In this post we will review the best low interest credit card. We will also compare many No interest credit cards and will provide you with the best low interest credit cards.
The Credit cards can be simple and more convenient to take as compared to taking a bank loan. If you have a stable source of income and if you can manage your credit card spending wisely, so having a credit card is always a good idea.
If you have a debt that you wish to settle as quickly as possible, then there are various interest-free credit cards which can help you to get some quick cash to settle your debts. Also, as these credit cards are interest-free, you can also get enough time to repay your credit without incurring any interest.
There are various interest-free credit cards but the interest-free is not forever and it is a limited period introductory offer. For instance, some interest-free credit card 24 months of introductory period which means for the first 24 months of you signing up for the credit card, you do not have to pay any interest for balance transfers or credit card usage.
If you are looking for the best interest-free credit cards, then today we are here with a list of the best credit cards with some interest-free credit cards 24 months introductory period offer.
Before we take you to the best interest-free credit cards, below mentioned are few things that you should be aware of before opting for an interest-free credit card, even if 24 months interest-free credit card has introductory 0% interest offer.
Beware of Interest Rates and Annual Fee after the introductory period:
As we have stated above, some interest-free credit cards offer interest-free period up to 24 months, which is a really good deal. However, what happens when the introductory period of no interest credit gets over?
So it is really important that you make a note of the interest rates and the annual fee that you will be charged once the introductory period of no interest credit gets over. Do make sure that the interest rates and the annual fee charged by the credit card are comfortable for you when it comes to repayment of the credit.
Have a Control over your Expense with the Credit Card:
0% interest is something that can lure quite a lot of people to get a credit card. Not only that, people often tend to over spend using their credit during the introductory interest-free period and fail to repay the credit within the time when the introductory period gets over.
At the end, they enter a debt trap as the interest charged will be quite high and by then they might have summed up quite a lot in terms of debt on the credit card. So even if you get yourself an interest-free credit card, do make sure that you keep a control over your spending with the credit card and do repay the credit on time.
Use the Introductory No-Interest Period Wisely:
Most interest-free credit cards charge a higher interest after the completion of an introductory offer. So, an interest-free credit card is best if you have some debts with a higher interest rate that you can settle off with your new interest-free credit card.
And once you settle your existing debt with your new interest-free credit card, ensure to repay the credit with new credit card before the no interest period gets over to avoid paying any interest for the amount that you have borrowed
Best Interest-Free Credit Cards:
Now it is time to look for best interest-free credit cards available.
The Citi Simplicity credit card is one of the credit cards that offer the longest no interest period.
Features of Citi Simplicity Credit Card:
- No Late Fee and No Annual Fee for the lifetime.
- 0% interest on balance transfers and purchases for the first 21 months.
- After 21 months, an ongoing variable APR of 14.49% – 24.49% will be charged.
- After 21 months, a fee of either 3% of the total transaction amount or $5 (whichever is greater) will be charged for balance transfers.
- No Penalty APR.
Chase Freedom Credit Card:
The Chase Freedom Credit Card does not only offer an interest-free period but also offers a signup bonus as well.
Features of Chase Freedom Credit Card:
- Spend at least $500 within the first 90 days of signing up for this credit card and you will receive a reward bonus of $150.
- 0% interest for the first 15 months for balance transfers and purchases.
- After the first 15 months, a variable APR of 15.99% – 24.74% will be charged.
- $5 or 5% (whichever is greater) will be charged for balance transfers after the first 15 months.
- 5% in cash back for the first $1500 you spend in purchases using this credit card in every quarter.
- No Annual fee.
Discover it Credit Card – 18 months balance transfer offer:
The Discover it credit card is another best interest-free credit card that also feature a balance transfer offer for the first 18 months.
Features of Discover it Credit Card:
- 0% interest will be charged on purchases for the first 6 months.
- 0% interest will be charged for balance transfers for the first 18 months.
- After the introductory period, a variable ongoing APR of 11.99% – 23.99% will be charged.
- No late fee for the first time.
- No fee on foreign transactions.
- No Annual Fee.
- Get a 1:1 match from Discover it in dollars for every cash back points you have earned by the end of the first year.
Hope you found the above article to be helpful and informative. In case of any doubts regarding the low interest credit cards, do leave a comment below with your query and we will help you out.