Originally Posted by
bitterproffit
I did a large kitchen project and put it on a Lowe's card with 0% interest. I think I could pay it over 2 years.
I doubled the minimum payment because I was so nervous about the terms and conditions.
If you somehow mess up, you then owe interest based upon the entire time.
Really tight payment times, unfriendly payment options, etc. It was like roadblocks to pay on time.
I think the Ink card is better about that, but for someone who never carries a CC balance, having a CC balance was nerve wracking and I couldn't wait to pay it off.
So, I guess I would want to understand what happened if I missed a minimum payment or was somehow late before I took it on.
Ink Cash is a regular Visa card - I have it as well. At the end of the 12 months the interest rate just adjusts back up to the regular purchase rate (or BT rate as applicable). You're not required to pay off the balance within 12 months or face up to 12 months of back interest, as is the case with store cards like the Lowe's you mentioned. The worst that happens with a late payment is a $39 late payment fee or potentially the interest rate reverting back to your standard rate earlier...the card agreement will specify if so. Chase is very easy to set up and manage payments, set account alerts, etc. FWIW
Some of those store cards are a pain and you definitely have to stay on top of things. That said I've used store cards' 0% offers at various times for 25+ years and have never had any problems. Some issuers have made the process much better over the years - for example Home Depot & Best Buy, currently run through Citi, have reliable interfaces and automatic payment processes so I can ensure I get it paid off. Yet others lag behind and as you said, seem designed to make it hard! I do arrange for things to be paid off 1-2 months ahead of the deadline, though, just to be on the safe side!