When you qualify for a low credit card interest rate, you qualify to reduce the overall cost of your debt over a longer period. When you borrow money or use credit, you usually have to pay a premium on that borrowed money in the form of interest.
This is a card with a 0% introductory rate, but the great part about the introductory rate is that it lasts for a year and a half. A full 18 months of zero interest can be a goldmine if you have some debt to catch up on. Once the intro period is over the interest rate will revert to the rate stated in the terms, generally a 14%-27% variable APR. To qualify for this card the applicant will need excellent credit and a FICO of between 720 and 850.
Discover has reinvented itself in recent years as a very competitive card company, and this card is another reason why. The $0 annual fee and 0% APR intro period for a robust 14 months make this an attractive card that you do not need to have nearly-perfect credit to qualify for. They will accept applicants with a credit score as low as 690 with improving terms for scores up to 850.
The Chase Freedom Unlimited card is another great card with a 0% APR for 15 months on purchases. It also has an entry point for consumers with credit scores from 850 down to just 690, so if you have faced some credit challenges this card might be a great match to get caught up.
In the first 3 months, spending $500 on purchases earns a $200 bonus, a legitimately nice return. The customer also earns 5% on travel purchases, 3% at restaurants, other dining, and drugstores. There is no minimum to redeem the cashback, like on some other cards.
For a card with a great 0% APR intro period, and nice cash back benefits beyond that, the Blue Cash Everyday card is an enticing option. The intro period is a leisurely 15 months, and the APR after that can range from 13.99% up to 23.99%.
If you spend $1,000 in the first 3 months, you get $200 back. Additionally, you 3% back at grocery stores, up to $6,000 in a year, 2% back from gas stations and select department stores, and 1% back on other purchases.
If you are one of the few who can qualify for the U.S. Bank Visa Platinum card, you should certainly consider having one. They provide a 0% intro APR for a massive 20 months, and a variable APR of between 14.49% and 24.49% after that. You’ll need a credit score of 720-850 to get in the door. Additionally, paying with the card provides up to $600 to protect against cellphone damage and theft.