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11 min read 20.12.2021 743
Ibrahim Busari
Ibrahim Busari
Ibrahim is a fintech writer at AskWallet
Best 0% interest credit cards of 2022

Best 0% interest credit cards of 2022

Finding the right 0% interest credit card that meets all your needs can be a very daunting task. One that many people might shy away from because of the sheer amount of info provided to potential cardholders when applying for a 0% interest credit card. In this AskWallet blog post, we will answer the most important questions on the minds of potential cardholders i.e How do you apply for one? Are there monthly service fees?

Have you ever purchased something with a credit card, only to realize the following month that you can’t make the minimum payment? If so, you are not alone; it’s an all-too-common problem that millions of people face every year. So how do you avoid this situation? If you’re in the market for a new credit card, try to find one with zero percent interest. After all, why borrow money at high-interest rates when there are credit cards available that give you 0% APR on balance transfers and purchases?

What is a zero percent credit card?

Depending on where you are looking at zero percent credit cards, they might go by different terminologies such as 0% APR credit cards, zero-interest credit cards. They shouldn’t be misconstrued for being different types of credit cards as they all mean the same thing. 

So what are zero percent credit cards? Well, they are a way for cardholders to get a temporary loan reprieve from interest payments. However, the cardholder will have to pay back the sum loaned slowly over a previously agreed-upon time with the bank. 
The annual percentage rate (APR) of a credit card pretty much defines how much interest is charged on a particular credit card over the repayment period including expenditures and transfers.

In addition, the interest doesn’t accrue over time if you pay off the amount loaned fully every month. However, if the amount loaned isn’t paid in the time frame agreed upon every month then APR can be added to the cardholder's balance. Most card users are familiar with the penalty APR which is added if the cardholder cannot pay the loaned amount in 60 days. 

However, the APR for zero percent credit cards is 0%, however, this APR is only applied in an introductory period which usually runs about 10 - 15 months. 

Best Zero percent credit cards 

There are a number of zero percent credit cards out there and it would take forever for you to go through every single one and find the best. So, our team of experts has taken their time and reviewed every 0% credit card offer that is available on the market. Check our top picks featured below and compare to find the best credit card for you: 

Capital One Quicksilver Cash Rewards Credit Card

If you are looking for a 0% credit card with tons of benefits including a cashback bonus scheme and a decent intro APR, then you might be looking at the right card for you. The Capital One Quicksilver Cash Rewards Credit Card offers cardholders a 1.5 % cashback on all purchases made with the card with no restrictions. 

The best feature of this card is definitely its intro APR which is 0% for 15 months. This is a great deal for anyone looking to get a zero percent interest card. However, after the grace period is over users can expect an APR of about 15.49% - 25.49%. This varies depending on a number of factors including how much of a risk is the bank taking and what kind of cardholder were you during the introductory period. 

When you consider that there are no yearly fees or international transaction fees, you have the possibility for a low-cost, no-hassle addition to your wallet.

Capital One SavorOne Cash Rewards Credit Card

The Capital One SavorOne Cash Rewards Credit Card is a multifunctional credit card with a 15 monthly introductory APR of 0%. What makes this 0% interest credit card multifunctional is that it can be used for small and large payments online or in person. However, keep in mind that after the grace period is over, the holders of this credit card will have to pay a regular APR which could be different for every cardholder. In addition, the credit card comes with cashback features that can be redeemed. Users can get cashback or points when they spend money at restaurants, go shopping, pay for streaming services, and others. 


Thinkmoney is a fintech company providing a number of financial services including credit cards and loans. The main product that the company offers is a managed bank account designed to help individuals manage their funds. 

Thinkmoney provides a budgeting program to help its users manage their money. However. Their budgeting program splits the users' money into two separate accounts: one which is set up for expenses such as bills, and the other for everyday spending. Keep in mind that only people over the age of 18 can create an account with thinkmoney. In addition, thinkmoney doesn’t carry out any credit check throughout the application process. Also, thinkmoney isn’t insured by the FSCS. 

