|
| Would you say they are pretty good 'deals' (if you could even call it that) PROVIDED THAT you have no balance on the card? We're just looking for the best way to finance the construction of a home office in our home. We have no balances and the offers are either 0% for a few months or 3.x% for the balance. All current CC balances are $0 (yay!) |
Follow-Up Postings:
|
| You would have to stop using the card since new stuff would automatically have interest and at the regular rate. Check how much the fee to use it is, usually under 100 and it is one time but you need to read the fine print. Finally, if you are even a day late they can seriously increase your interest or if you are in any way late with any other account you have with them or in theory with anyone else where they can get the info through a credit check Never actuslly used one but considered it under similar circumstances. I was being offered 4.9 lately so 3 is good but you need to read the fine print |
|
| Check the fees closely. I just got some checks from the evil Ch*s* card and the fee jumped to 3% max $150. |
|
| I had a similar situation...got $5000 (no transfer fee...you have to watch that too), at 0% for one year. I put the card away (outta sight), and set it up to take automatic fixed monthly payments (about $200 over the minimum required), which assured me that it would never be late. They (the cr cd companies) are assuming that you will put other charges on the card, and then pay interest on those items until the transfer is paid off. They apply the payment to the amount that has the lowest interest...the transfer, b4 the other purchases get paid off. 3.x% for the life of the balance transfer loan amount sounds good to me. Sue |
|
| Read the fine print - carefully (even if you need a magnifying glass). Don't put new purchases on that card, in most cases - a good way to turn the 0%, 3.x%, or whatever on the transfer ... ... into high interest fees on the part of the ongoing balance related to the new purchases. Be very careful to *never* transgfress any rule, e.g. late payment, etc. ole joyful P.S. I thought that the "cheques" had almost always to go the other way - *toward* the credit card cos., not fom them to us! Credit cards must produce good returns for the issuers ... ... for they sure are enthusiastic about offering them to us! o j |
|
| Got one for 1.8 today until September, actually ran the number to see if it was worth keeping the cash in a high interest account until then (it is not, cost is about 300, return is 600. For 300 it is not worth trashing my fico score |
Please Note: Only registered members are able to post messages to this forum. If you are a member, please log in. If you aren't yet a member, join now!
Return to the Household Finances Forum
Instructions
- You must be a registered member and logged in to post messages on our forums.
- Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review the contents and make changes.
- After posting your message, you may need to refresh the forum page in order to see it.
- It is illegal to post copyrighted material without the owner's consent.
- HTML codes are allowed in the message field only.
- No advertising is allowed in any of the forums.
- If you would like to practice posting or uploading photos, please visit our Test forum.
- If you need assistance, please Contact Us and we will be happy to help.