WalletHub, Financial Company
@WalletHub
Zero-interest credit cards charge a 0% interest rate on purchases and/or balance transfers for the duration of the introductory period – typically from 6 to 21 months, depending on the card. When the intro APR period ends, the regular interest rate kicks in for any remaining balance and any future purchases or balance transfers charged to the card. The average 0% APR period lasts for about 11 months.
Due to the fact that 0% APR credit cards provide a potentially long window for interest-free repayment, they’re especially useful in financing big purchases or paying off large debts. The card’s best use, however, will depend on the terms of the introductory APR period. Some 0% interest credit cards only offer zero interest on purchases, while others only offer it for balance transfers. Some offer the intro period for both purchases and balance transfers.
When you’re shopping for a 0% APR credit card, it’s a good idea to know what you want to use the intro period for, so you can get the card that benefits you most. Keep in mind that credit cards with 0% interest periods usually do not give way to a low regular APR. The average regular interest rate for a 0% APR credit card is about 19%, so it’s best to have a plan to pay off any balance on the card before the intro period ends. A credit card payoff calculator can help.

2023's Best 0% APR Credit Cards
Compare CardsPeople also ask
Did we answer your question?