How Do 0% APR Credit Cards Work? || Credit Cards Explained
What Are The Best Credit Cards With 0 APR?
As the cost of living continues to increase, more and more people are looking for ways to save money. One of the most popular methods is to use a credit card with a 0% APR. A 0% APR credit card can help you save money on interest charges and fees, allowing you to make purchases without worrying about accruing debt.
When looking for the best 0% APR credit cards, there are a few factors to consider. First, you’ll want to look at the introductory rate, which is the zero-percent interest rate offered when you first open the account. This rate typically lasts for a specific period of time, such as twelve months, and can be applied to both purchases and balance transfers.
You’ll also want to consider the ongoing APR, which is the interest rate you’ll pay after the introductory period ends. This rate can vary significantly, so it’s important to compare several cards and find one with the lowest rate. Additionally, you should pay attention to the reward programs offered by each card. Some cards offer cash back or points for every purchase you make, allowing you to accumulate rewards over time.
Finally, it’s important to consider any fees associated with the credit card. While many cards offer 0% APR, some may have annual fees or balance transfer fees that can add up over time. Before signing up for a card, make sure you’re aware of all the fees and costs associated with the card.
Now that you know what to look for, let’s take a look at some of the best 0% APR credit cards currently available.
1. Chase Freedom Unlimited: This card offers a 0% introductory APR for 15 months on both purchases and balance transfers. After the introductory period ends, the ongoing APR is 14.99% – 23.74%. Additionally, cardholders can earn 1.5% cash back on every purchase they make.
2. Citi Simplicity Card: This card offers a 0% introductory APR for 18 months on both purchases and balance transfers. After the introductory period ends, the ongoing APR is 13.99% – 23.99%. There is no annual fee, and cardholders can also take advantage of Citi’s Price Rewind program, which helps cardholders get refunds on any purchases that have dropped in price.
3. Discover it Cash Back Card: This card offers a 0% introductory APR for 14 months on both purchases and balance transfers. After the introductory period ends, the ongoing APR is 14.24% – 25.24%. Cardholders can also take advantage of Discover’s 5% Cashback Bonus program, which offers cash back on select purchases.
4. BankAmericard Credit Card: This card offers a 0% introductory APR for 15 billing cycles on both purchases and balance transfers. After the introductory period ends, the ongoing APR is 15.24% – 25.24%. Additionally, cardholders can take advantage of Bank of America’s Preferred Rewards program, which offers a 25% – 75% rewards bonus on all purchases.
These are just a few of the best 0% APR credit cards currently available. With so many options, it’s important to compare the features of each card and find the one that best meets your needs.
• Look for a credit card with a 0% APR introductory period
• Consider the ongoing APR, reward programs, and any fees associated with the card
• Compare features from several cards to find the best option for your needs
People Also Ask:
Q: How long does the 0% APR introductory period last?
A: The length of the introductory period varies from card to card, but typically lasts for 12-18 months.
Q: Are there any fees associated with 0% APR credit cards?
A: Some cards may have annual fees or balance transfer fees, so it’s important to read the terms and conditions of the card before signing up.
Q: Are there any rewards programs with 0% APR cards?
A: Yes, many cards offer cash back or points for every purchase you make, allowing you to accumulate rewards over time.
Best Credit Cards With 0 Apr – How to Choose
So, how do 0% APR credit cards work anyway? In this video, Justin covers the details of how these credit cards work, the advantages, and disadvantages. 0% APR credit cards can be used for a lot of good, but only when great care is taken. If you aren’t careful, deferring payment of your purchases using one of these 0% interest cards can get you into a lot of trouble. But when used properly, they can be a great advantage to ensure that your money continues to work for you! #creditcards #creditcardsforbeginners #balancetransfer
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0% APR Credit Card Calculator Shown in Video: https://docs.google.com/spreadsheets/d/1CfFxsI_9_KV66jUSBlUJS1y9Zhvb3edzzmdkuGBi13k/copy
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Want to know how to use a 0% interest card for balance transfers? Check out this video: http://bit.ly/JVC_CreditCard_PayDown_BalanceTransferCheck
Want to know how credit card minimum payments and credit card interest really work? Learn more here: http://bit.ly/JVC-Vid-CreditCardInterest
Drowning in debt? Need help understanding how to get ahead? Check out my video on how to get out debt here: http://bit.ly/JVC_VID_How_To_Get_Out_Of_Debt
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The thoughts and opinions expressed in this video are intended for information and entertainment purposes only. Justin Conroy is not a licensed and/or registered investment advisor and the content discussed is not intended to be investment advice. Seek a duly licensed professional for investment advice.
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