Choose a country
United States
Select a city
Select a city
Select language
English
Select country
Choose a country
United States
Canada
España
México
Philippines
United States
Việt nam
Казахстан

0% APR credit cards for december 2022 in the United States

Apply for a 0% APR credit card. On 03.12.2022 you have access to 3 credit cards. Increase your chances of getting money — fill out a multi-application with a free credit rating check.

Offers: 3

Updated:
01.12.2022
17:51
Upgrade
Upgrade Triple Cash Rewards Visa® card
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500 to $25,000**
Rate
i

Effective interest rate on the product

8.99%-29.99%
Submit your credit card application online
Submit your credit card application online

Take advantage of our credit card selection system with a free credit check!

 

Upgrade
Upgrade Cash Rewards Visa®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

$0.00
Upgrade
Upgrade Bitcoin Rewards Visa®
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Rate
i

Effective interest rate on the product

8.99%-29.99%

Other credit cards offers

Arrowhead Advance
3.2
Olivia H
Olivia H
01.12.2022 at 06:07
My experience with getting a personal loan from this company was quite pleasant. The service was fast, no one asked about any collateral or my creditworthiness. Such things are always annoying...
Review
Spotloan
4.4
Noah J
Noah J
30.11.2022 at 20:45
Before taking out a loan, I compared Spotloan with other lenders and found out that their rates are the most acceptable. The mobile application works flawlessly. I quickly received approval...
Review
Spotloan
4.4
Isabella H
Isabella H
30.11.2022 at 20:40
At first, I liked everything in this company. I needed a payday loan and they offered a good alternative. Almost no documents are needed, it's true...
Review
Spotloan
3.8
Camila J
Camila J
30.11.2022 at 20:40
Spotloan is like a good old friend to me. I always try to make payments on time, so I usually have no problems with creditors. This company has simplified all possible procedures for obtaining a loan...
Review
Spotloan
3.6
Emma S
Emma S
30.11.2022 at 20:40
A very convenient application of the company. You can borrow small amounts starting from $3,000. In addition, the company operates in most states...
Review
Spotloan
4.6
Mateo J
Mateo J
30.11.2022 at 20:35
If you've never seen a company that can give you a maximum of $800, then this is just about it. But they respond to the application very quickly, they also quickly approve and transfer money to you...
Review
0% APR credit cards for december 2022

What are 0% APR credit cards?

0% intro APR credit card is a credit card with an initial period of a certain duration during which the cardholder does not pay interest on the amounts they withdraw from the credit limit. After the completion of the introductory APR period, the cardholder must pay interest for the amounts they use. At the same time, if the borrower still repays their balance monthly, the APR is applied only to the balance unpaid after the grace period of the billing cycle. Most of these credit cards have a changing ongoing APR. This variable APR depends on changes in the market and can both rise and fall. A zero percent rate in such cards applies to purchases and balance transfers.

Interest rates vs. APRs

The annual percentage rate (APR) differs from the interest rate in that APR includes both interest rates and additional fees. In other words, APR is a complex indicator that includes all the borrower's costs in addition to paying the principal amount.

Based on this, it is possible to say that APR is a more suitable indicator for comparing lenders and credit cards. If borrowers compare loan offers based on the interest rate, they may run into high origination fees, late fees, transaction fees, and prepayment penalties.

Interest rates are often set not by the lenders themselves but by the market. Changes in the market force lenders to raise and lower interest rates for their credit products. APR largely depends on the lender itself since the lender at will sets all additional fees.

The APR value is always higher than the interest rate value, but the borrower should not assume that the lower the interest rate, the lower the loan cost. A lower interest rate may imply smaller repayments, while the cost of the loan may still be high.

0% APR credit card has 0% APR in a certain period and a 0% interest rate.

How credit score affects interest rates

Interest rate and hence APR strongly depends on the borrower's credit history. A borrower with a low credit score is riskier for the lender. Moreover, the lower the credit score, the higher the risk that the borrower will have problems with payments. To mitigate the risk, lenders set a high APR for such borrowers.

At the same time, a borrower with a high credit score poses less risk to the lender since a high credit score reflects that the borrower always makes payments on time and has successfully closed one or more loans in the past. For lenders who issue credit cards, a good loan means that the borrower does not spend the entire credit limit and correctly manages the borrowed money.

The interest rate is usually calculated as the prime rate, which is the minimum and is set by the market plus percentage points, the number of which is determined depending on the borrower's credit score.

  • A borrower with good or excellent credit, which means a FICO credit score above 690, can count on an interest rate of prime plus less than 12 percentage points.

  • A borrower with average credit or FICO credit score from 630 to 690 can count on a prime rate plus 15 to 20 points.

  • A borrower with a bad credit or credit score of less than 630 will have, in addition to the prime rate, also more than 20 percentage points and, accordingly, a higher interest rate compared to borrowers from previous ranges.

How to compare 0% and low-interest credit cards

One of the most important aspects that a borrower should pay attention to when choosing a 0% APR credit card or a low-interest card is the duration of the introductory APR period. Usually, reward cards offer an intro APR period of 15 months. Such cards are great for those borrowers who want to make a big purchase and pay for it later. The longer the 0% interest period, the better, but the borrower should consider several important factors. If the borrower is late with payments, the lender can cancel the grace period and require the borrower to pay interest in full. For some balance transfer cards, the APR may be longer than the APR for purchases or vice versa. Cards with a grace period of more than 18 months mostly do not offer bonus rewards.

The оngoing APR is also important to consider since it is this APR that will be credited to the borrower after the intro APR period ends. When choosing a suitable credit card, the borrower needs to consider offers with the lowest ongoing APR.

