You Can Save This Holiday With an Introductory Purchase APR – but There’s a Catch

Do you have $900 ready to spend this holiday season? Yeah, neither do we. And yet, that’s about how much the average shopper is expected to spend this year, according to the National Retail Federation.
Not everyone has the cash to pay for gifts and festivities upfront. And while putting your expenses on a credit card may be convenient, the average credit card interest rate is well over 20%. If you can’t pay off your bill right away, your debt can balloon quickly and land you in financial trouble.
While a credit card with an introductory purchase APR can give you some breathing room and enticing perks, there are definitely some pitfalls to watch out for.
An introductory purchase APR is a set amount of time when the new purchases you make on your card won’t accrue interest. It’s a helpful feature but could leave you with extra debt if you don’t have a plan to pay it down before the promotional period ends.
However, if you strategically use a 0% intro APR credit card, you can pay off those holiday purchases over time — typically nine to 21 months — without forking over additional interest. And you could even potentially earn some rewards.