0% Offers
A handy guide from CardWeb on where to find the best 0% APR deals:
| Bank | 2003 Offer | 2004 Offer |
| 1. Citibank | 16 months (B) | 15 months (B) |
| 2. MBNA | 12 months (P+C) | 11 months (B+C) |
| 3. Bank One | 12 months (P+B) | 11 months (P+B) |
| 4. JPM Chase | 12 months (P+B) | 12 months (B) |
| 5. Discover | 11 months (B) | 10 months (B) |
| 6. Capital One | 6 months (P+B) | 6 months (P+B) |
| 7. American Express | 6 months (P+B) | 6 months (P+B) |
| 8. Bank of America | 13 months (P+B) | none |
| 9. Providian | 13 months (P) | 9 months (B) |
| 10. Fleet | 12 months (P+B) | 14 months (P) |
| AVG | 11.3 months | 10.4 months |
| B-applies to balance transfers | ||
| P- applies to new purchases | ||
| C- applies to cash advances |
Of course, as 0% offers become more expensive to issuers, the 0% APR period is shortened in most places, and you can rightfully expect some 0% APR deals are not combined with other perks like cashback rewards.
A few more words: if you keep a revolving balance, the value of the 0% APR offer is worth the following to you: B * APR * L / 12 - F, where:
B is the amount of balance you will transfer,
APR is the current APR for the balance,
L is the length of the 0% APR offer in month, and
F is the balance transfer fee associated.
In addition, you may not want to make purchase during the 0% offer period unless the 0% APR offer applies to both purchase and balance transfer, because any payback to the card will be used to reduce 0% APR-related balance first.
If you don't have a balance to transfer (like me), the value of the offer can be much less. I opt for putting the money to a saving account generating 2.15% annual yield for both liquidity and safety of capital.
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