0% APR credit card for 6 months, will I get a credit hit?
This could be easy and obvious, but if I don’t pay a cent until my 6 months is up, will I be taking any sort of credit hit?
Also, I want to build my credit, would paying off the card every month help to establish good credit? Or does it not matter if I have 0%APR for 6 months?
Thanks
Best answer:
Answer by B-bop
The 0% APR is a teaser rate for you to feel good about maxing out the card, then paying interest free for ONLY those six months. Your credit will take an inquiry (hard) hit for one. Also, ALWAYS pay off credit balances in full and on time and your FICO score will rise over time.
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The APR has nothing to do with your credit report. It is your payment history (and total balance) that affect your credit history.
APR has nothing to do with good credit.
The secret to 800+ scores is to charge a little something each month, and pay in full the day the bill comes in the mail.
End of story.
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