I need to make a purchase for $5,000. I was going to get a loan from the bank but then I got an offer for a 0% interest credit card and thought that would be great…I know how the whole thing works and it is limited to 6 months and then jumps up or whatever..But this is what I was wondering..If I were to put a $5k purchase on the card how long would they give me to pay it off?? How much would they expect each month??? With the bank you can set up the payments due by the amount of time on the loan but on the card?? Does anyone know if there is a standard percent of the amount you owe them or anything that they want back each month on a credit card purchase???
Tags: amount of time, Interest, CreditRelated posts:
- Qualifying for Zero Interest Credit Card
- Credit Card Interest Rates Can Vary Considerably
- Low Interest Credit Card Help
- 0 Percent Interest Credit Card Offers
- Using a 0 Interest on Balance Transfer Credit Card for Managing Credit Card Debt
With 0%, you get it for 3,6,9,or 12 months and then it goes to a certain rate depending on your credit. You can take however long you would like to pay off the bal, but you will accrue interest after the promo ends on the card. Payments are calculated 2% of the total balances. So if you made a $5000 purchase, your payments would be right around $100 a month. Hope this helps!