Credit card debt is a big issue for most people. The more you charge to your credit card and don’t pay it off in full the more interest you will pay to use that card. However, with the right credit cards, you can avoid paying interest for up to 24 months and transfer your current credit card balance to a new credit card so you don’t have to pay interest. Here is our list of no-interest credit cards.
How Do No Interest Credit Cards Work?
No-interest credit cards work just like regular credit cards except that you don’t have to pay interest on your purchases or balance transfers for a certain period of time. No interest credit cards can start at 12 months and go up to 24 months.
The reason you want a no-interest credit card is so you can make purchases on your credit card interest-free for up to 24 months, in some cases, giving you more time to pay off your credit cards. Using a no-interest credit card works great for holiday shopping, working on paying off debt, or businesses that charge material upfront as they wait for customers to pay their bills.
8 Best No Interest Credit Cards
Best No Interest Credit Cards For Balance Transfers
These are the credit cards that charge no interest when you transfer your credit card balance to a new card. These cards are best for those who have a large debt and need more time to pay it off. Use these credit cards so you can avoid paying interest on your current credit card by transferring your current balance to one of these credit cards. Here are the best no interest credit cards for balance transfers:
1. Discover It Cash Back
Pros
- ✅ No-interest for 14 months on purchases and balance transfers
- ✅ 5% cashback on everyday purchases (up to $1,500) each quarter at such places like Amazon, grocery stores, restaurants, gas stations and when you pay using PayPal
- ✅ 1% cashback on all other purchases.
- ✅ Discover will automatically match all the cashback you’ve earned at the end of your first year.
- ✅ No annual fee
Cons
- ❌ Requires Good – Excellent credit (690-850)
2. Citi Double Cash card
Pros
- ✅ No-interest on balance transfers for 18 months
- ✅ Earn cash back twice! Earn unlimited cash back on every purchase then as you pay for those purchases you earn an additional 1% cashback on those credit card payments.
- ✅ No annual fee
Cons
- ❌ No sign-up bonus
- ❌ No 0% APR for purchases
- ❌ $25 minimum redemption
- ❌ Requires Excellent Credit (720-850)
3. U. S Bank Visa Platinum Card
Pros
- ✅ Introductory no-interest on purchases and balance transfers for 20 billing cycles
- ✅ No annual fee
- ✅ Add to your digital wallet for convenient payments
Cons
- ❌ No sign-up bonus
- ❌ No cashback rewards or points
Best No Interest Credit Cards For 18 Months
Here is a list of the best credit cards that charge no interest for longer than a year with most being 18 months and even 24 months
4. Chase Freedom Unlimited
Pros
- ✅ No-interest for 15 months
- ✅ $200 bonus after you spend $500 on purchases within the first 3 months.
- ✅ Earn 5% on travel purchased through chase Ultimate Rewards.
- ✅ Earn 3% on dining at restaurants, including takeout and eligible delivery services like Doordash.
- ✅ 3% on drugstore purchases.
- ✅ 1.5% on all other purchases
- ✅ Cashback rewards do not expire.
- ✅ No annual fees
Cons
- ❌ Requires Good or Excellent credit (690-850)
- ❌ Has a foreign transaction fee
5. BankAmericard Credit Card
Pros
- ✅ No-interest for 18 billing cycles on purchases and for any balance transfers made in the first 60 days.
- ✅ No annual fee
- ✅ Overdraft protection
Cons
- ❌ No sign-up bonus
- ❌ No cashback rewards or points
6. Citi Diamond Preferred Card
Pros
- ✅ No-interest for 18 months on purchases and balance transfers
- ✅ No annual fee
- ✅ Identity theft solutions
- ✅ Purchase protection
Cons
- ❌ No sign-up bonus
- ❌ No cashback rewards or points
7. American Express Blue Cash Everyday
Pros
- ✅ No-interest for 15 months on purchases
- ✅ Earn $250 after you spend $1,000 in purchases within your first 3 months
- ✅ 3% cashback on your first $6,000 of eligible purchases per year at supermarkets
- ✅ 2% cashback at gas stations
- ✅ 1% cashback on all other purchases.
