I mean, the price of the product is the same, I’m taking a loan for the duration of the credit but paying no interest?
What’s the catch?
I can keep my money making a bit of interest instead of giving it right away and without increasing the price of what I was already planning to buy. When or why wouldn’t I choose 0% credits?
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.