@skigirl916 wrote:Okay, so I know if you buy, for example, a refrigerator at Lowe's on 0% for 12 months, that if you don't pay off the balance in that 12 months, the interest that you would have paid and that has accrued all during that 12 months just gets lump added on at the end of the 12 months and you have this hefty additional chunk of a balance at the end. (That didn't actually happen to me - thankfully - because I could see the end date and the pending interest amount that would apply.)
But what happens with balance transfers that you get on a 0%? Does the same thing happen? Or are you truly given a 0% for the trial period, and only once that period is over, the higher APR hits?
Same question with trial period APR. What if you get a trial period of a crazy low APR, and then after that it's raised?
Hey, great question. So there are two distinctions in types of 0% cards. The store cards are typically called deferred interest like you said the interest is kept track of and if the entire promotional balance is not paid in time, you have to pay that deferred interest. In your case when the promotional balance was paid off, you're good to go.
For cards that have a 0% introductory APR whether it's on just balance transfer, sometimes it's on balance transfers and purchases. This is a true 0% APR period. It'll state the end of the promotional APR period. After that period is over, they begin charging you your regular interest rate. They can't go back and collect interest like they do on deferred interest cards.
The same as the would work for a trial APR, it's a true trial APR and not a deferred situation. Hope that helps 
Oz
@Anonymous wrote:
Yeah but to me as a consumer that sounds like okay no interest for 12 months then on the 13th month you'll start getting charged interest.
They make it clear that interest goes back to day 1 if not paid by the end of the promo period. What I don't like is that they leave it up to you to do the math on how much you need to pay each month. That can get confusing for people who carry balances that include both promotional and regular purchases.
From Lowes website:
**No interest if Paid in full within six months. Offer applies to purchase or order of $299 or more on your Lowe's Consumer Credit Card. Interest will be charged to your account from the purchase date if the promotional purchase is not paid in full within six months. Minimum monthly payments required. No interest will be assessed on the promotional purchase if you pay the promotional purchase in full within six months from the purchase date. If you don't, interest will be assessed on the promotional purchase from the purchase date. Depending on purchase amount, promotion length and payment allocation, the required minimum monthly payment may or may not pay off purchase by end of promotional period. Some or all of the minimum payment based on the promotional balance may be applied to other account balances. Regular account terms apply to nonpromotional purchases and, after promotion ends, to promotional purchases.
