All credit cards that offer 0% Intro APR thrive on suckers who can't repay in time. You probably know that, but in case you don't, be careful.

The word "new", not just to the forum, but to credit cards in general, inspires me to reach out here. And, welcome to Flyer Talk! :)

The prior post advising care be taken to the 0% APR is agreeable. And, your initial question was answered. (Surprise that you didn't even know that when you applied).

However, a 0% APR is not inherently a negative. It can serve a wonderful purpose IF one plans and commits to be accountable on a monthly basis to ending the year with a $0 in the credit card balance at the end of the promo. Rejoice that you have a "break" in financial management with this promotion but KEEP an eagle's eye on that financial management as it is yours and yours alone. Don't think of it as actual money that you have to spend through.

Take a pledge that you will use the bank's money to advance yourself not with stuff, but needful spending, pay on time and more than the minimum payment, and when you see the end near, double your efforts to make those last two payments pay off the entire balance.

0% APR question
 

It's calculated on the daily balance. You have all the numbers now you need to solve the equation.

Hi Walkingin.... welcome to FT.

There are great calculators at Bankrate.com that can help you figure out your interest expenses.

My suggestion is pay that puppy down asap, because that interest rate will kill you! If you can make the 1000 before the interest kicks in, all the better. Good luck.

0% APR question
 

About $16.38 in interest

Discover 0% intro APR
 

There should be disclosure about the 0% apr that is supposed to explain your coat of credit. In short, what this means is that the promotional period, where no interest is charged on balances, will end in 12/2015, afterwards the normal rate will apply. Best advice is to not carry a balance or keep the full payoff amount in an interest bearing account and payoff the full amount when the promotional period ends.

Discover 0% intro APR
 

You probably are best off directing questions to how credit cards work to financial advice forums, or to one of the various consumer financial agencies which have guides to that topic. should be easy to find on Google.

It may be 0% APR, but I'm sure it has a "transfer fee", which is usually 3%. The only card I know that has 0% APR and a 0% transfer fee is the Chase Slate. And unfortunately, my 15 months of 0% APR is running out this month.

0% Balance Transfer CC
 

Best options out there ? Chase Slate ?

Id prefer 18 months if possible, but I am looking to eliminate some CC debt, just paid off about 12k, and looking to pay off this 15k... College really f#$#( me :)

Any thoughts or help is appreciated !!

Thanks

Chase Slate has no BT fees and 0%.

Otherwise Citi Simplicity.

Got 18 months 0% interest rate with Barclay, Discover and Citi plus offers from other banks.

Good for you! Chase Slate is the only major 0% APR CC that doesn't have a transfer balance fee. See how big/small credit line you can get with them, then find others.

In the meantime, renegotiate with your current CC. If your acc. is in good standing, they might lower your APR right away. The worst that can happen--you lose 10 minutes of your time.

Are balance transfers from other cc limited to the extended credit limit on the Slate? For example can I transfer a 25k balance from either a credit/charge card to the Slate if the CL is only 15k.

Absolutely the best offer is Slate.

Here's what I did. Initially one takes a big hit with the BT and the utilization.

If one has other Chase cards, start transferring portions of the CL over to the Slate so the percentages decrease. One doesn't need big CLs to spend on if one has large balance on Slate due to BTs. That year and a half goes quickly.

When the utilization decreases, the score recovers faster. But, caution. No new spending if one can't pay it off. The temptation is to jump back in especially with an attractive travel bonus. Pledge to pay off minimum spend ASAP for the bonus. Accelerate the payments on Slate after a few months.

RE: renegotiate in the meantime

Regarding Discover, this is a good idea. Call and ask for 0% for 6 months on purchases. My request was turned down; was told I could have 12 months instead! :) You can use this stratgically to bypass their constant BT offers with fees.