Best 0% APR Credit Cards Of September 2024 – Forbes Advisor – Technologist

A 0% introductory APR offer means cardholders don’t pay interest on eligible transactions for a specified period of time. Any remaining balance at the end of the promotional period will accrue interest at the regular APR.

Introductory APR offers may apply to purchases, transferred balances or both. Many cards offer periods greater than one year, with some cards extending 0% introductory APRs beyond 18 months. Balance transfer fees often apply to 0% introductory APR-eligible balance transfer transactions, although they may be reduced during the introductory period. Minimum payments are still required during any 0% introductory APR period.

How Does 0% APR Work?

Introductory 0% APR offers allow new cardholders to finance purchases or balance transfers—sometimes both, depending upon the offer and card agreement terms—without paying interest for a predetermined period of time. After this time, the regular, ongoing interest rate applies to any outstanding balances.

The table below demonstrates the difference in cost for using a credit card to borrow $1,000 for 15 months. Assuming the cardholder makes equal monthly payments each month, the cost of carrying the balance is evident. You can calculate your own interest rates using our credit card payoff calculator.

Note that 0% introductory APRs are different from deferred interest financing, which may simply postpone when you need to pay interest on your charges. Deferred interest financing is often referred to as special financing. Carefully read any card agreement before applying for a card.