- ✅ Global assist when traveling
- ✅ Purchase Protection
Cons
- ❌ Requires Excellent to Good Credit
8. Amazon Prime Store Card
Pros
- ✅ No-interest for 6-24 months on qualifying purchases when you make equal monthly payments
- ✅ 5% back on Amazon purchases with Amazon Prime membership
- ✅ Extra 5-15% bonus rewards on rotating Amazon Categories on top of your everyday 5% back.
- ✅ Can apply if you have fair credit
- ✅ No annual fee besides Prime Membership
Cons
- ❌ Amazon Prime Membership $119 per year
- ❌ Only for Amazon purchases
- ❌ Deferred Interest if you miss a payment or don’t pay in full at the time of no-interest period ends
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| Credit Card | No Interest Offer |
| Amazon Prime Store Cards | 6-24 Months |
| American Express Blue Cash Everyday | 15 Months |
| BankAmericard | 18 Months |
| Chase Freedom Unlimited | 15 Months |
| Citi Diamond Preferred | 18 Months |
| Citi Double Cash | 18 Months |
| Discover It | 14 Months |
| U.S Bank Visa Platinum | 20 Months |
How Can I Apply For A No Interest Credit Card?
In order to apply for a no-interest credit card, you will need to have good to excellent credit. Lenders want to give you the best perks such as paying no interest so they want to know you will pay your bills on time and be less of a risk for them. If you have bad credit and want to get a no-interest credit card we suggest that you fix your credit before you apply, as you have a high chance of getting denied.
Related: What Is A Good Credit Score?
If you are a business owner who wants to apply for no-interest credit cards and don’t have any business credit, lenders will use your personal credit to determine your creditworthiness. If you have bad personal credit you will need to increase your credit score before you apply.
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Related: How To Start Building Business Credit
There is more than just a good credit score needed to qualify for a no-interest credit card, lenders also look at your income and other personal and financial information before they make their decision. Make sure you are paying your bills on time and keeping your debt utilization below 10% for the best chances to get approved. If you have good to excellent credit 661-780 then you check out our list of best no interest credit cards below.
Related: How Long Do Late Payments Stay On Your Credit Report?
Should I Close A No Interest Credit Card After The No Interest Period Ends?
You should absolutely not close a credit card when your no-interest period ends. Closing any credit card will negatively impact your credit score as you will lose your credit history, on-time payment history, your credit limit will be lower and chances are your credit utilization from any debt will increase.
It’s very important to keep all your cards open for as long as you possibly can to show a good length in your credit history. The longer credit history you have the better benefits you’ll get from lenders such as cashback rewards, sign-up bonuses, travel incentives, price protection, less interest, and better terms on your loans.
Related: Best Credit Cards With Price Protection
If you have a high balance on a no-interest credit card and the no-interest period ends you can always transfer your balance to another no-interest credit card to avoid closing the card. View our favorite choices for credit cards that offer no-interest on balance transfers.
Related: Best Business Credit Cards With Rewards
What To Use Interest Free Credit Cards On
When you have good credit you can get access to credit cards that have high balances and a lot of these interest free from 12 months up to 18 months.
The question is, where is the best places to use these cards?
Real estate investors have discovered over the years, using interest free credit cards for renovations, fix and flips, or repairs results in larger profits.
The reason for this is, if you can get a credit card that has a $20,000 credit limit you can Improve the value of the property and sell the property or refinance it before you are required to pay the balance off.
Related: Best Business Credit Cards
If you went to a bank and applied for a $20,000 dollar loan you could pay $1500 or more in interest. The other hidden benefit to opening up a new credit card is the sign-up bonuses that are sometimes included with these cards. So by simply using a credit card to finance the renovations you could save thousands of dollars in interest, and earn a cash-back reward.
You can also use an interest-free credit card to fund your new business. When you start a business you have lots of expenses such as forming your business, buying a website domain, buying materials, hiring employees, buying office supplies, advertising and so much more.
Sign-up for a no-interest credit card to give you time to pay off these expenses and use the rewards from some of these rewards credit cards to make passive income.
Final Thoughts
No-interest credit cards can be an incredible benefit to have so you can make purchases and have time to pay them off. The best no-interest credit cards offer no-interest from 12 months up to 24 months. In order to qualify for no-interest credit cards, you will need to have good to excellent credit.
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