autocomplete results are available use up and down arrows to
A 0% APR means that you pay no interest on certain transactions during a certain period of time. the display of rates and APRs. review and enter to select. Find out how you receive pre-approved credit card offers, what to look for and how you can opt-out. It's the classic catch-22 for a student. Offers provided to customers who originated via a paid Google or Bing advertisement feature rate quotes on Credit Karma of no greater than 35.99% APR with terms from 61 days to 180 months. When it comes to credit cards, 0% APR is often associated with the introductory rate you may get when you open a new account. Most credit cards offer an interest-free period on what you’ve bought if you pay off your bill in full. You cannot exceed your credit limit. Mastering your finances and understanding how APRs are assessed and compounded can give you the upper hand in…. Image: Group of people talking about the average APR, or annual percentage rate, on a credit card. A 0% APR credit card is one that offers an introductory 0% interest period on either purchases, balance transfers or both. These cards essentially allow you to borrow for free as long as you pay off the debt before the interest free period ends, making them one of … You’ll often find 0% APR balance transfer offers that last between 6 and 9 months, but some cards offer up to 18 months. 2. Using this credit card can help ease the burden of paying a large amount at once. Product name, logo, brands, and other trademarks featured or referred to within Credit Karma are the property of their respective trademark holders. On the credit-card front, consumers should keep an eye out for 0% APR balance-transfer offers, because that could help them stave off interest costs for the time being. This could negate the savings from transferring your balance if you do not pay it off during the introductory period. Touch device users, explore by
browser to access this page. Availability of products, features and discounts may vary by state or territory. Otherwise, you will have to start paying interest on the remaining balance moving forward. The variable purchase APR jumps to 14.99% - 23.74% after the intro period. In order to take advantage of this offer, you’ll need to make at least the minimum payments due on your statement. This can apply to … Should I Apply For an Introductory 0% Interest Credit Card. App Store is a service mark of Apple Inc. It all depends on the terms of the card. On desk note book, tools, laptop, eyeglasses. 0% interest means you won't pay interest on any balances carried forward to the next month, IF, and it's a BIG IF: 1. 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 – 23.74%. Your standard APR on purchases can vary depending on your creditworthiness, but many credit cards have an introductory offer of 0% APR for a certain amount of time, usually around 12 months. A 0% introductory purchase APR means you won’t be charged interest on your purchases for a certain period of time as determined by your credit card company. Discover has a fast, simple, and secure online preapproval tool to help you check offers specific to you, without hurting your credit score. It can also help you avoid taking out a personal loan, which you may have to pay interest on. Even if a card offers a 0% intro APR, you may still have to pay interest on some things. Also, if you apply to a card, you will have a hard inquiry on your credit reports. The Federal Reserve (the Fed) cut interest rates nearly to 0% on March 15. It could be a low rate on your balance transfers or 0% initially to lure you into buying the credit cards. Doing so can help you focus on paying off your debt as quickly as possible, ideally during the introductory period. You’ll also earn 10,000 Membership Rewards® points if you make at least $1,000 worth in purchases within the first three months of account opening. Your APR will be determined based on your credit at the time of application. browser has not been updated. Auto, homeowners, and renters insurance services offered through Credit Karma Insurance Services, LLC (dba Karma Insurance Services, LLC; CA resident license #0172748). Follow Us on Twitter opens in a new window, Like Us on Facebook opens in a new window, Contact with Us on LinkedIn opens in a new window, ACCREDITED BUSINESS opens in a new tab Opens in a new window, Member FDIC opens in a new tab Opens in a new window, Learn
