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What's the Best Zero Interest Credit Card Offer Right Now?

We talked about the new improvements to the American Express line of Blue Cash credit cards last week. Namely, we were most impressed with the addition of a 15-month zero interest introductory period applied to both purchases and balance transfers.

The new interest-free offers applied to all three cards - the Blue Cash Preferred® Card from American Express, the Blue Cash Everyday® Card from American Express and Blue Sky from American Express® - vaulted each card into our top 5 best zero interest credit cards offers available today.

But with so many strong offers hitting the market of late, we decided it was time to take stock of the very best cards to determine what's the absolute best zero interest credit card offer available right now.

Without further ado, here are the top three to make the cut, beginning with our number one zero interest offer right now...

1.) Discover it®

Right now, this is still our number one interest-free credit card because of its current bonus cash back offer. Through September 30th, cardholders earn 5 percent cash back on up to $1,500 in purchases at gas stations with free and easy sign-up, and 1 percent thereafter. Categories rotate each quarter, and cardholders earn 1 percent cash back on all other purchases.

The zero interest intro period of 14 months applies to both purchases and balance transfers. There's also no annual fee, and they'll waive the late payment fee on your first late payment.

The lack of fees and the excellent bonus cash back program are what keep this excellent offer from Discover at the top of the list.

2.) Blue Cash Preferred® Card from American Express

This card was one of the very best available before they began offering zero interest for 15 months on new purchases and balance transfers. We give the nod to aforementioned Discover card because it requires no annual fee; the annual fee on this AmEx offer is $75 (though there is a similar no annual fee offer with zero interest, the Blue Cash Everyday® Card from American Express.)

That said, this is a superb zero interest cash back offer. Cardholders earn a whopping 6 percent cash back on up to $6,000 per year in purchases made at US supermarkets. That's $360 in cash back if you're scoring at home. Members also earn an unlimited 3 percent cash back at US gas stations and select US department stores, and 1 percent cash back on all other purchases.

If you were ever going to pay an annual fee to carry a credit card, this would be the one we suggest.

3.) Citi Simplicity® Card

Finally, there's this 18-month interest-free introductory offer from Citi. This is tied for the longest zero percent introductory offer of any card on the market today, and applies to both balance transfers and purchases.

This card is also as light on fees as they come. There are no annual fees and no late fees - EVER - and they'll never raise your APR for paying late. 

The only knock on this card is that there's no rewards program. But for consumers most interested in using a balance transfer credit card to pay down their debt interest-free, this credit card is as good an offer as any that you'll find on the market right now.

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Jason Bushey's picture

Jason Bushey is the former Editor and Vice President of Creditnet. Jason is a Burlington, Vermont native who moved to sunny San Diego after earning a Bachelor's Degree in English and Political Science at the University of Vermont ('09). When he's not sharing his take on credit cards, administrating the Creditnet Forum or blogging about all things related to credit, you can probably find him cheering on the Green Bay Packers (He's an owner!) or running up and down the streets of SoCal.

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