I’ve managed to get this far with out ever carrying an interest-bearing bank card stability. However I’ve taken benefit of extra 0% APR introductory promotions than I can rely although, and I understand how to identify an important alternative after I see one.
The Truist Future Credit score Card is such a possibility. Although if I’m being trustworthy, not an earth-shattering one, and one made much less engaging by the cardboard’s different deficiencies.
Nonetheless: In case you’re able to get severe about paying down high-interest bank card balances or have to finance a giant buy and hope to keep away from curiosity within the course of, the Truist Future card is made for you. Right here’s what you should learn about it to make an knowledgeable determination about making use of (or not).
What Is the Truist Future Credit score Card?
The Truist Future Credit score Card is a low APR bank card with an extended 0% APR buy and stability switch promotion stretching 15 months from account opening. It’s designed for individuals who have to switch and pay down high-interest balances from current bank card accounts and people trying to finance larger purchases whereas minimizing curiosity costs.
The Truist Future card doesn’t have a daily rewards program, so it’s not acceptable for folks looking for a direct return on spending. Nevertheless it additionally has no annual price, which implies it received’t value something to maintain in reserve if and when you should use it.
What Units the Truist Future Credit score Card Aside
The Truist Future Credit score Card isn’t groundbreaking and actually has no distinctive options that really “set it aside.” Its most distinctive attributes relate to its 0% APR promotion and low ongoing APR:
- 0% APR for 15 Months From Account Opening on Eligible Purchases and Steadiness Transfers. The Truist Future card has matching 15-month 0% APR intro promotions for purchases and stability transfers. The promotional fee applies to all purchases made throughout the first 15 months and to stability transfers made throughout the first 60 days of account opening (with the 0% APR interval lasting the total 15 months from account opening).
- Low Ongoing APR. The Truist Future card has a comparatively low ongoing APR, although variable and dependent in your creditworthiness. I all the time counsel towards carrying interest-bearing balances except completely crucial, however when you should, this can be a first rate card to take action with.
- Entry to Truist Offers. Truist Offers is Truist’s in-house procuring and affiliate rewards portal. It’s not groundbreaking by any means, however actually value trying out if you wish to save on purchases you’d make anyway.
Key Options of the Truist Future Credit score Card
Maintain studying for extra particulars on the Truist Future card’s essential options, together with its 0% APR promotion and Truist Offers.
Intro APR Provide
The Truist Future Credit score Card has twin 0% APR intro provides for purchases and stability transfers. Each stretch 15 months from account opening, however qualifying stability transfers have to be made throughout the first 60 days.
A 3% stability switch price applies to all eligible stability transfers. That’s nonetheless a lot lower than the minimal APR you’d pay on a nonpromotional stability switch although.
This card’s ongoing APR is variable and credit-dependent. See charges and charges for the most recent APR data.
This card has no annual price or international transaction price. Different charges could apply; see charges and charges.
Different Safety and Fee Options
This card comes with some helpful (if roughly customary) safety and cost options:
- Customizable card controls for enhanced safety
- Zero fraud legal responsibility (backed by Visa)
- Contactless cost performance
- Cell pockets compatibility with Apple Pay, Google Pay, and Samsung Pay
Truist’s banner beneath has extra particulars. Word that the “additional rewards” and “star advantages” options aren’t out there on the Truist Future card.
Credit score Required
This card requires good to glorious credit score. It’s not designed for folks with restricted credit score, nor these with impaired and even honest credit score.
Benefits of the Truist Future Credit score Card
Let’s evaluate the important thing benefits of the Truist Future card.
- Lengthy 0% APR Intro Promotion for Purchases and Steadiness Transfers. That is the Truist Future card’s signature profit and, in my view, the one true promoting level over comparable playing cards.
- Comparatively Low Ongoing APR. In case you should carry an interest-bearing bank card stability, that is the cardboard to do it with. Maintain it in reserve for emergencies.
- No Annual Price. Not significantly uncommon, however undoubtedly welcome, particularly after the 0% APR intro interval ends.
- No Overseas Transaction Price. In case you journey outdoors the U.S. or patronize retailers based mostly abroad, you’ll respect the 0% international transaction price right here.
- Entry to Truist Offers. Truist Offers isn’t a daily rewards program, however it’s the one method to earn a direct return on spending with this card.
Disadvantages of the Truist Future Credit score Card
Take into account these disadvantages earlier than you apply for the Truist Future card.
- No Common Rewards Program. The Truist Future card has no common rewards program. On a regular basis spending received’t internet you something right here.
- No Spend-Primarily based Welcome Provide. The Truist Future card doesn’t have a spend-based welcome provide both. Some competing 0% APR bank cards provide assertion credit after you clear a predetermined spending threshold throughout the first 3 or 4 months.
- Few Further Perks. This card has few value-added advantages to talk of aside from what comes customary with Visa Signature bank cards.
How the Truist Future Credit score Card Stacks Up
Earlier than you apply for the Truist Future Credit score Card, see the way it compares to a different widespread low APR bank card with an extended 0% curiosity promotion: the Chase Slate Edge Credit score Card.
|Truist Future||Slate Edge|
|0% APR Promotion||15 months on purchases and stability transfers||18 months on purchases and stability transfers|
|Ongoing APR||Comparatively low||Reasonable|
|Potential for Curiosity Charge Discount||No||Sure, with accountable card use over time|
|Overseas Transaction Price||0%||3%|
The Truist Future Credit score Card is a stable alternative if you should pay down high-interest bank card debt quick or finance a serious buy with out paying curiosity (or no less than extra curiosity than you’d like). On this, it’s not significantly uncommon and definitely not value standing as much as take discover.
And the Truist Future card has some actual drawbacks. It has no common rewards program or sign-up bonus, amongst different deficiencies. I see it as a single-purpose bank card that, after the 0% APR promotional interval ends, is value preserving round just for true emergencies that require you to hold a stability past your assertion due date.