Consumers are looking for 0% APR credit cards more than ever before; fortunately these offers are also more common in the marketplace today. One reason consumers love these cards so much is that they allow cardholders to make large purchases (or a lot of smaller purchases), and stretch out repayment without having to pay a dime in interest.
With the average APR currently hovering at around 15-17%, and with many cards possessing an APR as high as 20-23%, you could be paying a lot in interest. For example, if you want pay for a $4,000 vacation on your Credit Card, at an APR of 16% (or 1.33% per month), if it took you a year to pay back the money you’d ultimately pay more than $4,286. But with a 0% APR card, you’re basically getting an interest-free Loan, which simply can’t be beat.
Consider this comparison, below, of some of the more popular credit cards that offer 0% APR, and choose the one that matches your needs.
| Card Name | Credit Needed | Card Type | Rewards | Intro. APR | Pur. APR | Annual Fee | Bal. Trans. % | Notes |
| Chase Freedom | Excellent | 0% APR; Bal. Trans.; Rewards | Yes | 0% - 15 mos. | 12.99% - 22.99% (V) | $0 | 0% - 15 mos. | $100 bonus (after spending $500); 5pts/$1 on select categories (conditions apply); 1pt/$1 otherwise |
| Citi Diamond Preferred | Good - Excellent | 0% APR; Bal. Trans.; Rewards | Yes | 0% - 18 mos. | 11.99% - 21.99% (V) | $0 | 0% - 18 mos. | Rewards = use of personal concierge, access to exclusive events |
| Citi Dividend Platinum Select Card for Students | Good | 0% APR; Rewards; Student | Yes | 0% - 7 mos. | 13.99% - 21.99% (V) | $0 | 13.99% - 21.99% | 5pts/$1 on select categories (for 6 mos.); 1-2pts/$1 otherwise |
| Citi Forward Card | Good - Excellent | 0% APR; Bal. Trans.; Rewards | Yes | 0% - 12 mos. | 12.99% - 22.99% (V) | $0 | 0% - 12 mos. | $150 bonus (after $650 spent); 5pts/$1 at restaurants; 1pt/$1 otherwise |
| Citi Simplicity Card | Good - Excellent | 0% APR; Bal. Trans. | No | 0% - 18 mos. | 12.99% - 21.99% (V) | $0 | 0% - 18 mos. | No late fees, no penalty rate |
| Discover More Credit Card | Good | 0% APR; Bal. Trans.; Rewards | Yes | 0% - 15 mos. | 10.99% - 20.99% (V) | $0 | 0% - 15 mos. | 5pts/$1 on rotating categories; 1pt/$1 otherwise; 5-20pts/$1 at ShopDiscover.com |
| Discover Motiva | Good | 0% APR; Bal. Trans.; Rewards | Yes | 0% - 15 mos. | 10.99% - 20.99% (V) | $0 | 0% - 15 mos. | 5% of monthly interest payment as cash back (when bill paid on-time); 5-20pts/$1 at ShopDiscover.com |
| Discover Open Road | Good | 0% APR; Bal. Trans.; Rewards | Yes | 0% - 15 mos. | 10.99% - 20.99% (V) | $0 | 0% - 15 mos. | 2 pts/$1 on gas year-round; 5-20pts/$1 at ShopDiscover.com |
| Discover Open Road Credit Card for Students | Good | 0% APR; Rewards; Student | Yes | 0% - 9 mos. | 12.99% - 18.99% (V) | $0 | 12.99% - 18.99% | 2pts/$1 on restaurants & fuel; 5-20pts/$1 at ShopDiscover.com |
| Discover Student Card - $20 Cashback Bonus | Good | 0% APR; Rewards; Student | Yes | 0% - 6 mos. | 12.99% - 18.99% (V) | $0 | 12.99% - 18.99% | $20 bonus (after 1st purchase); 1-5pts/$1 otherwise; 5-20pts/$1 at ShopDiscover.com |
| Discover Student Clear Card | Good | 0% APR; Rewards; Student | Yes | 0% - 9 mos. | 12.99% - 18.99% (V) | $0 | 12.99% - 18.99% | 5pts/$1 on rotating categories; 1pt/$1 otherwise; 5-20pts/$1 at ShopDiscover.com |
| Discover Student Credit Card | Good | 0% APR; Rewards; Student | Yes | 0% - 9 mos. | 12.99% - 18.99% (V) | $0 | 12.99% - 18.99% | 5pts/$1 on rotating categories; 1pt/$1 otherwise; 5-20pts/$1 at ShopDiscover.com |
| Discover Student Credit Card - Monogram Collection | Good | 0% APR; Rewards; Student | Yes | 0% - 9 mos. | 12.99% - 18.99% (V) | $0 | 12.99% - 18.99% | 5pts/$1 on rotating categories; 1pt/$1 otherwise; 5-20pts/$1 at ShopDiscover.com |
| Discover Student Credit Card - Tropical Beach | Good | 0% APR; Rewards; Student | Yes | 0% - 9 mos. | 12.99% - 18.99% (V) | $0 | 12.99% - 18.99% | 5pts/$1 on rotating categories; 1pt/$1 otherwise; 5-20pts/$1 at ShopDiscover.com |
| Escape by Discover Card | Average - Good | 0% APR; Bal. Trans.; Rewards | Yes | 0% - 6 mos. | 10.99% - 20.99% (V) | $60 | 0% - 6 mos. | 1,000 bonus pts for each mo. the card is used (up to 25 mos.) |
| IberiaBank Visa Select Card | Excellent | 0% APR; Low APR | No | 0% - 12 mos. | 7.50% - 11.50% (V) | $35 | 1.99% - 12 mos. | APR strongly based on creditworthiness |
| Slate from Chase | Excellent | 0% APR; Bal. Trans | No | 0% - 15 mos. | 11.99% - 21.99% (V) | $0 | 0% - 15 mos. | No balance transfer fee for first 30 days |
Remember: The credit card details contained in this comparison chart are considered accurate as of 6/29/2012, and may not be accurate after this date. Since interest rates and offers change frequently, it’s always best to read all current Terms and Conditions agreements for any card you are considering. These can often be found on the credit card application, which you can access from this web page.
