The Best 0% APR Purchase Credit Card Offers (With Balance Transfers)
Published 2/22/08 (Modified 4/24/13)
Updated List Of The Best 0% APR Interest Credit Card Offers Below
Zero percent purchase credit cards are specially suited for credit savvy consumers looking to make free purchases for 12 months or more without having to pay the amount back until the end of the promotional offer period. If you've low on spending cash or find yourself in a temporary financial emergency, 0% purchase credit cards can help you deal with your personal finance expenses until you get back on your feet. In the last few years there have been at least two occasions when I personally needed to depend on 0% card offers to help get me out of a temporary financial jam that lasted a few months. Although I was in good financial shape at the time my liquid spending money was just momentarily tied up in stock investments. So to successfully weather the cash strapped period, I paid off daily living expenses using my newly applied no interest credit card. Hey, it beats relying on pay day loans any day (which I've never had to use, thankfully).
Both 0% Balance Transfer and 0% Purchase Credit Cards Have Pros and Cons
While 0% balance transfer credit cards have gotten more publicity among those seeking debt reduction and among those looking to profit from high yield savings account interest, they usually require more careful management effort to maintain. One top differentiating benefit of using 0% purchase credit cards is to avoid the initial transfer fees associated with many balance transfer cards. For those who want to avoid the hassle and effort of shifting balances around, 0% purchase cards offer an attractive option.
With no interest purchase credit cards, cardholders accrue no monthly interest charges for purchases they make for the duration of the card's introductory and promotional period, which usually lasts about 12 months (but can vary anywhere from 6 to 18 months). Each month's minimum statement balance (usually small) still needs to be timely and regularly paid off to avoid any unintended late payment fees or penalties. During the promotional period, cardholders can continue to make free 0% purchases up to the maximum credit limit available. However, as always, I always encourage users to be responsible with their credit usage and always work towards paying off the total statement balance off before the end of the promotional period. Please note that balance transfer fees may apply depending on offer details. Please read the terms carefully.