APR on A 0% credit card

Tintin100_2

Hi,

I am about to transfer £7000 to a 0% credit card how does the APR work on this?

Or does it not effect the &k transfer?

Any help appreciated

Thanks

Tintin100

Fruit_and_Nut_Case

Tintin100 wrote: »

Hi,

I am about to transfer £7000 to a 0% credit card how does the APR work on this?

Or does it not effect the &k transfer?

Any help appreciated

Thanks

Tintin100

Not sure what you mean. I think the clue is in the 0%

Tintin100_2

So does this mean there would be no minimum payment?

R_P_W

Tintin100 wrote: »

So does this mean there would be no minimum payment?

Apr has nothing to do with minimum payment.

The card terms and conditions will tell you what the min payment will be!

Trentenders

On good faith that this isn't a wind-up...

APR relates to the amount of interest you pay and is unrelated to the minimum amount that you would need to pay each month.

Typically, minimum payments will be a minimum amount (say £5), or a percentage of the balance (say 1%), whichever is greater. You will need to read the terms and conditions to find out waht yours is (your monthly statement should also confirm this amount).

grumbler

Trentenders wrote: »

..
APR relates to the amount of interest you pay...

In the context of this thread it's more clear to say that it relates to the amount of interest charged

CLAPTON

Tintin100 wrote: »

Hi,

I am about to transfer £7000 to a 0% credit card how does the APR work on this?

Or does it not effect the &k transfer?

Any help appreciated

Thanks

Tintin100

usually you pay a fee for the BT so there is a cost for the credit

the APR equivalent depends upon how quickly you pay the debt off