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A Guide to Best Zero-Interest Credit Cards in 2020

Whether you’re looking for an efficient way to get rid of your old debt or want to get the most out of your everyday shopping, zero-interest credit cards are your best choice. During the introductory period, you don’t have to worry about paying interest, so you can focus on earning loyalty points, picking up bonuses, and enjoying some discounted deals. To make sure you make a solid, informed decision, we’ve created a list of the best zero-interest credit cards on the market. Read through our selection, pick your favorites, and be smart with your money.

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Top Interest-Free Credit Cards

Top 3 Picks

American Express Cash Magnet Card

Introductory 0% APR period

Generous statement credit bonus

Unlimited cash back

Apply Now READ REVIEW

Citi Diamond Preferred Card

Lengthy introductory 0% APR period

Covers purchases and balance transfers

Special deals on entertainment

Apply Now READ REVIEW

Capital One VentureOne Rewards

Good intro bonus

Unlimited cash back

No foreign purchase fees

Apply Now READ REVIEW

1. American Express Cash Magnet Card

Introductory 0% APR period

Generous statement credit bonus

Unlimited cash back

Apply Now

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With the Cash Magnet Card, you get 15 months of 0% APR for purchases with no annual fees. Besides that, there’s the $200 statement credit that activates if you spend $1,000 during the first three months. On top of all that, as long as you have the card, you get 1.5% cash back on every purchase.

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Intro APR period:

15 months

Regular APR:

13.99% to 23.99%

Credit score:

> 670

Annual fee:

$0

Intro bonus:

$200

Cash back:

1.5%

2. Citi Diamond Preferred Card

Lengthy introductory 0% APR period

Covers purchases and balance transfers

Special deals on entertainment

Apply Now

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Diamond Preferred is one of the best no-interest credit cards for excellent credit. With an 18-month intro APR period, you’ll be able to tackle even the most stubborn debts and make purchases interest-free. Exclusive access to Citi Entertainment will help you save more on tickets to your favorite events.

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Intro APR period:

18 months

Regular APR:

14.74% to 24.74%

Credit score:

> 720

Annual fee:

$0

Intro bonus:

N/A

Cash back:

N/A

3. Capital One VentureOne Rewards

Good intro bonus

Unlimited cash back

No foreign purchase fees

Apply Now

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As one of the best 0-APR credit cards out there, the VentureOne Rewards card has a lot to offer. The fact that it’s a one-year interest-free credit card is commendable, but it’s the cash back feature that takes the prize. You get a jumpstart with an initial 20,000 miles and keep accumulating rewards with every purchase.

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Intro APR period:

12 months

Regular APR:

15.49% to 25.49%

Credit score:

> 670

Annual fee:

$0

Intro bonus:

20,000 miles

Cash back:

1.25 to 5 miles per dollar spent

4. Chase Freedom Flex

Above-average introductory 0% APR period

Low bonus requirements

No cash back minimum

Apply Now

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Chase Freedom Flex finds itself among the best credit cards with 0 APR not only because of its introductory promotion of 15%, but also a generous intro bonus with much lower requirements than expected. The cash back rewards system might be complicated, but it’s worth the hassle. Redeem any amount you want on Amazon or through travel and gift cards. Or simply divert it to your savings account.

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Intro APR period:

15 months

Regular APR:

14.99% to 23.74%

Credit score:

> 670

Annual fee:

$0

Intro bonus:

$200

Cash back:

1-5%

How We Evaluate Zero-Interest Credit Cards - Our Methodology

Before we could present you with a reliable list of the best zero-interest credit cards, we had to come up with a solid methodology that painstakingly filtered out any subpar entries. We focused on the five elements we deemed most important and used them to evaluate scores of different products. Here is a breakdown of all the main factors we took into consideration.

