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6 Low Interest Rate Credit Cards – November 2020

Sunday, November 1, 2020

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Written By

Tracy Brackman Tracy Brackman

Carrying a balance on your credit card is never ideal, but sometimes it’s unavoidable. And with credit cards that have interest rates as high as 25%, it can be hard to get out of debt because a large portion of your payment goes to interest.

Currently, you may find yourself struggling to pay off your balance, but worry not — there are low-interest cards that have APRs starting at around 6%.

Low-interest cards are a great way to save money on interest when you find yourself carrying a balance. The APRs on these cards max out around 18% on average. Some low-interest cards mentioned here even have 0% introductory APR periods that are helpful if you have an existing balance on a credit card and want to transfer it, or if you plan on making purchases that you need several months to pay off.

The six main cards in this post are from credit unions, which often have lower rates than large banks. But they require memberships, which are sometimes restricted to certain states. In this post, we’ll explain the six lowest interest rate credit cards and what’s required to qualify.

6 low interest rate credit cards

 

Visa® Titanium Signature Rewards Card from Andrews Federal CU

Visa® Titanium Signature Rewards Card from Andrews Federal CU

Visa® Titanium Signature Rewards Card from Andrews Federal CU

Annual fee
$0
Regular Purchase APR
8.49% Variable

The Visa® Titanium Signature Rewards Card from Andrews Federal CU has the lowest ongoing APR on our list at 8.49% Variable. If you qualify for the lowest rate and end up carrying a balance, you may be charged little interest (compared with higher APR cards). This card is a good option if you have existing debt on a credit card, because you can transfer it during the balance transfer intro period.

Here are features to know about when using this card to pay off debt:

  • Ongoing Regular APR: 8.49% Variable
  • Balance transfer fee: 1.50% of the transfer amount or $50; whichever is greater

How to qualify: Anyone can apply for this card, regardless of residence. If you don’t meet one of the several eligibility requirements, you can join the American Consumer Council for a one-time $5 donation if you have used a major consumer product or service in the past 12 months, such as a motor vehicle, insurance or housing.

TruWest Visa Platinum Card

TruWest Visa Platinum Card

TruWest Visa Platinum Card

Annual fee
$0
Regular Purchase APR
5.95% - 19.95% Variable

The regular purchase APR on the TruWest Visa Platinum Card has a wider range than the other cards on this list at 5.95% - 19.95% Variable. The card offers 0% introductory APR for 18 months on purchases and balance transfers, which is a large amount of time for to carry a balance interest-free.

Here are features to know about when using this card to pay off debt:

    • Intro purchase APR: 0% introductory APR for 18 months
    • Intro balance transfer APR: 0% introductory APR for 18 months
    • Ongoing Regular APR: 5.95% - 19.95% Variable
  • Balance transfer fee: 3% of the amount of each balance transfer

How to qualify: Unfortunately, not everyone can apply for this card. It is restricted to people who live, work, own a business, or go to school in select Arizona and Texas communities or who work for select employers. You can read more about membership eligibility on TruWest’s website.

Visa® Platinum Card from Trustmark Bank

Visa® Platinum Card from Trustmark Bank

Visa® Platinum Card from Trustmark Bank

Annual fee
$0
Regular Purchase APR
6.15%-11.15% Variable

The Visa® Platinum Card from Trustmark Bank bank has a great low APR range. This is the best range on the list when considering both the minimum and maximum APR, and it benefits people who may not have the best credit because the highest interest rate is still lower than most credit cards. So what’s the catch? Unfortunately, this card has restricted membership (see below for details) and the 0% introductory APR periods are very low compared to other cards.

Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: 0% Introductory APR for the first six billing cycles
  • Intro balance transfer APR: 0% Introductory APR for the first six billing cycles
  • Ongoing Regular APR: 6.15%-11.15% Variable
  • Balance transfer fee: None

How to qualify: Anyone can apply, however you can’t apply online. You either have to go to one of their locations or call and have an application mailed to you.

BECU Visa® Credit Card from Boeing Employees CU

BECU Visa® Credit Card from Boeing Employees CU

BECU Visa® Credit Card from Boeing Employees CU

Annual fee
$0
Regular Purchase APR
6.90% to 17.90% Variable

The BECU Visa® Credit Card from Boeing Employees CU is an overall standout card with a reasonable APR and great additional benefits. For example, there is a Reprice Program where BECU will lower your rates as your credit score improves. This is a great feature, especially for people who don’t qualify for the lowest rate. Additionally, there are limited fees, such as no balance transfer fee — allowing you to maximize savings when you transfer debt from another card.

Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: 0% Introductory APR for twelve (12) months from date of account opening.
  • Intro balance transfer APR: 0% Introductory APR for twelve (12) months from date of transfer when transfers are completed within 90 days of account opening.
  • Ongoing Regular APR: 6.90% to 17.90% Variable
  • Balance transfer fee: None

How to qualify: This card has restricted membership with several ways to qualify: you need to live in Washington State or select counties in Oregon, have a relationship with select employers or associations, or have a business or organization that meets certain requirements. Find out more about membership here.

