This means that, unlike a statement balance, it will change depending on your spending. For example, let's say you spent $500 during a billing cycle, and another $50 after your cycle ends.
Credit cards have notoriously high interest rates, so carrying a balance can be costly. However, some cards offer a path to paying off debt quicker with an introductory 0% APR period. These cards ...
If you have 18 months of zero interest, for example, but don’t transfer your balance until four months after opening your new card, you’ll reduce your payoff time to just 14 months.
If you have a relatively small debt balance, you may opt for a shorter introductory APR offer in exchange for other ongoing benefits and card features you’ll use long-term. For example ...