APR

The first and the most important element is naturally credit card APR. We searched for companies that offer a 0% introductory rate and checked the duration of the promotion. The industry standard for this intro rate is 12 months, so anything longer gets a positive mark from us. However, our reviews of the best credit cards with zero interest will also let you know what interest rate you can expect after the promotion is done and whether it covers balance transfers as well as purchases.

We’ll also let you know the minimum credit scores the issuers of these cards require.

Bonuses

More often than not, credit card deals also include sign-up or introductory bonuses to give you an added incentive. These can be points, cash credit, or some other type of reward. However, before you can make use of it, you need to meet some requirements and pass the spending threshold. In our efforts to find only the best credit cards with zero percent interest, we dissect the offers and give you all the specifics.

That way you can see if the bonus is worth your time.

Fees

Sometimes good credit card deals can be riddled with fees that destroy what seemed like a solid offer. To stop you from falling into this kind of trap, we break down all the fees and point out the biggest hazards. This part of our review covers annual fees, additional charges for foreign purchases, balance transfer fees, late payment penalties, and anything else that might be important.

There’s no point in applying for the best no-interest credit cards for balance transfers if you have to pay huge chunks of cash every time you use them.

Cash Back

A lot of people use low-interest credit cards specifically because they offer rewards through their loyalty programs. Our reviews will tell you exactly how many points you get for your purchases, where you can redeem them, and how you can boost their efficiency. High-end companies will often offer you a wide selection of redemption options in partnership with big platforms like Amazon. The greater the diversity, the better.

Special Offers

Finally, we check to see if there are any special privileges or services you get with the card. This can be a matter of enhanced security or discounts for your favorite events. The best 0-interest credit cards should offer you $0 liability and identity theft protection services while also providing consistent customer assistance. If there’s anything worth your attention we’ll be sure to let you know.

 

American Express occupies a unique position within the market. Its cards are used by millions of satisfied customers, yet many merchants decide not to accept Amex cards because of the high fees. In that sense, opting for Amex is a gamble that might well be worth it.

One of the biggest incentives to try it is the company’s best 0% APR credit card named Cash Magnet. This rewards card offers a solid introductory APR period, a welcome bonus within the first three months, and an unlimited cash back feature. Let’s get into the specifics.

Requirements and APR

To qualify you for the American Express Cash Magnet Card, your credit score should be higher than 670 according to the FICO system. This means that the card is reserved for users who have a score ranging from good to excellent. You can quickly check whether you prequalify for the card by filling out a form on the site. It won’t affect your score, and you’ll get the answer in just 30 seconds.

The introductory period with the best 0-interest credit cards usually lasts a year. The Amex Cash Magnet Card surpasses industry standards with 15 months of 0% APR, but this only applies to purchases. After that period is over, the APR switches to its regular value, which falls between 13.99% and 23.99%.

The percentage can vary depending on your credit, so it’s a good idea to bump it up before applying. The company will calculate the percentage based on your credit score on the day your account is created, but the interest you pay can also fluctuate with time.

Fees and Rewards

With the American Express Cash Magnet credit card, you won’t pay annual fees. The penalty fees for late and returned payments can go up to $40, however. You’ll find that many of the best no-interest credit cards don’t charge transaction fees, but Cash Magnet does. The cash advance transaction fee is $10 or 5% of the amount, whichever is larger. Foreign transactions incur a 2.7% fee but only after the sum is converted to US dollars.

To get the welcoming $200 statement credit bonus, you’ll have to spend $1,000 on purchases within the first three months. After reaching that threshold amount, you can expect the credit to be in your account within 12 weeks. In addition to this welcome bonus, Amex offers cash back at a fairly low rate of 1.5%.

However, Cash Magnet makes up for this with the fact that the cash back offer is unlimited. As long as your best zero-interest credit card is active, you’ll keep earning points that can be redeemed for cash.

PlanIt and PayIt

When it comes to using your interest-free credit card, Cash Magnet’s online component lets you choose between two modes: American Express PlanIt and PayIt. With PlanIt, you can easily split your purchases over $100 and add them to your balance. The on-site calculator shows you the interest and payment amounts so you know exactly what you’re doing.

