Purchase card
Cards & borrowingA credit card that offers a low or 0% rate on purchases for a period.
Overview
Purchase cards are useful for spreading the cost of large expenses.
Interest applies after the promotional period ends.
Why it matters
- It can lower costs if repaid on time.
- It can help cash flow for big purchases.
- Missed payments can remove promotional benefits.
FAQs
Is a purchase card the same as a balance transfer card?
No. Purchase cards focus on new spending, while balance transfer cards focus on existing debt.
What happens after the promotional period?
The standard interest rate applies to remaining balances.
Related terms
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