TruWest Platinum Points Visa Rewards Card

TruWest Platinum Points Visa Rewards Card

TruWest Platinum Points Visa Rewards Card

Annual fee
$0
Regular Purchase APR
7.90% - 14.90% Variable

The starting APR for the TruWest Platinum Points Visa Rewards Card is a bit higher than other low interest cards, but the max APR is fairly low. Similar to the TruWest Visa Platinum Card, the TruWest Platinum Points Visa Rewards Card has a long 0% introductory APR for 18 months on purchases and balance transfers. This card also comes with a rewards program where you can automatically earn up to one point per dollar spent, though we recommend using this card to pay down debt and not earn rewards.

Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: 0% introductory APR for 18 months
  • Intro balance transfer APR: 0% introductory APR for 18 months
  • Ongoing Regular APR: 7.90% - 14.90% Variable
  • Balance transfer fee: 3%

How to qualify: Like the other TruWest card, this card is restricted to people who live, work, own a business or go to school in select Arizona and Texas communities or who work for select employers. You can read more about membership eligibility on TruWest’s website.

Visa® Platinum Card from NIHFCU

Visa® Platinum Card from NIHFCU

Visa® Platinum Card from NIHFCU

Annual fee
$0
Regular Purchase APR
7.99%-16.99% Variable

The Visa® Platinum Card from NIHFCU has the highest starting APR of all the cards on this list. However, there is a decent 0% intro rate for 12 months on purchases and balance transfers and a balance transfer fee of $10.00 or 2.00% of the amount of each balance transfer, whichever is greater.

Here are features to know about when using this card to pay off debt:

  • Intro purchase APR: 0% intro rate for 12 months
  • Intro balance transfer APR: 0% intro rate for 12 months
  • Ongoing Regular APR: 7.99%-16.99% Variable
  • Balance transfer fee: $10.00 or 2.00% of the amount of each balance transfer, whichever is greater

How to qualify: This card restricts membership to people in the biomedical and healthcare industries in Md., N.C., Va., W.Va., or Washington D.C. You can also qualify if a family member is a current NIHFCU member. Visit NIHFCU’s site for more details.

Other options

Below, we’ve compiled a few options if you want a 0% APR intro offer or if you want to consider a balance transfer card. All of these cards are issued from major banks, so there are no membership restrictions to apply.

Cards with a 0% APR intro period on purchases and balance transfers

Blue Cash Preferred® Card from American Express

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Blue Cash Preferred® Card from American Express

Regular Purchase APR
13.99%-23.99% Variable
Intro Purchase APR
0% on purchases for 12 months
Intro BT APR
N/A
Annual fee
$0 introductory annual fee for one year, then $95
Rewards Rate
6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases.
Balance Transfer Fee
N/A
Credit required
good-credit
Excellent/Good

The Blue Cash Preferred® Card from American Express offers an intro APR of 0% on purchases for 12 months (after that, a 13.99%-23.99% Variable APR applies). This is a good amount of time for you to pay off new purchases you make without accruing interest charges. Plus, you can earn rewards on those new purchases — earn – 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases. While there’s a $0 introductory annual fee for one year, then $95 annual fee, if you utilize all the benefits provided by this card, it can be worthwhile.

To see rates & fees for the Blue Cash Preferred® Card from American Express, please click here.

Citi Simplicity® Card - No Late Fees Ever

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The information related to Citi Simplicity® Card - No Late Fees Ever has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Citi Simplicity® Card - No Late Fees Ever

Intro Purchase APR
0% for 18 months on Purchases
Intro BT APR
0% for 18 months on Balance Transfers
Regular Purchase APR
14.74% - 24.74% (Variable)
Annual fee
$0
Balance Transfer Fee
Balance transfer fee – either $5 or 3% of the amount of each transfer, whichever is greater.
Credit required
good-credit
Excellent/Good
The Citi Simplicity® Card - No Late Fees Ever one of the longest intro 0% APR periods for balance transfers on the market, at intro 0% for 18 months on Balance Transfers. This is over a year and a half for you to rid yourself of debt. Note that there is a balance transfer fee of Balance transfer fee – either $5 or 3% of the amount of each transfer, whichever is greater.. There is also an intro 0% for 18 months on Purchases. After the intro periods end, the APR is 14.74% - 24.74% (Variable).

Sphere® Credit Card from Santander

Santander Bank, N.A. is not accepting credit card applications at this time.

The Sphere® Credit Card from Santander has one of the longest balance transfer intro periods in our database at 0% intro APR on balance transfers for 18 billing cycles if taken within the first 90 days of account opening (after that, a 14.74% to 24.74% Variable APR applies). Although this is a great amount of time for you to pay off transferred debt, it comes with a hefty balance transfer fee at $10 or 4% of the amount of each transaction, whichever is greater. This is something to consider before choosing a card, but the balance transfer fee may be worth it if you’re saving money from high-interest payments with your current card. Purchases can also benefit from a 0% intro APR on purchases for the first 18 billing cycles (after that, a 14.74% to 24.74% Variable APR applies). There is also a rewards program: earn 1 reward point for every dollar spent, with no limits. However, we recommend using this card to pay off debt and not just to earn rewards.

How to qualify: This card is only available to people who live in: Conn., Washington D.C., Del., Maine, Md., Mass., N.H., N.J., N.Y., Pa., R.I., or Vt.

Wells Fargo Platinum card

Like the Sphere® Credit Card from Santander, the Wells Fargo Platinum card allows cardholders to enjoy an interest-free period on purchases and balance transfers for a year and a half. The card offers an intro APR on purchases of 0% for 18 months, then a regular APR of 15.49%-24.99% (Variable) applies. The card also offers an intro APR of 0% for 18 months on qualifying balance transfers, then a regular APR of 15.49%-24.99% (Variable).

