Friday, 3 April 2020

Best 0% APR Credit Card Offers – February 2020

Best 0% APR Credit Card Offers – February 2020
03 Feb
6:28

If you’re struggling under the weight of heavy credit card debt – and it seems next to impossible to pay down your balance due to high interest charges – you should consider signing up for an introductory 0% balance transfer credit card.

Balance transfer cards allow you to transfer your balance from a different credit card without paying interest for an extended period of time.

The ideal balance transfer card offers a 0% introductory APR for more than a year and doesn’t charge a balance transfer fee. That said, credit cards that do charge balance transfer fees – which typically range from 3% to 5% of the amount of each transfer – often offer longer introductory APR periods.

Read on to learn more about some of the longest balance transfer offers currently available.

15-month intro APR, no balance transfer fee

The Amex EveryDay® Credit Card from American Express

With The Amex EveryDay® Credit Card from American Express, cardholders enjoy an intro APR of 0% for 15 months on balance transfers, then an APR of 14.49% – 25.49% (variable) applies – with a $0 balance transfer fee.

Additionally, the $0 annual fee card offers an intro APR of 0% for 15 months on purchases, then a regular APR of 14.49% – 25.49% (variable) will apply.

While The Amex EveryDay® Credit Card from American Express does not come with a welcome offer, it does allow cardholders to earn 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases.

Balance transfer window. To take advantage of the introductory APR period, cardholders must request balance transfers within 60 days of account opening.

Balance transfer fee. The Amex EveryDay® Credit Card from American Express charges a $0 balance transfer fee.

Read our The Amex EveryDay® Credit Card from American Express review.

Intro APR for 21 months, with a balance transfer fee

Citi Simplicity® Card – No Late Fees Ever<!–Citi Simplicity® Card – No Late Fees Ever–>

The Citi Simplicity® Card – No Late Fees Ever<!–Citi Simplicity® Card – No Late Fees Ever–> offers an introductory APR on balance transfers for nearly two years. Cardholders receive an introductory 0% for 21 months on balance transfers<!–Citi Simplicity® Card – No Late Fees Ever–>. After that, the regular APR is 16.24% – 26.24% (variable)<!–Citi Simplicity® Card – No Late Fees Ever–>. Cardholders can also take advantage of an introductory APR of 0% for 12 months on purchases<!–Citi Simplicity® Card – No Late Fees Ever–>, then an APR of 16.24% – 26.24% (variable)<!–Citi Simplicity® Card – No Late Fees Ever–> will apply.

While the Citi Simplicity® Card – No Late Fees Ever<!–Citi Simplicity® Card – No Late Fees Ever–> offers the longest intro APR on balance transfers among the cards in this post, it does not offer rewards for the purchases you make.

That said, the card comes with a $0<!–Citi Simplicity® Card – No Late Fees Ever–> annual fee.

Balance transfer window. You must make the balance transfer within four months of opening your card account.

Balance transfer fee. The Citi Simplicity® Card – No Late Fees Ever<!–Citi Simplicity® Card – No Late Fees Ever–> charges a fee of either 5% of each balance transfer; $5 minimum<!–Citi Simplicity® Card – No Late Fees Ever–>.

Intro APR for 18 months, with a balance transfer fee

Discover it® Balance Transfer<!–Discover it® Balance Transfer–>

Discover it® Balance Transfer

Regular APR
13.49% – 24.49% Variable
Intro Purchase APR
0% for 6 months
Intro BT APR
0% for 18 months
Annual fee
$0
Rewards Rate
5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases – automatically
Balance Transfer Fee
3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
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The Discover it® Balance Transfer<!–Discover it® Balance Transfer–> offers a 0% intro APR on balance transfers for 18 months, then a regular APR of 13.49% – 24.49% variable<!–Discover it® Balance Transfer–> applies. The Discover it® Balance Transfer<!–Discover it® Balance Transfer–> also offers an intro APR on purchases of 0% for 6 months<!–Discover it® Balance Transfer–>, then a 13.49% – 24.49% variable<!–Discover it® Balance Transfer–> APR applies.

Along with the introductory offers on balance transfers and purchases, the $0<!–Discover it® Balance Transfer–> annual fee Discover it® Balance Transfer<!–Discover it® Balance Transfer–> offers 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases – automatically. Plus, for new card members, Discover will automatically match all the cash back you earn at the end of your first year.*

Balance transfer window. The introductory APR applies to balance transfers that post to your account by April 10, 2020.

Balance transfer fee. With the Discover it® Balance Transfer<!–Discover it® Balance Transfer–>, you’ll be charged a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*<!–Discover it® Balance Transfer–> intro fee for balances transferred by April 10, 2020. After that, a fee of up to 5% on future balance transfers will apply.

