For people looking to manage debt or finance large purchases, 0% APR credit cards can be an attractive option.

These cards allow you to avoid paying interest for a set introductory period, giving you extra time to pay off balances. But without a strategy, you could end up paying more than you save.

Dr. Seth Hoelscher, department head of finance, economics and risk management at Missouri State University, shares with WalletHub the common mistakes to avoid, how to get the most from a 0% APR offer and what to keep in mind before applying.