Which credit card should you apply for if you’re hoping to avoid interest temporarily? Here are some of the best options and a few reasons why you might want to fill out an application today.
Wells Fargo Reflect® Card: Long Intro APR Offer for Purchases
The Wells Fargo Reflect® Card offers one of the longest intro APR offers for purchases and balance transfers, and you don’t pay an annual fee.
Rewards: This card does not earn rewards.
Welcome bonus: This card does not offer a welcome bonus.
Intro APR offer: 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. A 18.24%, 24.74%, or 29.99% variable APR applies thereafter. Balance transfers made within 120 days qualify for the intro APR and a balance transfer fee of 5%, min $5 applies.
Annual fee: $0
Benefits and drawbacks: Assuming you qualify for the maximum intro APR extension, this card offers up to 21 months of no interest. That’s one of the longest intro APR offers you’ll find anywhere. You won’t earn rewards, but the Reflect does have up to $600 of cellphone protection (subject to a $25 deductible) when you pay your phone bill with this card.
Chase Freedom Unlimited®: Best for Category-Free Earning
The Chase Freedom Unlimited® lets you earn a base rate of 1.5% cash back on all your eligible purchases, and you’ll enjoy 15 months of an introductory APR. You can also access Chase Ultimate Rewards® and earn 5% cash back on any travel purchases made through Chase Travel℠, and rewards never expire.
Rewards: Earn 5% cash back on travel purchased through Chase Travel℠, 3% cash back on eligible dining and drugstores and 1.5% on all other purchases, plus an additional 1.5% cash back on the first $20,000 in purchases the first year.
Welcome bonus: Earn an additional 1.5% cash back on up to $20,000 spent in the first year, worth up to $300 cash back.
Intro APR offer: 0% introductory APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% – 29.24% applies. An intro transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater, applies in the first 60 days of account opening. After that, a fee of either $5 or 5% of the amount of each transfer applies.
Annual fee: $0
Benefits and drawbacks: If you prefer to earn a solid base rate of rewards on all purchases and don’t want to worry about signing up for bonus categories, consider the Chase Freedom Unlimited®. However, when it comes to intro APR offers, while 15 months is not a bad deal, if you really need to stretch your interest-free payments, you might want to consider a card with an even longer intro APR offer instead.
Blue Cash Preferred® Card from American Express: Best for Cash Rewards on Groceries and Gas
The Blue Cash Preferred® Card from American Express (Terms apply, see rates & fees) lets you benefit from an introductory APR on purchases and balance transfers and rack up considerable rewards along the way. Check out this credit card to earn exceptional rewards on U.S. supermarket spending and transit.
Rewards: Earn 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more) and 1% cash back on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
Welcome bonus: Earn a $250 statement credit after spending $3,000 in eligible purchases within the first 6 months.
Intro APR offer: 0% introductory APR for 12 months on purchases and balance transfers requested within the first 60 days of account opening, followed by a variable APR of 19.24%-29.99% variable. A balance transfer fee of $5 or 3%, whichever is greater, applies.
Annual fee: $0 intro annual fee for the first year, then $95
Benefits and drawbacks: In terms of interest savings, new cardholders are eligible for a solid introductory APR period. While the card does have an annual fee, you should weigh that against your rewards-earning potential.
The Blue Business® Plus Credit Card from American Express: Best Business Card for Flexible Rewards
If you want to save money with an introductory APR and earn flexible rewards, even though it’s a business card, The Blue Business® Plus Credit Card from American Express (Terms apply, see rates & fees) can also be a compelling card to consider.
Rewards: Earn 2 Membership Rewards points per dollar on everyday business purchases such as office supplies or client dinners up to the first $50,000 in purchases per year, then 1 point per dollar on all other purchases.
Welcome bonus: Earn 15,000 Membership Rewards points after spending $3,000 in purchases in the first 3 months of account opening
Intro APR offer: 0% intro APR on purchases for 12 months from the date of account opening, then a variable rate of 18.49% – 26.49% applies
Annual fee: No annual fee
Benefits and drawbacks: The Blue Business® Plus Credit Card from American Express has a lot going for it. It has no annual fee, and you’ll earn 2 Membership Rewards points per dollar on everyday business purchases such as office supplies or client dinners up to the first $50,000 in purchases per year, then 1 point per dollar on all other purchases. American Express Membership Rewards are quite flexible, with redemption options including transferring points to travel partners, booking travel through the Amex portal and covering charges on your card.
Plus, you’ll get what you came here looking for: a 0% intro APR on purchases for 12 months from the date of account opening, then a variable rate of 18.49% – 26.49% applies. If you’re looking for a business credit card to finance a big-ticket item and earn flexible rewards, the Blue Business Plus deserves serious consideration.
