No, the United Business Credit Card does not have a 0% APR intro period for new purchases. If you’re planning on making a large upcoming purchase and you don’t anticipate paying off the balance for a few months, the United Business Credit Card is not a great credit card to use.
Alternatively, you can check out the best 0% APR credit cards of 2022, selected by WalletHub’s editors from 1,500+ offers. Just keep in mind that many cards with a 0% APR intro period for new purchases require good or excellent credit for approval. You can check your credit score for free on WalletHub to gauge your odds.
You should get a 0% APR credit card if you have good credit or better, are planning to make a big purchase or balance transfer soon, and have a plan for paying off the balance before the intro APR period is over. If you fit these criteria, you’ll be able to make the most out of a 0% APR credit card.… read full answer
Making a plan to pay off a large balance can be an organizational hurdle for some – and if you never get around to planning the payoff, you’re more likely to end up paying some interest at the end of the 0% APR period. Using a credit card payoff calculator can be a big help.
You’re planning a big purchase or balance transfer
These are two of the best ways to use a 0% APR period because it’s a chance to pay off debt without interest charges. But be aware that not all credit cards offer 0% on both purchases and balance transfers - many only offer the deal on one or the other.
You have a plan for paying off the balance before the intro period is over
This is especially important because no-interest credit card offers usually lead to high regular APRs, and any balance left after the intro period will be subject to that rate. This works in the card issuer’s favor, not yours. The best way to plan paying off a balance is to use a credit card payoff calculator.
The credit card is not a store credit card
Store credit cards often advertise 0% interest periods, but most of the time, these are deferred interest deals. If you have any balance left at the end of a promo period on these cards, interest will retroactively apply - not just to the remaining balance, but to the entire purchase price. If you have good credit, you should qualify for a 0% APR period on a non-store credit card.
When shopping around for a 0% APR credit card, it’s also important to consider that a certain credit limit is never guaranteed. If you have a high limit in mind for a big purchase, for example, the best thing to do is to make your overall financial situation as low-risk as possible to a card issuer. That means having a clean credit report – including a history of on-time payments and low credit utilization – and enough annual income to afford your monthly payments.
The longest 0% APR credit card is the Wells Fargo Reflect® Card as it offers an introductory purchase APR of 0% for up to 21 months from account opening. That rate is coupled with a balance transfer intro APR of 0% for up to 21 months from account opening on qualifying balance transfers – subject to a balance transfer fee: 3% intro for 120 days, then up to 5% (min $5). Once the introductory periods are over, remaining balances are subject to a regular APR of 16.74% - 28.74% Variable. Given its $0 annual fee, the Wells Fargo Reflect card makes for a great option both for financing larger purchases and transferring pre-existing debt. There are several other options with long 0% intro APRs that are worth your consideration.… read full answer
0% for 21 months – subject to a balance transfer fee: 5% (min $5)
16.74% - 27.49% (V)
These cards benefit from $0 annual fees and require good credit or better (a credit score of 700+) for good odds of approval. None of these cards offer rewards, but they’re meant for financing rather than regular spending. You can always adopt the island approach and use a different rewards card for purchases you’ll pay in full each month. All of these cards also require good or excellent credit.
It’s important to note that some store cards may offer 0% interest for longer than 21 months, but they use deferred interest. That is, you earn interest on your balance during the 0% period but don’t have to pay that interest if and only if you bring your balance to $0 before the 0% period ends. The JCPenney Credit Card is one example, offering 18 - 24 months of deferred interest. But those cards are best avoided, because not paying your balance in full by the end of the intro period allows for a high APR to retroactively apply to your entire original purchase amount – as if the low intro rate never existed.
When a 0% APR period ends, the credit card’s regular APR will kick in. That rate will apply to any unpaid balance remaining on the credit card as well as any new purchases made from that point on. The regular APR that applies when a 0% APR period expires tends to be very high, so it’s best not to leave much of a balance for it to affect.… read full answer
The only exception to this rule is a 0% interest period with a feature called deferred interest. General-purpose 0% credit cards don’t have it, but some store credit cards do. This isn’t a true 0% APR deal because the interest is still accruing while it’s “deferred,” and it will apply if you don’t pay your balance on schedule. So when the 0% APR ends on a deferred interest financing offer, you’ll be charged interest on the original purchase amount, as accrued from the purchase date, if you have even $1 of your original balance left to pay. Your deferred interest could also return prematurely if you make a late payment, and it’ll likely be a lot more expensive than a late fee. That’s why it’s very important to make on-time payments on deferred interest credit cards, and to pay off the balance before a deferred interest period is over.
Even though a credit card with a true 0% APR period won’t retroactively charge interest on purchases, be smart with these cards. Interest will apply to any balance remaining when the 0% period ends, so plan out your payments to ensure there’s little left at that point. Using a credit card payoff calculator can be a big help.
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