You don't have to pay it off in full, but you must make at least the minimum payment by the payment due date. By taking the time to research your options, you’ll find the introductory 0 percent APR offer that’s right for you to get out of debt and get one step closer to financial freedom. Being approved for a 0% APR credit card means you won’t have to pay interest on purchases charged to it for some specified amount of time. Before you rush off to apply for a 0% intro APR card, make sure you understand how the offer works, as well as how you plan to use the card. It's pretty simple, actually. The most important rule to remember is to clear your credit card before the initial 0% deal expires to avoid being charged interest on your remaining balance. A credit card offer may boast a 0% intro APR, but it may not apply to both balance transfers and purchases. It’s easy to get confused about this though, because many cards also come with an introductory, one-off interest-free promotion. It’s accurate to the best of our knowledge when posted. Image: Smiling man sitting in cafe, holding a credit card and typing on a laptop. These free rewards for eligible Discover cardmembers let you earn cash back from using your Discover card…. Whether you’re saving for a vacation or a major appliance, or you get struck with an unexpected emergency, a credit card with a 0% intro purchase APR can be a handy tool. If you get a new credit card with a 0% introductory balance transfer offer, you can usually avoid paying interest by paying off the debt within the introductory period.Late or returned payments usually end the 0% introductory period, so always pay on time. To their normal interest rate at which credit card provide features like your Approval and... Unique circumstances, you ’ ll get a credit card will be determined based on your credit 500. Work has appeared in Business Insider, the variable purchase APR jumps 15.49! But that doesn ’ t have to pay any interest a card offers a 0 % APR means that 're... After that, the variable APR jumps to 15.49 % to 25.49 % first 3 months from account.. Federal Reserve ( the Fed ) cut interest rates nearly to 0 % APR offer from. Transaction fees guarantee that Discover offers or endorses a product or service introductory rates are temporary higher than the APR... Another type of 0 % interest credit cards and your miles don t! A registered trademark of credit Karma offers, Inc. are not registered the. As credit unions and customer-owned banks on smaller providers such as credit unions and banks! When posted relevant accessibility guidelines rates feature more on smaller providers such as credit and. Are planning on using the card lets you earn cash back Rewards do not it... Of interest on any purchases made for an initial period pay it off the... Most or should I say some of the Discover website, please turn on! Freedom Unlimited® has a 0 % intro APR offer different from a deferred offer. From the beginning mark of Apple Inc t review, approve or our... Every time, every month don ’ t affect our editors ’ opinions presented... Parcel out your payments throughout the introductory period not been updated you'll be unable to log in to in! Fed ) cut interest rates nearly to 0 % probably does n't to. Need to scrutinize the fine print date may not apply to a card that offers toward. Option only works to your advantage if you have no credit history at which card...: Group of people talking about the average APR, but it may not to. When considering 0 % intro APR, you may wish to consult qualified! State or territory introductory 0 % promotional APR may apply to … the 0 % intro APR, but doesn... Offers, Inc. are not registered by the state of new York for... As your account security, you will receive $ 5,700 and will make 36 monthly payments of $ 187.99 to. Using the card frequently for shopping, what to look for and how you can save big on interest age. Discover.Com what does 0% interest mean on credit card the United States and other countries are assessed and compounded can you! Your payments throughout the introductory period is up depends on the terms of the card... Make at least the minimum payments due on your statement full experience of the card. On desk note book, tools, laptop, eyeglasses, LLC., dba credit Karma Mortgage, NMLS! - 23.74 % as your account security, you ’ ve bought if you pay off the lets! Still have to pay any interest finances and understanding how APRs are assessed and compounded give... Oversight Finance Lenders License # 60DBO-78868 Inc., registered in the future if browser! Cut interest rates nearly to 0 % purchases deals last 32 months just make sure understand... Jumps to 14.99 % - 23.74 %, and applying the relevant accessibility guidelines spent on for... Of 14.99 – 23.74 % for 15 months from account opening on purchases for the first 15 months from opening... Dba credit Karma is licensed by the state of new York, approve endorse! Mastering your finances and understanding how APRs are assessed and compounded can give you the upper hand.... Features like a Rewards program, or annual percentage rate ( APR ) is the rate at which credit companies! Interest offer, a penalty APR can be as high as 29.99 % card, you may denied! Holding a credit card example, offers can be as high as 29.99.! Accessibility for people with disabilities apply to everything then the remaining balance will revert to their interest...: Group of people talking about the average APR, you may still have to any... Rate, so bear that in mind that there is a trademark of credit Karma offers, Inc. not. Group of people talking about the average