Read our Discover it® Balance Transfer<!–Discover it® Balance Transfer–> review.

Wells Fargo Platinum card

With the Wells Fargo Platinum card, you can enjoy an intro APR on balance transfers of 0% for 18 months on qualifying balance transfers. After that, the regular APR will be 16.99%-26.49% (variable). Cardholders also receive an intro APR of 0% for 18 months<!–Wells Fargo Platinum Visa® Card–> on purchases, then a 16.99%-26.49% (variable) APR will apply.

The Wells Fargo Platinum card comes with a $0<!–Wells Fargo Platinum Visa® Card–> annual fee; however, the card does not offer a sign-up bonus or rewards rate. Also, if you have opened a Wells Fargo credit card within the last 15 months and received an introductory APR, you may not be eligible to receive the Wells Fargo Platinum card’s current introductory APR offer.

Balance transfer window. To take advantage of the introductory APR on balance transfers, cardholders must request a transfer within 120 days of account opening.

Balance transfer fee. Cardholders will be charged an introductory balance transfer fee of 3% for 120 days, then 5%<!–Wells Fargo Platinum Visa® Card–>.

Citi® Double Cash Card – 18 month BT offer<!–Citi® Double Cash Card – 18 month BT offer–>

The Citi® Double Cash Card – 18 month BT offer<!–Citi® Double Cash Card – 18 month BT offer–> offers an intro APR of 0% for 18 months on balance transfers<!–Citi® Double Cash Card – 18 month BT offer–>, then an APR of 15.49% – 25.49% (variable)<!–Citi® Double Cash Card – 18 month BT offer–> applies. The Citi® Double Cash Card – 18 month BT offer<!–Citi® Double Cash Card – 18 month BT offer–> has a $0<!–Citi® Double Cash Card – 18 month BT offer–> annual fee.

With the Citi® Double Cash Card – 18 month BT offer<!–Citi® Double Cash Card – 18 month BT offer–>, you’ll earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.<!–Citi® Double Cash Card – 18 month BT offer–> Keep in mind that like other rewards credit cards, you cannot earn cash back on balance transfers.

Balance transfer window. To receive the introductory APR on balance transfers, you must complete the transfer within four months of opening your account.

Balance transfer fee. The Citi® Double Cash Card – 18 month BT offer<!–Citi® Double Cash Card – 18 month BT offer–> charges a balance transfer fee of 3% of each balance transfer; $5 minimum.<!–Citi® Double Cash Card – 18 month BT offer–>

Intro APR for 15 months, with a balance transfer fee

BankAmericard® credit card<!–BankAmericard® Credit Card–>

The BankAmericard® credit card<!–BankAmericard® Credit Card–> offers a 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days<!–BankAmericard® Credit Card–>, then a regular 14.49% – 24.49% Variable APR<!–BankAmericard® Credit Card–> applies. The $0<!–BankAmericard® Credit Card–> annual fee card also offers a 0% Introductory APR on purchases for 15 billing cycles<!–BankAmericard® Credit Card–>, then a 14.49% – 24.49% Variable APR<!–BankAmericard® Credit Card–> applies.

Although the BankAmericard® credit card<!–BankAmericard® Credit Card–> comes with a lengthy intro offer for balance transfers, keep in mind that it does not offer a sign-up bonus or rewards program.

Balance transfer window. You must transfer your balance in the first 60 days to take advantage of the introductory APR and balance transfer fee offers.

Balance transfer fee. The BankAmericard® credit card<!–BankAmericard® Credit Card–> offers a $0 introductory fee for transactions made within 60 days of opening your account. after that, your fee will be:either $10 or 3% of the amount of each transaction, whichever is greater.<!–BankAmericard® Credit Card–>

Read our BankAmericard® credit card<!–BankAmericard® Credit Card–> review.

Chase Slate®<!–Chase Slate®–>

The Chase Slate®<!–Chase Slate®–> card offers a 0% Intro APR on Balance Transfers for 15 months<!–Chase Slate®–>, then an APR of 16.74% – 25.49% variable<!–Chase Slate®–> will apply. The card also offers a 0% Intro APR on Purchases for 15 months<!–Chase Slate®–>, then a 16.74% – 25.49% variable<!–Chase Slate®–> APR applies.

The Chase Slate®<!–Chase Slate®–> card comes with a $0<!–Chase Slate®–> annual fee, and does not offer rewards for the purchases you make.

Balance transfer window. The introductory APR applies to balances that are transferred within 60 days of opening your Chase Slate®<!–Chase Slate®–> card account.

Balance transfer fee. The Chase Slate®<!–Chase Slate®–> card comes with a Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.<!–Chase Slate®–>

Read our Chase Slate®<!–Chase Slate®–> review.

