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Review: Top Cards Offering Long 0% Introductory Interest Terms

Credit card issuers are in such fierce competition these days to attract new customers that most have started offering sweetheart deals to win you over, like ultra-long 0% introductory interest periods. While these types of offers can be great (switching from paying something like 15% interest to 0% is obviously a smart move), so many cards are offering so many varying offers that sifting through them to find the better ones can become a little confusing. 

Like most things, there's no single answer for everyone, yet in our research, we found that four cards in particular each offered appealing features that beat out other similar cards. One offers a solid 15-month 0% term, yet charges no balance transfer fee. Two more offer nice 0% intro terms together with attractive cash back rewards programs.


The Cards Which Not Only Don't Charge, But Actually PAY you.

Pros: Chase's new Freedom Unlimited card is essentially an improved version of the old Freedom. They bumped the base cash back rate all the way up to an industry leading 1.5%, and pay that full 1.5% on all spend, with no limit or spend category restrictions. Unlike most other high paying cash back cards, you don't have to worry about categories or have to activate anything. You'll receive the full 1.5% back as you make your spend, on all spend, automatically. In addition, Chase  is temporarily offering a cash bonus to new card-members. If you charge $500 on it in the first 3 months, you'll earn a $150 cash bonus. Finally, Chase is also offering new card-members 15 months of 0% Intro APR on Purchases interest for the first 15 months of using the card to make new purchases. So during that period, you can use the card without paying any interest on balances you tally, while still earning cash back. The card requires good, not excellent credit, making it easier to get in.

Cons: Charges a 5% balance transfer fee. This is on the high side, so we recommend looking at the BankAmericard if your goal is to transfer a balance. The Freedom Unlimited should be viewed as a cash back card.

The Verdict: One of the strongest cards available to those with good (but not perfect) credit. The card combines industry leading cash back rates (1.5% on everything) with a strong 15 months of 0% Intro APR on Purchases interest on new purchases combined with a $150 cash bonus when you use the card to make $500 in spend in the first 3 months.

Most Appropriate For: Those with good credit seeking a daily-use card offering great cash back rewards and 0% Intro APR on Purchases intro APR. Best for new charges.

Least Appropriate For: Balance transfers, as it charges the 5% fee.

Credit Required: Good to Excellent

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Pros: Capital One's Quicksilver card makes things simple: you earn 1.5% cash back on all your purchases, with no limit and no category restrictions or games. We included the card in our balance transfer list because it offers 0% intro APR 9 months  on all balances transferred.

Cons: Does charge a 3% balance transfer fee. Requires good credit to get in.

The Verdict: If you're looking to transfer a balance and make some purchases, you can use this card to avoid paying interest during the intro period AND earn cash rewards.

Most Appropriate For: Anyone who might make some large purchases in the near future, or regularly charges a lot on their cards. Making the charges on the Quicksilver  would earn cash back but not require any interest during the intro period.

Credit Required: Good to Excellent

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Summary

With so many issuers competing to offer such great introductory incentives, it seems smart to make use of them in the right way! We hope our reviews of these cards was helpful, and if you have any comments, please don't hesitate to let us at the LendingTree Credit Card Review Team know!



*Savings calculation: Credit Card Balance * (1+Average Card Rate/365)^639 days – Balance Transfer Fee - Average Household Credit Card Balance
 
                                                                                                                                           
Card Name Purchase APR Annual Fee Balance Transfer APR Credit Needed Features Our Rating & Bottom Line  
Chase Freedom UnlimitedSM
 0% Intro APR on Purchases for the first 15 months, then 15.99% - 24.74% Variable$00% Intro APR on Balance Transfers for 15 months
            fee of either $5 or 5% of the amount of each transfer, whichever is greater
Good/Excellent$150 bonus after spending $500 in first 3 months; 1.5% cash back on all purchases with no limits or category restrictionsOur Rating:
4 out of 5
Excellent combination of cash back rewards and 0% intro APR; $150 bonus opportunity
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Capital One® Quicksilver® Cash Rewards Card
0% intro APR 9 months, then 13.74% - 23.74% (variable) $0 0% intro 9 months, then 13.74% - 23.74% (variable)
fee of 3% of the amount of each transfer
Good/Excellent 1.5% cash back on all purchases with no limits or category restrictions Our Rating:
4 out of 5
This is a great card for making purchases. Simple cash rewards program comes out among tops in industry
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