0% Interest Credit Cards

Woodski

Can anyone explain the 0% interest on credit cards

If I spend upto £3000 on a credit card that states 0%
interest for a specific period. Does this mean that I pay an equal
monthly amount over the 0% period to repay the £3000.

If this is how I understand it, which cards would you recommend.

Need_More_Money_2

Woodski wrote:

Can anyone explain the 0% interest on credit cards

If I spend upto £3000 on a credit card that states 0%
interest for a specific period. Does this mean that I pay an equal
monthly amount over the 0% period to repay the £3000.

If this is how I understand it, which cards would you recommend.

You only have to pay the minimum repayment each month (usually 3 or 5% of the balance). But you must repay the whole amount before the end of the 0% interest period or else you will then be charged interest on the remaining balance

Mercuryrising

First of all do you mean 0% purchases or balance transfers?

I'll assume you mean balance transfers.

And no, you don't pay an equal monthly amount. For the vast majority of the cards you pay a minimum of between 2 and 3% of the balance (the exact percentage will be in the Terms and conditions) outstanding. You will therefore pay less each month if you don't spend on it.