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CNBC
28-05-2025
- Business
- CNBC
What happens when my 0% APR period ends?
A 0% APR credit card can be a helpful financial tool when you need to finance a large purchase or consolidate outstanding credit card balances. You can get up to 24 months of zero interest, making it easier to make payments over a longer period without going into debt. But these types of credit cards are really only best utilized when you have a payment plan in place so that when the introductory 0% APR period ends, you're not then collecting interest on a large balance. Here's more on what happens when your interest-free period ends, plus how to manage a possible ongoing balance when that happens. Whether you're using a 0% APR card that offers an interest-free period on new purchases, balance transfers or both, that grace period doesn't last forever. Some credit cards offer introductory 0% APR periods for as little as 12 months while some offer periods for as long as two years. If you're looking for a card with a shorter 0% APR window, the Wells Fargo Active Cash® Card offers an intro APR for 12 months on purchases and qualifying balance transfers (after, 19.24%, 24.24% or 29.24% variable APR) and earns unlimited 2% cash rewards on purchases, plus the card has a $0 annual fee. On Wells Fargo's site On Wells Fargo's site Good to Excellent670–850 19.24%, 24.24%, or 29.24% Variable APR $0 Earn a $200 cash rewards bonus See rates and fees. Terms apply. The Wells Fargo Active Cash® Card is great if you want simplicity thanks to its flat-rate 2% unlimited cash rewards on purchases and $0 annual balance transfer fee of 3% for 120 days from account opening, then up to 5%, min: $5 3% If you'd prefer one that gives you a bit more time, the U.S. Bank Shield™ Visa® Card has an intro 0% APR on purchases and eligible balance transfers that's double the length, lasting 24 billing cycles (after, 17.74% to 28.74% variable APR). The card comes with 4% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Center and a $20 annual statement credit for 11 consecutive months of purchases. Personal and small business credit cards issued by U.S. Bank are currently not available on CNBC Select. Click "Learn More" to review other credit card offers. Personal and small business credit cards issued by U.S. Bank are currently not available on CNBC Select. Click "Learn More" to review other credit card offers. U.S. Bank cards are currently not available on CNBC Select but you can check out our marketplace to compare offers from other issuers including American Express and Chase. Good to Excellent670–850 See terms See terms See terms *See rates and fees, terms apply. Information about personal and small business credit cards issued by U.S. Bank has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication. Regardless of the time frame, once your APR period ends, you'll begin accruing interest on any unpaid balance at the rate listed on your card's agreement terms. (You can often find this rate via your online account or contact your issuer directly.) This is why we always suggest having a specific plan in place to pay off your balance by the time the 0% APR period ends. One example is dividing how much you owe over the number of months in the APR period, so you know how much to pay each month to get to zero before interest kicks in. Otherwise, you'll be stuck with a ballooning balance now due that's going to start collecting double-digit interest. And don't forget that even with a 0% APR card, you still have to make monthly minimum payments at the very least. An issuer can end the interest-free period if you miss a credit card payment. So, you weren't able to tackle the entire balance by the time your 0% APR period ended; now what? While this seems like the obvious answer, with how high credit card interest rates can be, this type of debt should almost always be your priority. This is sometimes referred to as the avalanche method, which entails paying off the debt that has the highest APR first. If you're at a point where you're considering outside help, exploring some debt relief companies can at least provide you with some more information. These companies negotiate with your creditors to help get your balance lowered, but the negotiation can come with some hoops you have to jump through, and success isn't always guaranteed. Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent Debt Relief has resolved over $19 billion in outstanding debts since 2002. It offers free credit card debt relief in 2011, Accredited Debt Relief has helped clients resolve over $1 billion in debt. While you can request an extension via your financial institution, it's unlikely that this would be approved, but there are some credit card fees you might be able to waive. Yes, it's generally recommended to keep the credit card open to help boost your available credit and credit history, with an exception being for high-annual-fee cards that you don't intend to use. The length of your exact 0% APR period is determined by the card you're approved for, but six to 24 months, or billing cycles, is a common range. Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
Forbes
17-04-2025
- Business
- Forbes
U.S. Bank Shield Visa Card Review 2025: It's Got The Power (To Help You Knock Out Debt)
