Monday, July 11, 2011

Does 0% introductory APR mean no interest at all?

I was finally able to acquire my first credit card with Wells Fargo, and being that I am a college student, I was able to get the 0% introductory APR for 6 months. It's my first month using the credit card, and I spent around $300 so far, and I don't think I will be able to pay back the entire amount. On my account site, there is something called an "Outstanding Balance". Would this be the minimum amount I have to pay back? And if I pay that much, with the 0% APR would I not have to pay interest until the 6 months period is over?

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