topic Re: Does 0% APR extend until due date? in Credit Cards

Does 0% APR extend until due date?

folks19 — Mon, 30 Jan 2023 12:40:04 GMT

My promotional 0 percent APR is about to expire after my 15th cycle's closing date on February 10.

My question is whether I start paying interest immediately on the 10th, or can I wait until the due date and still avoid interest.

In my case, it's an Amex card, if that matters.

(I have the funds to pay the card whenever I have to.)

Re: Does 0% APR extend until due date?

K-in-Boston — Mon, 30 Jan 2023 14:30:22 GMT

The final date of the 0% should be listed on your statements near the end in the interest charge statement. If it says for example "0% through 01/29/2023," you will begin to accrue interest on 01/30/2023 regardless of statement or due dates. The rate is determined by the terms of the promotion or balance transfer, but it is typically the current purchase APR, in some cases the cash advance APR, and rarely something else.

Re: Does 0% APR extend until due date?

folks19 — Mon, 30 Jan 2023 17:10:43 GMT

@K-in-Boston Does that apply to purchases I made during this billing cycle?

Re: Does 0% APR extend until due date?

K-in-Boston — Mon, 30 Jan 2023 19:00:50 GMT

@folks19 wrote:
@K-in-Boston Does that apply to purchases I made during this billing cycle?

New purchases should be on the normal terms; you would have a grace period of no interest accrued until your due date provided you pay the complete balance, including any accrued interest, in full by the due date.