I am going to Japan next summer, and will be needing extra cash.
Im going to bring my credit card with 1k on it for expenses. But I also want another credit card with another at least 1k on it for more expenses and food.
I see a lot that say 0% APR for first 6 months (on purchases and transfers etc)
Is that interest? does that mean that if I buy something today, it wont charge me interest until 6 months pass?
Does that also mean. that if i get the card today. but i dont make any purchases on it until June 2008(9 months) will the 0% apr still count? does it start from when i get it..or from my first purchase?
2007-10-10 11:39:35 · 4 answers · asked by Anonymous in Business & Finance ➔ Credit
in response to first answer.
I was originally going to increase my limit. but since im planning on spending $2000 in japan. im not sure if the 0% apr first 6 months is better..than just having normal interest.
2007-10-10 12:00:58 · update #1
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2007-10-11 00:18:17 · answer #1 · answered by caleb b 2 · 0⤊ 0⤋
I think it is 6 months from when they open the account, not from when you receive the card or from when you use it.
0% refers to the interest rate, meaning that you will not be charged interest on the things on which they offer 0% APR during the first 6 months. Fees still apply. So do interest on other things (read it carefully).
You will be charged interest at a very high rate, probably between 15% and 35%, as soon as the 0% time ends, so make sure to pay off the entire balance while it is still at 0%.
2007-10-10 12:15:36 · answer #2 · answered by StephenWeinstein 7 · 0⤊ 0⤋
The special offer 0% interest starts from the date you get the card. If you charge on it, there won't be any interest; however, you will still have to make at least the minimum payment every month. If you fail to pay, you will get a late fee and your account will go to the default interest rate.
Why don't you ask you current credit card to increase your limit. If you have a good on time payment history, they may do it.
2007-10-10 11:48:30 · answer #3 · answered by bdancer222 7 · 0⤊ 0⤋
it only means you wont get charged interest. there are some cards that are 0% interest rate for 12 months which is fantastic.
Japan is awesome, you will end up spending more than what you planed. haha
2007-10-10 13:25:33 · answer #4 · answered by ★→Damian←★ 4 · 0⤊ 0⤋