9 Best Interest Free Credit Cards of May 2022 | 0% APR for up to 21 Months

Credit cards offering low interest can help reduce the amount you pay in interest. Many cards today offer a 0% APR (no interest credit card) for a year or more. Here we list the best interest free credit cards for both balance transfers and purchases, which we update monthly.

May 2022 Update on Interest Free Credit Cards

The landscape for credit cards that offer an interest free introductory period remained stable last month. There were no major changes to balance transfer fees or 0% APR intro periods. We did add the U.S. Bank Cash+ Visa Signature Card to our list due to its excellent combination of 0% APR, signup bonus, cash back rewards and no annual fee.

We have seen the regular APR on most cards rise. So far, however, the rising rates haven’t affect the no interest intro offers. Finally, always have a plan for your debt when the promotional rate ends. As the CFPB warns, you can end up paying a lot of interest once the 0% intro APR expires.

Best No Interest Credit Cards

The following 0% APR credit cards offer no interest on balance transfers, purchases or both.

Citi Custom Cash Card–Editor’s Pick

0% for 15 months + Cash Back + Signup Bonus

A new card from Citi, the Citi Custom Cash Card competes with other 5% cash back cards such as the Chase Freedom Unlimited. The big difference is that Custom Cash doesn’t have rotating categories. Instead, you can earn 5% cash back each month on up to $500 in purchases in one of several categories.

The big deal is that you don’t have to pick the category in advance. Citi simply applies the 5% cash back to the eligible category in which you’ve spent the most each month. The result is a 5% cash back card without the hassle of signing up every quarter or the limitation of just one or two categories qualifying each quarter.

All other purchases earn 1% cash back. There is no annual fee and a 0% APR on both purchases and balance transfers. Good to excellent credit is required to qualify for the card.

• 0% Intro APR: The card offers a 0% intro APR on both balance transfers and purchases for 15 months, after that the variable APR will be 16.74% - 25.74%.
• Balance transfer fee: $5 or 5% of the amount of each transfer, whichever is greater.
• Signup Bonus: $200
• Annual Fee: $0

U.S. Bank Visa® Platinum Card

The U.S. Bank Visa® Platinum Card leads the pack among 0% balance transfer cards. It currently offers 0% interest on both purchases and balance transfers for 20 billing cycles. There is a balance transfer fee of 3% of the amount of each transfer or $5 minimum, whichever is greater, but no annual fee

• 0% on balance transfers: 20 billing cycles
• Balance transfer fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
• 0% on purchases: 20 billing cycles
• Signup Bonus: None
• Annual Fee: $0

Citi Diamond Preferred Card

The Citi Diamond Preferred Card is known for one thing, a long 0% APR offer. It currently gives new cardholders a 0% APR for 21 months on balance transfers and 12 months on purchases. It’s one of the longest available today from any credit card. It charges no annual fee. The downside to this card is that it offers no rewards, other than the signup bonus.

• 0% Intro APR: The card offers a 0% intro APR on balance transfers for 21 months from the date of the first transfer and on purchases from the date of account opening. After that the variable APR will be 14.49% - 24.49%.
• Balance transfer fee: $5 or 5% of the amount of the transfer, whichever is greater
• Annual Fee: $0

Chase Freedom Unlimited

The Chase Freedom Unlimited is designed for those looking for a long 0% APR offer on purchases and excellent cash back rewards. In addition, Chase recently added 0% balance transfers to the card. There’s no annual fee, free access to your FICO score, and a signup bonus.

• 0% on balance transfers: 15 months
• Balance transfer fee: 3% of the amount of each transfer (minimum $5 fee) on transfers made within 60 days of account opening.
• 0% on purchases: 15 months
• Signup Bonus: $300
• Annual Fee: $0

Citi Double Cash Credit Card

0% on balance transfers for 18 months + cash back

I’ve carried the Citi Double Cash Credit Card for years. It’s been my everyday card and even put our children through college. The cash back rewards on two college tuitions were amazing.

It pays 2% cash back on all purchases–1% when you buy and 1% as you pay your credit card bill. Pay in full every month as we do, and you earn the 2% right away.

