What are the Best Zero Interest Credit Cards?

Zero interest credit cards have become increasingly popular among consumers who want to avoid paying high interest fees on their credit card balances. These cards offer a period of time during which no interest is charged on purchases orbalance transfers, giving cardholders a chance to pay down their debt without incurring additional fees. In this article, we'll explore what thebest zero interest credit cardsare and what you need to know before applying for one.

What are Zero Interest Credit Cards?

Zero interest credit cards are credit cards that offer an introductory period of time during which no interest is charged on purchases or balance transfers. This period can range anywhere from six to 24 months, depending on the card issuer. After the introductory period ends, the card will begin charging interest on any remaining balance.

Zero interest credit cards can be a great option for consumers who are looking topay down debtor make a large purchase without incurring high interest fees. However, it's important to note that some zero interest credit cards may charge a balance transfer fee, which can offset the savings from thezero interest period.

What are the Best Zero Interest Credit Cards?

1. Citi Diamond Preferred Card: The Citi Diamond Preferred Card offers a 0% APR on purchases and balance transfers for 18 months. There is no annual fee for this card, and it also offers perks like Citi Entertainment and access to presale tickets.

2. Chase Freedom Unlimited: The Chase Freedom Unlimited offers a 0% APR on purchases and balance transfers for 15 months. There is no annual fee for this card, and it also offers cash back rewards on purchases.

3. Discover it Cash Back: The Discover it Cash Back offers a 0% APR on purchases and balance transfers for 14 months. It also offers cash back rewards on purchases, with bonus categories that rotate quarterly.

What You Need to Know Before Applying for a Zero Interest Credit Card

Before applying for a zero interest credit card, there are a few things you should keep in mind. First, make sure you understand the terms and conditions of the card, including the length of the zero interest period and any fees associated with the card. It's also important to make a plan for paying off your debt during the zero interest period, to avoid accruing additional interest charges once the period ends.

Additionally, be aware that applying for a new credit card can affect your credit score, especially if you have a lot of credit inquiries on your report. Make sure you're only applying for cards that you're likely to be approved for, to minimize the impact on your credit score.

Investment Strategies for Paying Down Debt

If you're carrying a significant amount ofcredit card debt, it's important to have a plan for paying it down. One strategy is to focus on paying off your highest interest debt first, to minimize the amount of interest you're paying over time. You can also consider consolidating your debt with a balance transfer to a zero interest credit card, as long as you're able to pay it off during the zero interest period.

Another strategy is to make extra payments on your credit card debt whenever possible, even if it's just a small amount. This can help you chip away at your debt over time and reduce the amount of interest you're paying. Finally, consider working with a financial advisor or credit counselor to develop a comprehensive plan for paying down your debt and improving your overall financial situation.