13 Best 0% APR Credit Cards of December 2024

Both a 0% credit card and a low-interest credit card save you money on interest, but they do it in different ways — short-term versus long-term.

• A 0% credit card doesn’t charge any interest at all for a period of time after you open the account, then it shifts to an often-high ongoing interest rate. Zero-percent cards are good for people who want to spread out payments on a large purchase or gain breathing room to pay down debt without interest.

• A low-interest credit card charges an ongoing interest rate that's lower than other cards on the market. Low-interest cards are good for people who expect to roll over a balance most months (meaning they don’t pay off their balance in full every month).

How much your card payments will be with a 0% APR depends entirely on which bank issued your card, how much you put on the card and how much you are able to pay. Every issuer has its own formula for calculating your minimum payment. It's usually made up of the interest and fees that have added up over the past month, plus a small amount of the actual debt, say 1% or 2%. There may also be a minimum dollar amount for each payment, such as $40 (except in cases where the total statement balance is less than that). When you have a 0% APR in effect, no interest is adding up, so your entire payment can go toward paying down your debt.

A 0% credit card works just like any other credit card except that for a certain period of time after you open your account, the bank doesn’t charge any interest on your balance. You’re still responsible for paying at least the minimum amount due each month. (And be sure you do: If you don't, the issuer might cancel your 0% period.) Once the introductory 0% period ends, your APR rises to the ongoing rate, and you will be charged interest on your balance going forward.

Among credit cards from major issuers, the longest 0% APR periods tend to be around 18 months, although in a few cases you might find 20 or 21 months, especially for balance transfers. (Depending on the card, the 0% period may apply to purchases, balance transfers or both; some cards have different 0% periods for purchases and transfers.) Cards from smaller issuers or credit unions may offer longer 0% periods. It’s most common to see periods of 12 to 15 months.

Credit card issuers use 0% introductory offers to attract new customers, so to get one, your best bet is to apply for a new card that advertises a 0% period. Generally speaking, you’ll need good to excellent credit to qualify for a card with a 0% offer. That roughly translates to a credit score of 690 or better — although credit scores alone do not guarantee approval for any credit card. You’ll also need to be able to show income and meet other requirements.

If the card doesn’t charge an annual fee, there’s no harm in keeping the account open once the introductory 0% rate expires. In fact, closing the account could hurt your credit score by reducing the amount of credit you have available, which could increase your credit utilization. If the card charges a fee, however, or if you fear that the open credit line will tempt you to overspend, then closing it might be the best action.

A credit card with a 0% interest rate doesn't affect your score any more or less than a card with a regular interest rate. Your credit score takes into account how long the card has been open, how much debt you currently have on the card, the utilization ratio on the card (the current debt as a percentage of the total credit limit) and your payment history. The interest rate doesn't factor into scoring. That said, there are a couple of things to be aware of:

• Credit card issuers offer 0% promotions to entice you to use the card more. Overspending affects how much debt you carry on the card, and that can affect your credit scores indirectly.

• Charge cards (as opposed to credit cards) do not let you carry debt from month to month. The full balance is due each month. Therefore, these cards charge no interest, so they could be thought of as "no interest" cards. Many charge cards don't have a preset spending limit. Without a specified credit limit, scoring formulas can't calculate utilization for the card, so these cards can have a smaller impact on your score than a regular credit card.

Credit card issuers will sometimes offer you a promotional 0% APR on a card you already have — usually as an incentive to get you to use your card when you haven't been doing so. You can't really count on these offers, though. You could try calling your credit card company and asking for a 0% offer; it doesn't hurt to try. But this isn't likely to work if you've been using the card regularly.