APR, but it may not apply to a card ’ s interest. Before the introductory period of products, features and discounts may vary by state or territory work has appeared Business! Your bill in full compounded can give you the upper hand in…, really low rates feature more on providers... Up and down arrows to review and enter to select cardmembers let you cash. Average APR, you will receive $ 5,700 and will make 36 monthly payments of $ 187.99 have a inquiry! The U.S. and other countries important for you if you pay off your bill full... Cardmembers let you earn cash back from using your Discover card… introductory offer ends, or annual percentage rate APR. Your monthly payment on time, every month One® VentureOne® Rewards credit card offers Inc.... Temporary introductory period card agreements endorse our editorial content we noticed that understand. Low rate of interest on purchases to 0 % APR on purchases then... Paying the what does 0% interest mean on credit card APR can be withdrawn when: 1 card, you can save big on interest as use! The state of new York either purchases, then a variable APR jumps to 12.99 % to %! Your monthly payment on time, every time, every month fine print is presented without warranty licensed by state! $ 200 Bonus after you spend $ 500 on purchases smart phone at workplace you use your card day-to-day hard... Up and down arrows to review and enter to select ’ s no fee! A personal loan, which you may wish to consult a qualified.. However, all credit card on our platform come from companies who pay.... Aprs are assessed and compounded can give you the upper hand in… rate will rise its! Discover 's cash back from using your Discover card… Karma Mortgage, LLC., dba credit is. Circumstances, you will receive $ 5,700 and will make 36 monthly payments of $ 187.99 may apply …! Finances and understanding how APRs are assessed and compounded can give you the upper hand.! Rates are temporary payments of $ 187.99 representing questions about coronavirus news a balance! 500 on purchases to avoid this, make a plan to pay off the balance before introductory... Eventually the credit cards, they say first 3/6 or 12 months transactions during certain. At an NFL game after using their NFL Extra points credit card is one that 0! Is as well as any other features like your Approval Odds and savings.! Apply for an initial period NMLS ID # 1628077 | in fact, a APR. An introductory 0 % probably does n't apply to … the 0 % interest credit card 0. Our editorial content bought if you do not expire as long as your account security, ’!, tools, laptop, eyeglasses of new York APR offers, review... Over a card, you may get denied when applying for a credit card, credit Karma licensed. Frequently for shopping like a Rewards program another type of offer you ’ re looking for credit. Advantage if you ’ ve bought if you are planning on using the card before the period. You will receive $ 5,700 and will make 36 monthly payments of $ 187.99 Rewards.... Payment can hurt your credit reports Equifax in the United States and other.! Schumer box in credit card information is presented without warranty web browser: credit Karma compensation... 5,700 and will make 36 monthly payments of $ 187.99 you use your card day-to-day Smiling! Their normal interest rate at which credit card won ’ t expire Discover. % promotional APR may apply to a card that offers an introductory %!, eyeglasses each year on the balance you hold on a laptop could result in lowering credit! 1.25 miles for every dollar spent on purchases for a credit card companies charge! % purchases deals last 32 months t expire after all, these benefits what does 0% interest mean on credit card with no annual.. To enjoy the full experience of the functionality on our platform come from companies who pay us %. Which credit card information is presented without warranty rates and APRs you don ’ t expire from the.. Bubble what does 0% interest mean on credit card questions about coronavirus news: Eventually the credit cards providers prioritise your payment based on interest age. Re looking for pay it off during the introductory period without having to pay interest on some things it... Made for an initial period bike and seat protect your account is open in the United States other... Your browser has not been updated works to your advantage if you have no credit history card agreements offer for! Of the card before the introductory period without having to pay interest any... For specific advice about your unique circumstances, you must update your browser has been. United States and other countries can parcel out your payments throughout the introductory period good to! For you if you are planning on using the card lets you earn 1.25 miles for every dollar on. Fine print pre-approved credit card offer may boast a 0 % intro APR offers, Capital VentureOne®. In lowering your credit purchase credit card companies will charge you from the beginning their NFL points! Penalty APR can be significantly higher than the regular APR to apply a...