Personal Finance

Here’s How to Stop Paying Credit Card Interest

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In an ideal world, credit cards earn us free trips and free hotel stays, and save us major money on everyday purchases. Sometimes, though, their best use is getting us through leaner times.

The downside of this usage is carrying a balance with expensive interest charges each month. One way to stop the pain is by switching to a card with a solid 0% APR offer.

A new entry to the market — the Wells Fargo Reflect, which you can learn more about here and below — can help ease you out of credit card debt by giving you a big window to pay things off.

You don’t have to entirely give up the idea of credit card rewards for a 0% offer, either, depending on how long you need. If you’re looking for a great zero-interest offer, here are our top picks this season:

Wells Fargo Reflect

Why we like it: For halting interest charges, it’s hard to beat the introductory offer on the Wells Fargo Reflect. You automatically get 18 months at 0% APR from account opening, and you’ll enjoy a three-month extension simply by making on-time minimum payments. Learn more.

What to know:

Wells Fargo Reflect
Wells Fargo
  • 21 months of 0% APR on purchases and qualifying balance transfers with minimum monthly payments.
  • Balance transfers made within 120 days qualify for the introductory rate.
  • Up to $600 of cellphone protection when you pay your phone bill with the card.

Note: The introductory fee for balance transfers is the greater of $5 or 3%. After that, it is up to 5% per balance transfer.

Citi Diamond Preferred

Why we like it: The Citi Diamond Preferred card is a good choice for people transferring a balance, thanks to the introductory 0% APR on balance transfers for the first 21 months. You’ll also get a full 12 months of 0% APR on new purchases.

What to know:

Citi Diamond Preferred
  • 0% introductory APR on balance transfers for 21 months, with a balance transfer fee of $5 or 5%, whichever is higher
  • 0% introductory APR on new purchases for 12 months
  • Free access to your FICO Score
  • No annual fee

Note: This card has a 3% foreign transaction fee, so plan accordingly for international travel.

U.S. Bank Visa Platinum

Why we like it: This card offers an incredibly generous introductory APR for both new purchases and balance transfers — 0% for 20 billing cycles.

What to know:

U.S. Bank Visa Platinum
U.S. Bank
  • 0% intro APR for 20 billing cycles on balance transfers.
  • 0% intro APR for 20 billing cycles on new purchases.
  • Up to $600 in cellphone insurance (with a $25 deductible) if you pay your phone bill with the card.
  • Flexible payment date.
  • No annual fee.

Note: This card has a balance transfer fee of 3% or $5, whichever is greater.

Capital One Quicksilver Cash Rewards

Why we like it: This is a great all-around credit card with 1.5% cash back on every purchase. It also offers a $200 cash bonus after you spend just $500 within the first three months of opening the account.

What to know:

Capital One Quicksilver Cash Rewards
Capital One
  • Get 1.5% cash back on every purchase — no limits, and no expiration on cash-back rewards for the life of the account.
  • Get a $200 statement credit after spending $500 on the card within the first three months.
  • Pay 0% APR on purchases within the introductory 15-month period.
  • No annual fee.
  • No foreign transaction fees.

Whatever you need in a credit card — whether it’s a balance transfer, reward points, cash back or a low interest rate — you can find it with our credit card search tool. Click here to search for the plastic that best fits your needs.

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