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If you have credit card debt or need to make a big purchase, a low-interest credit card can be your salvation. Offering over a year of 0% APR to get rid of your debts, these cards are the best in the business, from waived fees to rewards and more. Transfer your balance and you’ll get some time to breathe and, we hope, a chance to get out of debt.
Best for balance transfers: Chase Slate®
The Chase Slate® is worth your attention because of one detail in particular: There’s no balance transfer fee for the first 60 days. It also comes with an excellent introductory APR offer: 0% Intro APR for 15 months on purchases and balance transfers, and then the ongoing APR of 12.99% - 22.99% Variable.
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The lack of balance transfer fee, along with the introductory APR, can lead to significant savings. Let’s say you’re transferring $10,000 and plan to pay off $575 a month. With the Chase Slate®, you’d only pay $11 to $20 in interest. Considering balance transfer fees generally run between 3% and 5%, that could add up to more than $300 in savings. Plus, the annual fee is $0, which means this card is easy on your bank account, especially for those who need to consolidate a tall pile of debt.
TIE – Low interest and rewards: Chase Freedom® and Citi®Double Cash Card
The Chase Freedom® is an excellent choice for folks with excellent credit who also need some time to get rid of debt. The card has an introductory interest rate of 0% for 15 Months on purchases and 0% Intro APR for 15 months on balance transfers, and then the ongoing APR of 13.99%-22.99% (Variable). You’ll also get 5% cash back on bonus categories that change every quarter, up to $1,500 spent per period; all other purchases earn a flat 1%. The card, which has a $0 annual fee, offers a great sign-up bonus, too: Earn a $100 Bonus after you spend $500 on purchases in your first 3 months from account opening.
The Citi®Double Cash Card provides a $0 annual fee, no hassle, high rewards, and 0% for 15 months on purchases and balance transfers, and then the ongoing APR of 12.99% - 22.99% Variable . You’ll earn 1% cash back on every purchase you make, then an additional 1% cash back when you pay them off. Plus, there’s no limit to the cash back you can earn. When it comes time to redeem, you can cash in your rewards for a statement credit, a gift card or a check in the mail. This is one of the Nerds’ favorite cash back cards on the market today, and hopefully it’s easy to see why!
Longest 0% APR period: Citi Simplicity® Card
The Citi Simplicity® Card’s one of our favorites because it treats debtors delicately all around. It has an introductory APR of 0% for 21 months on purchases and balance transfers, and then the ongoing APR of 12.99% - 22.99% Variable — the best in the business. It also comes with an annual fee of $0*, and forgoes late fees and penalty APRs. In other words, if you pay late, you won’t be slapped quite as hard with fees as you would with another card. Whether you’ve accidentally made a few late payments or need some time to get rid of your credit card debt, the Citi Simplicity® Card is a great option.
0% APR meets no fees meets rewards: Discover it®-New! Double Cash Back your first year
The Discover it®-New! Double Cash Back your first year has it all, whether you’re looking to shed debt or earn rewards:
- 0% on purchases for 6 months and 0% on balance transfers for 18 months, and then the ongoing APR of 10.99% - 22.99% Variable
- 5% cash back in rotating bonus categories, up to $1,500 spent quarterly
- No penalty APR or foreign transaction fee; first late payment fee is forgiven
- Annual fee of $0
- Extra perks like purchase, warranty and return protection
The Discover it®-New! Double Cash Back your first year is a great way to earn rewards and work toward debt freedom.