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How 0% APR credits make money?
(lemmy.pe1uca.dev)
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this post was submitted on 26 Jun 2024
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Usually those are only 0% for a certain period of time. After that, the interest rates are typically higher than average.
So if you utilize it and pay it off completely during the 0% phase, they really don't make any money. They make money when you carry a balance past that, or if/when you continue using that line of credit after the 0% period has ended.
That's my understanding, anyway, as I have seen 0% APR offers, but they always are for a limited amount of time.
That, or there's some kind of massive penalty if you miss a payment or something. Definitely read the fine print lol.