How to Avoid Credit Card Interest in 2023

High inflation has made this year a financial struggle for many, and if you’re not already carrying a balance on your credit cards, the desire to give loved ones (and maybe yourself) a happy holiday season is probably tempting.

Combine that with rising interest rates, and you’re looking at starting 2023 already in the hole. But you don’t have to.

A good 0% interest offer or a card with a generous grace period for balance transfers could provide space for you to pay down debt, and hopefully for the economy to become a little more sane.

Here are some of the best options for avoiding credit card interest heading into 2023.

U.S. Bank Visa Platinum

Why we like it: This card offers an incredibly generous introductory APR for both new purchases and balance transfers — 0% for 18 billing cycles.

What to know:

U.S. Bank Visa Platinum
U.S. Bank
  • 0% intro APR for 18 billing cycles on balance transfers.
  • 0% intro APR for 18 billing cycles on new purchases.
  • Up to $600 in cellphone insurance (with a $25 deductible) if you pay your phone bill with the card.
  • Flexible payment date.
  • No annual fee.

Note: This card has a balance transfer fee of 3% or $5, whichever is greater.

Capital One Quicksilver Cash Rewards

Why we like it: This is a great all-around credit card with 1.5% cash back on every purchase. It also offers a $200 cash bonus after you spend just $500 within the first three months of opening the account.

What to know:

Capital One Quicksilver Cash Rewards
Capital One
  • Get 1.5% cash back on every purchase — no limits, and no expiration on cash-back rewards for the life of the account.
  • Get a $200 statement credit after spending $500 on the card within the first three months.
  • Pay 0% APR on purchases and balance transfers within the introductory 15-month period.
  • No annual fee.
  • No foreign transaction fees.

Chase Freedom Flex

Why we like it: The Chase Freedom Flex card offers strong cash-back rewards in several categories and turbo-charges your rewards in seasonal bonus categories. You get a 0% introductory APR offer on purchases for 15 months, plus earn a $200 bonus after spending $500 on purchases in the first three months with the card. It’s a solid card on its own, but also pairs well with the rewards of Chase Freedom Unlimited.

What to know:

Chase Freedom Flex
Chase
  • 5% cash back on travel-related purchases through Chase Ultimate Rewards, including hotels, flights, car rentals and cruises.
  • 5% cash back on purchases in seasonal bonus categories, up to $1,500 each quarter.
  • 3% cash back on dining at restaurants (including takeout and eligible delivery).
  • 3% cash back on drugstore purchases.
  • 1% cash back on all other purchases.
  • No annual fee.

Citi Diamond Preferred

Why we like it: The Citi Diamond Preferred card is a good choice for people transferring a balance, thanks to the introductory 0% APR on balance transfers for the first 21 months. You’ll also get a full 12 months of 0% APR on new purchases.

What to know:

Citi Diamond Preferred
Citi
  • 0% introductory APR on balance transfers for 21 months, with a balance transfer fee of $5 or 5%, whichever is higher.
  • 0% introductory APR on new purchases for 12 months.
  • Earn $150 in statement credits by spending $500 on purchases in your first three months, for a limited time.
  • Free access to your FICO Score.
  • No annual fee.

Note: This card has a 3% foreign transaction fee, so plan accordingly for international travel.

Whatever you need in a credit card — whether it’s a balance transfer, reward points, cash back or a low interest rate — you can find it with our credit card search tool. Click here to search for the plastic that best fits your needs.

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