OFFER 04 PROMOTIONAL APR ENDED
The statement OFFER 04 PROMOTIONAL APR ENDED is a credit to CITI cardholders representing a line item in their report wherein the entry OFFER 04 MOVED TO STANDARD PURCH charge is compensated.
Offer 04 is the offer of a 0% balance transfer, normally with CITI cardholders. It is a promotion for customers that have operated for at least six months with CITI. Those who are new customers may obtain the same benefits but the line item says INTR for “introductory” (this changed in October 2022 and apparently all promotions are the same line item, without INTR code)
This promotion is, as stated above, of 0% APR (Annualized Percentage Rate, as you know), otherwise, the code would be Offer 15, or Offer 05, depending on the promotion.
With a promotional APR, such as this one, the unpaid balance does not begin accruing interest until the promotional period ends. It does not accrue interest because the OFFER 04 code is actually a 0% rate.
A credit card’s promotional rate, or promo rate, is a low-interest rate offered on your credit card balance for a certain period of time. The promotional rate is often an introductory (code INTR) interest rate only offered during the first few months after you open the credit card account. Occasionally, some credit card issuers, such as CITI and AMEX offer promotional rates to existing credit card users.
After the 0% promotional APR ends, you can decide if you keep the card or not.
How To Calculate Interest After Promotional Period
If you still have unpaid balances after the entry OFFER 04 PROMOTIONAL APR ENDED, those will be charged at the normal APR. To know how to calculate the interest rate after the promotional period ends, go here.
To do this, you need to know your standard APR, which appears on the statements.
I am David, economist, originally from Britain, and studied in Germany and Canada. I am now living in the United States. I have a house in Ontario, but I actually never go. I wrote some books about sovereign debt, and mortgage loans. I am currently retired and dedicate most of my time to fishing. There were many topics in personal finances that have currently changed and other that I have never published before. So now in Business Finance, I found the opportunity to do so. Please let me know in the comments section which are your thoughts. Thank you and have a happy reading.
Consumers who received this charge as a line item in their statement, usually also received the following ones, which might be related:
We explain, first of all, how to calculate interest after the promotional period, after a debate between readers in the comments section.
We have analyzed the most common charges that our readers are receiving. The majority of them coming from Fidelity.