Credit card help...?
If I charge somthing with the 19.8% APR and pay off the charge withen the same billing period. Will the bill be the same amount I cahrged or what? Please let me know what I am getting into beforehand... Thanks in advance...
Answers:
the zero% APR is a teaser rate...if you max the card out, then pay the complete balance off before the 0% rate ends you pay no interest.
The company is hoping you max it out, then keep paying the 19.8% interest.
Check the terms of the card, do you have a grace period? If so, then if you use the card thru the month but pay the balance off...you pay no interest.
However, if you have a balance and charge more stuff they charge you interest for the whole month.
If you charge $10,000 for the month and send them $9,999 then you pay interest.
Good Luck
If you charge something and pay it off in the same billing period it should be what you charged. But some credit card companies will screw you over. My best advice to you is not to get that card and wait for one with a better rate that is also a fixed rate.
What will the credit card companies charge you when the 0% APR offer expires should be your main concern. Because the credit card company has already losing revenue by giving you a 0% APR credit card offer it could try to compensate with a higher APR after the intro period expires. Compare this APR with the APR's of other credit cards which offer similar services. You shouldn't get ripped because you fell into a 0% APR credit card trap. This feels bad afterwards. get all information about your APR rate at: http://www.credit-card-gallery.com/0_apr...
Exactly. You do not have to pay any interests if you ppay the entire balance at the end of the month.
Beware : money advance is not working the same way. You start paying interests from the day you put the charge on your account.
the 19.8 is the yearly interest rate...thats if you left debt on the card for the full year...but the monthly interest rate is different. If you charge something to the card and pay it off before the billing period ends...no interest should be charged
it depends on the card. Many credit card companies now do not offer a grace period. They start charging from the day you purchase it. You will have to check the company and ask. Or check your statement it will tell you.
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