The customer experience ratings are based on regular research among customers. The product ratings look at the costs and benefits of credit cards.įive-star-rated 0% purchase credit cards have an interest-free period of at least 12 months and a maximum APR of no more than 26.4% – so the sting in the tail is not too nasty if you haven’t paid off your balance by the time the offer period comes to an end. Our ratings are compiled by the independent research group Fairer Finance. Higher monthly repayments will clear the debt – and the worry – quicker.įailing to clear the debt can lead to a cycle where a balance-transfer deal would need to be found at the end of each offer period to avoid charges. Reducing the debt over the interest-free period will make it easier to clear it before charges can mount up.Īnyone splashing out £2,300 on a 0% purchase card deal of 23 months, for instance, would need to make monthly repayments of £100 to clear the debt before interest charges kick in. The best way to pay off your credit card balanceĪnyone who builds up a large credit card balance should plan carefully to repay the debt to avoid potentially high interest charges when an offer period ends. If you do get to the end of your introductory period before you have cleared your balance, it’s worth looking into lining up a 0% balance-transfer card – so you can give yourself some more interest-free breathing space. Paying off the debt before the introductory 0% purchase offer ends is essential to avoid interest. Some cards also offer balance-transfer deals, but look closely at the charges – which can be about 3% when you take up the offer.
Interest will likely be charged from day one and can soon mount up, leaving a nasty surprise for users who assumed they were paying no interest. That means people spending on the card can repay the cost over several months and incur no charges.īut beware of taking out cash on a card. Some levy no interest on purchases for almost two years.
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How to get the most from a 0% purchase credit cardĬredit cards can offer the convenience of an easy way to pay for goods and services – as long as the money is paid back in full by the due date.īut even for those who need to borrow money for the longer term, credit cards can be a cheap or free way to do so. Should you use a ‘buy now, pay later service’ or a credit card? We explain the difference. Looking to consolidate your credit card debt? Find out more here. It could mean savings of about £200 for every £1,000 spent on a card.īelow, we give our top choices for 0% purchase cards. So anyone planning to use their plastic for some serious spending should consider a 0% purchase card. This article may contain affiliate links that can earn us revenue* A 0% interest purchase credit card could save you a fortune in interest charges Best credit cards for 0% spendingĬredit cards typically levy interest of more than 20% a year. Looking to reduce your credit card interest? Check out our guide to the best balance transfer cards.
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