How much could you save with a 0% intro APR offer? This question is about 0% APR Credit Cards

You could save hundreds or even thousands of dollars with a credit card’s 0% intro APR offer. This is true for 0% APR offers on both balance transfers and new purchases, though the exact amount you’ll save depends on the amount you’re paying off and how much you can afford to pay each month. The tables below use average credit card interest rates, fees, and intro periods to show how much you could save when repaying a debt over the course of three years. Potential Savings with a 0% APR Offer for New Purchases Balance Interest Paid - 18% APR Card Interest Paid - 0% APR Card 0% APR Savings $1,200 $365 $163 $202 $2,500 $760 $340 $420 $8,000 $2,431 $1,087 $1,344 Potential Savings with a 0% APR Offer for Balance Transfers Balance Interest Paid - 18% APR Card Finance Charges - 0% APR 0% APR Savings $1,200 $365 $178 $187 $2,500 $760 $370 $390 $8,000 $2,431 $1,183 $1,248 Note: Finance charges assume a 3% balance transfer fee. Find Out How Much You Could Save To figure out if a 0% intro rate credit card would save you money, use WalletHub’s credit card calculator. And if applying for a new card seems like the right move, check out our top 0% APR picks for 2023.

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How much could you save with a 0% intro APR offer?

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This question is about 0% APR Credit Cards

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Cameron DiGiovanni, Writer

@cdigiovanni20 • 03/19/21 This answer was first published on 03/19/21. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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You could save hundreds or even thousands of dollars with a credit card’s 0% intro APR offer. This is true for 0% APR offers on both balance transfers and new purchases, though the exact amount you’ll save depends on the amount you’re paying off and how much you can afford to pay each month.

The tables below use average credit card interest rates, fees, and intro periods to show how much you could save when repaying a debt over the course of three years.

Potential Savings with a 0% APR Offer for New Purchases

Balance	Interest Paid - 18% APR Card	Interest Paid - 0% APR Card	0% APR Savings
$1,200	$365	$163	$202
$2,500	$760	$340	$420
$8,000	$2,431	$1,087	$1,344

Potential Savings with a 0% APR Offer for Balance Transfers

Balance	Interest Paid - 18% APR Card	Finance Charges - 0% APR	0% APR Savings
$1,200	$365	$178	$187
$2,500	$760	$370	$390
$8,000	$2,431	$1,183	$1,248

Note: Finance charges assume a 3% balance transfer fee.

Find Out How Much You Could Save

To figure out if a 0% intro rate credit card would save you money, use WalletHub’s credit card calculator. And if applying for a new card seems like the right move, check out our top 0% APR picks for 2023.

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What does 0% APR mean on a credit card?

A 0% APR means that you pay no interest on new purchases, balance transfers or both for a certain period of time after you open the credit card account. The best 0% APR credit cards on the market currently give 15-21 months without interest. The average 0% APR intro period is about 12 months for cards offering 0% on purchases, according to WalletHub’s Credit Card Landscape Report, and around 13 months for the average card with 0% on balance transfers.

A 0%...

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Can I request 0% APR on my credit card?

How do 0% APR credit cards work?

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...

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