Managing Cheerleading Expenses: Leveraging 0% Introductory APR Credit Cards

As a cheer parent, you're well aware of the financial commitments associated with competitive cheerleading. Annual costs can range from $1,500 to well over $5,000, encompassing tuition, uniforms, travel, and competition fees.

With tryouts approaching and tuition deadlines looming, strategic payment methods can help reduce the financial stress of the new season. One effective approach is utilizing credit cards offering 0% introductory APR periods, allowing you to distribute these substantial expenses over time without incurring interest.​ You may be able to take advantage of early bird discounts on tuition if you pay the gym in advance, then pay off the balance throughout the year.

Understanding Cheerleading Costs

Competitive cheerleading encompasses various expenses:

• Monthly Tuition: Typically between $200 and $300, covering regular training sessions and gym access. Over a full year season, this amounts to a significant portion of the overall cost. ​

• Competition Fees: Depending on the number and prestige of events, these can add an additional $75 to $150 monthly for registration alone. 

• Uniforms and Equipment: Initial costs for uniforms, practice outfits, and accessories can range from $310 to $700.

• Travel Expenses: Out-of-town competitions may require budgeting for accommodation and transportation, possibly adding thousands of dollars more to your bill  

Benefits of 0% Introductory APR Credit Cards

Credit cards with 0% introductory APR on purchases can enable you to manage these expenses more effectively by:​

• Interest-Free Financing: Spread out payments over the introductory period without accruing interest.​

• Cash Flow Management: Maintain liquidity for other household expenses while meeting cheerleading financial commitments.​

• Potential Rewards: Some cards offer cash back or rewards on purchases, providing additional value.​

Top 0% Introductory APR Credit Cards to Consider

Here are some credit cards offering attractive 0% introductory APR periods:

1. Wells Fargo Reflect® Card

   • Introductory Offer: 0% APR for 21 months on purchases and qualifying balance transfers from account opening.​
   • Balance Transfer Fee: Up to 5% (minimum $5) of the amount. ​

2. Discover it® Cash Back

   • Introductory Offer: 0% APR for 15 months on purchases and balance transfers.​
   • Rewards: 5% cash back on rotating quarterly categories and 1% on all other purchases. ​

3. Wells Fargo Active Cash® Card

   • Introductory Offer: 0% APR for 12 months on purchases and qualifying balance transfers.​
   • Rewards: Unlimited 2% cash back on all purchases.

Considerations Before Applying

• Duration of Introductory Period: Align the 0% APR period with your repayment plan to ensure you can pay off the balance before regular interest rates apply.​

• Post-Introductory APR: Be aware of the interest rate that will apply after the introductory period ends.​

• Fees: Check for any annual fees, balance transfer fees, or other charges associated with the card.​

• Credit Score Requirements: Ensure your credit score meets the card's approval criteria.​

Final Thoughts

Managing the costs of competitive cheerleading requires careful financial planning. Utilizing a credit card with a 0% introductory APR can be a valuable tool to distribute expenses over time without incurring interest. However, it's crucial to have a clear repayment strategy to avoid accruing debt once the introductory period concludes. The interest rate will be SKY HIGH, so make sure the balance is paid in full well before your introductory period is up.  

By selecting a card that aligns with your financial situation and repayment capabilities, you can support your child's cheerleading aspirations while maintaining financial stability.​