What's the American Express 0% APR offer?

The American Express interest rate is 13.99% (V) to 24.74% (V), depending on creditworthiness and the specific American Express credit card. Some American Express cards also offer a 0% introductory interest rate, lasting for a specified number of months. The EveryDay, Blue Cash EveryDay, and Cash Magnet cards offer 0% interest for 15 months on purchases. With the Blue Cash Preferred and EveryDay Preferred cards, you can make purchases for 12 months at 0% interest.… read full answer

An American Express card with a 0% interest rate allows you to finance big-ticket purchases for several months without the costly interest charges.

Business owners have four American Express 0% interest rate credit cards at their disposal. The Blue Business Plus Credit Card from American Express is the best of the lot with a 0% interest rate for 12 months on Purchases. The Blue Business Cash card also gives you 0% interest for 12 months on purchases only.

American Express Interest Rates by Card:

• Amex Everyday card: 12.99% - 23.99% (V)
• EveryDay Preferred: 12.99% - 22.99% (V)
• Blue Cash Everyday: 13.99% - 23.99% (V)
• Cash Magnet: 13.99% - 23.99% (V)
• Blue Business Plus: 13.24% - 19.24% (V)
• Blue Cash Preferred: 13.99% - 23.99% (V)
• Blue Business Cash: 13.24% - 19.24% (V)

You will need good to excellent credit to qualify for an American Express credit card with a 0% interest rate. That’s a credit score from 700 to 749 (good) and 750+ (excellent). American Express will also review your payment history, employment, income, your level of debt, and other factors. If you’re applying for a business credit card, your personal credit history will play a significant role in the evaluation process.

A 0% APR means that you pay no interest on new purchases and/or balance transfers for a certain period of time. The best 0% APR credit cards give 15-18 months without interest. But the average 0% APR intro period is about 10.5 months for cards offering 0% purchases. And it’s around 12 months for the average card with 0% on transfers.… read full answer

A 0% APR does not keep you away from monthly payments, nor does it completely remove interest out of the equation. You still have to make monthly minimum payments to keep your 0% APR. And if you don’t pay off your balance by the end of the 0% intro period, you’ll have to pay interest on whatever balance remains. The penalty is even worse with many retailers’ 0% financing offers. If you don’t pay off your full balance in time, interest will retroactively apply to your entire original balance – as if the 0% APR was never there.

There are a few other things you should keep in mind when thinking about 0% APRs, too.

0% APR Key Takeaways:

• You pay no interest on your purchases and/or balance transfers for 2 to 21 months, depending on the card.
• 0% APRs make debt cheaper to pay off, which helps you get out of debt faster.
• A 0% APR does not free you from the responsibility of making monthly payments. You must pay at least your monthly minimum to avoid being classified as late. Late payments damage your credit score.
• Zero percent credit cards tend to have fairly high regular APRs. So you should strive to bring your balance to zero by the end of the 0% APR period, when regular rates take effect.

It’s also important to note that you won’t only find 0% APRs on credit cards. You may see auto loans with them, for example. Just be sure to always read the terms in detail before signing. You don’t want to end up with deferred interest instead of a true 0% APR.