0% introductory APR for 12 months...make a big purchase?

Question

I just got a new credit card from American Express....blueCash everyday

It has an introductory 0% APR for the first 12 months

I will make minimum or more then minimum payment each month and pay in full before the introductory rate ends

But I will be charging about 60% of Credit line

IS there anything to know before doing this.
Can this be good or bad for my credit

I know you can't owe $1 or you may be charged with all the interest, again I plan on paying it off in full

but is this a good idea or bad idea to take advantage of this introductory offer like this?

Answer 1

its a good idea if you 100% know you can pay it off in time.



they give out these offers because they know some people will be unable to pay it off and make them rich.

Answer 2

It's not a bad deal if you meet all the terms.



The big gotcha is the 28% interest rate compounded back to day 1 if you make a late payment. A lot can happen in 12 months. Make sure you set up online automatic payment. They're not going to care if the post office was slow.

Answer 3

till the introductory contract also states that there are not any funds due for 12 months, then you ought to make the month-to-month funds. so a techniques as i am going to tell out of your question, it sounds as if like the provision is basically for 0% activity for 12 months. that means that you'll not be charged activity for 12 months on your stability, yet you'll favor to make the minimum month-to-month charge with a view to save it from being said as antisocial on your credit record. also, make constructive you examine the fantastic print. all those grants are solid in case you pays off the soundness interior the timeframe, yet numerous cases think about to pay each and every of the lower back activity in case you bypass a million day previous the 12 month mark without payonf off the soundness.

Answer 4

you keep putting this back up. why? you have your mind made up and it'll work only if you do actually pay off before the final due date. as for your credit score it'll drop with the 60%usage, and get itself straightened out by the time the offer ends with the full payment from U. if it were me, i'd put something down on the card in advance and keep the usage rate at 45% or less.