1. What is a 0% APR Credit Card?

A 0% APR credit card offers an introductory period where no interest is charged on purchases and/or balance transfers. This promotional period typically lasts 6-21 months.

2. How Does No Interest Work?

The calculation is simple during the promotional period:

Key Points:

• No interest is charged on balances during the promotional period
• Minimum payments are still required
• Standard APR applies after promotional period ends

3. Importance of Promotional Periods

Benefits: 0% APR periods allow you to pay down debt or make large purchases without accruing interest, saving significant money compared to standard rates.

4. Using This Calculator

Instructions: Enter your current balance and the length of your promotional period to confirm you'll pay $0 in interest during this time.

5. Frequently Asked Questions (FAQ)

Q1: Does this mean I don't have to make payments?
A: No, minimum payments are still required. Missing payments may end the promotional period.

Q2: What happens after the promotional period?
A: Any remaining balance will begin accruing interest at the standard APR.

Q3: Are there fees during the 0% period?
A: Some cards charge balance transfer fees (typically 3-5%) even during 0% APR periods.

Q4: Can the promotional period end early?
A: Yes, if you miss payments or violate card terms, the bank may revoke the 0% offer.

Q5: Is the entire balance interest-free?
A: Only purchases/transfers made during the promotional period qualify. New purchases may have different terms.