0% Credit Cards: No Interest Purchases & Balance Transfers Offers

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Smiling Girl, Happy with 0% Credit Cards0% credit cards are all the rage these days and this list will help you identify the best deals out there. Consumer spending is down, fears of a recession are up, and retailers are scrambling to entice regular people like you and me to enter their stores and buy more stuff. One group of companies you’ll also find lining up to offer you special offers is the credit card industry.

Credit card companies don’t necessarily want you to go into debt to them, though that doesn’t hurt their bottom line. They want you to keep on spending because they earn money on processing transactions. If you review the annual statements of any credit card issuer, most of the income they derive from credit cards comes in the form of data processing and service fees. So, in order to keep spending up as long as possible, more and more are offering great offers such as 0% APY for 12 months on purchases and balance transfers.

No Interest 0% Credit Cards

Below is a list of cards that will give you either 0% on purchases for 12 months and then a list of cards that will give you a 0% on balance transfers for 12 months. Remember to read all the fine print regarding fees for those cards because they are subject to change, I’ll try to stay on top of them and keep these lists accurate but I’m only one person.

If a card offers both, it’s listed on both lists and individuals can apply for cards listed as “business.”

0% Balance Transfers Credit Cards

Many of the cards below have a 3% balance transfer fee and some of them have a cap on how high the fee will be. I can’t keep up with the changing card terms so the only thing I can guarantee I’ll monitor closely is whether they continue to offer a 0% balance transfer. If they stop offering a 0% balance transfer, I’ll pull it from the list. Finally, if you do get a card, remember to request a balance transfer and not “cash,” because they will try to give you a cash advance which won’t be 0%!

Now go out and stimulate that economy!

(Photo by crocidillicus)

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44 Responses to “0% Credit Cards: No Interest Purchases & Balance Transfers Offers”

  1. Miss M says:

    Do any of the 0% balance transfer offers have a cap on the fee, the ones I clicked on all had a 3% fee and no mention of a cap. The last time I did one the fee was capped at $75, but I know the card companies were moving away from that. Do you know?

    • Will says:

      I’ve not been able to find a capped fee card in a couple years now. I find one that will give 12 months (15 months they had a couple times) for a 3%fee. I do the math and usually recoup the 3% in two months of no interest on the old card.

      Good luck.


    • Jordan Weiss says:

      I know of only one credit card company that still does 0% interest balance transfer for 12 months with no transaction fees and that’s capital one. Problem is you usually can’t get high credit limit.

    • Sgt. V says:

      Those days of caps on balance transfers have gone the way of the dinosaur. All fees now involve MINIMUMS. The companies corporate greed changed the way things are done once the government started doing something proactive for the consumers.

  2. jim says:

    I’m afraid I haven’t checked, I know that Discover used to cap the fee.

    • James says:

      I have been getting Discover offers in the mail like clockwork for the last 12 months, and have watched the fee rise from 3%, no cap, to 5%, also no cap. Discover is not as generous with balance transfers as the used to be, the math is a bit less favorable now.

  3. Super Saver says:

    I’m surprised that CC companies are still offering 0% interest transfers given that credit card defaults are likely the next financial catastrophe. It seems we aren’t learning from the credit excesses yet 🙁

  4. DebtGoal says:

    This is a great resource for balance transfer offers. BTs can be a great tool to lower overall interest costs, but they have a dark side by providing a false sense of financial security during the zero percent period. In order to have these offers work to your advantage, you should be sure to have a solid plan to get out of debt in place and make consistent payments to your debt accounts to reduce balances during the low-interest period. Without a plan and adequate tracking, it’s possible to make your situation considerably worse. We have a user who started with 11 cards and approximately $120K in credit card debt who played the BT game. Because she wasn’t tracking her balances, she ended up with 16 cards and and additional $20K in debt after just a year. In her case, she never set up a plan to use these offers to reduce her debt and is now getting hit hard as her intro rates have expired.

    • JAJUKA says:

      I played the Bt game for over 25 years. The trick is not the 0% rates but low APR rates for the life of the payoff without any fees attached. I ended up with about 10 cards and my highest APR was 3.99%. I was able to keep it up by paying the min due plus the finance charge each month. After 25 years, I accumuated over $70,000.00 in debt. Last March I took a withdrawal from from my 401k (I am over 59 1/2 yrs old) and paid off all my debt. I do not suggest the BT game for everyone because it can get away from you very fast.

      • James says:

        I agree, the BT game can be a very competitive source of financing, and can even beat many *traditional* sources of long term financing. I racked up $85,000 during law school because the 3.99 APR was much, much better than the supposedly benign student loan options. However, especially with the recent legislation attacking credit card issuers, I do not think as many options remain – credit issuers are a bit more wary now than they were only one or two years ago.

  5. driven2bfree says:

    Just got info. in the mail today that stated rates on Advanta Business Cards are going up to 37.18% in Jan. I couldn’t believe the rate, so I called & spoke directly w/a Rep. myself. She confirmed the pamphlet that I recvd. was in fact correct & that it was across the board, not just on our particular acct. BEWARE!!

