How A 0% APR Card Can Help

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners.

You’re not alone if the rising costs of everything around you are forcing you to put more of your expenses on a credit card.

The latest consumer debt data from the Federal Reserve Bank of New York shows that consumers’ total credit card balances increased year over year – and they’re expected to continue going up.

Today’s rampant inflation is an obvious trigger, sending many Americans to resort to borrow more money just to keep up and make ends meet. But while a credit card can help you afford even the basic essentials by not requiring you to pay out of pocket upfront, you can still find yourself sinking fast in expensive debt. That’s because credit cards in general have notoriously high interest rates and most of them start charging interest the day you carry a balance into a new billing cycle.

The good news is there is one type of credit card that can give you more flexibility during these trying times – without tacking on high interest.

Subscribe to the Select Newsletter!

Our best selections in your inbox. Shopping recommendations that help upgrade your life, delivered weekly. Sign-up here.

Here’s how a 0% APR credit card can help during inflation

A 0% APR credit card offers an introductory period of several months with no interest on new purchases, which gives you ample time to pay off your expenses. For example, you can charge groceries, gas and clothing on your card and instead of paying all at once, you can spread out these payments over time.

Evident now more than ever before, this type of credit card can be a smart addition to just about anyone’s wallet if you’re feeling cash-strapped.

Consumers relying on their credit card right now should consider some of the best 0% intro APR credit cards on the market. The US Bank Visa® Platinum Card is a simple option that offers one of the longest zero-interest introductory periods on new purchases, at the first 20 billing cycles (after, 15.99% to 25.99% variable APR). The card also has no annual fee.

US Bank Visa® Platinum Card

On US Bank’s secure site

  • Rewards

  • Welcome bonus

  • Annual fee

  • Intro APR

    0% for the first 20 billing cycles on balance transfers and purchases

  • Regular APR

    15.99% – 25.99% (Variable)

  • Balance transfer fee

    Either 3% of the amount of each transfer or $ 5 minimum, whichever is greater

  • Foreign transaction fee

  • Credit needed

If you’re looking for a 0% APR card that can do more than just offer an interest-free period, the Blue Cash Everyday® Card from American Express comes with a rewards program, too. The interest-free introductory period is for the first 15 months on purchases from the date of account opening (after, 15.49% – 26.49% variable APR; see rates and fees).

Cardholders can get rewarded on that next high grocery bill or pricey gas stop with 3% cash back at US supermarkets (up to $ 6,000 per year in purchases, then 1%), 2% cash back at US gas stations and 1% cash back on all other purchases. Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, which can help lower your credit card bill.

Blue Cash Everyday® Card from American Express

On the American Express secure site

  • Rewards

    3% cash back at US supermarkets (up to $ 6,000 per year in purchases, then 1%), 3% cash back at US gas stations, (up to $ 6,000 per year, then 1%), New! 3% cash back on US online retail purchases, on up to $ 6,000 per year, then 1%. Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits.

  • Welcome bonus

    Earn a $ 200 statement credit after you spend $ 2,000 in purchases on your new card within the first 6 months.

  • Annual fee

  • Intro APR

    0% for 15 months on purchases and balance transfers, from the date of account opening

  • Regular APR

  • Balance transfer fee

    Either $ 5 or 3% of the amount of each transfer, whichever is greater.

  • Foreign transaction fee

  • Credit needed

For rates and fees of the Blue Cash Everyday® Card from American Express, click here.

Editorial Note: Opinions, analyzes, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

.

Leave a Comment

Your email address will not be published. Required fields are marked *