Nowadays, it is practically impossible to find a credit card with 0% APR. As a matter of fact, to find 0% off of anything is rare, because everyone wants a piece of the pie. So what cards are available this year with zero interest until 2019? That is a very good question. Here is a list of what cards are available this year with zero interest until 2019, information on 0% balance transfers, and the answer to “how to do 0% balance transfers work”.
The Slate card from Chase is one of the best options when it comes to cards that allow for balance transfers with a 0 percent introductory fee. Many banks offer this, but most will require a balance transfer fee that usually equals between 3 and 5 percent of the transfer total. This means that you’ll likely pay between $30 and $50 for every $1,000 that you transfer. This is not necessarily the case with the Chase Slate. As long as you choose to transfer your balance within 60 days of opening the account, there is no balance transfer fee. After that, there is a 5 percent fee. The Slate comes with no annual fee. Additionally, there is no penalty APR if you make a late payment. The 0 percent introductory interest rate lasts for the first 15 months after account opening. If you make the transfer in the first 60 days and pay it off before the interest-free period is done, you’ll pay nothing in interest.
If you’re looking for more than 15 months to pay off a balance, the Citi Simplicity card will fit the bill. The interest-free period on balance transfers is a whopping 21 months, which gives you nearly two full years to pay off any credit card debt. Where this card lags a bit behind the Chase Slate is in terms of balance transfers. You’ll need to pay $30 on every $1,000 that you transfer, as there’s a 3 percent balance transfer fee. In addition to the benefit of having a 21-month, 0 percent introductory interest rate, the Citi Simplicity comes with no annual fee. Additionally, there are no late payment fees or penalty interest rates, and Citi advertises that the Simplicity will never charge these fees that can leak money from your budget. This is a solid offering for those looking to transfer a balance.
BankAmericard from Bank of America
The BankAmericard is an offering from Bank of America. The home page for this card does not advertise the lack of a penalty APR as the first two cards listed above do. However, there is a solid 18-month interest-free introductory rate for those who are approved for this card, and this should be plenty of time to pay down a nice chunk of debt. There is a balance transfer fee of 3 percent associated with the 18-month offer, so you’ll have to pay $30 on every $1,000 that you transfer. The BankAmericard does not charge an annual fee. Therefore, the only expense that you’ll see is the one-time 3 percent balance transfer fee.
The Discover It card is another solid option when it comes to attempting to save money with a 0 percent introductory rate. Like the Bankamericard, the Discover It offers 18 months as an interest-free period. It also comes with six months with no interest on purchases, although these purchases will start accruing interest after this period. There is a 3 percent balance transfer fee. Some of the other benefits that come with the Discover It includes no annual fee, no fees for going over the limit and no penalty APR.
Additional Benefits For The Discover It Card
Furthermore, there is no fee on foreign transactions, and cardholders earn at least 1 percent cash back for purchases as well as 5 percent on purchases in certain predetermined spending categories that rotate quarterly. Paying interest takes away money that you could use to buy things you need or to invest. By looking into these cards that offer 0 percent interest for a limited time on balance transfers, you could conceivably save hundreds or even thousands of dollars that would otherwise go to the bank. Of course, you’ll need to be sure to pay off the balance during the introductory period, or you’ll be stuck looking for another card or paying anywhere from 10 to 25 percent interest going forward. Avoiding these situations is definitely a good step to take.
Citi Diamond Preferred Card
One of the best cards to get this year is by far the Citi Diamond Preferred Card. This card comes with a 0% APR on purchases for the first 12 months after you get approved and the account has been opened. Also, there is 0% APR on balance transfers for the first 21 months after your account is opened, but this only applies if you have made a transfer within the first four months of opening an account. One of the better things about this card is that there is no annual fee. If you are working on building your credit back up, this card allows you to view your FICO score free of charge. Another great feature this card offers in the Citi Price Rewind access.
Special Benefit From Citi
The Citi Price Rewind access is a feature that allows cardholders to receive money back for an item that they paid for if they can find it online for cheaper. This offer stands for 60 days after you have purchased an item, and you can get back up to $500 per item and $2500 per year. On the other hand, the Citi Diamond card does not offer rewards like cash back, miles, or perk. How do 0% balance transfers work? If you are looking to transfer a balance to this card you would incur either a five dollar fee or 5% of the balance transferred fee, whichever is the greater of the two. You can transfer any amount, but the amount of the transfer and the transfer fees must be less than your credit limit. After the introductory APR, you are looking at 14.74% to 24.74% on purchases and transfers, depending on how good your credit score is. The APR for cash advances is typically 26.99%. You can avoid paying interest on purchases by paying the entire balance on the due date. All in all, the 0% introductory APR is worth getting the card by itself. There are not many cards out that are competing with the Citi Diamond Preferred Card.
Citi Double Cash Card
If you are looking for perks that include cash back with 0% APR for the first 18 months, then the Citi Double Cash Card is for you. This card, true to its name, gives the cardholder a double cashback reward. You get 1% when you make a purchase and 1% when you actually pay for the purchase, which is 2% cashback! Talk about a good deal. This is one of the highest cashback rates that can be found on the market to date.
No Caps on Cashback
There is not a cap as to how much cashback one can receive, so the sky is the limit. You must have a minimum of $25 in your cashback rewards to start redeeming your money, which you can receive as a gift card, check or statement of credit; they only thing you can’t redeem it as is a direct deposit. Balance transfers do not earn cashback. There is 0% APR on balance transfers for the first 18 months, for those who want information on 0% balance transfers, and 14.49% to 24.49% interest on transfers after that initial start period. So how do 0% balance transfers work? How it works is that you can transfer an amount that you owe on another to the card to this one at 0% interest on the transaction. Also, there is not an annual fee, and you are looking at a $10 fee or 5% of the amount for the cash advance fee. Ultimately the Citi Double Cash Card is one of the few cards on the market that offers a 2% cashback reward, and 0% APR on balance transfers for the first 18 months. This card would be a great pick for anyone.
One of the best names in the world of credit cards is Chase. The Chase Freedom card is also on the list of what cards are available this year with zero interest until 2019. There is not an annual fee for this card, and even though there is a late payment fee, there isn’t an additional penalty APR for late payments. You can earn $150 bonus after you spend $500 on purchases within the first three months of opening the account.
The Chase Freedom card also offers a special called the Rotating Categories. The Rotating Categories is special that allows you to earn extra cash back within a certain quarter when a category is specified. During this rotating special, you can earn up to 5% cash back on certain purchases. Also, if you decide not to redeem your cash back in the form of money, you can redeem points that can go towards Amazon purchases and travel plans. If you are looking for information on 0% balance transfers, the Freedom card offers 0% APR on purchases and balance transfers for the first 15 months. The Chase Freedom card is everything you want in a credit. One thing for sure is that Chase is a name you can count on.
They are many people in the world today who are looking for ways to pay off debt. These 0% APR balance transfer cards are a serious opportunity to eliminate some of the weight of that debt. But how do 0% balance transfers work? How they work is that someone is able to transfer a debt they owe from another lender to one of these cards at 0% APR on the transfer, which inadvertently frees up some extra money to start making a dent on the debt that you owe. It sounds unbelievable, but it is true. These are just a few of the wide variety of options available on the market now. So do your research for more information on 0% balance transfers, and choose wisely