Risks and Things to Watch Out For
While 0% intro APR offers sound perfect, they come with fine print that can impact your finances if ignored. Here are the main pitfalls:
Intro period expiration: Once the promotional window closes, interest applies to any remaining balance at the full APR rate.
Minimum payments still required: Even during 0% APR, you must make minimum monthly payments or face late fees and potential loss of the promotional rate.
Balance transfer fees: If you’re using the card to consolidate debt, expect fees of 3% to 5% of the transfer amount.
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