Just got a BT offer from penfed. 0% for 12 months with 3% fee. I need to make a big purchase and was going to apply for a 0% intro par card but the BT would guarantee I have the limit needed and not have to get another Inq. Anyway. This wording baffles me. It is as follows:
“By taking advantage of this offer, you will immediately be charged interest on all purchases made with your credit card unless you pay the entire account balance, including balance transfers, in full each month by the payment due date. Subject to credit approval. A 3% balance transfer fee applies to each transfer.
Does this mean I will accrue an all other charges I make until the whole card is paid off? If 1 charge $100 will I be paying interest on this $100 until the BT is paid off??
Any help would be appreciated.