Keep in mind, though, that the Wells Fargo Platinum card charges a balance transfer fee of 3% for 120 days, then 5%.

Chase Slate®

The Chase Slate® is one of our favorite balance transfer cards listed on our site. It offers a 0% Intro APR on Purchases for 15 months and a 0% Intro APR on Balance Transfers for 15 months (then, a 16.74% - 25.49% Variable APR applies). This isn’t the longest intro period, but this card comes with a standout feature of an Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater. This can save you on the typical 2-5% balance transfer fee many other cards charge.

The bottom line

If your goal is to reduce the amount of interest you pay on your credit card debt, look at cards with low APRs and membership requirements you can meet. Remember that your credit score will be a significant factor in the APR you receive, so be sure to look at both ends of the APR ranges when comparing cards, since you may not receive the lowest rate.

The information related to the Chase Slate® has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

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Best of, Earning Cashback

The Best Cashback Credit Cards for Every Category – 3% and More in November 2020

Sunday, November 1, 2020

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Written By

Alexandria White Alexandria White

 

Tracy Brackman Tracy Brackman

Reviewed By

Tracy Brackman

credit card and dollar close-up

In our analysis, there are over 25 categories where you can earn 3% or more in cash back on your credit card purchases. In this post, you’ll find the best cashback credit cards that earn more than 3% cash back in popular spending categories, such as dining, gas, airfare and groceries.

U.S. Supermarkets – up to 6% (on up to $6,000 per year in purchases, then 1%)

Blue Cash Preferred® Card from American Express

APPLY NOW Secured

on American Express’s secure website

Terms Apply |  Rates & Fees

Read Full Review

Blue Cash Preferred® Card from American Express

Regular Purchase APR
13.99%-23.99% Variable
Intro Purchase APR
0% on purchases for 12 months
Intro BT APR
N/A
Annual fee
$0 introductory annual fee for one year, then $95
Rewards Rate
6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases.
Balance Transfer Fee
N/A
Credit required
good-credit
Excellent/Good

The Blue Cash Preferred® Card from American Express offers the highest rate we could find for U.S. supermarket shopping: 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases. This card does have a $0 introductory annual fee for one year, then $95 annual fee, but if you spend $1,584 a year at U.S. supermarkets, you’d earn enough cash back to recoup the annual fee.

To see rates & fees for the Blue Cash Preferred® Card from American Express, please click here.

Gas – 5%

Platinum Visa® from Abound Credit Union

Platinum Visa® from Abound Credit Union

Annual fee
$0
Rewards Rate
Unlimited 5% cash rewards for gas and 1% cash rewards for other eligible purchases.
Regular Purchase APR
10.75% - 18.00% Variable

You might not have heard of this credit union, but anyone can join. You just need to pay $5 to join the American Consumer Council / Kentucky and you’re eligible.

Another option includes the Sams Club® Mastercard®. You earn 5% cash back on eligible gas worldwide, including gas at Sam's Club (on the first $6,000 per year, then 1% after). Earn 3% cash back on dining and travel. Earn 1% cash back on other purchases at Sam's Club and wherever Mastercard is accepted. You need to be a Sam’s Club member to hold the card.

Dining – 4%

The Capital One® Savor® Cash Rewards Credit Card offers unlimited 4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through Jan 2022. The card also lets you earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening.

Cardholders will be charged an annual fee of $95.

Airfare – 3%

Uber Visa Card

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The information related to Uber Visa Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Uber Visa Card

Annual fee
$0
Rewards Rate
5% back in Uber Cash on Uber, Uber Eats, and JUMP, 3% back in Uber Cash on dining, hotels, and airfare and 1% back in Uber Cash on all other purchases
Regular Purchase APR
17.24% - 27.99% Variable

The Uber Visa Card earns 5% back in Uber Cash on Uber, Uber Eats, and JUMP, 3% back in Uber Cash on dining, hotels, and airfare and 1% back in Uber Cash on all other purchases. The foreign transaction fee is 0% of each transaction in U.S. dollars. So it’s great if you travel outside the U.S.

General purchases: Alliant Cashback Visa® Signature Card

The Alliant Cashback Visa® Signature Card card earns Unlimited 2.5% cash back on all purchases (note, this does not include certain categories, such as gift cards). The card also comes with a $99 annual fee, waived the first year.

Keep in mind that Alliant is targeting this card to high spenders with excellent credit, so it might be tough to get approved.

Earning cash back in other popular spending categories

We’ve organized cashback cards for each of the over 25 spending categories that are currently eligible for 3% or more in cashback rewards. They include both year-round offers and quarterly rotating categories.

You’ll find three types of cashback rewards, in the order of hassle factor:

  • Unlimited cash back – This is the simplest form. You usually won’t find the very highest 5%+ rewards this way, but we’ve found some great cards that get you 3% or more in some popular categories.
  • Cash back with limits – This is where a card limits the cash back you earn by putting a cap on the spending which earns the cash back in the specific category, on a combination of categories, or the card as a whole.
  • Quarterly rotating categories – These are the cards with the big headline 5% rates. Don’t be fooled. While you can earn the 5% rate, you may have to opt in to categories each quarter manually and be hit with caps on how much you can earn.

