What happens at the end of the zero interest time period?

What happens at the end of the zero interest time period?

Depending on the card, this special interest rate will apply to purchases, transferred balances or both. Once this period is over, you’ll be charged a new interest rate and will owe interest on any unpaid balance on the card. Card issuers offer these promotional rates to encourage new card signups.

Can I extend my 0 credit card?

Although you can’t exactly extend a 0\% APR promotional period, you can apply for a different credit card with a new 0\% introductory APR offer. Just make sure you’re applying for a new credit card with a different issuer — and you can transfer your existing balance to that card.

What does 0 introductory APR for 15 months mean?

A 0\% APR means that you pay no interest on new purchases and/or balance transfers for a certain period of time. The best 0\% APR credit cards give 15-18 months without interest. And if you don’t pay off your balance by the end of the 0\% intro period, you’ll have to pay interest on whatever balance remains.

What happens when your 0\% APR period ends?

If you pay off your purchases in full before your 0 percent intro APR period expires, you won’t pay any interest on those purchases. But if there is a balance remaining on your credit card after the intro period ends, your credit card issuer will begin to charge the standard interest rate.

How do I find the end date for my Intro Apr?

If you are having trouble finding the end date for your intro APR on your credit card statement, you can check your online account or app for information. If you’re still not sure, you can call the number on the back of your credit card and ask a customer service representative to check your account.

What happens when your 0\% interest period ends?

But that promotional period doesn’t last forever, and eventually, you’ll be subject to a variable and ongoing annual percentage rate that can get quite expensive. Here’s what happens when that period of 0\% interest ends, how to avoid the sticker shock and how to manage your card afterward.

Is a 0\% intro Apr credit card worth it?

If your 0\% intro APR card doesn’t offer any long-term benefits such as rewards, then it might not provide much value beyond its interest-free window. A general rewards credit card would prove more worthwhile.