Not all superheroes wear capes. When it comes to debt-busting credit cards, the latest offering from U.S. Bank wields a mighty 24 billing cycles shield from high interest, offering an intro APR on both purchases and balance transfers. The U.S. Bank Shield™ Visa® Card* has the longest intro APR offer currently available, making it a standout for anyone looking to fend off mounting credit card bills. It also earns rewards on travel booked through U.S. Bank, but the intro APR offer is the main event with this card. The U.S. Bank Shield offers a 0% intro APR on purchases and balance transfers for 24 billing cycles, then a standard 17.74% to 28.74% variable APR applies. A balance transfer fee of 5% ($5 minimum) applies and balances transferred must be completed within 60 days from account opening. You won't find a longer introductory low-interest offer on a credit card. The more time you have to pay off your debt without accruing interest, the more manageable it can be. I've been writing about credit cards for nearly a decade. I've never seen an intro APR card with an offer as lengthy as the U.S. Bank Shield™ Visa® Card*. Most of the other best 0% intro APR offers top out at 21 months, but the Shield offer tops that by an additional three months. That extra time can be a boon if you're trying to stretch out your payments as long as possible. For example, if you have $10,000 in debt, transferring it to a card with a 3% balance transfer fee and a 21-month offer would mean monthly payments of $490.48 to completely pay off the $10,000 plus the $300 balance transfer fee off within the intro APR period. Compare that to $10,000 transferred to the Shield Card with a 5% of each transfer amount ($5 minimum) balance transfer fee, and your monthly payments would drop to $437.50 over 24 billing cycles. Unlike many cards with a lengthy balance transfer offer, the Shield Card does have earning potential. You can earn 4% cash back on prepaid air, hotel and rental car reservations booked through the Rewards Travel Center. While booking travel through U.S. Bank may be a rarity for many of us, the cash back plus 24 billing cycles to pay it off is a win-win when you do make reservations through the platform. Why you can trust Forbes Advisor Our credit card editors are committed to bringing you unbiased ratings and information. Advertisers do not and cannot influence our ratings. We use data-driven methodologies to evaluate financial products and companies, so all are measured equally. You can read more about our editorial guidelines and the credit card methodology for the ratings below. The balance transfer fee of 5% of each transfer amount ($5 minimum) is within the range of what's typically offered on cards, but it's on the upper end of the range. A lower balance transfer fee would make the card even more of a slam dunk. One issue with many top balance transfer cards is that after the intro offer expires, so does the card's usefulness. This card offers strong rewards on travel booked through U.S. Bank, but that can be limiting to anyone who wants to earn elite hotel nights or just likes to shop around to get the best deal. Additionally, you'll have to deal with the U.S. Bank Travel Center instead of directly with the airline if your flight is delayed or canceled, which can add an extra layer of inconvenience to flight issues. The U.S. Bank Shield Card earns: There is no welcome offer. You can redeem your rewards as a statement credit to your card account, or deposited to your eligible U.S. Bank checking or savings account or as a prepaid rewards card. Forbes Advisor uses data from various government agencies to determine both baseline income and spending averages across various categories. The 70th percentile of wage earners in 2025 bring in $127,200 annually, and we base our sample household spending on that number. Here's what that sample household could earn if they booked their travel exclusively through U.S. Bank. U.S. Bank Shield™ Visa® Card* Rewards Potential The U.S. Bank Shield Visa card comes with a 0% intro APR on purchases and balance transfers for 24 billing cycles, then a standard 17.74% to 28.74% variable APR applies. A balance transfer fee of 5% ($5 minimum) applies and balances transferred must be completed within 60 days from account opening. The Wells Fargo Reflect® Card (rates & fees) also comes with a lengthy intro APR offer of a 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. A 17.24%, 23.74%, or 28.99% variable APR applies thereafter. Balance transfers made within 120 days qualify for the intro APR and a balance transfer fee of 5%, min $5 applies. However, that's less time than what the U.S. Shield card offers with a similar balance transfer fee so you won't save any money there, either. Neither card offers meaningful benefits like rewards, although the Wells Fargo Reflect® Card also offers cellphone protection of up to $600 if you pay your mobile bill with the card (subject to a $25 deductible). Apples to apples though, if you want the longest runway possible to pay off your debt, the Shield Card is the better choice. The Citi Simplicity® Card* is a frills-free card offering a 0% intro APR for 21 months on balance transfers from date of first transfer and 0% intro APR for 12 months on purchases from date of account opening. After that, the variable APR will be 18.24% to 28.99%. There is an intro balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater, for transfers made within 4 months of opening the account. After that, a balance transfer fee of either $5 or 5% of the amount of each transfer, whichever is greater, applies. Once again, that's less time than what you can get with the Shield, however the Simplicity does have a slightly lower balance transfer fee. The Citi Double