How do 0% credit cards work?
0% interest rates are usually part of an introductory or promotional offer on a credit card, available for a set period of time.
Using and managing a 0% credit card
What do you need a credit card for?
0% interest rates might only apply to one transaction type, so think about the reason you need a credit card to focus your search. Introductory or promotional interest rates are available subject to status and eligibility.
Frequently asked questions on 0% credit cards
When you’re looking for a credit card, you might notice that some introductory interest rates are advertised as being available for ‘up to’ a certain number of months. That basically means you could be offered the advertised rate, but you could also be offered a shorter duration instead, based on an assessment of your personal circumstances.
Different rates of interest might apply to portions of your balance, depending on the transaction type, and whether a standard or introductory interest rate applies. You’ll find details in:
- Your monthly statement – the transaction pages include a breakdown of the interest rates which apply to your balance, along with any expiry dates.
- Your account terms and conditions – these are issued by post after your application is approved, and if the terms of your account have changed, so make sure you’re looking at the latest version.
A summary on 0% credit cards
A 0% credit card has an introductory or promotional interest rate for a limited period.
- 0% interest rates usually apply to a certain transaction type, e.g. card purchases or balance transfers.
- There might be an offer window – usually around 60 days – to make any qualifying transactions.
- When an interest rate expires, any remaining balance will be charged at the card’s standard rates.
- You could lose 0% interest rates if you don’t make payments on time, or go over your credit limit.
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Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.