Best 0 Credit Cards on New Purchases 2020

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ProudMoney - Credit Cards & Personal Finance

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hey I'm Jessica from proud money.com in this video we are look at the best credit cards offering you a 0% interest rate on your new purchases for anywhere from 12 to 18 months on both the consumer and the business side but before we look at those I'm gonna ask you to please subscribe to this YouTube channel if you have not already in if you have already I thank you for doing so so we're looking at the best is 0% cards for purchases so you get the card and then you can make purchases for an extended period of time and let those just sit there at a 0% rate so there are a number of reasons that you might do this the first one is if you were making a big purchase that you knew you couldn't pay off immediately you might make that purchase with one of these cards let it sit there and pay it off over time then you wouldn't have to pay any interest on that purchase plus with many of these cards you could earn rewards at the same time on that purchase so instead of you know using one of those kind of dodgy furniture finance plans or something you could put it on one of these cards and get that 0% rate plus some rewards to boot now secondarily you might also use a 0% card if you are paying off debt somewhere else you might put new purchases on a card like this while you actually paid off the purchases on some other debt that had a higher interest rate and third on the business side you might use one of these cards as sort of a means for you know evening out your cash flow so say that you needed to make purchases today of inventory or advertising or whatever the case might be on the business side but you know you weren't gonna get paid for three months six months nine months or whatever you know you weren't really going to make the money that you were making the investment on today and inventory or ads or whatever you could put those purchases on a 0% card and that way you wouldn't have to pay any interest on them and once that money came in then you could pay them off so as you can see I'm advocating for these cards as a tool not as a way for you to make purchases at a 0% rate and then just run up a bunch of debt because eventually that 0% rate is going to go away and you are going to have to pay interest if you haven't paid it off so use the as a tool in the scenarios I just talked about and not just as a way to you know buy some free stuff we're like at 14 cards on the consumer side we're and looking at six cards on the small business side were and kind of knock through these quickly not go into too much detail about them use this as a sort of jumping-off point for you to investigate further if you might want one of these cards all right let's start on the consumer side if you're only worried in terms of getting one of these cards is how long that 0% offer is going to last there are two cards on the market that you would want to look at first those are the u.s. Bank visa platinum or the Wells Fargo visa platinum both of these cards are going to give you a 0% interest rate for 18 months on new purchases that you make with those cards those cards don't really have a whole lot else going on they have maybe lower interest rates and some of the reward cards on the market but there's nothing else really to necessarily recommend them unless that zero percent rate is really important to you and you want to max that out in terms of how long it will last all right now that 0% rate on new purchases sounds really good to you but you would like to have a card that you would really want to hold longer term that is going to give you some rewards as well we'll talk about those cards next and I'm going to start with four cards that are very similar in the fact that all of them offer a 0% interest rate for the first 15 months on new purchases that you make with the card and each one of them has a 1.5 percent flat cash back rate on every purchase that you make so you get a good 0% offer and then you have a good flat cash back card as well each one of them these also has a bonus offer which I will let you explore at your leisure usually there's somewhere between 150 bucks and 200 bucks depending on the spending that you do with the card so anyway those four cards to take a look at here are the American Express cash magnet the chase freedom unlimited via Capital One Quicksilver and the Wells Fargo cash wise visa 0% for 15 months 1.5% flat cash back on all four of those why there are six other consumer cards that we're going to talk about that also all offer 0% rates on your new purchases for 15 months each one of the as a reward card and has a little different rewards formula so you can explore further on those the first I'll talk about is the chase freedom card this is a card on the rewards end that is going to offer 5% cash back or 5 points per dollar in the chase ultimate rewards program on purchases in certain categories that change each calendar quarter so every three months chase changes what you can get 5% on so you can get 5% on those purchases you're going to get 1% on any other purchases that you make with the card and then there is a limit of getting 5% up to $1,500 in those categories of 0% for 15 months on new purchases and in those 5% categories couple American Express cards to talk about here first blue cash every day card that gives you three percent cash back at the US supermarkets 2 percent back at gas stations and a certain department stores 1% back everywhere else and then there is the Amex every day that gives you points on all of your purchases you get 2 points per dollar at US supermarkets one point per dollar everywhere else you can get a 20% boost on all those points each month when you use the card at least 20 times per month both of these cards again 0% rate on new purchases for 15 months the second card the Amex everyday card I should also mention that it has a 0% offer on your balance transfers if you transfer a balance from another credit card onto this one that not only will give you 0 percent for 15 months on those balance transfers but it will also do so without a balance transfer fee and there aren't very many cards on the market that offer that so while this video is about the 0% rate for new purchases talking about those balance transfers does make some sense in this case the Bank of America cash rewards card another no annual fee card giving 0% for 15 months on your new purchases on the rewards and you get 3% cash back in a category of your choice from a list that Bank of America provides things like online shopping travel gas and other categories as well you pick one and you get 3% in that category you can also change