Airfare

Unlimited

With limits

  • 3%: Huntington Voice Credit Card® – 3X points in one of 10 categories (capped at $2,000 each quarter or 6000 points), and all other purchases earn 1X points.

Amazon.com

Unlimited

  • 5%: Amazon Prime Rewards Visa® Signature Card* (Prime members only)
  • 3%: Amazon Rewards Visa® Signature Card*

Bookstores

With limits

  • 5%: U.S. Bank Cash+™ Visa Signature® Card* up to $2,000 / quarter across two 5% categories you choose

Car Rentals

Unlimited

With limits

  • 5%: U.S. Bank Cash+™ Visa Signature® Card up to $2,000 / quarter across two 5% categories you choose
  • 3%: Huntington Voice Credit Card® – 3X points in one of 10 categories (capped at $2,000 each quarter or 6000 points), and all other purchases earn 1X points.
  • 3%: Visa Rewards Credit Card from InFirst FCU (no annual fee -join FAPAC at a reduced rate of $10 using discount code INFIRST)

Cell phone

With limits

  • 5%: Chase Freedom® – up to $1,500 when you activate – Jan – March 2020
  • 5%: U.S. Bank Cash+™ Visa Signature® Card – up to $2,000 / quarter across two 5% categories you choose
  • 5%: Ink Business Cash® Credit Card* – on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year

Clothing Stores

With limits

  • 5%: U.S. Bank Cash+™ Visa Signature® Card* up to $2,000 / quarter across two 5% categories you choose
  • 3%: Huntington Voice Credit Card® – 3X points in one of 10 categories (capped at $2,000 each quarter or 6000 points), and all other purchases earn 1X points.

Commuting, Taxis

Unlimited

  • 3%: Citi Premier® Card* ($95 annual fee)

Department Stores

Select U.S. department stores. See the list here.

  • 3%: Blue Cash Preferred® Card from American Express ( $0 introductory annual fee for one year, then $95 annual fee). See Rates & Fees.

With limits

  • 5%: U.S. Bank Cash+™ Visa Signature® Card* up to $2,000 / quarter across two 5% categories you choose
  • 3%: Huntington Voice Credit Card® – 3X points in one of 10 categories (capped at $2,000 each quarter or 6000 points), and all other purchases earn 1X points.

Discount Stores

With limits

  • 3%: Huntington Voice Credit Card® – 3X points in one of 10 categories (capped at $2,000 each quarter or 6000 points), and all other purchases earn 1X points.

Drugstores

With limits

  • 5%: Discover it® Cash Back – up to $1,500 when you activate – Jan – March 2020 (CVS and Walgreens)
  • 3%: Bank of America® Cash Rewards Credit Card* – 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, 1% on all other purchases
  • 3%: Huntington Voice Credit Card® – 3X points in one of 10 categories (capped at $2,000 each quarter or 6000 points), and all other purchases earn 1X points.

Electronics

With limits

  • 5%: U.S. Bank Cash+™ Visa Signature® Card* up to $2,000 / quarter across two 5% categories you choose
  • 3%: Huntington Voice Credit Card®* – 3X points in one of 10 categories (capped at $2,000 each quarter or 6000 points), and all other purchases earn 1X points.

Furniture

With Limits

  • 5%: U.S. Bank Cash+™ Visa Signature® Card up to $2,000 / quarter across two 5% categories you choose
  • 3%: Bank of America® Cash Rewards Credit Card – 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, 1% on all other purchases

Gas

Unlimited

  • 5%: Platinum Visa® from Abound Credit Union (anyone can join the credit union by becoming a member of the American Consumer Council for $5)
  • 4.25%: PenFed Platinum Rewards Visa Signature® Card (anyone can become a member of PenFed paying a one time dues to Voices for America’s Troops for $14 or National Military Family Association for $15)
  • 4%: Visa Rewards Credit Card from InFirst FCU (no annual fee – can join FAPAC at a reduced rate of $10 using discount code INFIRST)
  • 3-5%: PenFed Power Cash Rewards Visa Signature® Card
  • 3%: Blue Cash Preferred® Card from American Express ( $0 introductory annual fee for one year, then $95 annual fee). See Rates & Fees.
  • 3%: AARP® Credit Card from Chase Bank*
  • 3%: The Farmers® Rewards Visa® Card from Comenity Bank
  • 3%: Coastal Credit Union, Apple Credit Union, Vystar, and several other credit unions
  • 3%: Citi Premier® Card* ($95 annual fee)

With limits

  • 5%: Chase Freedom® – up to $1,500 when you activate – Jan – March 2020
  • 5%: USAA® Cashback Rewards Plus American Express® Card – up to $3,000 a year in purchases
  • 5%: Sams Club® Mastercard® – up to $6,000 cash back a year
  • 5%: Visa® Platinum Cash Rewards credit card from Nusenda Credit Union – Jan – March 2020 – up to $1,500
  • 4%: Costco Anywhere Visa® Card by Citi* – for the first $7,000 per year and then 1% thereafter
  • 3%: U.S. Pride® Credit Card* – on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter
  • 3%: Huntington Voice Credit Card® – up to $2,000 in spending a quarter in one category of your choice
  • 3%: Bank of America® Cash Rewards Credit Card* – on the first $2,500 in combined grocery/wholesale club/gas purchases each quarter

