Question for those with 0 APR cards

[Anonymous]

For those with 0 APR cards, do you take advantage of the 0 APR and leave a balance on your card and pay just the minumum each month or do you just go ahead and PIF? Does leaving a balance affect your credit score? Wondering what my best option is.

Thanks in advance!

[newhis]

I use it all the time. I don't PIF until the last month at 0%. I don't pay minimum, I pay (balance) / (0% months left), so if I have 2,500 and 10 months I pay 250.

[Anonymous]

There's really nothing wrong with carrying a balance on 0% APRs, but you can still get a score ding for the utilization being too high on that card. I did 2 BTs recently to BofA, but kept it under 30% of the limit total. 

If you are going to carry a balance on a "deferred interest" program, it is wise to make your payments well above the minimum to insure you can pay off the balance before the 0% is up or you'll get hit with all the interest if there even a dollar due.

[minski]

I currently have two. One is carrying a balance. The other I PIF simply to keep my overall util low. I wish I could let the balance ride but I also hate seeing a balance on my budgeting software so I PIF probably a little too often and soon given that my money could be earning interest instead. 

[Anonymous]

Awesome thanks so much for all the info guys!!