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0% APR Cards

People often ask me about 0% APR cards.

There’s a reason I don’t talk about them often.  Credit card interest is why the house always wins.  0% is just a teaser to get you to fall into a very dangerous trap.  People that treat a credit card as anything different than cash are only fooling themselves.  If you don’t have cash on hand to pay for an item, then don’t buy it.  It’s a really bad idea to use your plastic as a way of getting an item you can’t afford.

Banks would love nothing more than to charge you 20 or 30% interest on your purchases and those charges will easily overwhelm the benefits of signing up and spending on a card.  If you can’t control yourself to spend within your limits than you’ll be far better off not even applying for a credit card.

But if you already do owe money that you can’t pay back right away, a 0% card can be a good thing in the short-term.

Here are some of the best ones out there:

1. The Chase Ink Cash Business card offers 0% interest on purchases and balance transfers for 12 months.
If you have to carry a balance then this is a fantastic card to do it on as the credit utilization isn’t reported to the credit bureaus on Chase business cards. While on other cards carrying a balance can have a negative effect on your score while the balance is there you won’t have that issue with this card. However there is a 3% fee for transferring a balance to this card.
There is no annual fee for this card.

The great thing about this card are the rewards. Besides for the signup bonus you also earn 5 points per dollar on telecom, cable, and office supply store (including gift card) purchases and 2 points per dollar on dining and gas. Plus cash back
Additional cardholders are free and each one of them gets 2 free airport lounge visits per year.

The difference between this card and Chase Ink Plus (besides the signup bonus and spend threshold requirement) is that you or your spouse must have an Ink Plus or Sapphire Preferred card to transfer the rewards points into miles.
Additionally the Plus/Bold cards don’t have a foreign transaction fee while this card does. And the Plus/Bold cards have a cap of $50,000 in annual spending that can earn 5 points per dollar (for 250,000 points) while this has a $25,000 cap (for 125,000 points)

You can read more about business card benefits in this post.

2. The Chase Slate Visa offers 0% interest on purchases and balance transfers for 15 months.
The awesome thing about this offer is that if you transfer a balance to this card within 60 days of opening it there will no fees at all!  Almost every other card out there will charge a balance transfer fee.

There is no annual fee for this card.
The reason this card doesn’t earn the number one spot is that it doesn’t have a signup bonus and doesn’t earn any points.

Ink Cash or Slate? If you care about keeping your credit score higher you will be better off with Ink Cash which also has a signup bonus and earns points on purchases.  If you care more about saving the 3% fee and less about your score and the points then you’ll be better with Slate.

3. The Chase Freedom Visa offers 0% interest on purchases and balance transfers for 15 months.
There is a 3% fee for transferring a balance to this card.
There is no annual fee for this card.
The great thing about this card are the rewards. Besides for the signup bonus you also earn 5 points per dollar in quarterly rotating categories. Plus if you have a Chase checking account you’ll also get an annual 10% bonus on top of all point earnings.
Like with the Ink Cash card, you or your spouse must have an Ink Plus or Sapphire Preferred card to transfer the rewards points into miles.

4. The Barclays USAirways World Mastercard offers 0% interest on balance transfers only for 15 months.
There is an $89 annual fee for the card. This card will be discontinued soon, but for now you can still get 40,000 USAirways miles, which will soon be convertible into American miles.
There is a 3% fee for transferring a balance to this card.

5. The no annual fee version of the Barclaycard Arrival World Mastercard offers 0% interest on on purchases and balance transfers for 12 months.
There is no annual fee for this card.
There is a 3% fee for transferring a balance to this card.
You earn 2 points per dollar on travel and dining and 1 point elsewhere. You also get a 10% points rebate every time you cash out your points.

6. The Discover It card offers 0% interest on purchases for 6 months and 0% interest on balance transfers for 18 months.
There is no annual fee for this card.
There is a 3% fee for transferring a balance to this card.
This card offers 5% cash back in rotating categories.

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28 Responses to “0% APR Cards”

  1. rachel Says:
    1

    Was declined for ink cash. ( too many new chase cards in too short time)
    Could you recommend a different 0 APR business card please?
    Have used your cc links successfully 10 times this year 🙂

    ReplyReply
  2. jack Says:
    2

    The fee-free barclays arrival also has… http://www.dansdeals.com/go/BarclayArrivalNoFee/

    ReplyReply
  3. Dan Says:
    3

    @rachel:
    Did you try offering to close another card to get it approved?

    @jack:
    Indeed, I had looked at the regular version of the card, but that one got rid of the 0% offer already,

    ReplyReply
  4. Sam Says:
    4

    Transfers are counted as spending?? To make it a little clearer if I transfer $3000 will I get the bonus sign up miles??

    ReplyReply
  5. Nachman Says:
    5

    Could I transfer my credit limit from all my chase personal cards to slate? And get a lump sum loan free for a year?

    ReplyReply
  6. Dan Says:
    6

    @Sam:
    No.

    @Nachman:
    Generally speaking balances can only be transferred from cards held by a different bank.

    ReplyReply
  7. Anonymous Says:
    7

    @dan

    you bet I hucad a few times saying I don’t need more credit just shift credit from other cards.
    I went to your seminars and really learned a lot
    was approved for 6 ink and my husband 3 ink this year only
    But this time huca didn’t work. 🙁

    ReplyReply
  8. No credit man Says:
    8

    Hey Dan can you write about or did you ever write about… Getting a credit card with zero credit score??

