How do I know when my 0\% APR ends?

How do I know when my 0\% APR ends?

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.

Can the APR on a credit card change?

Credit cards typically have three variable APRs—one each for purchases, balance transfers and cash advances. The APRs you receive will depend on the card, a benchmark rate and your creditworthiness when you apply. Most credit card APRs are variable and can change over time.

Why do some credit cards offer 0\% APR when you get the card?

A 0\% APR credit card offers no interest for a period of time, typically six to 21 months. These cards can help you consolidate credit card debt by transferring balances to a balance transfer credit card or pay for new purchases over time without incurring interest.

What is introductory APR?

What Does Introductory APR Mean? Annual percentage rate (APR) refers to the interest rate—stated as a yearly rate—that credit card companies charge if you carry a balance. And the definition of introductory APR is a lower-than-usual APR that you get for a set period of time when you open an account.

What makes your APR go up?

Consistently paying less than the minimum payment amount can also generate additional interest rate charges on your monthly statement. High credit card balance: If you continually carry over your growing credit card balance from the previous month, your credit issuer may increase your APR.

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 does 0 percent APR work on credit card purchases?

If your credit card offers 0 percent intro APR on both purchases and balance transfers, you won’t be charged interest on either purchase or transferred balances until your promotional APR period ends.

What happens when your 0\% APR ends on a balance transfer?

When your introductory 0 percent interest ends on a balance transfer credit card, your card issuer will start charging interest on any transferred balance that isn’t paid off. This is why it’s a good idea to try to pay off your transferred balance in full before your intro APR ends.

What is a good APR for a first time credit card?

A good APR for a first credit card is anything below 20\%. The best low interest first time credit card is the Bank of America® Customized Cash Rewards Credit Card for Students because it offers introductory APRs of 0\% for 15 months on purchases and 0\% for 15 months on balance transfers, with a regular APR of 13.99\% – 23.99\% (V).