So you’ve read somewhere on the cerdit card website that you’re offered 0% on purchases for a specific amount of time. But what exactly does it mean? There are so many different things to consider when you get a credit card these days and you don’t want to be ripped off or sign up for something you know nothing about do you?…
Well you needn’t fear when it comes to 0% on purchases because it literally means that you don’t pay interest on the things you buy (purchases). Now that sounds pretty good doesn’t it? However, there are a few things you need to be aware of and a few things you need to watch out for.
You will often get 0% interest on purchases when you get a card that offers 0% on balance transfers. This you need to watch out for because if you’ve switched your balance because you can’t afford the interest and you’re intending to pay it off (or at least a good chunk of it) then you really don’t need to be paying interest on anything else do you; particularly not your purchases. I say this because there is often a difference in the amount of time you are given interest free on your balance transfer and the 0% interest you have offered on your purchases.
A common one here is 0% interest on balance transfers for a whole year, and 0% interest on purchases for 6 month. You see where the catch is. After those six months you start to pay interest on a credit card bill that you originally swapped to avoid paying interest.
Tags: 0 Balance Transfer credit cards, 0 purchases, purchases