it out here and there if you want to also you get 2% back on your grocery store and or wholesale club purchases 1% back on all of your other purchases there's a cap on that 3% and 2% cash back rate so check that out as well overall another good card giving you 0% for 15 months Capital One saver one card another no annual fee card giving a 0% rate on your purchases for 15 months in addition on the rewards and you're getting 3% cashback on your dining and entertainment purchases 2% back on your grocery store purchases 1% back on everything else the city rewards plus card another card giving 0% on those new purchases for 15 months on the rewards side you are earning thank you points in the city thank you program you're getting 2 points per dollar on supermarket purchases 2 points per dollar on gas station purchases 1 point per dollar everywhere else the card also has a round up feature that rounds up the number of reward points that you earn on any particular purchase up to the next 10 so you get a little bit of a boost on all of the rewards that you get on every single purchase but the base is that 2 X or 1x that I just mentioned those two cards on the consumer end are the discover it cashback card and they discover it miles card both of these cards give 0% on your new purchases for the first 14 months that you have the card so really not all that big of a difference from the cards we just talked about that had 15 months on the rewards end the discover it card like the Chase Freedom Card we talked about earlier 5% cash back in these rotating categories each calendar quarter they change what those purchase categories are and when you make purchases in those categories you get 5% back on them any other purchases that you make with the card you get 1% back on the discovery miles card gives you 1 point 5 miles per dollar on each purchase that you make with the card regardless of what it is now this card is sort of marketed as a travel card but in reality you can take those 1.5 points and you can use them for cashback as well as travel purchases so essentially this is a 1.5 percent cashback card now with both the discover it cashback card and the discover it miles card you will get a bonus at the end of the first year what they call a cashback match at the end of the first year you are going to get all of the rewards that you earned in that first year doubled so on the discover it miles card for example if you were getting 1.5 miles per dollar at the end of that first year as long as you hold on to your card for that long they're going to give you another 1.5 miles on each dollar that you've spent so essentially you're going to get three miles per dollar or 3% if you think of it in cash back in that first year same thing with the discover it card with the rotating category so on those 5% categories at the end of the first year you could even think of those as being 10% categories now that's only a first year bonus that you get with those cards and then it works the way that I've already described all right now let's get down to business we are going to talk about six business cards that are going to give you a zero percent rate on your new purchases for 12 months we'll start with two American Express cards the American Express blue business plus card and the American Express blue business cash card the blue business plus card is going to give you two Membership Rewards points per dollar on all the purchases that you make with the card no matter what the purchase is up to $50,000 in yearly purchases on that card anything beyond that would give you one point per dollar the blue business cash card is going to give you two percent cash back on all your purchases up to that first $50,000 per year and then one percent beyond that so if you just want straight cash you get the two percent and then you know one percent if you go over fifty thousand if you're someone that likes the Membership Rewards program and you want to use those points for travel or other things within that program well then you would choose the business plus card that is giving you two Membership Rewards points per dollar on all of your purchases two cards to look at in the chase Inc business card family that chase business unlimited card gives you 1.5% cash back on all your purchases flat rate on everything that you buy with that card and then there is the chase Inc business cash card which gives you 5% in certain purchase categories 2% in some other categories then 1% everywhere else so depending on how you're spending Falls you might want to go flat cash back with the unlimited card or choose that cash card that has 5% on office supplies and internet business phone I think the 2% is gas and restaurants so you choose on either one of those but you're gonna get that 0% for the first 12 months on new purchases that you make with those cards as I'm making this video there is a $500 bonus opportunity with either of these cards if you spend $3,000 in the first three months of having them so if you qualify as a business there is an opportunity to get a nice bonus with this card as well as that 0% offer and those nice rewards the discover it business cards 0% on your new purchases for the first 12 months that you have the card in terms of rewards 1.5% cash back on all of your purchases across the board at the end of the first year of having this card you're gonna get that cash back match where you're going to get the other 1.5% on top of what you have already earned on your purchases so effectively in that first year as long as you hold that card beyond one year you're going to get 3% back on your purchases in the first year and then beyond that first year would be the 1.5% and then finally the US bank business platinum visa no rewards on this car but no annual fees 0% for 12 months on your new purchases probably going to give you a little lower interest rate than any of those other cards that I talked about so you're not going to get the rewards from this card but you probably get a better interest rate and you get that 0% offer on the front end so that's a 20 cards you could take a look at if you are looking for a 0% rate on your new purchases when you get a card as I said most of these cards also have a new card holder bonus as well so make sure to take that into consideration as you are choosing if you're looking for a card of this type and think I covered pretty much all of the best cards giving this type of offer but if you know of another one I would love to hear about it in the comments section below otherwise thank you for watching and as always please go to proud money comm where we do credit card reviews we talk personal finance we talk deals and all sorts of other fun stuff too thanks for watching bye

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