  6. danidee says:

    Jim, we need an update!!! Where are the 0% balance transfers with a cap fee???? Thanks!

    • Jim says:

      Unfortunately, there aren’t any offers out there. 🙁

      Credit card offers simply aren’t very good anymore because of the economy.

    • TM in CA says:

      American Express TrueEarnings Credit Card offers a 0% APR balance transfer – for 3 months – and the fee is a flat fee of $35 for amounts over $400, as of April 2, 2009

  7. jepoole17 says:

    I think an often overlooked benefit to the 0% on Purchases CC offer is the set of “checks” that you receive along with your shiny new card.

    Around Sept 2008, we applied for a Chase MasterCard that boasted 0% on Balance Transfers and Purchases through October 2009. At this point we had already been sticking to our debt repayment plan for 6 months so we decided to take advantage of the offer in order to eliminate interest expenses for over a year while we knocked out our remaining $4000 of CC debt (no fee on BT if applied at time of application).

    Once we’d moved our balances over, we were down to just one CC account and a single “Debt Consolidation Loan” that was hammering us with interest expenses (13%). Using one of the checks that MC sent along with our card, I made a deposit into my checking account for the balance of that loan (approx. $12000) and promptly paid the loan off, effectively consolidating all Credit Card and Loan debt to the 0% credit card. I will say that I paid a small fee for using the check (2-3% of the amount?), but this was significantly better than continuing to pay out the nose for the interest on the loan.

    As with any use of credit, I would caution anyone who considers using these checks as a debt reduction tool to do the math before jumping in. My wife and I discussed several factors at length before choosing to make this move, not the least of which was our own ability to pay off the outstanding balance (approx $16000) in the prescribed timeline, before the intro rate expired. I’m pleased to say that we were able to eliminate the balance altogether by January 2009 (6 months ahead of schedule) due to some good fortune and level-headed budgeting decisions on our parts. We’re now free of all CC debt and are working toward paying off one car loan and then on to the mortgage…

    Sorry for the long post, but I hope that this is a helpful (and possibly unique) addition to the site.

  8. JL says:

    I just got the 0%APR Citicard and I’m trying to figure out what the finance charges are during this period, if there are any. It says 50cent minimum finance charge. And I tried calling them to get someone on the phone who didn’t even know what I was asking and kept reading the same thing over and over again. Anyone know how the finance charge works?

    • ruby2zdy says:

      Finance charges only apply to purchases you make with the card, or cash advances. The finance charges on those may be way different from each other. You won’t get a finance charge on your transferred balance (including the balance transfer fee) until your 0% period is over. I transferred a balance many times (before I started monitoring my FICO score), but the last time I forgot that the card I got with the transfer was for that transfer and I charged a $15 subscription to NatGeo on it. They always apply your payments to your transferred balance first, and charge interest on your purchase, which keeps accumulating till you pay off the transferred balance. So by now, I’ve accrued more in interest (and interest on the interest) on that $15 purchase than the $15 I originally charged. So if you have a card you’ve transferred a balance to to get 0%, make sure you don’t use that card for purchases.

  9. Steve says:

    The finance charge is calculated on your balance transfer fee amount. Always remember too that they always apply your payment to the lowest interest rate first so the higher ones keep accumulating during that time. I good rule that i use per DAVE RAMSEY is to attack your lowest balance first and get rid of it regardless of the interest rate because it will show quick progress and will keep you motivated to attack the next lowest balance and so on and so forth. Pay the minimum on all the others though while attacking the one.

  10. Cynthia says:

    Clark Howard once suggested paying student loan balances last after everything else, because government-backed student loans offer deferrment or elmination due to disablility, unemployment, or death. Credit cards and commercial loans should be targeted first since there is rarely forgiveness for anything with cc compaines!

  11. Dave the Rave says:

    the HSBC premier card is a 0% purchase card for 1 yr. Its not listed here or on creditcards.com. It’s pretty good with no fee but the catch is the ability to apply for it as you have to have 100k to get a HSBC premier checking acct. But that requirement can be waived if you have a personal banking that’s willing to grow with you.

  12. Gary says:

    I’ve had varying amounts from $25000- $375000 over the past 12 years on 0% to 1.99% credit card deals and dodged 10% construction loan charges using it, and when the construction loan was paid off, I started depositing the money in CD’s and Money Market Accounts making a 2-5% spread on the money. Set up auto pay for the minimums, make sure the cash is available to pay off when due and you can’t lose. That’s called arbitrage and I love it.

    Completely unrelated, watch my tv show Superscapes on hgtv on Sunday mornings at 9:30 am and know that guy beats the credit card companies at their own game. Ha!

    Great site by the way and good luck to everyone

  13. Marc Z says:

    If I open one of these 0% credit cards on balances for 6-12 months, Am I charged 0% interest each month as long as I pay the minimum balance due? Does that apply to all purchases I make during the 6-12 months? What is the average interest rate on these cards after the 6-12 month grace period? WHICH CARD DO YOU RECOMMEND OVER ALL CARDS AND WHY.NAT7211

  14. Paul says:

    How to beat the vultures:

    Credit card companies exist to [screw] you over big time. They can literally do any thing they want to do to your account. If you don’t want a house or a new car use them to the max and then file for bankruptcy.

