what would be minimum payment with no interest financing???

Question

i bought a laptop and camcorder with circuit city credit card.. no interest for 2 years, purchase was $3000.. how much would my minimum payment be?

Answer 1

Good job getting the 0%.

It depends- the lendor usually wants you to make a dent in the debt, but they also want you to have debt left when a higher interest rate kicks in, so it would probably be less than $100. Some websites tell you how much it will be a month, but that's usually for constant interest payments.

Answer 2

I think that you will receive a statement in the mail. The minimum payment will probably be small, like 2 or 3 percent of what's due. 2 percent of $3000 is $60.

If you want to pay it off in full in 24 months, pay $125 per month, or more.

Answer 3

I don't know what they will say your minimum is, but I would pay them $125 per month for 24 months so that my balance would be zero before the no interest period ended. Companies will often offer "no interest" financing, but they will charge the interest retroactively if a balance still exists at the end of the no interest period.