Capital One® Quicksilver® Cash Rewards Credit Card<!–Capital One® Quicksilver® Card – 0% Intro APR for 15 Months–>

The Capital One® Quicksilver® Cash Rewards Credit Card<!–Capital One® Quicksilver® Card – 0% Intro APR for 15 Months–> comes with a 0% intro on balance transfers for 15 months<!–Capital One® Quicksilver® Card – 0% Intro APR for 15 Months–>. After that, the APR is 15.49% – 25.49% (variable)<!–Capital One® Quicksilver® Cash Rewards Credit Card–>. Along with a $0<!–Capital One® Quicksilver® Card – 0% Intro APR for 15 Months–> annual fee, the card offers a 0% intro on purchases for 15 months<!–Capital One® Quicksilver® Card – 0% Intro APR for 15 Months–>, then a 15.49% – 25.49% (variable)<!–Capital One® Quicksilver® Cash Rewards Credit Card–> APR applies.

Cardholders can earn a one-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening<!–Capital One® Quicksilver® Card – 0% Intro APR for 15 Months–>. The card also offers unlimited 1.5% cash back on every purchase, every day<!–Capital One® Quicksilver® Cash Rewards Credit Card–>.

Balance transfer window. You can request a transfer starting 10 days after opening your Capital One® Quicksilver® Cash Rewards Credit Card<!–Capital One® Quicksilver® Card – 0% Intro APR for 15 Months–> account. Transfers must be made within the first 15 months of account opening.

Balance transfer fee. The card charges 3%<!–Capital One® Quicksilver® Card – 0% Intro APR for 15 Months–> of the amount of each balance transfer that posts to your account during the first 15 months that your account is open.

Read our Capital One® Quicksilver® Cash Rewards Credit Card<!–Capital One® Quicksilver® Card – 0% Intro APR for 15 Months–> review.

Chase Freedom Unlimited®<!–Chase Freedom Unlimited®–>

Chase Freedom Unlimited®<!–Chase Freedom Unlimited®–> cardholders receive a 0% Intro APR for 15 months<!–Chase Freedom Unlimited®–> on balance transfers, then an APR of 16.49% – 25.24% variable<!–Chase Freedom Unlimited®–> will apply. Additionally, the card offers a 0% Intro APR for 15 months<!–Chase Freedom Unlimited®–> on purchases, then a 16.49% – 25.24% variable<!–Chase Freedom Unlimited®–> APR applies.

The Chase Freedom Unlimited®<!–Chase Freedom Unlimited®–> card charges a $0<!–Chase Freedom Unlimited®–> annual fee. Plus, cardholders can earn $150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn unlimited 1.5% cash back on all purchases.<!–Chase Freedom Unlimited®–>

Balance transfer window. The intro balance transfer offer applies to balances transferred within the first 60 days of account opening.

Balance transfer fee. The Chase Freedom Unlimited®<!–Chase Freedom Unlimited®–> offers a 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5, then either $5 or 5% of the amount of each transfer, whichever is greater.<!–Chase Freedom Unlimited®–>

Read our Chase Freedom Unlimited®<!–Chase Freedom Unlimited®–> review.

Bank of America® Cash Rewards credit card – $200 Cash Rewards Offer<!–Bank of America® Cash Rewards credit card–>

The Bank of America® Cash Rewards credit card – $200 Cash Rewards Offer<!–Bank of America® Cash Rewards credit card–> offers a 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days<!–Bank of America® Cash Rewards credit card–>, then a 15.49% – 25.49% Variable APR<!–Bank of America® Cash Rewards credit card–> will apply. The $0<!–Bank of America® Cash Rewards credit card – $200 Cash Rewards Offer–> annual fee card also offers a 0% Introductory APR on purchases for 15 billing cycles<!–Bank of America® Cash Rewards credit card–>, then a 15.49% – 25.49% Variable APR<!–Bank of America® Cash Rewards credit card–> will apply.

Cardholders can earn a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening<!–Bank of America® Cash Rewards credit card–>. Plus, earn 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, 1% on all other purchases<!–Bank of America® Cash Rewards credit card–>.

Balance transfer window. The introductory APR applies to balance transfers made within 60 days of opening your Bank of America® Cash Rewards credit card – $200 Cash Rewards Offer<!–Bank of America® Cash Rewards credit card–> account.

