How to search for a 0% APR credit card
In today’s competitive financial market, credit card companies are falling over themselves to get your business. Hence, their 0% introductory rates. They aim to lure you in and then keep you forever more.
It gives you a good opportunity to take advantage of the great deals on offer. While you can’t get a 0% interest rate for life, you can get it for up to one year (though six months is more common).
Help us help you
We can help you find a credit card with a long 0% introductory period, whether it’s a balance transfer or an everyday card you’re after.
We are working with uSwitch.com to provide you with a free and impartial comparison of all the credit cards on the market. That’s a lot of credit cards. Hundreds, in fact.
Comparing 0% deals on credit cards
It depends on what you plan to use your card for as to what you should get. There are two types of 0% credit cards to consider:
- 0% on balance transfers. Move your credit card debt to a new card that offers an interest-free period of up to 12 months
- 0% on purchases. Pay no interest on your purchases for up to ten months.
When you compare cards, check out the typical APR too, as when your 0% deal runs out you don’t want to be hit with an exorbitant rate. Unless you’re planning on getting another card when the interest-free period ends.
The low down on balance transfers
If you have a big debt on your card, transferring the balance to a 0% rate is a good move. You won’t have to pay interest for up to 12 months, so you can start paying off the balance instead of just the interest.
Some cards charge a fee for transferring your balance, which is normally a percentage of your debt. It’s usually capped at about £49. When you compare cards on buy.co.uk, we include any fees in the calculations. So, don’t worry. You won’t be hit with any unexpected charges.
0% APR on purchases, did you say?
Yes, that’s right. You can shop now and pay no interest until the introductory 0% APR ends. This is not an opportunity to go crazy with your credit card, but could be useful if you need money straight away. It’s basically an interest free loan.
You should aim to pay your balance off before the interest-free period ends. Otherwise you will be hit with the card’s standard APR and the interest might not be pretty, especially if you get used to the 0% rate. Otherwise, look for a card with a low standard rate.
Start comparing credit cards with 0% deals
Complete an online comparison and we will give you a helping hand deciding what to get. In about five minutes you will see all the best cards to match your individual needs.