  • Thinkmoney is very straightforward and the rate you see is the rate you get when you have accepted a line of credit. 
  • You have access to your account online from your mobile device as well as alerts for expenses and money coming into your account.
  • This credit card might be very useful for users with bad credit who have a harder time getting a line of credit from other financial institutions. 
  • Users will get the same interest rate on every transaction made with a credit card. 
  • Thinkmoney has a quick turnout on the application. The company has been quoted saying they have a turnout period of 60 seconds. 
  • Thinkmoney takes a lot of risk by giving people with bad credit scores which interns make the APR one of the highest on the market
  • If you have never had a line of credit before then thinkmoney isn't the right credit card for you

What to consider when getting your Think money credit card?

Based on the information we have already provided above, you might already be thinking the Thinkmoney credit card might be the right one for you. However, we will have to tell you to hold your horses as there is more to consider when choosing a credit card. Let's take a look below at some of the things you should consider: 

Rates of interest

Whenever you are considering getting a credit card, the interest rate is one of the most important things you should be on the lookout for. In most places online it will be depicted as APR. The interest rate on credit cards can and will be charged on outstanding lines of credit that a cardholder has carried over from one month to another. However, if a cardholder pays their outstanding debts before the end of the grace period every month, then you will not have any interest to pay.

Limitations on credit

Credit limits are also an important thing to consider when choosing a credit card as they will determine the amount of credit you can have at your disposal. However, most people with good credit scores will get better credit limits but if your credit score is below average, you might have to live with getting a lower credit limit or look at other credit card options. 


Every card issuer has its own comprehensive lending criteria you would have to meet before the issuer can provide you with a line of credit. In this day and age, there are many credit card eligibility checkers on the internet that will let you know which credit card you will be approved for and which you might have a higher probability of getting a line of credit. 

Benefits and perks

Although they might not be the most important issue to consider when choosing a credit card, rewards might be a way to maximize the potential of the credit card. Different credit cards provide different rewards and perks. The most popular perks and rewards include cash back rewards, air miles, and many more! 

As the Think money credit card is a credit builder card, we are going to talk about some of the advantages and disadvantages of a credit builder card.

Pros and cons of 0% APR credit cards

Thus far, the whole concept of 0% APR credit cards seems very easy and quick to grasp. However, there are significant aspects of this type of credit card that you might not be aware of. Not only is it critical to understand how these credit cards function but also to weigh their pro and cons which include: 

  • Being able to avoid paying APR on expenses made on a credit card could potentially save you a lot of money in interest costs in the long run. 
  • If you have been a good cardholder and have paid off your loan every single month during the introductory period, the bank might reduce your monthly payments
  • Also, owning one of these 0% interest credit cards might be responsible for debt management which could help you improve your credit score. 
  • Some credit cards allow users to transfer debt from one card to another and [ay them off with different cards. Such debt includes personal loans, student loans, and others.
  • If you fail to make a payment on your new 0% APR card, the issuer may consider it a breach of the conditions of the promotional offer and begin charging the normal APR immediately.
  • Using a credit card with a 0% APR to transfer a big debt might influence your credit utilization (how much of your available credit you're presently using), which can lead to a drop in your credit score. Fortunately, by continuing to pay down your transferred debt, you may increase that percentage.
  • Most credit card companies impose a balance transfer fee, which is generally 3% or 5% of the transferred amount.

We advise users that you should never look at 0% APR credit cards, whether you are using it to make purchases or debt transfer, as a quick solution for your finances. Remember that to get the maximum benefits out of your card, you must fulfill the agreement you have signed with the bank. So, try not to default on payments a sleep paying your regular monthly payments in order to pay off your debt before the into period comes to an end. 

Who should get an introductory APR credit card?

Is it a smart idea to get a credit card with a 0% introductory APR offer? If you find yourself in any of the following circumstances, the answer might be yes.

