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These Zero-Interest Cards Are Your Secret Weapon Against 2014 Debt

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If, like many other Americans, you wrote “pay down debt” somewhere near the top of your list of financial resolutions, chances are you might be battling with crippling credit card debt. However, rather than continue to pay off loads of interest on your current credit cards, consider the advantages of opening up a zero-interest card for balance transfer purposes.

One of the best things about signing up for a new credit card with 0% introductory APR is that it can essentially offer you an interest-free loan for however long the introductory period will be, which often ranges from six to 18 months. Zero-interest credit cards allow you the time and flexibility to pay off your debt while committing more money toward rebuilding your savings.

“Making a balance transfer to a zero-interest card is great if you have your balance on a high-interest card currently,” said Christina Povenmire, a certified financial planner. “However, even zero-interest cards charge fees for balance transfers — do the math and make sure you are actually going to be saving money by transferring your balance.”

If you’re looking to downsize your debt in 2014 and successfully manage various account balances, consider the following no-interest credit card offers for the new year.

8 Best No-Interest Credit Cards for 2014

1. Citi Diamond Preferred Card

  • 0% introductory APR on purchases and balance transfer for the first 18 months.
  • After 18 months, the APR will be 11.99%-21.99%, based upon your creditworthiness. Balance transfer fees are either $5 or 3% of the amount you transfer.
  • Cardholders have no annual fee to worry about.

2. Citi Simplicity Card

  • Enjoy an introductory APR of 0% for balance transfers and purchases during the first 18 months.
  • After the intro period, cardholders receive a variable APR between 12.99% and 21.99%, based on creditworthiness, as well as balance transfer fees of either $5 or 3% of the amount of each transfer, whichever is greater.
  • Cardholders never have to worry about paying late fees.

3. Citi ThankYou Preferred Card

4. Discover It Card

  • Receive 14 months of 0% interest from Discover on purchases and balance transfers from the date of first transfer, along with transfers that post to your account by April 10, 2014.
  • After the 14-month introductory period, cardholders will receive a standard variable APR between 10.99% and 22.99%, depending on creditworthiness.

5. Chase Slate Card

  • Take advantage of a 0% introductory APR from Chase for the first 15 months on purchases and balance transfers.
  • Once the intro period ends, cardholders receive a variable APR between 12.99% and 22.99%.
  • No balance transfer fee for the first 60 days, after which the fee is 3% of the amount transferred with a minimum of $5.

6. Capital One Quicksilver Cash Rewards Credit Card

  • Cardholders with excellent credit will enjoy a 0% intro APR from Capital One on purchases and balance transfers until December 2014.
  • After the introductory period, cardholders receive a variable APR between 12.9% and 20.9% on purchases and balance transfers
  • No annual fee.

7. Capital One VentureOne Rewards Credit Card

  • 0% intro APR on purchases until December 2014 for Capital One cardholders with excellent credit.
  • Cardholders will receive a variable APR of 11.9% to 19.9% thereafter, depending on creditworthiness.
  • No annual fee.

8. BankAmericard Better Balance Rewards Credit Card

  • Receive a 0% introductory APR from Bank of America for the first 12 billing cycles for purchases and balance transfers made within 60 days of opening your account.
  • Once the intro period is over, cardholders get a variable APR between 11.99% and 22.99%, and are charged a balance transfer fee of 3% of each transaction with a $10 minimum.
  • No annual fee.

Community Banks and Credit Unions With Great Zero-Interest Credit Card Offers

1. Deer Valley Credit Union

deer valley credit union

 Visa Platinum Card

  • Receive an introductory 0% APR from Deer Valley Credit Union for the first 12 billing cycles on purchases and balance transfers.
  • At the end of the introductory period, cardholders are held to a variable APR ranging from 9.99% to 20.99%.
  • There’s no annual fee for this credit card offer.

2. Farm Bureau Bank

farm bureau bank

Farm Bureau Bank World MasterCard

  • 0% introductory APR on purchases and balance transfers from Farm Bureau Bank for the first 12 billing cycles after the account is opened.
  • After the intro period is over, cardholders receive a variable rate between 12.99% and 24.99%, depending on creditworthiness.
  • Card users can also earn one point for every $1 in balance transfers, up to 2,500 points, during the first 30 days after the account is open.
  • No annual fee.

3. MONEY Federal Credit Union

money federal credit union

Visa Platinum Card

  • Take advantage of an introductory 0% APR from MONEY Federal Credit Union during the first 12 billing cycles on purchases and balance transfers.
  • Once the intro period is over, cardholders will receive a variable APR ranging from 9.99% to 17.99%.
  • No annual fee.

4. Tropical Financial Credit Union

tropical financial credit union

Tropical Financial Visa Platinum/Platinum Rewards Credit Card

  • Earn 0% APR on purchases from Tropical Financial Credit Union for the first six months from the date the account is opened, along with 0% APR on balance transfers from the date of first transfer for transfers that post to your account by March 31, 2014.
  • After the first six months, cardholders receive a variable APR between 8.99% and 17.99%.
  • No annual fees, no balance transfer fees, no over-limit fees.

5. Zions Bank

zions bank

AmaZing Rate Credit Card

  • Enjoy an introductory APR of 0% for six months on purchases and 12 months on balance transfers from Zions Bank.
  • At the end of the introductory period, Zions Bank charges cardholders a variable APR ranging from 9.24% to 12.24% on purchases and balance transfers. There’s also a 3% fee with a $10 minimum on balance transfers.
  • No annual fee.

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  • http://www.nationaldebtrelief.com/ National Debt Relief

    Zero interest credit cards are a good way to attack your debt, if you qualify. There are some pretty good deals out there. Not everyone has a 720+ credit score to get approved though.

  • Money Owl

    Just remember to have an exit plan! At the end of the “free” period, the interest rate is going to go way up. You need to have paid it all off by then. Also that “balance transfer fee” is the actual interest that you are paying for the loan, so a 3% BTF is actually about a 3% APR paid upfront – NOT 0%!