If a customer applies for a credit card or transfers a credit card balance, he will save money over the currency of the promotion as he will not be paying any interest. Though it should be noted that where the customer is transferring a credit card balance from an existing credit card company this is usually accompanied by a credit card balance transfer fee typically 2% to 3% of the amount transferred. Another point to look out for is that very often these 0% APR deals have a proviso in the credit card lender’s Terms and Conditions and that is the failure to make at least the minimum payment on time, during the promotion period, could result in the loss of the promotional rate. Remember to diarise the date the promotion ends as you will be liable for the prevailing APR, which could be as high as 15%, from the following month unless you are able to secure another 0% APR deal.
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