Student Credit Cards?!?!?!?

What does it mean by 0% Intro APR* on Purchases for 6 Months?!?!? I'm thinking of getting a student credit card since I'm a student, A senior in high school, and I'll be leaving for college this coming fall, and I need a credit card, so I'm going to get one, but I don't understand the whole "APR" thing. What does it stand for? What's it's purpose?!?!?!

Student Credit Cards?!?!?!?
APR stands for annual percentage rate. It is the percentage of interest the credit card company charges you on the balance. A 0% APR for six months means for the first six months you have the card you will not be charged interest. However, interest will be charged on any outstanding balance after the first six months.





When comparing cards you should look at what the APR is following the introductory offer. Also it is never a good idea to carry a balance on a credit card. In other words pay off the balance each month if possible.
Reply:As far as the 0% APR for 6 months that means you will pay zero interest for 6 months. Look and see what the interest rate is AFTER the six months, which will be listed as the APR. I forgot exactly what the letters stand for but all credit card interest rates are listed APR, it is the way the interest is calculated. If the interest rate after the 6 mo is higher than around 10%, keep looking.
Reply:dont do it i cant stress that enough my bf got one and now he owes over 4,000 dollers it may say 0% but they only sweet talk you and then hook you its how they get paid
Reply:APR - Annual Percentage Rate. It is a good idea to open a credit account if you are responsible. Using a credit card and paying off the balance every month will build a good credit history and allow you to qualify for other loans in the future.





However, if you are not responsible and do not payoff the balance or think , oh I'll be able to catch up next month. Or if you think of it as a long term loan. Those are bad ideas. After the 6 months, the interest rate is probably around 20% a year. That's a lot of money to be paying for a loan. Not to mention, if you are late on a single payment, the late fees are usually pretty high, and the APR will probably go up to 30 or 40%!





It is really up to you, but the temptation is very great if you are not careful.





Good luck!

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