0% credit card - monthly payments?

[grandschemeofthings]

We're finishing some building work and would like to stick all the white goods and stuff on a 0% credit card to give our budget some breathing space. I've never done this before. Do you still have to make a monthly payment on a 0% card, or can you leave it sitting there for the full 12/24 month term and pay it all off at the end as a lump sum? If a monthly payment is required, roughly how much would it usually be? Looking to get up to a £10k limit.

I divide the total by 12 or 24 and pay it in equal amounts. You have to pay the minimum amount regardless.

Which is 10% of the total. You could pay the minimum, and then the rest at the end of the term.

Yes, you must still make monthly payments but there’s no extra interest owed until your offer runs out or you fail to pay the monthly minimum.
The monthly payment is a percentage of the amount owed (so theoretically it gets smaller as you pay off more with each passing month) or a set amount like £5, “whichever is greater” ie this will be the percentage of your £10k, really.

You need to check:
Are you better off getting a Do you actually need 0% interest on spending or on bank transfer (cash into your normal account or builder’s account)? Some cards will offer you both interest free, so you could do either. There’s usually a separate percentage fee for transferring cash into a bank account, I think.
Are you better off getting a small loan instead of a cc?
Martin Lewis site has good advice on which is best for certain needs/situation.

Usually it would be £100 a month minimum payment on £10k

Thanks all. Agree, I usually defer to MSE for this sort of thing. We could in theory pay for stuff up front so we don't need/want to pay interest on a separate loan as such, just to push some of the initial outlay further down the line a bit. If it's £100/month on £10k balance that works well and let's us hang on to some savings for a holiday and then pay it all off in a year or so.

We do this regularly. We have a direct debit for the minimum payment each month and then save monthly for the rest in a savings account for when the term ends. If you’re disciplined with it it’s beneficial as you are making money on savings whilst paying no interest.

My current M&S 0% card is 2.5% minimum payment.
I swap around 0% cards, spend on the current one, repay the minimum payment by direct debit monthly, until just before the end of the 0% period. Then pay the balance off in full and start again with another card.
Used to do it years ago but interest rates have been so low over the last 15 years that I stopped bothering. Have started doing it again over the last couple of years.

You do have to;

1. Make sure you save the money needed to repay the debt, not just spend extra.
2. Make sure you are on top of the admin, make the minimum payments in time and clear the balance before the 0% ends.

To add minimum payment will vary by card, ours is 3% so would be £300 on £10k

If you don’t pay the minimum monthly payment or make a late payment, you will lose your 0% offer.

@PhuckTrump thank you that's what I wasn't clear about. Think we'll go ahead and set one up. We will be militant about paying off the minimum and clearing it before the end of the 0% term.