The other option is PayIt, which allows you to purchase items under $100 and immediately pay the balance. These single-tap systems are quick and user-friendly, making Amex’s best credit cards with 0 interest a joy to work with.

Reasons to Apply

Introductory 0% APR for 15 months

$200 statement credit

Unlimited 1.5% cash back

User-friendly interface

Car rental loss and damage insurance

Fraud protection

With more than 200 million customers worldwide, Citigroup is one of the biggest financial companies in the US. Its Diamond Preferred Card is a perfect example of the kind of high-end product clients have learned to expect from this company. The main benefit is that you get 18 months of 0% introductory APR that you can use to settle debts or make purchases.

This fact alone places it among the best zero-interest balance transfer credit cards on the market, but it’s not all Citi has to offer. Here’s a short overview of what you can expect.

Intro APR

First off, let’s talk about the APR. With Citi Diamond Preferred Card, you get 18 months of zero interest on both balance transfers and purchases. This is 50% longer than the industry standard, and it might be enough time to help you take charge of persistent debts. One thing to keep in mind, however, is that Citi charges balance transfer fees of $5 or 3% of the amount, whichever is greater.

Take that into account when making your calculations so it doesn’t surprise you.

Like all of the best interest-free credit cards, Citi Diamond Preferred switches your rate to its regular APR after the promotional period. The rate will be between 14.74% and 24.74%. This rate depends in large part on your credit score, so it’s always a good idea to boost it up before applying for a card. In any case, you’ll need an excellent score to qualify: above 720.

Fees and Protection

Unsurprisingly, this is one of the best credit cards with no annual fee, but there are other extra charges you need to know about. The minimum interest charge is $0.50, the fee for foreign purchases is 3% after US dollar conversion, and the cash advance fee is $10 or 5% of the amount you take, whichever is higher.

If you’re late with payments on Citi’s best 0-interest credit card, you will face a penalty APR that can go up to 29.99%. The same rules apply if your payment is returned.

With the Citi Diamond Preferred Card, you get $0 liability on unauthorized charges. This means that you won’t be held responsible for any fraud attempts or misuse of the card. Citi will even help you with identity restoration should someone try to steal your identity.

Citi Entertainment Access

One of the more colorful benefits that this card offers is full access to the Citi Entertainment website. It is a ticket-selling platform that lets you find special deals for events in the world of music, sports, and theater. This is a reward-redeeming option that no other credit cards with 0 APR for 18 months have.

It’s simply an exclusive offer that could net card users complimentary tickets, VIP service, and discounts. The platform is easy to use and can be filtered by events, locations, and dates.

 

Reasons to Apply

18-month introductory APR period

Includes balance transfers and purchases

Citi Entertainment access

Identity and purchase protection

No annual fees

In nearly three decades of existence, Capital One has managed to craft a reputation for being a technology-focused bank. It has invested heavily in automation, synchronization, and connection with massive companies like Amazon. That’s why it makes sense that one of its best zero-interest credit cards would offer you a wide range of point-earning and redeeming options.

Is the card worth your time? We’ll let you be the judge of that.

Intro APR and Fees

First things first – the Capital One VentureOne Rewards Credit Card gives you an introductory APR of 0% for the first 12 months. This period is in line with the industry standard. The no interest for a year credit card promotion applies only to purchases; it doesn’t include balance transfers. After the first year, the APR will rise to 15.49%, 21.49%, or 25.49%, depending on your creditworthiness.

Capital One’s best credit card with no interest includes no annual fee, which is standard practice for these types of cards. You also won’t be charged a fee for foreign purchases. Balance transfers are charged 3% per transfer, but only if there is an active APR promotion. If you’re going by regular rates, there is no fee.

Cash advances include a fairly standard APR of 25.49% with fees of 3% or $10, whichever is greater. Interestingly, the company will penalize you only for late payments – the charge is $40. There are no other transgressions that might trigger a penalty.

