The Top Zero-Interest Credit Cards

Zero-interest promotional credit cards are great for those with ‘Good’ (666-749) to ‘Excellent’ (750-850) credit score that are looking for a card that will either provide short-term financing for a major purchase of provide for a break from interest on a running balance.  That being said, I wouldn’t recommend any of these credit cards for a balance transfer.  Most of these credit cards require a balance transfer fee and a relatively high APR thereafter.  If you want to process a balance transfer, I recommend reading my blog entitled Bypass Those Pesky Balance Transfer Fees.

For those still interested in a zero-interest promotion credit card, the table below provides a summary of the cards I recommend, followed by an extended description of each card.

Citi Platinum Select

The Citi Platinum Select credit card offers new card members a zero-interest APR promotion for 12-months on all purchases and 21-months on balance transfers.  For those planning a balance transfer, know that a 3.00% balance transfer fee applies.  Thus, if you are transferring a balance of $5,000, then you will incur a $150 balance transfer fee.

Discover More

The Discover More credit card offers new card members a zero-interest APR promotion for 12-months on all purchases and 18-months on balance transfers.  For those planning a balance transfer, know that a 4.00% balance transfer fee applies.  Thus, if you are transferring a balance of $5,000, then you will incur a $200 balance transfer fee.  Perhaps the greatest benefit of the Discover More credit card is the rewards programs.  With Discover More, card members earn 0.25% on their first $3,000 in purchases for the year and an unlimited 1.00% on all purchases thereafter.  Card members have the opportunity to earn 5.00% cash back on specific bonus categories that rotate quarterly, subject to sign-up and category maximums.  An example of a rotating category is as follows:

From January through March, card members can earn 5.00% cash back on up to $800 in purchases for travel and restaurants.

Category purchases in excess of the bonus category maximum continue to earn the regular 0.25% or 1.00%.

Citi ThankYou Preferred

The Citi ThankYou Preferred credit card offers new card members a zero-interest APR promotion for 12-months on all purchases and balance transfers.  For those planning a balance transfer, know that a 3.00% balance transfer fee applies.  Thus, if you are transferring a balance of $5,000, then you will incur a $150 balance transfer fee.  Citi ThankYou Preferred also offers a rewards program that allows card members to earn ThankYou points redeemable for almost anything, from a large selection of gift cards including dining, entertainment and retail – to an amazing selection of valuable rewards such as electronics, travel rewards, home goods, books and media, charitable donations or even cash.

Capital One Platinum Prestige

The Capital One Platinum Prestige credit card offers new card members a zero-interest APR promotion for 12-months on all purchases and balance transfers.  For those planning a balance transfer, know that a 3.00% balance transfer fee applies.  Thus, if you are transferring a balance of $5,000, then you will incur a $150 balance transfer fee.

Capital One No Hassle Cash Rewards

The Capital One No Hassle Cash Rewards credit card offers new card members a zero-interest APR promotion for 12-months on all purchases.  There is no promotion offered for balance transfers; however, Capital One No Hassle Cash Rewards requires no balance transfer fee.  Another benefit of the Capital One No Hassle Cash Rewards credit card is that it offers a cash rewards program that provides for 2% cash back on purchases at gas stations and major grocery stores and 1% cash back on all other purchases.

Blue from American Express

Blue from American Express offers new card members a zero-interest APR promotion for 12-months on all purchases.  There is no promotion offered for balance transfers and there is a 3.00% balance transfer fee.  Thus, I definitely would not recommend this card for those looking to do balance transfer.  In addition to offering 0% interest for up to 12-months on purchases, Blue allows card members to earn quite a few rewards points rather rapidly.  Card members can then use their points to purchase items at the American Express Bonus Point Mall, which includes 500 different brands from which to purchase merchandise and gift cards.  My points came in handy right after I purchased my first home; when I traded them in for $350 worth of home depot gift cards.

Blue allows card members to earn one point for virtually every dollar spent on their card.  Card members can earn 2X points for booking travel through American Express Travel.  3X points can be earned when card members shop using select online retailers like Apple, Barnes & Noble, and more.  To check out what kinds of items you could potentially trade in your rewards points for, check out the American Express Bonus Point Mall.