What happens when the 0% interest" time period is up?

When the "0% interest" time period is up, the promotional interest rate offered by the credit card issuer will no longer be applicable. At this point, the regular interest rate, also known as the Annual Percentage Rate (APR), will be applied to any outstanding balances on the credit card.<br /><br />Here are some key points to consider:<br /><br />1. **Regular Interest Rate**: The APR is the annual interest rate charged on outstanding balances. It is usually higher than the promotional rate.<br /><br />2. **Billing Cycle**: The change from the 0% interest rate to the APR typically occurs at the end of the billing cycle during which the 0% rate was in effect. For example, if the 0% rate period was from January 1 to March 31, the APR would start applying from April 1.<br /><br />3. **Outstanding Balances**: Any balances that were accumulated during the 0% interest period will now start accruing interest at the APR rate.<br /><br />4. **Promotional Period**: The 0% interest rate is usually a promotional offer to encourage new cardholders to use the card. It is not permanent and is subject to terms and conditions set by the credit card issuer.<br /><br />5. **Grace Period**: Some credit cards offer a grace period after the billing cycle ends, during which no interest is charged if the balance is paid in full by the due date. This grace period does not apply once the APR has taken effect.<br /><br />6. **Minimum Payment**: If you only make the minimum payment required each month, the remaining balance will continue to accrue interest at the APR.<br /><br />It's important to review your credit card agreement and understand the terms of the 0% interest rate promotion to avoid any unexpected charges. If you have any questions or need further clarification, it's advisable to contact your credit card issuer directly.