percent credit cards as an introductory bonus to those who are approved. That means that for 12 months – or whatever the introductory period duration is – you will not accrue interest on your purchases. You will only be responsible for paying your monthly minimum balance during this time.
Award Emblem: Top 6 Best Interest-Free Credit Cards
Do you know all of the ways that an interest-free credit card can be used? Here are just a few examples:
- Putting a down payment on a car
- Purchasing an engagement ring
- Planning and booking a trip to Europe – finally
- Putting off upfront costs of home renovations
That’s right. Zero percent interest credit cards can give you the flexibility to purchase things now and defer full payment for at least a year. It is important to use these cards responsibly, but the benefits of zero interest credit cards are definitely evident.
So you know how great zero perfect credit cards can be, but how do you narrow it down to the best interest-free credit cards? There any many offers out there, and comparing zero interest credit cards can be time consuming. That is why we put together a list of the top six zero interest rate credit cards to help you determine the best zero interest credit card for you.
AdvisoryHQ’s List of the Top 6 Best Zero Interest Credit Cards
List is sorted alphabetically (click any of the credit card names below to go directly to the detailed review section for that credit card):
- Blue Cash Preferred® Card from American Express
- Capital One® VentureOne®
- Chase Freedom® Credit Card
- Chase Slate® Credit Card
- Citi Simplicity® Card
- Discover it® Card
Top 6 Best Interest-Free Credit Cards | Brief Comparison
Credit Card Names
Annual Percentage Rate
|Blue Cash Preferred® Card from American Express|
|Capital One® VentureOne®|
|Chase Freedom® Credit Card|
|Chase Slate® Credit Card|
|Citi Simplicity® Card|
|Discover it® Card|
Table: Top 6 Best 0 Interest-Free Credit Cards | above list is sorted alphabetically
Detailed Overview of How Zero Percent Interest Credit Cards Work
You may be wondering how a company can extend zero interest credit card offers. Don’t credit card companies make most of their money by charging interest to begin with? While credit card companies make a lot in interest, zero percent credit card offers allow companies to draw cardholders in, under the assumption that over time they will recoup the missed revenue.
It is important to note that 0 interest-free credit cards are not always interest free. These zero interest rate credit cards usually only have an introductory 0% APR offer, which ends after a period. These cards come with different introductory periods, such as a 12-month interest-free credit card, or a 15-month interest-free credit card.
While these zero interest credit card offers are enticing, make sure that you don’t charge more upfront than you will be able to pay off at the end of the introductory period. Once the introductory period is up, you will then be charged normal interest rates for the remaining credit balance.
Overall, while it is important to be responsible about overspending, having the best zero percent credit cards can be a valuable asset.
Detailed Overview of What You Need in an Interest-Free Credit Card
When looking for the best zero percent interest credit cards, there are many options. With numerous zero percent credit card offers out there, you need to be savvy about the interest-free credit card that you choose. The best zero interest rate credit cards will have a combination of the following attributes:
- Long introductory period
- Low APR after intro period
- No annual fee
- Signing bonus offer
- Continual cash back & rewards
- No foreign transaction fees
There are many zero interest credit card offers available, but not all of the zero percent credit cards offered are a good deal. A 12-month interest-free credit card that jumps to an extremely high APR after the intro period could be dangerous. In addition, having high annual fees or late payment fees on zero percent interest credit cards can be a tactic by some issuers to recoup some of the lost interest.
Choosing the best zero perfect credit cards takes careful consideration. While the zero percent credit cards on our list of best zero percent credit cards are all good options, be sure to choose the best zero interest credit card for you.
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Please click here “AdvisoryHQ’s Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top rated credit cards, financial accounts, firms, products, and services.
Detailed Review – Top Ranking Best Interest Free Credit Cards
Below, please find the detailed review of each card on our list of zero interest credit cards. We have highlighted some of the factors that allowed these 0 interest-free credit cards to score so highly in our selection ranking.
Blue Cash Preferred® Card from American Express Review
The American Express Blue Cash Preferred® Card has a 12-month 0% introductory APR offer. It is definitely one of the better zero percent credit cards that you can find.
Benefits of the Blue Cash Preferred® Card from American Express
- The annual fee of $95 is waived for the first year.
- Few other zero percent credit cards offer a massive signup bonus. The American Express Blue Cash Preferred® Card gives $250 to $450 if you spend $1,000 in the first three months.
- You can earn regular cash back with the American Express Blue Cash Preferred® Card.
- The 0%, 12-month APR offer also extends to balance transfers.
Drawbacks of the Blue Cash Preferred® Card from American Express
- There is an annual fee of $95. No others on our list of best interest-free credit cards have an annual fee.
- There is a foreign transaction fee of 2.7%. This is lower than other zero interest credit cards, but some on the list have no foreign transaction fee.
- The intro 0% APR period only lasts for 12 months.
- You will not get access to your credit score on your monthly statement.
Capital One® VentureOne® Review
The Capital One VentureOne Credit Card has an intro APR offer of 12 months, and it is definitely one of the best zero interest credit cards to consider.
Source: Capital One
Benefits of the Capital One VentureOne
- This credit card offers rewards when not many other zero percent credit cards do. You will receive 1.25 miles per dollar that you spend on all purchases.
- There is a bonus offer of 20,000 miles.
