Updated: February 4, 2014
Barclaycard® Rewards MasterCard® – Excellent Credit
The Barclaycard® Rewards MasterCard® for excellent credit is a points-based rewards credit card offering cardholders a 0% introductory APR for 15 months on purchases and balance transfers. New cardholders can earn 5,000 points, equal to a $50 statement credit, after the first purchase or balance transfer. Cardholders can also earn two points per dollar on gas, grocery, and utility purchases, along with one point per dollar everywhere else. Points can be redeemed like cash to pay for almost any purchases. In addition to no annual fee, there are no blackout dates, no redemption fees, no limit on the points you can earn, and no complicated setup. Like some of the best no interest credit cards, the Barclaycard® Rewards MasterCard® does charge a foreign currency transaction fee of 3% per transaction, which is a shortcoming for those that travel internationally. Overall, those looking for a no interest credit card will not be disappointed by the Barclaycard® Rewards MasterCard®.
The Discover it™ card ranks near the top of the best no interest credit cards with its highly competitive 0% introductory APR on purchases and balance transfers for 14 months. After this introductory period, the variable purchase APR applies, which is currently 10.99% to 22.99%. The Discover it™ card also compares well when it comes to fees, with no annual, over-limit, foreign transaction, or pay-by-phone fees. The Discover it™ card also provides flexibility in terms of payment due date, allowing cardholders to choose the due date that works for them, and pay up until midnight ET online or by phone. Unlike many competitor cards, the Discover it™ card does not offer a sign-up bonus, but with 5% cash back on up to $1,500 of purchases on rotating quarterly categories, rewards can still add up quickly.
Chase Freedom® Visa
The Chase Freedom® Visa is a cash back rewards card that offers a 0% introductory APR for 15 months on purchases, which is the longest intro APR among the top rewards credit cards. Combine this with the 0% introductory APR on balance transfers, and it is easy to see why the Chase Freedom® Visa tops the list of best no interest credit cards. In addition to these great introductory offers, the Chase Freedom® card offers 5% cash back on up to $1,500 spent on rotating quarterly categories like gas stations, restaurants, and Amazon.com, and 1% on all purchases. With the long introductory rates on purchases and balance transfers, no annual fee, and great cash back rates, the Chase Freedom® card stands out among the best no interest credit cards. One drawback to the cash back rewards is the fact that cardholders will have to manually activate the card for rewards each quarter. The card also has a foreign currency transaction fee of 3% which may impact some.
Citi® ThankYou® Preferred Rewards Card
The Citi ThankYou® Preferred Rewards Card offers a 0% introductory APR on balance transfers and purchases for 12 months. After that, the variable APR will be 12.99% to 22.99% based upon creditworthiness. The ThankYou® Preferred Rewards Card is a points-based rewards card, that offers a competitive sign-up bonus of 15,000 ThankYou® Points after making $1,000 in card purchases within three months of account opening. Unlike many of the top rewards cards, the ThankYou® card does not offer opportunities for bonus points on common purchases, limiting rewards to the standard one ThankYou® Point for every dollar spent on all purchases. However, points can be redeemed for merchandise, travel rewards, gift cards, cash, and more, and with the competitive introductory APRs, the Citi ThankYou® Preferred Rewards Card is deserving of a spot on the list of best no interest credit cards.
BankAmericard Cash Rewards™ Credit Card
Offering a 0% introductory APR on purchases and balance transfers for the first twelve billing cycles, the BankAmericard Cash Rewards™ Credit Card finishes off the list of best no interest credit cards. The BankAmericard offers multiple opportunities for cash back, as cardholders will receive 2% on groceries and 3% on gas for the first $1,500 in combined gas and grocery purchases each quarter, as well as 1% cash back on purchases everywhere, every time. In addition, new cardholders can receive a one-time $100 cash rewards bonus after making at least $500 in purchases in the first 90 days of account opening. One downside to the BankAmericard are the missing travel benefits like travel insurance, lost luggage insurance, flight insurance, and emergency insurance. However, the card does not charge an annual fee, and with all the opportunities for bonus cash back, the BankAmericard Cash Rewards™ Credit Card is still among the best no interest credit cards.