    ReplyReply
  9. Dan Says:
    9

    @Anonymous:
    Happy to hear the seminars were good for you, sometimes I wonder if they’re worth the effort.
    Seems like you’ve done well enough this year…time to take a little breather.

    @No credit man:
    I talk about that in seminars, but somewhat on topic:
    http://www.dansdeals.com/archives/41582
    http://www.dansdeals.com/archives/23410

    ReplyReply
  10. Questions Says:
    10

    Dan,

    It is my understanding that if you use the balance transfer option, if you then spend money on the card you will incur finance charges. For example, if you use the Ink card for a balance transfer, and then spend the $5,000 to get the points, you will be billed finance charges for that. Is this correct?

    Also, a 0% APR credit card can come in handy when you have a large expense to pay, but don’t have the cash available at the moment. For example, when you buy a home, it can be used as part of the downpayment or to pay for immediate expenses such as furniture and home improvement. It can also be a lifesaver when you have to make a Simcha or need to pay tuition. Obviously, we are talking about paying it in full before the 12-15 month term is over.

    ReplyReply
  11. MaaYanky Says:
    11

    Another way to transfer the balance to the new card would be to use manufactured spending on the new card, pay off the old cards and have more time to pay off the new card.
    As Dan said, this isn’t the way to go but if you’re already in debt this could help you get out without being bombarded by interest charges to make it harder!

    ReplyReply
  12. Anonymous Says:
    12

    @Dan: Slate does not send balance transfer checks? and if I have someone who carries large large balances, could it be done? do they allow credit limit transfers to the slate?

    ReplyReply
  13. Ed Says:
    13

    Hi Dan, searched all around the DDF and cant find an answer: all the Chase Ink talk has been about Staples Visa prepaid 200 cards and evolve, I was in a store today with plenty $200 mastercards available. Is there any reason the mastercards wouldn’t be as good of an option as the Visas?

    Thanks!

    ReplyReply
  14. ssandra128 Says:
    14

    @Dan

    Hello. I have a question to your reply of Nachman. I want to transfer from my Chase Sapphire Preferred to the Slate. Are you saying this can’t be done?

    ReplyReply
  15. Mark Says:
    15

    If anyone is going to use 0% APR please don’t even think of a balance transfer. It’s very very easy to go to places like 7-11, Walgreens and Rite Aid and buy Paypal Cash cards. Essentially you charge the cash card to the credit card and use the cash from the paypal card to pay off the old card all while generating points and hitting spending bonuses. Don’t even pay a 3% transfer fee.

    FYI, you can also use a credit card to buy a car from a dealership which I’ve done to avoid taking out a car loan.

    ReplyReply
  16. Yeki89 Says:
    16

    Currently the Chase freedom offers a 20,000 signup bonus, in addition to it’s 0% for 15 months

    ReplyReply
  17. Huh? Says:
    17

    @Mark:

    Mark, are you for real? If you need cash for 30 days, your (obvious) suggestion may work, but what if you need the cash for 12 months?

    Do you think people doing balance transfers are doing it for 30 days?

    ReplyReply
  18. David R Says:
    18

    @Huh?: Mark is on the mark. If the card has 0% APR on purchases for 12 months or more, that would do the trick. Only minimum payments will need to be made each month.

    ReplyReply
  19. jake Says:
    19

    hey dan i wanna open chase ink but by the bussniess options it doesnt say “Sole Proprietorship” what do i write? and do i write Sole Proprietorship after my name in the business name line? thanks

    ReplyReply
  20. Edw Says:
    20

    Rachel: how many chase card within how many months… I have chase amazon & free that I got more 7-10 months ago thats why i’m hesitant to give the chas ink cash a try…

    Thanks

    ReplyReply
  21. Mark Says:
    21

    @Huh I used this to successfully to transfer $5,000 left over on a 12 month 0% apr to an 18 month 0% apr with citi all while generating points and hitting a 2k threshold for 20,000 thank you points. What you’re obviously misunderstanding is that you should buy the gift cards with the 0% apr and paypal gives you cash so you can avoid bluebird and evolve (I’ve never had much luck finding vanillas).

    The only real risk is to never ever miss a credit card payment. But I guess the same could be said for any loan payment.

    ReplyReply
  22. D Says:
    22

    Freedom is temporarily bumped to $200 sign on bonus.

    ReplyReply
  23. jake Says:
    23

    hey dan i wanna open chase ink but by the bussniess options it doesnt say “Sole Proprietorship” what do i write? and do i write Sole Proprietorship after my name in the business name line? thanks

    do i write “other” or “retail”

    ReplyReply
  24. Dave Says:
    24

    Any Citi cards?

    ReplyReply
  25. Izzy Says:
    25

    Hi Dan,

    Do u know the phone # for the Chase Slate card? I applied for one Sat nite but now realize I may not get approval or get my balance transfer paid by June 10, when my cred card bill is due from another bank. If that is the case I want to cancel my application and save it for another time. I don’t want Chase to pay my bill late or AFTER I have already paid it.

    Thx
    443-683-7918

    ReplyReply
  26. Ben Says:
    26

    Dan, excuse my amaratzus here but since i already have a slate chase visa from many years ago, would they let me open another one (in the interest in avoiding any balance transfer fee)?
    Thanks

    ReplyReply
  27. Daniel Says:
    27

    I have a problem with chase in general and need an alternative option for business card with 0% balance tranfers.

    ANy ideas

    ReplyReply
  28. New card Says:
    28

    Theres a new card called Citi Double Cash, heard of it? I got on offer for 18 months 0% APR with 1% cash back when you buy and another 1% cash back when you pay it

    ReplyReply

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