How Should I Pay Off My $7,000 0% APR Credit Card Before Interest Hits

"First and foremost, it's worth noting that when you are offered a card with a promotional rate, that rate is only going to last for a limited period of time. This is true whether you get a 0% balance transfer offer or a card with a 0% APR on purchases for a set time after account opening. The 0% promotional rate usually lasts around 12 to 15 months,"

"once the 0% rate ends, then any remaining balance due on the card will be subject to interest at the card's normal rate. This could mean that your rate goes from 0% to upwards of 20% overnight. When that happens, you might be able to get another 0% balance transfer card and transfer the remaining balance to it, but there's no guarantee of that. Further, most balance transfer cards charge a fee for transferring a balance - usually around 3% to 4% of the amount."

A $7,000 balance on a card with a 0% introductory APR requires a plan before the promotional rate expires. 0% promotional APRs commonly last about 12 to 15 months, though issuer terms vary. Once the promotional period ends, any remaining balance becomes subject to the card's regular APR, which can jump into the 20% range. Transferring the balance to a new 0% offer may be possible, but most balance transfers charge around 3% to 4% and approvals are not guaranteed. Repeatedly shifting balances adds fees and can stall actual payoff progress. Focus on reducing principal during the 0% window or securing a low-cost payoff option.

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