Supermarket Spending

Unlimited

  • 5%: Amazon Prime Rewards Visa® Signature Card* – Earn 5% at Whole Foods Market
  • 3%: Amazon Rewards Visa® Signature Card* – Earn 3% at Whole Foods Market

With limits

  • 6%: Blue Cash Preferred® Card from American Express – Earn 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). Terms apply.
  • 5%: Discover it® Cash Back – up to $1,500 when you activate – Jan – March 2020
  • 5%: Visa® Platinum Cash Rewards credit card from Nusenda Credit Union – Jan – March 2020 – up to $1,500
  • 3%: Visa Signature Cash Rebate Card from Consumers CU – up to $6,000 rebate per year – anyone can become a member of the credit union
  • 3%: Huntington Voice Credit Card® – up to $2,000 a quarter
  • 3%: Blue Cash Everyday® Card from American Express – Earn 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). Terms apply.

Gyms

With Limits

  • 5%: U.S. Bank Cash+™ Visa Signature® Card* up to $2,000 / quarter across two 5% categories you choose

Home Improvement

No limits

  • 3%: The Farmers® Rewards Visa® Card from Comenity Bank*

With limits

  • 3%: Bank of America® Cash Rewards Credit Card* – 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, 1% on all other purchases
  • 3%: Huntington Voice Credit Card® – up to $2,000 in spending a quarter in one category of your choice

Hotels

Unlimited

  • 3%: Uber Visa Card*
  • 3%: AAA Member Rewards Visa Signature® Card*
  • 3%: Citi Premier® Card* ($95 annual fee)
  • 3%: Costco Anywhere Visa® Card by Citi* (need to be a Costco member)
  • 3%: Visa Rewards Credit Card from InFirst FCU (no annual fee – can join FAPAC at a reduced rate of $10 using discount code INFIRST)
  • 3%: Sams Club® Mastercard®

With limits

  • 3%: Bank of America® Cash Rewards Credit Card* – 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, 1% on all other purchases
  • 3%: Huntington Voice Credit Card® – up to $2,000 in spending a quarter in one category of your choice

Movie Theaters

With Limits

  • 5%: U.S. Bank Cash+™ Visa Signature® Card* up to $2,000 / quarter across two 5% categories you choose

Office Supply Stores

With limits

  • 5%: Ink Business Cash® Credit Card* – up to $50,000 in bonus purchases a year
  • 3%: Huntington Voice Credit Card® – up to $2,000 in spending a quarter in one category of your choice

Restaurants

Unlimited

  • 3%: Uber Visa Card*
  • 3%: AARP® Credit Card from Chase Bank*
  • 3%: Sams Club® Mastercard®
  • 3%: Marvel Mastercard®*
  • 3%: Costco Anywhere Visa® Card by Citi* (need to be a Costco member)
  • 3%: Visa Rewards Credit Card from InFirst FCU (no annual fee – can join FAPAC at a reduced rate of only $10 using discount code INFIRST)

With Limits

  • 3%: Huntington Voice Credit Card® – up to $2,000 in spending a quarter in one category of your choice

Sporting Goods Stores

With limits

  • 5%: U.S. Bank Cash+™ Visa Signature® Card* up to $2,000 / quarter across two 5% categories you choose
  • 3%: Huntington Voice Credit Card® – up to $2,000 a quarter

Target

Unlimited

  • 5%: Target REDcard™ Credit Card

Trains, Cruises, Other Vacation

Unlimited

  • 3%: AAA Member Rewards Visa Signature® Card*
  • 3%: Citi Premier® Card* ($95 annual fee)
  • 3%: Visa Rewards Credit Card from InFirst FCU (no annual fee – can join FAPAC at a reduced rate of $10, using discount code INFIRST)
  • 3%: Sams Club® Mastercard®

With limits

  • 3%: Huntington Voice Credit Card® – up to $2,000 in spending a quarter in one category of your choice

Utilities

  • 3%: Huntington Voice Credit Card® – up to $2,000 in spending a quarter in one category of your choice

*The information related to this offer has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information. These offers and/or promotions may have since changed, expired, or are no longer available.

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Longest 0% Purchase Credit Card Offers From Banks & Credit Unions – November 2020

Sunday, November 1, 2020

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

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Tracy Brackman Tracy Brackman
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This offer and/or promotion may have since changed, expired, or is no longer available.

If you’re planning to make a large purchase and pay it off over several months, you should consider a credit card that lets you carry a balance for an extended period of time without paying interest.

There are currently several credit cards available that offer 0% introductory APRs on purchases for more than a year. When deciding which one is right for you, in addition to the length of the introductory APR, you should look at the ongoing interest rate, the annual fee and the card benefits.

Based on our research of cards available through MagnifyMoney, as well as top cards offered by major issuers and credit unions, we have compiled a list of credit cards that offer the longest introductory APRs on purchases.

20-month no interest credit card

U.S. Bank Visa® Platinum Card

The U.S. Bank Visa® Platinum Card offers the longest introductory APR on purchases currently available. Cardholders receive a 0%* intro APR for 20 billing cycles on Purchases*. After that, a regular APR of 13.99% - 23.99%* (variable) applies.

The card also offers a 0% intro APR for 20 billing cycles on Balance Transfers*, then an APR of 13.99% - 23.99%* (Variable).

