Blue from American Express: 0% Interest on Purchases for 15 Months
It seems that 0% credit card offers are all the rage nowadays. In fact, I just received word that Blue from American Express has sweetened their introductory offer of 0% on purchases from 6 months to 12 months. However, in looking at the application page, it appears that they’re actually offering 0% for 15 months.
This card features no annual fee and rewards through the Membership Rewards Express program, which is a points-based program offering 1 point per dollar spent. While this program isn’t nearly as generous as the 5%/1.5% cash back rewards offered by the Blue Cash rewards card, 12-15 months of 0% interest on purchases is a pretty sweet deal.
One strategy with a card like this would be to use it in place of your usual credit cards, but make any payments above the required minimum into a high yield online savings account. That way you’ll be earning a bit of interest on money that you’ve already spent, and you won’t get caught short when the introductory 0% period runs out. Just be sure to make you payments on time and respect your credit limits.
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