Cash® Card comes with a shorter intro APR offer of 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 18.24% to 28.24%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5). Even so, it may have the edge for some over the Shield card as it earns rewards of 2% cash back on all purchases—1% when purchases are made and another 1% when they're paid off, and earn 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/25. This gives the card staying power long after the intro APR is gone. However, the right card for you between the two will ultimately depend on your goals. If you can pay off your debt within the introductory period offered by the Citi Double Cash® Card, use it for your debt and keep it for the rewards. But if you can benefit more from the longer intro period on the U.S. Bank Shield™ Visa® Card*, go that route instead. The double-digit interest rate you'd pay on credit card debt will usually outweigh any rewards you can earn. If you want to get the longest-possible intro APR period on a credit card, the U.S. Bank Shield™ Visa® Card* is for you. As of this writing, the Shield stands alone in offering a full 24 billing cycles of an introductory APR. However, if you can sacrifice a few months of intro APR for better rewards, you may want to consider one of the other best intro APR cards. Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including: We give greater weight to the card features we believe cardholders will use most frequently. These factors combine to generate a star rating for each card. To learn more about our rating and review methodology and editorial process, check out our guide on how Forbes Advisor rates credit cards. *The information for the following card(s) has been collected independently by Forbes Advisor: U.S. Bank Shield™ Visa® Card, Citi Simplicity® Card. The card details on this page have not been reviewed or provided by the card issuer.
Associated Press
17-03-2025
- Automotive
- Associated Press
U.S. Bank Shield™ Visa® Card offers 0% intro APR for 24 billing cycles
U.S. Bank, a leading provider of payment services and solutions, today announced a new consumer credit card to complement its growing portfolio of payment products for consumer and business banking clients: the U.S. Bank Shield™ Visa® Card. This card offers a market-leading introductory 0% APR on purchases and balance transfers for the first 24 billing cycles (as of March 17,2025). After that, it has a variable APR, currently 17.74% to 28.74%. Additionally, the Shield Card includes an array of purchase protection and cash-back benefits. 'The Shield Visa card is the perfect card for the consumer motivated by value, protection and security,' said Steve Mattics, head of credit card and debit products at U.S. Bank. 'In addition to the best and longest introductory APR offer on purchases and balance transfers, this card offers a market-leading suite of protection benefits to ensure clients can be confident when using it to make important purchases – all for no annual fee.' The card – which has a sleek, clear plastic design – also offers 4% cash back on prepaid air, hotel and car reservations booked with a Shield Visa card directly in the U.S. Bank Travel Rewards Center and an annual $20 statement credit after 11 consecutive months of purchases. In addition, when cardholders use their U.S. Bank Shield Visa card, they can enjoy protection benefits that shield them from unexpected risks such as: Cell Phone Protection: Eligible cell phone can be reimbursed up to $600 in the event of damage or theft when the monthly cell phone bill is paid for with the Shield Card. Auto Rental Collision Damage Waiver: Provides insurance coverage for physical damage and theft, reasonable and customary towing, and valid loss-of-use charges and administrative fees when you reserve and pay for a rental car with the covered card. Extended Warranty Protection: Extends product warranties automatically. Cardholders can add an additional year to qualifying warranties with Extended Warranty Protection for purchases made with the card. Purchase Security: Safeguard purchases against theft or damage due to fire, vandalism or accidentally discharged water or certain weather conditions within the first 90 days from the date of purchase with Purchase Security. Learn more about the U.S. Bank Shield Visa card at U.S. Bank offers a broad range of credit card solutions to meet the needs of consumers and businesses with rich rewards, meaningful benefits and a variety of purchasing options—all supported by an industry-leading mobile app. About U.S. Bancorp U.S. Bancorp, with more than 70,000 employees and $678 billion in assets as of December 31, 2024, is the parent company of U.S. Bank National Association. Headquartered in Minneapolis, the company serves millions of customers locally, nationally and globally through a diversified mix of businesses including consumer banking, business banking, commercial banking, institutional banking, payments and wealth management. U.S. Bancorp has been recognized for its approach to digital innovation, community partnerships and customer service, including being named one of the 2024 World's Most Ethical Companies and one of Fortune's most admired superregional banks. Learn more at Disclosure The creditor and issuer of this card is U.S. Bank National Association, pursuant to a license from Visa U.S.A. Inc., and the card is available to United States residents only. Tessa Bajema SOURCE: U.S. Bancorp Copyright Business Wire 2025. PUB: 03/17/2025 12:30 PM/DISC: 03/17/2025 12:30 PM
