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#4619716 - 12/31/17 01:42 PM 0% credit cards
grampi Offline


Registered: 10/08/06
Posts: 7762
Loc: OH
I am thinking about getting one to transfer my current card's balance onto so I can pay it off sooner. My current card has a fairly low fixed rate (9.9%), but I'd be able to pay off my debt sooner with a 0% card. Is there anything I need to look out for?

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#4619723 - 12/31/17 01:46 PM Re: 0% credit cards [Re: grampi]
Reddy45 Offline


Registered: 08/15/08
Posts: 2965
Loc: USA
I assume it's a 0% APR for some short term like 12 months? And is the balance transfer rate also 0%?

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#4619728 - 12/31/17 01:49 PM Re: 0% credit cards [Re: grampi]
blupupher Offline


Registered: 08/27/04
Posts: 4421
Loc: Katy, Republic of Texas
Yup, be aware of the fine print, it may be a 0% on purchases, but balance transfers may be different.
_________________________
1994 Honda VT1100C: Peak 15w-40/TG/2500 mile OCI
2002 Ford F150: GTX HM 5w-20/EcoGard Syn/1yr OCI
2012 Scion xB: QSUD 0w-20/CQ Blue/5k OCI


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#4619729 - 12/31/17 01:49 PM Re: 0% credit cards [Re: grampi]
skyactiv Offline


Registered: 03/02/13
Posts: 4394
Loc: The Midwest
How much do you have on your credit card(s)?
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#4619733 - 12/31/17 01:53 PM Re: 0% credit cards [Re: grampi]
motor_oil_madman Offline


Registered: 11/29/09
Posts: 4845
Loc: Houston, Texas
Just watch them add the interest rate for 12 months onto the bill if you don't pay it in full.
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#4619736 - 12/31/17 01:57 PM Re: 0% credit cards [Re: grampi]
madRiver Offline


Registered: 07/11/15
Posts: 3534
Loc: New England
They charge typically to transfer in a balance. Life happens and emergencies but 10% interest is crazy for everyday purchases.

The interest rate if you miss a payment is very steep and sometimes applied for two months. A work pay check bounced due to a stop payment and cost my company I work for $300 in late fees, penalties and back interest they covered. $150 of it was credit card related.

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#4619772 - 12/31/17 02:24 PM Re: 0% credit cards [Re: grampi]
grampi Offline


Registered: 10/08/06
Posts: 7762
Loc: OH
The Citibank card I looked up has no annual fee, and is 0% for purchases and balance transfers, good for 21 months. The only fee I saw was for 3% on a balance transfer. I'm looking the diamond preferred card...

https://citicards.citi.com/usc/dual/value/dc/dp/2017/December/PS/A/default.htm?m=93BF111111W&cmp=KNC~01~110901~CRDACQXX~Google&BT_TX=1&ProspectID=56EFEE3CAB76474F801DDA237DE33758

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#4619774 - 12/31/17 02:25 PM Re: 0% credit cards [Re: skyactiv]
grampi Offline


Registered: 10/08/06
Posts: 7762
Loc: OH
Originally Posted By: skyactiv
How much do you have on your credit card(s)?


$10K on one card.

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#4619779 - 12/31/17 02:29 PM Re: 0% credit cards [Re: blupupher]
Linctex Offline


Registered: 12/31/16
Posts: 6148
Loc: Waco, TX
Originally Posted By: blupupher
Yup, be aware of the fine print, it may be a 0% on purchases, but balance transfers may be different.


Purchases are usually higher priced,
but since balance transfers are "big money" for them in one shot,
the balance transfers can be a big money saver.
Have to do the math, though...
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#4619780 - 12/31/17 02:29 PM Re: 0% credit cards [Re: grampi]
Mr Nice Offline


Registered: 09/12/04
Posts: 21185
Loc: Orlando, FL
Why not just pay off the entire balance ?

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#4619781 - 12/31/17 02:29 PM Re: 0% credit cards [Re: grampi]
dishdude Online   content


Registered: 11/14/08
Posts: 8732
Loc: Phoenix
Originally Posted By: grampi
The Citibank card I looked up has no annual fee, and is 0% for purchases and balance transfers, good for 21 months. The only fee I saw was for 3% on a balance transfer. I'm looking the diamond preferred card...

https://citicards.citi.com/usc/dual/value/dc/dp/2017/December/PS/A/default.htm?m=93BF111111W&cmp=KNC~01~110901~CRDACQXX~Google&BT_TX=1&ProspectID=56EFEE3CAB76474F801DDA237DE33758


Sounds like the way to go! I paid my car off with one a while back and it worked out great.
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2018 Challenger SRT

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#4619786 - 12/31/17 02:32 PM Re: 0% credit cards [Re: grampi]
Saul Offline


Registered: 02/18/15
Posts: 97
Loc: New Mexico
The very best Balance transfer 0% card is the Chase Slate.

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#4619787 - 12/31/17 02:33 PM Re: 0% credit cards [Re: Mr Nice]
madRiver Offline


Registered: 07/11/15
Posts: 3534
Loc: New England
Originally Posted By: Mr Nice
Why not just pay off the entire balance ?


Not everyone has good credit skills in life or emergencies happen. $10k!!!! @ 10% interest crazy

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#4619797 - 12/31/17 02:43 PM Re: 0% credit cards [Re: Mr Nice]
grampi Offline


Registered: 10/08/06
Posts: 7762
Loc: OH
Originally Posted By: Mr Nice
Why not just pay off the entire balance ?


I don't quite understand your question. Obviously, if I had $10K lying around I would do just that, but like most people with credit card balances, I can only pay so much a month. I will be paying $500 a month, though I might able to squeeze out $600 a month, and my total amount paid would be less if I had 0% interest...

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#4619799 - 12/31/17 02:44 PM Re: 0% credit cards [Re: Saul]
grampi Offline


Registered: 10/08/06
Posts: 7762
Loc: OH
Originally Posted By: Saul
The very best Balance transfer 0% card is the Chase Slate.


Do you have the term details?

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