What does 0% for 18 months on balance transfers mean?

What does 0% for 18 months on balance transfers mean?

The 0% APR balance transfer is the best of all balance transfer promotions because it means you won’t pay any interest transferred amount until after the promotional period. Qualifying for a promotional balance transfer offer usually requires you to have good to excellent credit.

Does 0 APR apply to balance transfer?

Card details To earn cash back, pay at least the minimum due on time. Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 15.49% – 25.49%, based on your creditworthiness.

What is the maximum limit for a balance transfer ANZ?

$30,000
Please note: The maximum total balance transfer amount is 95% of your available funds at the time the balance transfer is processed, or $30,000, whichever is lower.

What does 0% APR for 15 months mean?

What does 0% APR mean? A 0% APR on a credit card means that you won’t be responsible for paying your card’s ongoing interest rate for a certain period of time, typically 15 to 18 months. Depending on the card, the promotional APR will apply to purchases, balance transfers, or both.

What does 0 interest for 12 months mean?

In most cases, a 0 percent APR is a promotional interest rate that lets you borrow money at no cost for a fixed period, often between 12 and 18 months. During this time, you still need to make at least the minimum payment each billing cycle but you won’t accrue any interest costs.

What does 0 APR for 15 months mean?

What is a black Visa credit card?

What is a black card? A black credit card is a type of extremely exclusive credit card that is almost solely reserved for the ultrawealthy. Typically, the cards are available on an invitation-only basis. The threshold for entry into this elite echelon of card ownership is incredibly high, as are the annual fees.

Can balance transfer be used as cash?

The process works by transferring money from one account to another and offering a low interest rate as a reward to you. You generally receive a credit card that allows you to charge things or receive cash. You may wonder if there are advantages and disadvantages to balance transfers. The answer is yes.

Does a balance transfer affect your credit?

A balance transfer can be a great tactic to manage debt, but it can affect your credit score when it changes your credit utilization rate, the average age of accounts or the number of inquiries on your credit report.