Additional U.S. Bank Visa® Platinum Card benefits:

  • $0* annual fee
  • Cellphone protection
  • Free TransUnion credit score

What to look out for. The U.S. Bank Visa® Platinum Card does not offer a rewards program. However, that is typical for a card offering such a long introductory APR on purchases and balance transfers. Additionally, if you transfer a balance to the card, you will be subject to balance transfer fees of either 3% of the amount of each transfer or $5 minimum, whichever is greater.

18-month no interest credit card

Wells Fargo Platinum card

Not far behind the U.S. Bank Visa® Platinum Card, the Wells Fargo Platinum card offers an introductory APR of 0% for 18 months, then a regular APR of 15.49%-24.99% (variable) will apply to any remaining balance or new purchases.

Cardholders also receive an intro APR on balance transfers of 0% for 18 months on qualifying balance transfers, then an APR of 15.49%-24.99% (variable).

Additional Wells Fargo Platinum card benefits:

  • $0 annual fee
  • Access to your FICO credit score through Wells Fargo Online
  • Auto rental collision damage waiver
  • Travel accident insurance
  • Travel and emergency assistance services
  • Cellphone protection
  • Overdraft protection

What to look out for. The Wells Fargo Platinum card also does not offer a rewards program. Additionally, the card comes with a balance transfer fee of either $5 or 3% for 120 days, then 5% with a minimum of $5.

TruWest Visa® Signature Card

Along with an extended introductory APR on purchases and a sign-up bonus, the TruWest Visa® Signature Card offers rewards on every purchase and access to Visa Signature benefits. Cardholders receive a 0% introductory APR for 18 months on purchases. After that, a low, ongoing APR of 7.90%-8.90% variable applies. Plus, cardholders earn 1 point per dollar spent, and up to 10 extra points per dollar spent when you sign up for the Get Extra Points Program.

Additional TruWest Visa® Signature Card benefits:

  • 0% introductory APR for 18 months on balance transfers, then 7.90%-8.90% variable APR
  • $0 annual fee
  • Earn $100 when you spend $100 in the first 90 days
  • Earn up to 1.5% cash back with the TruRewards program
  • Visa Signature benefits, such as hotel upgrades and concierge services

What to look out for. This card is restricted to TruWest Credit Union members, which includes people who live, work, own a business or go to school in select Arizona and Texas counties, or who are related to a current TruWest Credit Union member. You can read more about membership eligibility on TruWest’s website.

TruWest Visa Platinum Card

Like the TruWest Visa® Signature Card, the TruWest Visa Platinum Card also offers a 0% introductory APR for 18 months on purchases, then a low regular APR of 5.95% - 19.95% variable.

Additional TruWest Visa Platinum Card benefits:

  • 0% introductory APR for 18 months on balance transfers, then 5.95% - 19.95% variable APR
  • $0 annual fee
  • Low starting APR on purchases and balance transfers

What to look out for. Unlike the TruWest Visa® Signature Card, the TruWest Visa Platinum Card does not offer a rewards program. Also, keep in mind that the card is only available to TruWest Credit Union members.

TruWest Platinum Points Visa Rewards Card

The TruWest Platinum Points Visa Rewards Card also offers a 0% introductory APR for 18 months on purchases. After the intro period, the regular APR is 7.90% - 14.90% variable.

Similar to the TruWest Visa® Signature Card, the TruWest Platinum Points Visa Rewards Card offers a sign-up bonus and rewards program. Cardholders automatically earn up to 1 point for every $1 you spend, and earn up to 10 extra points per dollar spent. Plus, earn $100 when you spend $100 in the first 90 days.

Additional TruWest Platinum Points Visa Rewards Card card benefits:

  • 0% introductory APR for 18 months on balance transfers, then 7.90% - 14.90% variable APR
  • $0 annual fee
  • Automatically earn up to 1 point for every $1 you spend, and earn up to 10 extra points per dollar spent. Also, earn up to 1.5% cash back with the TruRewards program.

What to look out for. While they offer the same rewards rate, the TruWest Platinum Points Visa Rewards Card does not offer the same exclusive Visa Signature benefits, including hotel upgrades, as the TruWest Visa® Signature Card. Also, as with the other TruWest credit cards, the TruWest Platinum Points Visa Rewards Card is only available to TruWest Credit Union members.

15-month no interest credit card

Chase Freedom®

The Chase Freedom® offers a generous amount of cash back in popular spending categories, with a slightly shorter introductory APR period. The card provides a 0% Intro APR on Purchases for 15 months, then an APR of 14.99% to 23.74% variable. Plus, cardholders earn the following rewards rate: Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases.

Additional Chase Freedom® benefits:

  • Earn a $200 Bonus after spending $500 on purchases in your first 3 months from account opening.
  • 0% Intro APR on Balance Transfers for 15 months, then 14.99% to 23.74% variable APR
  • $0 annual fee
  • Purchase protection
  • Extended warranty

What to look out for. The Chase Freedom® only allows you to earn the higher bonus rate on the first $1,500 in combined purchases each quarter. Still, if you max out the $1,500 cap, you can earn $75 cash back per quarter.

Chase Freedom Unlimited®

The Chase Freedom Unlimited® offers the same introductory APR on purchases as the Chase Freedom®, but with a flat cashback rewards rate. Cardholders receive a 0% Intro APR for 15 months on purchases, then a regular APR of 14.99% - 23.74% variable.

Cardholders also earn a Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.

