0% APR?

[Anonymous]

And btw, i never carry balance since i started credit. My 0% APR from BoFA will already expired but i never carry balance on it, i always pay it full every month. So i was thinking trying to take advantage this AMEX of carrying a balance because it has 0% APR.

[Anonymous]

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@MstrPTato wrote:

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@Anonymous wrote:

No, i use the card for everyday purchase, but i won't pay the balance in full every month?

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I would say if you can pay, then you should. Unless you have a crazy savings account paying a great interest rate.

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I don't use my card if i don't have money to pay for it. i treat my cards like debit card.

[Anonymous]

I understand the whole time value of money thing, but unless you're investing it, it doesn't matter to the present case. 

"Taking Advantage" of the 0% offer by not paying in full necessarily involves increasing the amount you have on the card, which will have a negative effect on your utilization. So, yes, taking advantage of the 0% offer will hurt your credit score. However, utilization is just a snapshot in time, so once you pay the card off, it is as if you never let it get high to begin with.

If you are going to take advantage of the 0% APR, make sure you pay it off before 15 months have elapsed from your APPLICATION DATE. The 15 months is typically not based on billing cycles or when you received the card, and if you miss the (somewhat hidden) deadline, you'll have to pay your full APR on the amount you didn't pay for the entire 15 month period. READ THE FINE PRINT. Not all CCCs do it that way, but enough treat the 0% as really just deferring the interest that you should make sure.