2007-12-04 00:32:39 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
It means if you charge up $500 you have to pay back $500. Most of them have an ending date on them though and after that they charge interest. But if you pay it off before that date you won't pay any interest.
2007-12-04 00:37:58 · answer #1 · answered by Jeffrey T 4 · 0⤊ 0⤋
0 Interest On Purchases
2016-12-13 07:30:50 · answer #2 · answered by ? 4 · 0⤊ 0⤋
It means you won't be charged interest on purchases. Be wary of this. I have never heard of 0% interest on purchases. You will be charged if you take cash out on your credit card though. And this may mean you will not be charged for a certain number of days only, then you will be charged. I would check with the provider of this card about all possible charges.
2007-12-04 00:37:12 · answer #3 · answered by Anonymous · 0⤊ 0⤋
you only owe what you charge
however - miss a payment or even late, in some cases
NOW interest will add up from the date of purchase
on $100 you may owe an extra $2 for the generousity of your credit card company - and that 's each month until paid off
all the best
2007-12-04 00:37:21 · answer #4 · answered by tom4bucs 7 · 0⤊ 0⤋
Its a teaser rate, designed to get you involved. Most teasers last 6months, a few a year.
The best way to get "0%" perpetually is to pay off your balance in full each month. Most companies offer a 25-30 day grace period on purchases.
You can easily take advantage of this grace period by using your card, and then come payday paying it off in full, and then using it again. Assuming you get paid twice per month, you will never go over the grace period, will improve your credit, get a higher credit balance, and will always pay 0% interest.
2007-12-04 02:06:16 · answer #5 · answered by Cleobird 4 · 0⤊ 0⤋
It means you aren't charged any interest NOW but you'll end up paying it on your purchases anyway in the end. It's a gimmick to get you to spend more money than you can afford. If you make ONE late payment on this or any other credit card (read the fine print) they can hit you with amazingly high interest!
2007-12-04 02:45:03 · answer #6 · answered by Jane S 3 · 0⤊ 0⤋
Credit Card companies do this for a certain amount of time to get you to sign up for their card. It's called a teaser rate. After the certain amount of time is up, the interest rate goes up.
0% interest rate means that you pay back dollar for dollar on your purchases...there is no interest you have to pay on top of your actual spending.
2007-12-04 00:38:11 · answer #7 · answered by KathyS 7 · 1⤊ 0⤋
It's a teaser APR. You don't pay interest on purchases made for a certain time period, then later you pay like 19%. Look at the terms and conditions before you sign up for this.. They're not in business to give you a free loan.
2007-12-04 00:37:18 · answer #8 · answered by Bob Thompson 7 · 3⤊ 0⤋
Debbie is right. 0% on purchases only but not cash advances. This is probably introductory offer and if you miss
one payment or one day late the creditor will take your 0% away and charge you probably 15% so be careful.
2007-12-04 00:40:23 · answer #9 · answered by Lea 4 · 0⤊ 0⤋
That they wont charge interest on purchases.
2007-12-04 00:46:48 · answer #10 · answered by Anonymous · 0⤊ 0⤋