Bonus and Cash Back

The card’s reward system is based on miles. As an introductory bonus, you’ll get 20,000 miles on your account if you spend more than $1,000 during the first three months. The value of Capital One’s best no-interest credit card intro bonus offer is about $200 in travel. Once you complete the required purchases, the bonus will be added to your account in approximately 20 days.

For every dollar you spend on purchases, Capital One will add 1.25 miles to your account. There is no limit to how many you can collect, and they don’t expire as long as the account is active. It should be noted that the rate of 1.25 miles per dollar is only for standard purchases.

Other promotions allow you to earn miles faster. For example, paying for hotels through Capital One Travel will get you five miles per dollar, as will food orders through Uber Eats. You can redeem your rewards with PayPal or use them to buy products at Amazon.

Travel Protection

Most of the best zero-percent interest credit cards will offer you some form of insurance, but Capital One brings insurance to a whole new level. You get the standard $0 fraud liability and security alerts whenever the system detects something suspicious. In addition to that, you have the option to quickly lock your cards in case they get stolen.

You can keep an eye on your credit reports and get notified when something changes. It’s also possible to use disposable virtual card numbers for your purchases to make sure your originals are safe at all times.

Reasons to Apply

Intro bonus of 20,000 miles

1.25 miles per dollar rewards

No foreign purchase fee

No annual fee

Numerous security measures

With an above-average intro APR period and lower-than-usual bonus requirements, Chase Freedom Flex stealthily earns a place among the best 0-interest credit cards on the internet. Its offer isn’t that impressive at first glance, but the more you look, the more you start to appreciate its value. Let’s get through that initial impression and see what’s available.

APR and Fees

The introductory 0% APR lasts for 15 months, which is slightly above the industry standard. This promotion applies only to purchases – not balance transfers. After 15 months, the rate resets to 14.99% to 23.74%. The cash advance APR is slightly higher but falls within the standard range at 24.99%.

To qualify for this credit card with low APR and no annual fee, you don’t need a perfect credit score, but it should be over 670. The higher the score, the lower your regular APR will be after the first year.

There is no minimum interest rate and no annual fee. Balance transfers will cost you $5 or 5% of the amount, while the fee for cash advances will be $10 or 5%. Foreign transactions incur a charge of 3% of the total amount once it’s converted to US dollars. There are also the usual penalties for late and return payments – up to $39 each.

Intro Bonus and Cash Back

While the intro bonus of $200 isn’t very different from what the other best credit cards with no interest have to offer, the requirements are 50% lower. Namely, to get the statement credit, you only need to spend $500 on purchases in your first three months. Once you meet the requirements, the bonus will appear in your account within eight weeks.

Technically, it’s transferred to you in the form of 20,000 points, so you can either turn it into cash or redeem it another way.

Speaking of the cash back rewards program, Chase Freedom Flex can be a bit on the tricky side. Top 0% APR credit cards like this one offer you different rates at which you earn points based on your purchases. For example, standard transactions yield 1% cash back for every dollar spent. A 3% rate comes for drugstore and restaurant dining transactions.

To get the maximum 5%, you’ll need to book your travel through Chase’s Ultimate Rewards program. The same rate applies to grocery shopping (excluding Walmart and Target) and special categories that are updated quarterly. It can be difficult to keep track of all these elements, so feel free to bother customer support asking for specifics.

It’s also worth mentioning that unlike many of the best credit cards with no interest, Chase Freedom Flex doesn’t require a cash back minimum. You can redeem your points whenever you want and turn them into statement credit, make direct deposits to your savings account, or spend them on Amazon.

Reasons to Apply

Intro APR period of 15 months

Cash back up to 5%

Intro bonus $200

No minimum interest rate

No minimum for redeeming points

Fortunly’s Guide to Responsible Credit Card Use: Do’s and Don’ts

The best intro rate credit cards can be quite tempting, but before you apply, make sure you read through our list of basic do’s and don’ts. These are some useful things to keep in mind if you want to stay safe and financially healthy.