Additional Chase Freedom Unlimited® benefits:

  • N/A on balance transfers, then 14.99 - 23.74% variable APR
  • $0 annual fee
  • Complimentary three-month DoorPass membership from DoorDash (activate by Dec. 31, 2021)
  • Purchase protection
  • Extended warranty

What to look out for. While the Chase Freedom Unlimited® also offers a long introductory APR on balance transfers, keep in mind that the card charges a Either $5 or 5% of the amount of each transfer, whichever is greater.

Blue Cash Everyday® Card from American Express

Blue Cash Everyday® Card from American Express

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Blue Cash Everyday® Card from American Express

Intro Purchase APR
0% on purchases for 15 months
Intro BT APR
N/A
Regular Purchase APR
13.99%-23.99% Variable
Annual fee
$0
Rewards Rate
3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.

Along with an intro 0% on purchases for 15 months on purchases, then a regular APR of 13.99%-23.99% variable, the Blue Cash Everyday® Card from American Express offers an elevated cashback rate in everyday spend categories.

Cardholders earn 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases. Plus, earn a earn 20% back on purchases at amazon.com on the card in the first 6 months, up to $200 back. plus, earn $100 back after you spend $1,000 in purchases on your new card within the first 6 months

Additional Blue Cash Everyday® Card from American Express benefits:

  • $0 annual fee
  • Car rental loss or damage insurance
  • Complimentary ShopRunner membership
  • Terms apply.

What to look out for. The Blue Cash Everyday® Card from American Express limits the amount of cash back you can earn at the higher rate, however. Once you spend $6,000, you will only earn the lower cash back at U.S. supermarkets. However, if you max out the $6,000 spend cap, you will earn $180 back on those purchases.

To see rates & fees for the Blue Cash Everyday® Card from American Express, please click here.

The Amex EveryDay® Credit Card from American Express

The Amex EveryDay® Credit Card from American Express offers an intro APR of 0% for 15 months on purchases. After that, a regular APR of 12.99% - 23.99% variable will apply. Plus, cardholders earn 2x points at U.S. supermarkets, on up to $6,000 per year in purchases (then 1x), and 1x points on other purchases

Additional The Amex EveryDay® Credit Card from American Express benefits:

  • Introductory 0% for 15 Months on balance transfers, then a 12.99%- 23.99% variable APR will apply
  • $0 annual fee
  • $0 balance transfer fee.
  • 20% extra points when you use your card 20 or more times on purchases in a billing cycle
  • Payment flexibility

What to look out for. The Amex EveryDay® Credit Card from American Express does not offer a welcome bonus or rewards on the purchases you make with the card.

To see rates & fees for The Amex EveryDay® Credit Card from American Express, please click here.

Chase Slate®

With the Chase Slate®, you can enjoy a 0% Intro APR on Purchases for 15 months, then an APR of 16.74% - 25.49% variable applies. Additionally, the card offers a 0% Intro APR on Balance Transfers for 15 months, then 16.74% - 25.49% variable APR. You also get a Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.

Additional Chase Slate® benefits:

  • $0 annual fee
  • No penalty APR
  • Free credit score access through Credit Journey

What to look out for. The Chase Slate® does not offer a rewards program.

Wells Fargo Cash Wise Visa® card

The Wells Fargo Cash Wise Visa® card offers a straightforward approach to earning rewards, as well as an intro APR of 0% intro APR for 15 months on purchases and qualifying balance transfers on purchases. After that, a regular APR of 14.49%-24.99% (variable) applies.

Cardholders earn unlimited 1.5% cash rewards on purchases. The card also offers a Earn a $150 cash rewards bonus after spending $500 in the first 3 months.

Additional Wells Fargo Cash Wise Visa® card benefits:

  • Intro APR of 0% for 15 months on qualifying balance transfers on balance transfers, then 14.49%-24.99% (variable) APR
  • $0 annual fee

What to look out for. The Wells Fargo Cash Wise Visa® card charges a balance transfer fee of either 5%. After that, up to 5% for each balance transfer, with a minimum of $5.

Additionally, cash redemptions are only available in increments of $25 by phone or online, and in increments of $20 from a Wells Fargo ATM. You must have a Wells Fargo debit or ATM card to redeem rewards at a Wells Fargo ATM.

American Express Cash Magnet® Card – $150 Welcome Offer

American Express Cash Magnet® Card

Apply Now Secured

on American Express’s secure website

Terms Apply |  Rates & Fees

American Express Cash Magnet® Card

Regular Purchase APR
13.99%-23.99% Variable
Intro Purchase APR
0% on purchases for 15 months
Intro BT APR
N/A
Annual fee
$0
Rewards Rate
Unlimited 1.5% Cash Back on your purchases
Credit required
good-credit
Excellent/Good

Similar to the Wells Fargo Cash Wise Visa® card, the American Express Cash Magnet® Card – $150 Welcome Offer lets you earn unlimited 1.5% cash back on your purchases, as well as an intro APR of 0% on purchases for 15 months. After that, a regular APR of 13.99%-23.99% variable applies.

Cardholders also earn a $150 statement credit after you spend $1,000 or more in purchases with your new card within the first 3 months of card membership.

Additional American Express Cash Magnet® Card – $150 Welcome Offer benefits:

  • $0 annual fee
  • Payment flexibility
  • Car rental loss and damage insurance
  • Complimentary ShopRunner membership

What to look out for. With the American Express Cash Magnet® Card – $150 Welcome Offer, you can only redeem rewards as statement credits.

