Tasha Lockyer June 27, 2013
High-interest credit cards dragging you down? You’re in luck – credit card companies are now wooing customers with credit cards featuring long introductory interest-free periods, up to 18 months. This means you can buy something today, not pay it off, and still not accrue any interest for 18 months – that’s until 2015! Or if you’re already paying interest on another credit card, you can transfer your balances from that card to an 18 month 0% APR card and accrue no interest on that balance until 2015. Either way you’re saving a ton of money in interest fees.
Here are the cards currently offering an 18-month 0% APR (no interest until 2015):
Citi Simplicity® Card: With a generous 18-month 0% Intro APR period, it’s hard to go wrong. But Citi Simplicity doesn’t stop there, it also features no late fees, no penalty fees and no annual fee. Buy something new or transfer balances from your higher-APR credit cards onto this card and save some money while enjoying the 1.5 year interest-free period. Apply Now Read Review
Citi Diamond Preferred®: Just like the Citi Simplicity Card, Citi Diamond Preferred offers its users an 18-month 0% Intro APR and no annual fee. The main differences between this card and Citi Simplicity are that the Diamond Preferred will charge late fees or penalty fees if applicable and it has a slightly lower ongoing APR for those with excellent credit. Apply Now Read Review
Discover it® Card – Balance Transfer: Here’s another nice 18-month, 0% APR card that will leave you enjoying interest free balance transfers until 2015. Purchases receive a somewhat shorter, but still generous, 6-month 0% APR. Add cashback earnings to this – 5% cash back on categories that rotate quarterly (up to $1,500) and 1% cashback on all other purchases – and you’ve got yourself a great card that combines cashback with lengthy 0% Intro APRs. Apply Now Read Review
While an 18-month 0% APR is hard to beat, here are a couple cards that might be worth considering for other reasons:
Slate® from Chase: Slate’s slightly shorter 15-month 0% Intro APR for purchases and balance transfers is balanced out nicely by it’s $0 intro balance transfer fee (other cards typically charge 3-5%). Not having to pay a balance transfer fee when you move your balances to this card can save you a ton of cash. Apply Now Read Review
Barclay Ring Mastercard: Although this card doesn’t offer any 0% APR period, it does feature an incredibly low ongoing 8.00% (variable) APR on both purchases and balance transfers. In addition, just like the Slate card there are no balance transfer fees. Add to that some very unique features like having card members participate in profit or loss decision as well as a type of profit sharing and you’ve got a card to consider. Apply Now Read Review