New to using 0% interest credit cards - do you still use your other cards in the meantime too?

bambilegs

Afternoon, happy Sunday.

I’ve recently opened a credit card where I pay no interest on purchases for the first 4 months.

Now that’s all fine and dandy. 

As this is my first 0% interest credit card for an extended period of time, I wanted to ask those who use them often or have one, do you still use your other credit cards that aren’t 0% in the meantime for anything, or is it best to simply stick whatever I buy on the 0% card and start using the other cards I have again when the offer is over? Or do you only use your 0% card for big purchases?

Also, with the 0% do you tend to pay a chunk off each month and pay the remainder just before the interest free period is over OR do you just sort of put the amount of your spends in a separate account and just pay it off in one go when the offer is due to end?

Any other tips on managing 0% interest credit cards would also be useful or sharing how you personally manage them would be helpful too.

Thank you

molerat

I would use the other cards for a low amount transaction every couple of months or so.  Keeps the card in use and reduces the likelihood of the card not being renewed.

If on a promo I just pay the minimum by DD and set aside the money to pay it off at the end.  Be aware that promo end dates may not align with statement / due dates so you need to bear that in mind.

Brie

yes definitely put all your spending on the 0% card until you get up near your limit.  Minimum DD set up as mentioned by molerat.  

And if you keep your other cards clear they may come up with a suitable 0% balance transfer deal at the right time to transfer any balance on the current card when the deal ends.  

MrFrugalFever

You must ensure at least the minimum amount is paid each month by the statement payment due date to avoid late fees and removal of your promotional offer. Given the short time in which your offer has been given, it would (in my opinion) only really be used to make a reasonable one off purchase that I knew I could pay in full at the end of 4 months. I personally would see no benefit in that term as you effectively get up to 56 days (nearly two months) interest free if pay your cards off in full all the time anyway.

Whilst you are utilising your promo card, i'd also put a small token gesture payment on your other cards just to register a transaction and generate a statement. This way the CC company(ies) will not think you've stopped altogether and mark it as closed on your reports.

GrumpyDil

In my experience it will take a lot longer than 4 months for any cards to be treated as inactive so I wouldn't personally worry about that with a 4 month spending card. 

Nasqueron

A card payment every 3-4 months is all that is needed, it's likely to be 12 months or so before they actually close it