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0% APR Credit Card Offers
For purchases or balance transfers, and in some cases for both, 0% APR credit card offers allow you to carry a balance for a set time period without paying interest. In essence, these types of credit cards allow you to obtain an interest free loan if you pay off your balance in full before the 0% term expires. Each individual credit card that falls under this category has a different pricing structure after the 0% period, so make sure that the variable or fixed rate is something that you are comfortable with prior to applying, especially if you anticipate not being debt free after the 0% APR credit card term completes. Over the past two years, we have seen many issuers change lengths of interest free periods, so taking advantage of terms that last over a year is very advantageous.
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- 0% intro APR on purchases and balance transfers for 15 months, then the variable standard purchase APR of 10.99% - 20.99%*
- 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply*
- Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
- Discover is ranked #1 in customer loyalty--16 years in a row! (2012 Brand Keys Customer Loyalty Engagement Index report)
- 24/7 access to a U.S.-based Account Manager within 60 seconds
- $0 Fraud Liability plus mobile and email fraud alert options
- Great rewards with no annual fee, no rewards redemption fee, and no additional card fee
- *Click apply to view rates, fees, rewards, limitations and other important information
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Intro APR
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Intro APR Period
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APR
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Annual Fee
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Balance Transfer
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Minimum Credit Required
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0%*
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15 months on purchases & balance transfers*
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10.99% - 20.99% (Variable)*
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None*
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Yes*
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Excellent
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0% APR Credit Cards vs. Charge Cards
What is the difference between a 0% APR credit card and a charge card? In short, a charge card requires you to pay your balance in full every month. Interest never accrues. Thus the term APR (annual percentage rate) does not apply. 0% APR credit cards operate under the premise that there is no interest accrual for a set time period. Once the term has ended, you will begin to accrue interest on the remaining balance and all new purchases that you make with the card. Additionally, an offer with a 0% introductory annual percentage rate allows you to pay off the balance over time where the charge card does not.
The most savvy consumers will typically carry a charge card and use it for all of their everyday expenses in order to earn points. They will use 0% APR credit cards as either short term loans for items that they need to pay for over time but are necessary immediately, or in cases when they are carrying a balance on another product and are looking for an interest free period to move their debt to in order to it off more quickly. If you elect to adapt this type of strategy, it's vital to make sure that you stay within your budget at all times. Don't buy things that you can't afford with charge cards because if you fail to make timely payments, you run the risk of losing the points you have accrued, and in some cases even pending points from the prior billing cycle. In general, it is not a good idea to use alternative methods of payment (other than points or personal checks) if you do not have the funds readily available to cover them. Unfortunately, emergencies and unexpected expenses always seem to pop-up out of nowhere especially at inconveneient times and a good way to cover yourself in the short term is with a 0% APR credit card.
Preserving Your 0% Rate
Once you have been approved for your new offer, it is mandatory to make timely payments and make sure that you are within your spending limit. Most banks in conjunction with advances in technology have made it very easy to pay your bills on time. If you have been awarded a 0% APR credit card and you do not pay your bill on time or spend too much money causing you to go over your credit limit, your interest free period may be stripped and terminated. We suggest that as soon as you get your Visa, MasterCard, Discover, or American Express in the mail that after activation you enroll in the issuer's online management program. It is also worth it to find out what types of payment methods are supported. In most cases, online payments and phone payment processing is available. Sometimes the latter comes with a fee and this makes it a less attractive option, yet more attractive than losing your 0% interest rate.
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