To see rates & fees for the American Express Cash Magnet® Card – $150 Welcome Offer, please click here.

PNC Core® Visa® Credit Card

The PNC Core® Visa® Credit Card is a basic card that offers an Introductory 0% APR on purchases for the first 15 billing cycles following account opening, then a 11.74%-21.74% variable APR will apply. The card also offers a 0% introductory APR for the first 15 billing cycles following account opening when the balance is transferred within the first 90 days following account opening, then a 11.74%-21.74% variable APR.

Additional PNC Core® Visa® Credit Card benefits:

  • $0 annual fee
  • Earn a $100 bonus after you make $1,000 in the first 3 billing cycles following account opening

What to look out for. While the PNC Core® Visa® Credit Card offers a sign-up bonus, it does not offer rewards on the purchases you make using the card.

Truly Simple® Card from Fifth Third Bank

The Truly Simple® Card from Fifth Third Bank comes with limited benefits and has no rewards program; however, cardholders can enjoy a 0% introductory APR for the first 15 billing cycles after your account is opened on purchases, then a regular APR of 11.99% - 22.99% variable. The card also offers a 0% introductory APR for the first 15 billing cycles after your account is opened on balance transfers, then 11.99% - 22.99% Variable APR.

Additional Truly Simple® Card from Fifth Third Bank:

  • $0 annual fee
  • No penalty APR
  • Access to Mastercard Global Service and Mastercard Priceless Cities

What to look out for. This card is limited to residents of Ohio, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Tennessee and West Virginia.

BB&T Bright Credit Card

The BB&T Bright Credit Card is a no-frills card that offers a 0% intro for 15 months on purchases, then 12.74% - 21.74% variable APR, as well as a 0% intro for 15 months on balance transfers, then a 12.74% - 21.74% variable APR.

Additional BB&T Bright Credit Card benefits:

  • Access to discounts through BB&T Deals
  • Travel and emergency assistance services
  • Auto rental collision damage waiver

What to look out for. The BB&T Bright Credit Card comes with balance transfer fees of 3% or $10 minimum on transactions greater than $10. Additionally, the card is restricted to residents of Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Washington, D.C. and West Virginia.

Visa® Platinum Preferred Rewards from APG FCU

Offered by the APG Federal Credit Union, the Visa® Platinum Preferred Rewards from APG FCU comes with a 0% intro APR for 15 months on purchases, then 12.49% - 17.99% variable APR.

The card also offers the following sign-up bonus: Earn 1,000 free Welcome points at sign up and 2,500 free Thank You points at first purchase.

Additional Visa® Platinum Preferred Rewards from APG FCU benefits:

  • 0% intro APR for 15 months on balance transfers, then 10.99% to 17.99% variable APR
  • $0 annual fee

What to look out for. To qualify for this card, you must be a member of APG FCU and live, work, worship, attend school or volunteer in Harford or Cecil County in Maryland or certain areas in Middle River, Maryland.

KeyBank Latitude® Credit Card

The KeyBank Latitude® Credit Card offers a 0.00% Introductory APR for the first 15 monthly billing cycles on purchases. After the intro period ends, a regular APR of 9.99% - 19.99% variable applies.

Additional KeyBank Latitude® Credit Card benefits:

  • 0.00% Introductory APR for the first 15 monthly billing cycles on balance transfers, then 9.99% - 19.99% Variable APR
  • $0 annual fee

What to look out for. This card is restricted to applicants who live in Alaska, Colorado, Connecticut, Florida, Idaho, Indiana, Maine, Massachusetts, Michigan, New York, Ohio, Oregon, Pennsylvania, Utah, Vermont and Washington. The card also comes with a balance transfer fee of either $10.00 or 3% of the amount of each transaction, whichever is greater.

When is a personal loan better?

Being able to avoid interest charges on a large purchase can save you a lot of money. So, if you can apply for a 0% intro APR credit card that doesn’t charge an annual fee, that will most likely be your best bet. However, there are a few circumstances where a personal loan might be a better option:

  • You need a longer period of time to pay off a large purchase. Personal loans are considered installment loans, meaning you can borrow one lump sum that you pay off in fixed monthly payments over a specific time frame. Depending on your credit, there are personal loans available with interest rates as low as 4% and payment terms as long as 84 months.By contrast, 0% intro APR credit cards offer interest-free periods on purchases for up to 20 months. If you don’t pay your balance in full within that period, you may be subject to interest charges often ranging from 12% to 24%. Keep in mind, though, you can find cards with lower interest rates in this post.
  • You need cash instead of plastic. For example, you might need to pay a contractor who does not accept credit cards. If you need cash, a personal loan usually makes more sense than a credit card, since credit cards often charge cash advance fees and high interest rates on cash advances. The Chase Slate® card, for example, charges a cash advance fee of Either $10 or 5% of the amount of each transfer, whichever is greater, and comes with a cash advance APR of 26.74% Variable.

If you’re considering a personal loan, you can compare and apply using our personal loan comparison tool, which allows you to check interest rates and see what your chances of approval are without hurting your credit score.

The information related to the Chase Freedom®, Chase Freedom Unlimited®, Chase Slate®, Wells Fargo Cash Wise Visa® card and The Amex EveryDay® Credit Card from American Express has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information. 

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