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Interest Free Credit Cards

Imagine a credit card that allowed you to buy what you wanted, have time to pay it back, yet never pay interest for the privilege of borrowing the money. Does this sound too good to be true? Yes, it does, but interest free credit cards do exist. Here is what you need to know about them… read more.

Interest Free Credit Card Table


Card Issuer Sort by IssuerSort by Issuer Brand  Sort by BrandSort by Brand Interest
Rate Sort by Interest RateSort by Interest Rate		 Interest
Free Sort by Interest FreeSort by Interest Free		 Annual
Fee Sort by Annual FeeSort by Annual Fee		 Transfer
Rate Sort by Balance Transfer Rate Sort by Balance Transfer Rate		 Compare Credit Cards
19.24%
per annum		 55 days
(up to)		 $24 5.99%

19.74%
per annum		 55 days
(up to)		 $280 5.99%
11.99%
per annum		 55 days
(up to)		 $55 2.99%
15.24%
per annum		 55 days
(up to)		 $89 3.99%
18.74%
per annum		 55 days
(up to)		 $49 5.99%
15.24%
per annum		 55 days
(up to)		 $89 3.99%
11.99%
per annum		 55 days
(up to)		 $55 2.99%
16.99%
per annum		 45 days
(up to)		 $0 5.99%
20.49%
per annum		 55 days
(up to)		 $229 3.9%
20.49%
per annum		 55 days
(up to)		 $149 2.9%
11.49%
per annum		 55 days
(up to)		 $49 0.99%
20.49%
per annum		 55 days
(up to)		 $89 2.9%
20.49%
per annum		 55 days
(up to)		 $250 4.9%
20.49%
per annum		 55 days
(up to)		 $149 2.9%
15.49%
per annum		 55 days
(up to)		 $65 2.9%
19.89%
per annum		 55 days
(up to)		 $79 2.9%
18.74%
per annum		 44 days
(up to)		 $48 0%
12.49%
per annum		 55 days
(up to)		 $58 0%
18.24%
per annum		 55 days
(up to)		 $87 7.99%
18.24%
per annum		 44 days
(up to)		 $0 7.99%
13.49%
per annum		 55 days
(up to)		 $79 0%

Interest Free Credit Cards (continued)

What Are Interest Free Credit Cards
Interest free credit cards, in most situations, are not interest free forever. These cards offer an introductory period of no interest. When that period is over, the card functions like a regular credit card, with an interest rate similar to other comparable cards.

Why do credit card companies offer interest free credit cards?
They do so to get your business. If you have a large balance on an existing card that has a high interest rate, you are going to be tempted to move that money to an interest free credit card. After all, that would give you some time to pay back the card without worrying about the interest you are earning.

How to Benefit from Interest Free Credit Cards

You can benefit from interest free credit cards by transferring balances to them from cards that have high interest rates. Even though the interest free period is not permanent, you can still save hundreds of dollars during the introductory period. Sometimes these introductory periods are as long as 18 months, and you can pay down quite a bit of your debt in 18 months.

You can also benefit from interest free credit cards when you need to make a larger purchase. Perhaps a major appliance has broken or you need to make a major repair to your home. If you can find a card offering a no interest period on purchases, you can make this purchase and not pay interest on it, even if you do not have the money to pay for it upfront.

Considerations when Shopping for Interest Free Credit Cards
Interest free credit cards can be a great tool to use, whether to help you pay down your debt or make large purchases. However, there are some considerations you need to make before getting one.

First, if you are going to transfer a balance to an interest free card, look for balance transfer fees. These may accrue interest while you are paying down the balance. It could still be worthwhile to get the card, but you will need to do a little figuring to decide if you will still save money. Also, make sure you are disciplined enough to avoid spending on your old card once you transfer the balance. If your goal is to lower your debt amount, clearing out an old card could be dangerous.

Keep in mind that failing to make a payment on your interest free credit card almost always means it will no longer be interest free. Find out what the interest rate will be, as sometimes the rate after the introductory zero percent period is quite high. If you can be disciplined to pay down the card on time each month and avoid spending on your other cards, an interest free card is a good way to save some money on your credit card balances.

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