  15. STephanie says:

    Just be careful about going over the limit if your using the BT option. My husband and I just got burned today by going over $40! Not only did they charge us $39 for going over the limit they defaulted our 0% offer to 25%! We have excellent credit and have only had this card for a couple of months. By the way, this is a Citi Card. We are now trying to find another card to get the balance off of it.

    • Lisa says:

      Got burned the same way, by the same company for being over the limit $.84!!!! That’s 84 cents, folks!!!!! I also got charged the $39.00 and my rate was raised also! I have always paid my bill before the due date and the very next month after this happened, they charged my account another $39.00 for still being over the limit, 2 days after my bill had been paid to bring it current!!! Also looking for another card.

    • Cheryl says:

      I had a problem with Citi card. I just started using web bill pay and I payed Citi card online, problem is, there is processing time which I was not aware of. My $50 dollar monthly payment became a $378.42 payment the following month. The Citi card rep was rude, actually cocky,like it was amusing to her, which only added fuel to the fire. They added a whopping late charge fee, which put me over the limit and then raised my APR to the highest allowable. I don’t see how this happened, when I haven’t used this card in months and have been making regular payments. I have always had excellent credit. I rue the day I applied for a Citi Card. They are the worst. I am still fuming over Citi Card’s treatment.

  16. Gloria Smith says:

    I just got a letter from Citi card saying that because I haven’t used the card in a while, they’re not only going to close my account as of 12-1, but even if I DO use it, they’re lowering my credit limit to $100.00. Can you guess what MY response was?????

    • ruby2zdy says:

      Chase cancelled 2 of my cards for non-use (I don’t know what the non-use period of time was), without any warning, and refused to reinstate them. This can mess with your FICO score because it reduces the amount you can borrow, and raises the % of how much you’ve borrowed compared to the amt you can borrow. So it’s a good idea to use all of your cards once every 6 months or so, and pay the balance off that month so you don’t get charged interest.

      • aua868s says:

        i am waiting for over a month about a check from chase. whats up with them and why do they suck?!

    • aua868s says:

      stick it up?!?!?

    • Cheryl says:

      Thats unreal. I don’t know what your response was, but I know what mine would be. I am fuming over the way they treat their customers!
      On a positive note, kudos to you for not having a balance!

  17. Marilyn says:

    Was approved for 5700 transfer to Discover. My statement came in mail and I was charged $282.00 for tranfer fee. Called company. Said guidelines had changed since I was approved on line. They would not correct. Bad business. I changed cards

  18. j says:

    beware of citi, they pulled a similar thing on me, i had a credit card with 0% balance transfer for 12 months, signed up for online payment one month and did not enter the extra numbers for my bank account, so payment did not register by the due date.

    a couple days later a citi rep called, so i immediately paid over the phone with another card. they reversed the late fee when i asked, but defaulted to 26% interest three months before my time was up due to this mistake.

    i had been paying more than the minimum each month, and did not miss a payment (just had the one payment several days late due to the online snafu). they were not willing to transfer me to another plan with a lower rate than 26%, so i am transferring balance back to my local credit union, who has never given me any grief in 25 years of business with them.

    i would recommend working with a local bank or credit union, even if you end up paying interest. my credit union has been at 12.9% interest for years with no rate hikes or lowering of credit limits.

    • kelley says:

      citi is full of it…. they raised my rate because they could. just before legislation passed thy maxed it. I called to inquire and was told it was nothing that can be done. i now have a monthly finance charge that is crazy. and my account was almost 50% paid off at the time. can’t wait to cancel

  19. grace says:

    Do you know if any of these 0% interest cards offer the deal on cash advances? thanks!

  20. Sun says:

    Don’t request a balance transfer when you apply online. When you activate your card, request a balance transfer. The cc company will mail you a check. You can do whatever you want with the check. In effect, a cash advance but without the big fee.

  21. Anonymous says:

    how high does the monthly interest rate get? Dos it fluctuate and how much?

  22. paige says:

    how much is the interest rate and dos it fluctuate?

  23. Steve says:

    Heheheh…we’ve been playing the BT game for about ten years, parlaying down our over credit debt to roughly HALF of what it was, just by paying CLOSE attention to the rates, making MORE than minimum payments (because, hell, if I could make all the OTHER minimum payments, I could COMBINE them all, and make one BIG one to the BT card) and careful timing. When we get close to the end of the introductory rate, we go to another 0% card. Oh, yeah, another thing: DO NOT USE THE CARD FOR ANYTHING ELSE! “Spend less than you make” isn’t just hollow advice.

  24. Moira McCartney says:

    Why was I refused a balance transfer from Virgin Money ..July 2011 UK?

  25. Chris O. says:

    USAA.com has 0% APR with no transfer charge through 03/05/12. After that you they charge 3% or $75. This is a great bank, supports veterans, and you may need an invitation to join. Check out USAA.com. Very fair, and great insurance too.

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