Some borrowers make a balance transfer. Such borrowers should pay attention to the size of the balance transfer fee. Usually, lenders require from 3% to 5% of the amount that the borrower transfers. Some financial institutions offer cards without a balance transfer fee.

Late fees and penalty APR are also recommended to find out when choosing a suitable low-interest credit card. Lenders usually have a late fee of about $40. However, with systematic delays in payments, the borrower may lose 0% of the interest period and receive a penalty APR, which can increase the initial interest rate up to 30%.

The borrower should look for a credit card that does not require payment of an annual fee.

Many credit cards, such as low-interest cards and flat-rate cash-back cards, offer various bonus rewards and cash back for purchases in different categories. These rewards and cash back can make using a credit card much more profitable.

How to get a 0% APR credit card

Choosing a lender

Choosing the right lender is as important as choosing the right credit card. To compare loan offers from various lenders, the borrower can find special comparative articles with tables that highlight all the important key facts. By going to such an article, the borrower will be able to quickly compare such important aspects as the duration of the introductory interest rate period, ongoing APR, balance transfer fee, and the availability of rewards and cash back.

Another way to compare different loan offers is to get pre-qualification from as many lenders as possible. If you have all the necessary information and documentation, filling out an online application takes 10 to 15 minutes. Having received several pre-qualifications, the borrower will be able to study loan agreements and compare credit conditions. This method is more effective because, in the case of obtaining pre-qualification, the borrower can find out the individual conditions offered by the lender based on their credit history.

When choosing a lender, it is important to study user and customer reviews. For example, a borrower can use such an authoritative source as the Better Business Bureau (BBB) and get acquainted with the reviews.

Recommendations on the eligibility

The first criteria for consideration are the age at which they must be at least 18 years old and have US citizenship or permanent residence in the USA. To confirm the identity of the borrower, the lender may ask them to upload a driver's license, passport, or state-issued ID.

Different lenders have different credit inquiries for potential borrowers. The borrower must have good or excellent credit to receive a 0% APR credit card. On average, a borrower needs to have a 670 FICO credit score or higher. Such high requirements are because such credit cards are very profitable because, during the 15 to 18 months of the intro APR period, the cardholder can make purchases completely free of charge without using their own money. Also, the borrower must not have been bankrupt in the last 7 years. The lender also considers the availability of other active loans and the borrower's credit utilization ratio.

The debt-to-income ratio should also be low. The borrower must have a stable source of income that can be documented. To confirm the borrower's income level, the lender may ask them to upload additional documents such as bank statements, W-2s, tax returns, or pay stubs.

The application process

To apply for a 0% APR credit card, the borrower needs to go to the lender's website and click on the "Apply Now" or "Get Started" button. First of all, a potential borrower needs to enter personal information such as name, SSN or ITIN, date of birth, and country of citizenship. Next, they need to fill in contact information, namely phone number, email, home address, city, and zip code. On the next page of the application form, the future credit card holder needs to enter financial information. The borrower needs to choose housing status, that is, they rent or own housing or have a mortgage. In the case of rent and mortgage, they need to deposit the monthly amount they pay. Next, the borrower needs to select employment status and enter the employer's name, phone number, and the amount of annual income. The application is completed in 15 minutes, and the response from the lender comes within a couple of hours.

How not to pay credit card interest

In addition to the fact that the 0% APR credit card offers the borrower a grace period during which they must pay interest on purchases by their credit limit, there are several ways not to pay interest at all.

A borrower who pays their credit balance on time every month does not have accrued interest on interest for purchases made. However, if the borrower misses minimum payments systematically, they are constantly charged interest and late payment penalties. For successful non-payment of interest, the cardholder should use a small part of the credit limit so that by the end of the grace period, they can pay the balance in full.

The borrower can also request a different date for the start of another billing cycle and thereby extend the grace period and not pay any interest.

FAQ

Is 0% APR good for your credit?

Credit scoring models do not consider the APR and interest rate values when calculating the credit score, so 0% APR credit cards alone do not affect the cardholder's credit. However, 0% interest usually encourages people to use a large amount of the credit limit. Using a large part of the credit limit raises the borrower's credit utilization ratio, which should not be higher than 20% in order not to damage credit.

What cards are offering 0% interest?

Among the actual examples of 0% interest credit cards, it is possible to single out Wells Fargo Reflect Card, which has an 18-month intro APR period, and the Capital One SavorOne Cash Rewards credit card, which has one of the highest percentages of cash back, Discover it Cash Back credit card, which has a favorable APR relative to most other options Chase Freedom Unlimited, which has 0% balance transfers APR for 15 months and BankAmericard card which offers 21 billing cycle with 0% APR.

Are there cards with no APR?

A credit card can have 0% APR only for a certain period. Interest is the profit of the lender that issues credit cards, so a credit card cannot have 0% interest for a period longer than 15 to 18 months. However, if the borrower replenishes the balance on time every month, they are not charged interest for purchases. If the borrower uses the credit limit rationally and pays the loan on time, they can use a credit card without paying interest.

What does 0% APR for 24 months mean?

0% APR for 24 months means that the cardholder does not have to pay interest for any purchases made using a credit card within 24 months. 0% APR can apply to purchases, balance transfers, or both. However, to maintain this intro APR period, the borrower needs to pay at least the minimum payment every month without delay since constant delays in payments can lead to the cancellation of 0% of the APR period ahead of schedule.

What happens when my 0 APR ends?

After the intro APR period ends, the borrower begins to be charged interest for credit card debt. This also applies to purchases and balance transfers that were made during the 0% interest period, so the cardholder should pay the debts promptly. Ongoing APR will continue to accrue to any balance on the balance sheet that has not been paid on time.