As for its no interest offer, you get a 0% APR for 18 months on balance transfers made within four months of account opening. After that, the variable APR will be 14.74% - 24.74%. Note that the 0% offer does not apply to purchases. There is no annual fee for this card.

It’s one of the highest rated cards on the site.

• 0% on balance transfers: 18 months
• Balance transfer fee: 3% of each transfer (minimum $5) completed within the first 4 months of account opening.
• 0% on purchases: None
• Signup Bonus: None
• Annual Fee: $0

U.S. Bank Cash+ Visa Signature Card

The U.S. Bank Cash+ Visa Signature Card is one of the few cards that comes with a 0% APR on qualifying balance transfers and purchases for 15 months and excellent cash back rewards. It’s also one of the few to come with a cash signup bonus.

• 0% on balance transfers: 15 months
• Balance transfer fee: 3% of each transfer amount, $5 minimum
• 0% on purchases: 15 months
• Signup Bonus: $200
• Annual Fee: None

Blue Cash Preferred® Card from American Express

The Blue Cash Preferred® Card from American Express doesn’t have the longest 0% APR on our list. In addition, it charges an annual fee. In return, however, you get excellent cashback rewards. These include a welcome bonus and up to 6% cashback (subject to spending caps as noted below).

• 0% on balance transfers: None
• Balance transfer fee: None
• 0% on purchases: 12 months
• Signup Bonus: $300
• Annual Fee: $95

Blue Cash Everyday Card from American Express

The Blue Cash Everyday Card from American Express comes with a 15 month 0% offer. In addition to the cash back and bonus cash rewards, you’ll get a 0% introductory rate for 15 months on purchases. There is no annual fee. Here are the details:

• 0% on balance transfers: None
• Balance transfer fee: None
• 0% on purchases: 15 months
• Signup Bonus: $200
• Annual Fee: $0

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card combines cash back and an early spend bonus with a solid 0% intro APR on purchases and balance transfers for 15 months; 15.24% - 25.24% variable APR after that. It made our list of one of the best 1.5% cash back cards as well.

• 0% on balance transfers: 15 months
• Balance transfer fee: 3% of the amount of each transfer during the first 18 months of account opening
• 0% on purchases: 15 months
• Signup Bonus: $200 after spending $500 in the first 3 months of account opening.
• Annual Fee: $0

How to Choose a No Interest Credit Card

What will you use the card for? No interest cards offer a 0% APR on balance transfers, purchases, or both. With balance transfers, you can transfer one or more high-interest credit card balances onto the interest-free credit card and pay no interest during the introductory period. This helps you pay down your debt faster.

If your goal is to make a big purchase instead of paying off debt, you’ll want to pay attention to the introductory period on purchases. Sometimes, 0% APR for purchases ends before the balance transfer intro period.

What are the perks? Does the card offer a signup bonus or cash back rewards? Also pay attention to the cash back rewards details. While one credit card might boast a 5% cash back, it’s likely limited to certain purchases, like gas or groceries so you’ll have to use your card for those spending categories to get 5% cash back. Plus, the categories usually change a few times a year and it can be a hassle to keep up with the rotating categories.

A card offering 1.5% or 2% cash back on all purchases might be a better fit for you. One last note regarding cash back, check if there is a limit to how much cash back you can get. Some cards offer unlimited cash back while others have a spending cap.

Does the card have an annual fee? This doesn’t have to be a deal-breaker. If you do the math, sometimes the fee is worth paying if the cash back savings allows you to earn your money back and more.

Is there a balance transfer fee? If there is a fee, it’s usually 3% of the balance you’ll be transferring. Remember, that 3% is still way better than paying the 15% or 20% APR you may be currently paying on your credit card balance every month.

What is the APR after the promotional period ends? The 0% APR won’t last forever so you want to make sure you pay off your credit card balance before the promotional period ends, otherwise, you’ll be back where you started, paying a high APR on whatever balance is left. Some credit cards offer 0% for up to 15 months, and there are a few cards that extend the 0% offer for 18 months or even 21 months on balance transfers and purchases.

0% APR Credit Cards FAQs