Balance transfer fee. You will be charged the following balance transfer fee: Either $10 or 3% of the amount of each transaction, whichever is greater.<!–Bank of America® Cash Rewards credit card – $200 Cash Rewards Offer–>

Capital One® SavorOne® Cash Rewards Credit Card<!–Capital One® SavorOne® Cash Rewards Credit Card–>

Capital One® SavorOne® Cash Rewards Credit Card

Capital One® SavorOne® Cash Rewards Credit Card

APPLY NOW Secured

on Capital One’s website

Capital One® SavorOne® Cash Rewards Credit Card

Regular Purchase APR
15.49% – 25.49% (Variable)
Intro Purchase APR
0% intro on purchases for 15 months
Intro BT APR
0% intro on balance transfers for 15 months
Annual fee
$0
Rewards Rate
3% Cash Back on dining; 3% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases
Balance Transfer Fee
3%

Capital One® SavorOne® Cash Rewards Credit Card<!–Capital One® SavorOne® Cash Rewards Credit Card–> holders can receive a 0% intro on balance transfers for 15 months<!–SavorOneSM Rewards from Capital One®–>, then a 15.49% – 25.49% (variable)<!–Capital One® SavorOne® Cash Rewards Credit Card–> APR will apply, as well as a 0% intro on purchases for 15 months<!–SavorOneSM Rewards from Capital One®–> on purchases, then a 15.49% – 25.49% (variable)<!–Capital One® SavorOne® Cash Rewards Credit Card–> APR applies.

The $0<!–SavorOneSM Rewards from Capital One®–> annual fee card also lets cardholders 3% cash back on dining; 3% cash back on entertainment; 2% cash back at grocery stores; 1% cash back on all other purchases<!–Capital One® SavorOne® Cash Rewards Credit Card–>. Plus, earn a one-time $150 cash bonus after you spend $500 on purchases within the first 3 months from account opening<!–SavorOneSM Rewards from Capital One®–>.

Balance transfer window. Cardholders can request a balance transfer starting 10 days after opening their account. Transfers must be made within the first 15 months of account opening.

Note, transfer eligibility is determined by Capital One.

Balance transfer fee. Cardholders will incur charges of 3%<!–SavorOneSM Rewards from Capital One®–>

Citi Rewards+â„  Card<!–Citi Rewards+SM Card–>

The Citi Rewards+â„  Card<!–Citi Rewards+SM Card–> offers an introductory APR on balance transfers of 0% for 15 months<!–Citi Rewards+SM Card–>. After that, a regular APR of 14.99% – 24.99% (variable)<!–Citi Rewards+SM Card–> applies. Plus, the card offers an intro APR of 0% for 15 months<!–Citi Rewards+SM Card–> on purchases, then a 14.99% – 24.99% (variable)<!–Citi Rewards+SM Card–> APR applies.

Earn 15,000 bonus points after you spend $1,000 in purchases with your card within 3 months of account opening; redeemable for $150 in gift cards at thankyou.com<!–Citi Rewards+SM Card–>. Plus, earn 2X ThankYou® Points at Supermarkets and Gas Stations for the first $6,000 per year and then 1X Points thereafter. Plus, earn 1X Points on All Other Purchases<!–Citi Rewards+SM Card–>.

Like the other cards in this post, the Citi Rewards+â„  Card<!–Citi Rewards+SM Card–> comes with a $0<!–Citi Rewards+SM Card–> annual fee.

Balance transfer window. The introductory APR applies to balance transfers that are complete within the first four months of account opening.

Balance transfer fee. The Citi Rewards+â„  Card<!–Citi Rewards+SM Card–> comes with a balance transfer fee of either 3% of cash balance transfer; $5 minimum<!–Citi Rewards+SM Card–>.

Helpful tips for transferring a balance

Balance transfer cards can serve as a great tool to help pay down your credit card debt, as long as you pay off the total amount of the transfer within the promotional time frame, that is.

But before transferring a balance, it’s a good idea to review the following tips:

  • Never use the card for spending. This card should never be used for new purchases, as it’s possible you’ll get charged a higher rate on those purchases. Plus, adding new charges to the card defeats the purpose of whittling down a transferred balance during a 0% interest period.
  • Don’t try to transfer debt between two cards from the same bank. It’s not allowed. Balance transfer deals are meant to “steal” your balance from a competing bank, not lower your rate from the same bank. So, if you have a Chase credit card with a high rate, don’t apply for another Chase card expecting to transfer your balance. Instead, apply for a balance transfer card from a different bank.
  • Complete the transfer within the balance transfer window. Otherwise, you may not be able to take advantage of the introductory APR or the introductory balance transfer fee (if applicable).
  • Never use your balance transfer card at an ATM. You should never use a balance transfer card for spending until the transferred balance is paid off. Plus, getting cash from a card can be incredibly expensive due to cash advance fees. This is something you should avoid with any credit card.
  • Always pay on time. If you pay more than 30 days late, your credit will be hurt, your 0% interest rate deal may be forfeited and you may find it harder to find good deals in the future. Only do balance transfers if you’re ready to pay at least the minimum amount due each month and on time.

Source: https://www.magnifymoney.com/blog/balance-transfer/no-fee-balance-transfer-credit-card1322859387/

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