Comments on: 0% Credit Cards: No Interest on Purchases for up to 12 Months (Updated!)

By: Dan

Dan — Mon, 12 Oct 2009 02:06:55 +0000

Avoid these cards!

By: Jean

Jean — Tue, 18 Nov 2008 23:08:13 +0000

For years my husband and I have had 0% APR cards. When the term ended we transferred over to another card. Our latest card has been with Advanta and we still had about 9 mos remaining at 0% APR. Was notified by mail today that our current balance of $2K was now going to be having a 27% APR. So much for our very high FICO score (in the high 700’s) giving us much of an advantage. The banks are taking away these cards now — not 2nd or 3rd Quarter ‘09. Just signed up for a 0%/0 bal. transfer fee with US Bank and wonder how long it will take for them to run this one up.

By: 0% Credit Cards

0% Credit Cards — Fri, 14 Nov 2008 23:14:54 +0000

But all 0% credit cards are not created equal….

Is the 0% APR offer on balance transfers only, or on both new purchases and balance transfers?
Are there balance transfer fees?
Are minimum purchases required to maintain the 0% APR?
What else may trigger a higher interest rate during the intro 0% APR period?

By: Danielle

Danielle — Thu, 13 Nov 2008 22:39:32 +0000

Also the Cap1 card I have reduced its minimum payment amount in the last few months, if that is true of these Cap1 cards then it might make a more lucrative deal to make interest off a high yield savings account using money from the 0% offer.

By: Danielle

Danielle — Thu, 13 Nov 2008 22:23:47 +0000

I have a Chase card at 0% promotion till Aug 2009 right now. I used it to transfer a balance that was getting charged an interest rate as I furiously try to pay it off.

Any truth to the rumors that these kind of 0% offers might dry up in 2Q or 3Q 2009 (aside from requiring a higher credit score to offer them)?

By: Yvon Thea

Yvon Thea — Mon, 10 Nov 2008 13:05:13 +0000

I have bought many items like SONY COMPONENTS, ACER LAPTOP, and a SONY CAR STEREO using the 0% interest option of my credit cards. Just be sure to pay the minimum amount due every month so that there will be no interest charges.