  • Pay your balance in full. If at all possible, pay your balance in full every month, down to the last cent. Even if it’s just a few dollars, do your best to settle the debt. That way you won’t trigger any interest fees or penalties. More importantly, paying your bills regularly improves your credit score and sends positive signals to your bank.
  • No interest doesn’t mean no payments. It may sound ridiculous, but some people think that using the best 0-interest rate credit cards somehow absolves them from monthly payments. As the name suggests, it’s only the interest that’s put on hold – the balance is still there. Be sure to read the terms and conditions fine print before applying for any credit card. It has all the answers.
  • Be on the lookout for identity thieves. Identity theft is one of the biggest problems on the internet today. We share so much personal information with websites and apps that it’s only a matter of time before someone takes advantage of it. To prevent that, be sure to use proper security measures online, check your accounts regularly, and perhaps even invest in identity theft protection services.
  • Use promotions. If you’ve opted for one of the best 0-interest balance transfer credit cards, remember to use all the promotions available. Check the bank’s website or subscribe to its newsletter to ensure you don’t miss any good deals. Special rewards and offers can help you get the best out of your money.
  • Charge only what you can afford. Finally, don’t forget the simple truth that any credit you take is money you need to pay back eventually. Don’t get in over your head with debt just because you can. The best zero-interest credit cards with balance transfer will make it seem like your debt isn’t even there, but you know better. Always be responsible with your funds.

FAQ

What is the best 0% interest credit card?

You can’t go wrong with American Express and, specifically, the company’s Cash Magnet Card. It gives you a generous 15-month introductory APR at 0% for any purchases you make. In addition to that, you get a $150 statement credit bonus as soon as you spend $1,000 with your card. Another solid choice among the best 0% APR credit cards is the Citi Diamond Preferred Card. It raises the bar with an 18-month 0% introductory APR for both purchases and balance transfers. You also get free access to your FICO score and an opportunity to buy event tickets through Citi Entertainment.

Do no-interest credit cards hurt your credit?

Owning and using credit cards with no interest rate in the introductory period won’t damage your score. This is a common misconception. Cardholders who complain about lowered scores have usually made other poor judgments. These include: applying for a couple of the best zero-APR credit cards at the same time, thinking that 0% APR means they’re free from paying their monthly bills, or having a high card utilization ratio. It’s important to remember that APRs rise immediately to high rates after the introductory period, which could catch you off guard. Know your financial obligations and you’ll be fine.

What credit score do I need for 0 APR?

In most cases, card issuers demand a good or excellent score before offering you 0% APR credit cards. While the exact values can vary, you should be aiming for a FICO score of at least 670. To improve your chances of getting the best 0 percent interest credit cards, try to bump up your score to at least 750 by paying off your outstanding debts and reducing your card utilization ratio. Keep in mind that even if you receive an offer for this type of credit, it doesn’t mean you’ll automatically qualify. Don’t get ahead of yourself.

Is it bad to have a lot of credit cards with zero balance?

The answer to this question depends on the type of balance you have on those cards. If you have a balance of zero because you make all your monthly payments on time, you’re in the clear. However, if you have lots of the best credit cards with zero interest lying around that haven’t been used in months, your credit score will plummet. What’s interesting, however, is that you can easily use that situation to your advantage. Pay off some debts and you’ll decrease your overall card utilization ratio for all cards and accounts, which will bring your credit score up.

Is it better to cancel unused credit cards or keep them?

In most cases, it’s better to keep credit cards open because you’ll have a longer credit history and, ultimately, get higher limits and lower interest rates. The fact that you already have the best zero-interest credit cards means you already have a decent credit score and a good track record. That said, you might want to consider canceling the cards if you’re prone to excessive spending. Having open, unused credit could also make you a perfect target for identity theft. Someone might get access to your accounts and leave you in debt.