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  1. #1
    gbc1
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    Default Question about 0% intro APR and interest

    I recently received a citibank thank you preferred card which i believe has 0% apr on purchases. I was wondering does this mean i owe no interest on purchases for the entire introductory period?

    say i spend $1000 and pay $500 and do not pay the next $500 until the next statement. would i owe any interest? would i not owe anything if i pay it all off within the intro period?

    here was some infomation about the card

    https://www.accountonline.com/ACQ/Di...DE=&AAPID=&c=Y

    Purchase APR: 0% Intro APR on purchases for 15 months; after that the variable APR will be 12.99%-20.99%, based on your creditworthiness1

    Balance Transfer APR: 0% Intro APR on balance transfers for 15 months; after that the variable APR will be 12.99%-20.99%, based on your creditworthiness1
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    Reply With Quote Reply With Quote     Apr 27, 11, 5:46 pm
  2. #2
    Mogul of Pineapples
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    Quote Originally Posted by gbc1 View Post
    say i spend $1000 and pay $500 and do not pay the next $500 until the next statement. would i owe any interest? would i not owe anything if i pay it all off within the intro period?
    If the promo is 0% on purchase for 15 months, that means during the first 15 months you have the card you will not be charged any interest on purchases. After 15 months interest will start accruing normally. Does that make sense?
    Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.

    Current Cards:     American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
    Primary Everyday Card: American Express Blue Cash
    Primary Travel Card: Citi Thank You Premier
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    Reply With Quote Reply With Quote     May 2, 11, 1:25 pm
  3. #3
    jaywalker
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    Threadstarter....I will go ahead and state the obvious and say always do research before hand. In this day and age there is no reason to not research when everything is available on the web. (That's how I stumbled on this forum)
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    Reply With Quote Reply With Quote     May 9, 11, 1:18 pm
  4. #4
    sdfinch
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    If you're trying to build credit, you may not want to pay off the card that fast. If not, pay that baby off asap!
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    Reply With Quote Reply With Quote     May 17, 11, 9:40 am
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