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Monthly payments are determined based on your credit card balance, fees, and interest rates. Every bank uses their own formulas to calculate a minimum payment and here’s an example of a minimum monthly payment. If the card balance is below certain amount, say it is $25, your minimum payment will be equal to your balance. Otherwise, the minimum payment will be $25 or 1%-2% of your balance plus new interest and fees. Thus if you have a credit card with a 0% intro APR, your minimum payment will be 1%-2% of your balance plus fees. If you want to pay off the card balance in full by the end of the zero introductory period, then you should divide your card balance by the number of months to get your monthly payment. Note that if you continue making purchases during the introductory period, you should take them into account as well.

As for the 0% interest, it starts once you are approved for the card and activate it. If you make a purchase in two months after approval, you will have two months fewer to pay off the card balance at 0% interest. You can find popular 0% intro APR credit cards on our website.