0% interest

[thebhoy]

How does 0% interest work? i have a credit card with 9 months interest free for purchases and so on, If i buy something at 200 pounds on my card do i need to pay it off in full come statement time for the 0% to apply for the next 8 months or just the min amount that they ask? I thought it was as long as the min amount was payed it would apply but my freind is sure u have to pay it off full!!!!!! thanks

[kazza12345]

you wouldn't get charged any interest for first 9 months as long as you paid the minimum amount off

[Loosehead]

You have to pay at least the minimum amount. They will not charge interest on the balance until 9 months have elapsed then any outstanding balance will be subject to their standard rate. Beware though do not use the card for a cash advance as that will probably be at the standard rate and your monthly payments will go to pay off the cheapest, ie 0% bit first leaving the cash advance to accumulate like a snowball.