Promotional End

LOOBAH

Hi there,

I got a credit card a few months ago with balance transfers at 0% for 23 months. After these 23 months does the 0% end and will the APR shoot up to 15 - 20%?

If this is the case then do most people keep cancelling credit cards with good balance transfer periods when they end, and then get new ones with other long term 0% deals?

Thanks,

Lou

sistafromanothermista

LOOBAH wrote: »

Hi there,

I got a credit card a few months ago with balance transfers at 0% for 23 months. After these 23 months does the 0% end and will the APR shoot up to 15 - 20%?

If this is the case then do most people keep cancelling credit cards with good balance transfer periods when they end, and then get new ones with other long term 0% deals?

Thanks,

Lou

That's correct.

If you have a good credit rating then yes, another 0% card and BT is usual.
However some people find that when it comes to obtaining another card at 0% they are declined leaving no other option but to start paying the interest.

Always aim to clear the balance within the 0% promo period.