Best 0% APR Credit Cards of August 2024

When it comes to managing your finances, selecting the right credit card can make a significant impact, especially if you are looking to minimize interest payments. A 0% APR credit card offers an introductory period—often 12 to 18 months—during which you won’t pay any interest on purchases and sometimes balance transfers. This can be particularly beneficial for paying off large purchases or consolidating high-interest debt. Below, we explore some of the best 0% APR credit cards available in August 2024, detailing their features, benefits, and how they can help you save money.

Top 0% APR Credit Cards

Discover it® Cash Back

Best Feature: Cash back on everyday purchases.
Credit Needed: Excellent, Good (670-850)
Intro Bonus: Discover will match all the cash back you’ve earned at the end of your first year.
Annual Fee: $0
Regular APR: 18.24% – 28.24% Variable APR
Benefits:

• 5% cash back on rotating categories each quarter up to the quarterly maximum, when you activate.
• 1% cash back on all other purchases.
• No annual fee and a generous intro APR offer.

Wells Fargo Reflect® Card

Best Feature: Lengthy low introductory APR.
Credit Needed: Good to Excellent (670-850)
Annual Fee: $0
Regular APR: 18.24%, 24.74%, or 29.99% Variable APR
Benefits:

• Introductory 0% APR for up to 21 months on purchases and qualifying balance transfers.
• No annual fee and robust fraud protection features.

Citi Rewards+® Card

Best Feature: Two points per dollar spent at gas stations.
Credit Needed: Excellent, Good (670-850)
Intro Bonus: Earn 20,000 bonus points after you spend $1,500 in purchases with your card within 3 months of account opening.
Annual Fee: $0
Regular APR: 18.74% – 28.74% Variable
Benefits:

• Rounds up to the nearest 10 points on every purchase.
• 2X points at supermarkets and gas stations for the first $6,000 per year and 1X points on all other purchases.

Chase Freedom Unlimited®

Best Feature: Flexible cash back rewards.
Credit Needed: Excellent, Good (670-850)
Intro Bonus: Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year).
Annual Fee: $0
Regular APR: 20.49% – 29.24% Variable
Benefits:

• 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases during the first year.
• No annual fee and access to Chase Ultimate Rewards.

Blue Cash Everyday® Card from American Express

Best Feature: Cash back on everyday purchases.
Credit Needed: Good, Excellent (670-850)
Intro Bonus: Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
Annual Fee: $0
Regular APR: 19.24% – 29.99% Variable
Benefits:

• 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases).
• 2% cash back at U.S. gas stations and select U.S. department stores.

How 0% APR Credit Cards Work

0% APR credit cards offer an introductory period during which no interest is charged on purchases and sometimes balance transfers. This period typically lasts between 12 and 18 months. After the introductory period ends, the regular APR applies to any remaining balance. These cards are ideal for financing large purchases or consolidating high-interest debt.

Pros and Cons

Pros

• Interest Savings: No interest charges during the introductory period.
• Debt Consolidation: Ability to consolidate high-interest debt.
• Large Purchases: Finance large purchases without immediate interest.

Cons

• High APR After Intro Period: Regular APR can be high after the introductory period ends.
• Potential Fees: Balance transfer fees may apply.

FAQs

1. What is the best credit card for earning travel rewards?

Answer: The best credit card for earning travel rewards depends on your travel habits. Some top options include the Chase Sapphire Preferred and the American Express Platinum Card.

2. How do 0% APR credit cards work?

Answer: 0% APR credit cards offer an introductory period during which you won’t be charged interest on purchases or balance transfers. After the period ends, the regular APR applies.

3. Are business credit cards only for large businesses?

Answer: No, business credit cards are available for small business owners and entrepreneurs. They help manage business expenses and offer rewards on business-related purchases.

4. Can students apply for credit cards without a credit history?

Answer: Yes, many student credit cards are designed for those with limited or no credit history. They offer a way to build credit while earning rewards.

5. What are the benefits of cash back credit cards?

Answer: Cash back credit cards offer a percentage of your spending back as cash rewards. They are ideal for everyday spending and often come with no annual fee.

For more detailed information and to compare the best 0% APR credit cards, visit U.S. News Credit Cards.

By understanding the various types of credit cards and their benefits, you can make an informed decision that best suits your financial goals and lifestyle. Whether you’re looking for travel rewards, cash back, or a 0% APR period, there’s a card out there that’s perfect for you. Apply today and start enjoying the benefits!