What Happens When Your 0% Introductory Offer Ends?

The standard APR kicks in once the 0% introductory period ends. If you haven't paid off what you owe by then, you'll start getting charged interest on the remaining amount. This would lead to higher monthly payments or a longer period to pay off your debt.

You can find your standard APR in the card agreement sent to you. You can also call your card issuer to ask for it. Make sure to pay off as much as you can before the interest-free period ends. If you can clear all your debt before then, you won’t need to worry about any unexpected expenses derailing your budget and payment plan.

Not everyone can pay off their balance before the introductory period ends. If you can't pay off the whole amount, try to pay as much as possible. The more you pay down, the less you'll owe when the period ends. Even if there's some balance left, it will be smaller, and the interest on it will be less. This way, you're making future payments easier while keeping interest charges as low as possible.

If you find yourself in this situation, have a strategy in place to manage the remaining debt effectively.

Transferring the Balance to Another Card

An option you can consider is to transfer the remaining amount to a card with a new 0% introductory offer. This move can provide you with additional interest-free time to pay down your debt. Be sure to calculate how much you can save on this new transfer, taking into account the balance transfer fee and the terms of the new card. Also, note that another application will hurt your credit score.

Creating a Repayment Plan

Developing a detailed repayment plan is essential if a balance transfer isn't suitable. This plan should include a realistic budget that allocates funds toward debt repayment, taking into account your income, expenses, and the interest rate on your remaining balance. Use online tools and calculators to visualize your repayment timeline so you can adjust your strategy as needed.

0% APR on new purchases means you won't be charged any interest on the purchases you make with the card until the offer expires. This offer is useful for large purchases you plan to pay in installments. Similar to 0% APR on transferred balances, pay off any remaining balances to avoid being charged the regular interest rate on the remaining balance.

Not all balance transfer cards offer this. On our list of the best balance transfer cards, only Citi Simplicity Card offers both 0% Introductory ARP on transferred balances and new purchases.

Always read the fine print since the length of the introductory period for balance transfers is not the same as that for new purchases. Going back to the Citi Simplicity Card, this card has the longest 0% introductory APR on our list, an impressive 21-month 0% interest period. However, it only offers 12 months of 0% intro APR on new purchases.

When paying off the balance isn't an option, explore alternatives to manage your debt and avoid interest costs.

To further guide you in navigating the complex world of balance transfers, here are some of the most commonly asked questions on the topic, answered for your convenience.