any credit cards offering 0% interest for a year?

Discussion in 'After Hours Lounge (Off Topic)' started by Steve Alan, Jun 6, 2003.

  1. Steve Alan

    Steve Alan Agent

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    The card I am currently using has almost run out of it's year of no interest. The only "good" offers I have received in the mail recently do have no interest for a year, but only if you transfer a balance of a minimum of $100, which there is 8-10% interest on. Does anyone know of any cards that are being offered with 0% and balance transfers? Are there any websites that keep track of good credit deals like this?

    Thanks for any info, suggestions, or ideas!!!
     
  2. Michael Boyd

    Michael Boyd Second Unit

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    I was under the impression it all had to do with your credit score as to when you recieve these offers., not that its just out there and advertised for anyone. Do you get any offers for new cards in the mail? Thats how I usually take advantage of the transfer rates.
     
  3. DavidAM

    DavidAM Second Unit

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    I know Discover had one awhile back, don't know if they are still offering it though.
     
  4. Don Black

    Don Black Screenwriter

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    I got 7 months through Discover on an $8k BT back in February. 0% APR and no fees. I didn't need the loan but figured what the heck. I just pocket the interest. Be careful though, they pull all sorts of weird tricks. For example, make sure your CC is paid off in full before you do the BT otherwise any payments made to your account will go first to the BT and then to any other charges. All I did was pay off my card and then put it in a drawer until the BT offer ends. Good luck!
     
  5. David Preston

    David Preston Supporting Actor

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    Hopefully you have a Dicover card. I like them the most. All you have to do is right before or right after you promotion is up give them a call and tell them you want %0 interest for 6mo on purchases. I have been doing that for a couple years now and never been told no. You can call any of your CC companys and ask for a promotion or a interest rate reduction. Discover also offers cash back which can really help on big HT purchases. Especially when you have %0 interest. Hope this helps. David
     
  6. JoshF

    JoshF Supporting Actor

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    I just got the CITI Diamond advantage card, which has 0% APR on balance transfers through August 2004. Pretty good deal.
     
  7. Burke Strickland

    Burke Strickland Second Unit

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    With any credit card offering very low or no interest, watch out for tricks like your payments starting to show up on their books after the due date (even though you sent them in plenty of time) and your account getting slapped with huge "late fees" because of it. To make late payment even more likely, some credit card companies will change the due date each month, or frequently change the mailing address where they accept the payments. Miss the deadline (even if it is because of their bookkeeping games and not the schedule by which you actually send the payments) they might jack up the annual interest rates from "zero" to as high as 21 percent, maybe more.

    There was one bank that enticed me to transfer a large balance, then started playing those games, which forced me to send the payments certified mail to have proof they received them on time -- and even then when I tried to send a large payment to clear the account, they cashed my check but failed to post it to my account for several months, charging "late fees" for "missing" payments that had already been made, jacking up the interest rate and threatening to notify the credit bureaus -- even though they were the ones causing the problems. Needless to say when the balance finally got zeroed out, I immediately closed the account -- but they refused to report the account as closed at card holder's request to the credit bureaus -- they said it was in case I'd "change my mind" and want to reactivate the account. (Never gonna happen, even if pigs do fly someday.) :>)

    There's no such thing as a "free lunch" and it seems the credit card companies will try to get their profit one way or another regardless of the enticing "deals".
     
  8. Reginald Trent

    Reginald Trent Screenwriter

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    Here's the number for the CITI Diamond Preferred Rewards Card with 0% APR on Balance Transfers until July 1, 2004

    1-800-311-9098
     
  9. Michael Silla

    Michael Silla Second Unit

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    Burke,

    This is one thing that is preventing me from signing up for the CITI offer. If you miss a payment (no matter the reason), the rate automatically goes up to 29% on balance transfers (you can screw up three separate times if it is on a purchase).

    Keybank is offering me 5.74% fixed (I am a longtime customer) but the problem is that they charge a 3% balance transfer fee, something that I am just not willing to pay.

    Michael.
     
  10. David Preston

    David Preston Supporting Actor

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    Balance transfer fees suck. I was going to pay off my car with one but they charge $50 max fee. I said nevermind I can pay it off and save that $50.
     
  11. Reginald Trent

    Reginald Trent Screenwriter

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    This CITI Card promotion does not charge a transfer fee.
     
  12. MikeAlletto

    MikeAlletto Cinematographer

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  13. MickeS

    MickeS Producer

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    The "Disney Visa" from Bank One that I just got has a decent deal... 0% on balance transfers and purchases for 9 months. $50 max charge on balanca transfers though, but that was less than I would've paid in interest on the balance I transfered.

    I got the offer in the mail, but maybe you can call Bank One and ask about it.
     
  14. JoshF

    JoshF Supporting Actor

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  15. Don Black

    Don Black Screenwriter

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    Josh: It wouldn't surprise me if that's if you miss a payment. I know that, in the event of a missed payment, Discover automatically makes the full amount of the BT due and kills the 0% APR. It becomes something like 12.99% instead.
     

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