How do 0% apr on purchases credit cards work?

I have seen a credit card from capital one that is 0% apr on purchases for 12 months. I want to make one purchase for about 鎷?500. If I paid this sum off in 12 months would I not pay any interest at all? It all sounds too good to be true.

How do 0% apr on purchases credit cards work?

Well definitely examine the fine print, but it%26#039;s not too good to be true, because they figure you%26#039;ll take on a nice credit card-using habit and finish the 12 months with a nice fat balance that%26#039;ll face interest (enough people will, the promotion pays off for them).

Also, some people will be late on a payment, and most likely the good deal is off when that happens.

Basically, if you are disciplined and prudent you can benefit from the poor behavior of undisciplined slobs like me who they really make money off of.

Additionally they make money from merchant%26#039;s fees when you make purchases, so they still get something in any case.

How do 0% apr on purchases credit cards work?

APR (annual percentage rate)rate charged over a 12 month period on the outstanding balance got it !

How do 0% apr on purchases credit cards work?

it is a hook.once they get you,you will probably not change cards when the interest rate appears.........If you have GOOD .make that REAL GOOD discipline.it is great I don%26#039;t.............have that much discipline.....

How do 0% apr on purchases credit cards work?

If you really NEED the 1500 pounds of item that you are going to purchase and it not what you WANT. That is how credit card companies get consumers to spend, and most like consumers will NOT be able to pay back, because they are so used to charge purchases to this account, and thinking is 0% interest, after things got out of hand, it is too late. The high interest rate had kicked in after the special introductory period ended.

But yes, it is true that if you pay off the balance WITHIN the 11 month (to be on the safe side make it 11 months), then you don%26#039;t pay a pennies interest. But DO PAY ON TIME and do NOT charge over the credit limit, otherwise there might be other fees and charges. DO READ YOUR TERMS CAREFULLY. Because we can give you GENERAL idea, but it really comes down to the terms that you agreed with this particular credit card company. Be a smart consumer!!!

How do 0% apr on purchases credit cards work?

It is all as it sounds.....as long as the whole balance is paid off before the end of the interest free period. If not, they will charge you around 19% per annum on the outstanding balance.

If you%26#039;re disciplined enough to pay it off - it%26#039;s a good thing.