Are you about to make an important purchase? Perhaps you need to replace a broken-down washing machine and dryer, or an outdated computer that has seen one too many software upgrades.

Do you wish to transfer credit from a credit card with a high-interest rate? You could be looking for a way to get out of paying a high-interest rate on a credit card bill or a loan. Do you have a large cost coming up? It may be an upcoming medical treatment that is not, or just partially, covered by your health insurance.

Paying for a purchase or expense on a 0% intro APR credit card would let you pay the entire price upfront and chip away at the balance interest-free for the duration of the introductory offer. With a balance transfer, you can move debt from an existing, high-interest account to a new credit card with an introductory 0% APR offer.

How to choose the right 0% APR credit card

The perfect 0% APR credit card for you is determined by a few important variables.

Purchase vs. balance transfer

There are two kinds of zero-interest introductory deals. If you're planning a major purchase, you'll want a credit card with a 0% intro offer on new purchases to receive a brief relief from the purchase APR. If you want to transfer debt from a high-interest account, search for a credit card that offers a 0% APR on balance transfers for a limited time.

Some credit cards have only one sort of introductory promotion, while others include both. The incentives apply to different types of transactions, but both might help you accomplish the same objective of avoiding interest costs for a limited time.

Length of the introductory offer

The longer the 0% introductory deal, the better. A longer APR offer will provide you more time to take advantage of the zero-interest window as you make payments gradually, whether on a major purchase or a transferred amount.

Long-term value

Although some 0% interest credit cards are lacking in features, a large number of them provide rewards programs and other perks. While you are taking advantage of the introductory zero-interest offer, we urge that you focus on debt repayment. After you've paid off your debts, you may focus on earning rewards.

How much could you save with a 0% APR offer?

If you decide to put a big purchase on a credit card, you have another decision to make when the next bill comes due. You can:

  1. Pay off the entire monthly balance, including the large purchase, and face no APR charges.
  2. Make a partial payment on the monthly balance and pay APR on whatever amount is left over.

Of course, the problem with option B is that it could cost you a lot of money. The cost is likely to increase with every partial monthly payment you make. Over time, you’d have to devote more and more money to paying off not just the original purchase but also the mounting interest of rolling over unpaid debt from month to month.

How to avoid paying credit card interest

A credit card is a form of loan, and almost all loans have an interest. It is possible to avoid paying credit card interest but only under certain circumstances.

  • Paying your bill in whole and on time. The easiest and most efficient approach to avoid incurring credit card interest is to make your monthly credit card payments on time so that no money transfers over into the following billing cycle.
  • Using a 0% interest introductory deal. A zero-interest credit card can assist you to avoid paying interest on purchases and debit transfers for the duration of the promotional offer. When the introductory 0% APR period expires, the card's normal APR kicks in.
  • Making use of a grace period. Most credit card companies give a grace period that provides brief relief from interest after a payment cycle finishes. The crucial term, though, is "temporary." Typically, the grace period is 21 days.

Rules to follow to avoid getting into debt with a credit card

While the primary reason for having a credit card, such as the Think Money Credit Card, is to improve your credit score, if you want to get loans in the future and receive higher credit rates, you must pay close attention to how you handle the card.
Your credit score is determined by a number of variables, including your credit history or lack thereof.

Do I need a good credit score for zero-interest credit cards?

The answer is no. The truth is, no credit score is required for a zero-interest credit card. However, having good or excellent credit will greatly increase your chances of being approved for a card with 0% APR on balance transfers and purchases because you're more likely to pay your balance in full before interest charges are applied. You'll also be eligible for better features, rewards, and overall benefits that come with many low-interest cards. While there are plenty of zero-percent cards available to people with bad credit or no credit, if you want one with competitive rates and long introductory periods, consider getting it through a bank or lender you already have an existing relationship with—even if that's not where you plan to keep it forever.