0 purchase credit cards explained (+ 3 tips)

Explaining 0% purchase credit cards

What are 0% purchase credit cards?

0% purchase credit cards are credit cards which do not charge you any interest on your purchases over a specific term

0% purchase credit cards will usually offer their 0% term for a limited period of time(a promotional period), usually from 3 months to 30 months.

0% purchase credit cards can be simply explained by their 0% initial purchase term and their high standard rates which follow. You should always check what rate your 0%vpurchase credit card will convert to after the 0% purchase term has come to an end.

0% purchase credit cards will allow you to carry your balance over from one month to another month without charging you any interest as long as you meet your minimum payment requirement. A 0% purchase credit card can be defined as an interest-free loan depending on how you use it.

If you fail to keep up on your monthly minimum repayments on your 0% purchase credit card then the credit card provider may terminate the 0% purchase credit card offer and you may then begin to be charged interest on any balance you are currently carrying.

In any case, once the 0% purchase credit card term ends you will begin to pay interest on any balance you are currently carrying on your 0% purchase credit card.

How to get a 0% purchase credit card?

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0% purchase credit cards are usually reserved for people who have high credit scores.

You can now use a credit card providers eligibility check to see if you are eligible for a 0% purchase credit card before applying for one.

If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.

You can also contact the debt charity “Step Change” if you are in debt and need help.