0 Interest credit cards allow you to purchase items or services on credit without having to pay costly interest. Some banks also offer 0 interest credit cards on balance transfers which some banks don't. Which is why it is important to recognize the purpose for which you plan to use your credit card so that you can apply for the one that suits your needs best.
For those of you who plan to use their cards on both purchases and transfers, Capital One Platinum Credit Card offers 0 interests on both. The duration of their 0 interest offer lasts for 12 months for both purchases and transfers. After the 0 interest offer expires, the regular interest rate is at 14.9%. This interest rate can be a little steep on the pocket but at least you won't have to pay annual fees. Another disadvantage though is that they do not offer rewards with this card.
The Chase Freedom MasterCard also offers 0 interest credit card for both purchases and transfers. However, the 0 interest rate on purchases only lasts 6 months. After which, you will need to pay a regular interest rate of 12.99% -22.99% depending on the economic trends. However, they do have an advantage over the Capital One Platinum Card because they offer Cash Back rewards to their clients.
The Citi Platinum Select MasterCard also offers 0 interest credit cards on both purchases and transfers and this offer lasts from 7-18 months. Although the promo duration may be a little less than what others offer, they do have a relatively lower regular interest rate at around 11.99% -19.99%. An additional bonus is that they also offer Cash back rewards.
Another credit card offers even more rewards than the rest. The Citi Diamond Preferred Rewards Card is also a 0 interest credit card whose 0 interest offer lasts 7-15 months. What's great about this card is that you can collect points every time you use it. They also give you 6,000 points as an initial bonus which will keep you motivated to keep on earning those points. When the 0 interest offer expires, the regular rate you will have to pay is 12.99% -20.99%. This is 1% more than the regular interest rate of their Citi Platinum Select MasterCard.
Besides points, there are also other credit cards that offer miles as rewards. The Miles by Discover Card offers 0 interests on purchases and transfers up to 6 months only. However, despite the shorter duration of their promo, you can take advantage of their rewards system that offers you mileage. They also give an initial 12,000 miles as a bonus when you apply for one. This card is also great since you don't have to pay annual fees and the regular rate is pretty affordable at 11.99% -19.99%.
Another card also offers miles. The Escape by Discover Card offers 0 interest for 6 months after which you have to pay the regular rate of 11.99% -18.99%. The maximum rate for this card is 1% lower than the Miles by Discover Card plus it offers an initial bonus of 25,000 miles, this is 13,000 miles more than the Miles by Discover Card. This makes you think it's a better deal but this card comes with annual fees of 60 dollars.