- This card is good for international purchases or travel, since there is no foreign transaction fee.
- There is also no annual fee with this best zero interest credit card.
Drawbacks of the Capital One VentureOne
- There is no introductory APR offer for balance transfers.
- You need excellent credit to obtain this 12-month interest-free credit card.
- You don’t get a free credit score with your statements.
- The initial 0% APR offer only lasts for 12 months.
Chase Freedom® Credit Card Review
The Chase Freedom® Credit Card has an introductory APR period that lasts for 15 months, which puts it on our list of best interest-free credit cards.
Benefits of the Chase Freedom® Credit Card
- You can earn a $150 bonus if you spend $500 in the first three months of opening your interest-free credit card.
- There is no annual fee associated with this card.
- You can earn 5% cash back on bonus categories, which is better than most other zero interest credit cards.
Drawbacks of the Chase Freedom® Credit Card
- There is a 3% foreign transaction fee for this credit card.
- It is hard to keep track of the bonus categories that rotate every few months.
- The lowest variable APR is the highest on our list of zero percent credit cards. This is something to keep in mind if you are considering transferring a larger balance over.
Chase Slate® Credit Card Review
The Chase Slate® Credit Card has a 15-month 0% introductory APR offer, making it one of the best zero percent credit cards.
Benefits of the Chase Slate® Credit Card
- You can use the 0% introductory balance-transfer within your first 60 days. This interest-free credit card gives you 15 months to reduce your debt without paying high interest rates.
- Fifteen months is one of the longer introductory APR offers you will find for zero percent credit cards.
- There is no annual fee.
- You get monthly access to your FICO score — for free. This is great if you are trying to get out of debt and increase your credit score.
- After your introductory period, APR ranges from 13.24% to 23.24%, which is not extraordinarily high.
Drawbacks of the Chase Slate® Credit Card
- There are no rewards offered by this interest-free credit card.
- You are not allowed to transfer balances more than $15,000.
- This zero interest credit card has a 3% foreign transaction fee, so you won’t want to use this for international transactions.
- You cannot transfer balances from one Chase credit card to another. If you are trying to cut down on credit card debt, you will need to carry that debt with another issuer.
Citi Simplicity® Card Review
With a zero percent intro APR period of 21 months, you won’t find any better on our list of best interest-free credit cards than City Simplicity®.
Benefits of the Citi Simplicity® Card
- You will never be charged an annual fee, which makes this one of the best zero interest credit cards.
- At 21 months, no other zero interest credit cards can beat Citibank’s intro APR offer on purchases.
- With an APR of 13.24% to 23.24% after the intro period, this card falls in line with the other best interest-free credit cards.
- This zero percent credit card comes with no penalty APRs or late fees. It is more forgiving than other zero percent credit cards out there.
Drawbacks of the Citi Simplicity® Card
- There is a 3% foreign transaction fee.
- This is not a good card for balance transfers, since you will pay a 3% fee to do so. There are other zero interest credit cards out there to apply for if you are looking specifically for balance transfer features.
- The Citi Simplicity® Card comes with no rewards or cash back. Other zero interest credit cards have rewards, but not as long of an intro APR period.
Discover it® Card Review
The Discover it® Card comes with 12 months of 0% APR, but it has other great features to put it on our list of best interest free credit cards.
Benefits of the Discover it® Card
- The Discover rewards program has 5% cash back on different categories every quarter. If you bought a home and are renovating, you might be able to double up with this 12-month interest free credit card and 5% cash back at home improvement stores. Christmas is a great time for this card, too, as Discover teams up with Amazon and department stores to offer 5% cash back. You will never be charged an annual fee, which puts this on the list of the best zero percent credit cards.
- After the intro period, the APR jumps to between 11.24% and 23.24%; this is the lowest on the list of best interest-free credit cards.
- Your FICO score is available on every monthly statement.
- There are no foreign transaction fees, whereas most other zero percent credit cards on our list have them.
Drawbacks of the Discover it® Card
- There is a 3% balance transfer fee, which can hurt your interest savings.
- Some retailers and restaurants still don’t accept Discover, so you might still need to carry a Visa or MasterCard.
- The introductory APR period is the shortest on our list of best interest-free credit cards.
Conclusion — Top 6 Best Interest Free Credit Cards
Having a 12-month interest free credit card is definitely an asset. If you are looking to make a big purchase or have credit card debt, the best zero interest credit card can help you out. Once you’ve learned that zero percent credit cards can benefit you, and what to look for in the best zero interest rate credit cards, the difficult task is selecting just one. The question is, what is the best zero interest credit card for you?
It is not easy to sort through the best zero percent credit cards to determine what the best zero interest credit card is for you. Thankfully, we’ve done it for you! After sorting through all of the zero percent credit card offers, here is our breakdown:
- Best 0% APR Introductory Period: Citi Simplicity® Card
- Best Sign-Up Bonus: Blue Cash Preferred® Card from American Express
- Best for Ongoing APR: Discover it® Card
- Best for Rewards: Chase Freedom® Credit Card
- Best for Balance Transfers: Chase Slate® Credit Card
- Best for Low Fees: Capital One® VentureOne®
While each of these zero interest credit cards has areas where they shine, any of the six could easily be considered the best zero interest credit card for you.
AdvisoryHQ (AHQ) Disclaimer:
Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
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