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A 0% intro APR credit card lets you avoid paying interest on purchases or balance transfers for up to 21 months. This can save you hundreds or thousands of dollars when financing large purchases ...
For example, if you transfer $6,000 in credit card debt to a card offering 0% intro APR for 18 months, you could pay off the full amount by making $333 monthly payments with no added interest charges.
Debt to pay off. Monthly payments. Time to pay off. Interest/fees paid. Card with 15-month intro APR offer. $5,150 (principal balance + BT fee) $300. 17. $150 BT fee, $12.10 in interest
And most notably, this card provides a 0% intro APR period on purchases and balances from the first 15 months from account opening. After that, a 20.24%, 25.24%, or 29.99% variable APR.
Balance transfer credit card. A balance transfer card allows you to combine debts from other credit cards — usually credit cards from other companies only — at a temporary 0 percent interest rate.
Using the example above, if you take out a $5,000 debt consolidation loan with a three-year term and an 11 percent fixed interest rate, you’ll pay $164 per month and $892.97 in interest over the ...
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