| Credt card [with 0% Transfer for Life of Balance?] |
|
|
|
|
|
xboxundone
Senior Member
Cash: $ 67.83
Posts: 796
Joined: 19 Sep 2004
|
| Re: Credt card |
 |
|
quote:
Originally posted by so_close
Are there any credit cards that offer 0% for the lifetime of transfer balances?
If so are there any catches?
IF you find one with no catches I am sure several people would be interested! 
|
Mon Jul 18, 2005 4:06 pm |
|
|
Andrew
Admin
Cash: $ 460.25
Posts: 1695
Joined: 02 Nov 2003
Location: Texas
|
I haven't seen such a card and I don't think you will find such an open-ended deal that would allow you to hold a balance for free forever.
There are cards that will offer 0% for as much as 15 months.
You may find something of interest in our Credit Card Store...
http://www.money-talk.org/credit-cards/
|
|
Mon Jul 18, 2005 4:29 pm |
|
|
mattice
Member
Cash: $ 3.80
Posts: 20
Joined: 22 May 2005
|
at the very least you can jump around different cards. say you have a 10,000 balance on one card and in a month the interest will kick in. call another card company and ask if they do balance transfers, open up a card there transfer the 10,000 to that one, close your old card account and you have another 15 or so months.
|
|
Tue Jul 19, 2005 12:20 am |
|
|
pearljammer
Member
Cash: $ 4.25
Posts: 20
Joined: 11 Jul 2005
|
After swearing up and down to never switch to Chase Credit (because of all the TONS of junk mail I get from them) I ended up switching over anyway. I got 0% for 15 months, plus 7.9% fixed after that. Coming from a 17% Providian card, I can't complain.
If you find one that is 0% fixed, then let us know. I really doubt such a card exists.
http://www.lottomagik.com
|
|
Tue Jul 19, 2005 6:00 am |
|
|
MattL
Senior Member
Cash: $ 46.85
Posts: 234
Joined: 25 Jun 2005
|
quote:
Originally posted by mattice
at the very least you can jump around different cards. say you have a 10,000 balance on one card and in a month the interest will kick in. call another card company and ask if they do balance transfers, open up a card there transfer the 10,000 to that one, close your old card account and you have another 15 or so months.
Several years ago I used that exact method to get myself out of $8,000 in credit card debt in less than 2 years while making very little money. I describe the approach I took on my Debt Elimination website.
Ever since I haven't carried a credit card balance and pay it off every month.
$$$ Debt Elimination
Software | Computers | Electronics
|
|
Tue Jul 19, 2005 3:04 pm |
|
|
xboxundone
Senior Member
Cash: $ 67.83
Posts: 796
Joined: 19 Sep 2004
|
quote:
Originally posted by MattL
quote:
Originally posted by mattice
at the very least you can jump around different cards. say you have a 10,000 balance on one card and in a month the interest will kick in. call another card company and ask if they do balance transfers, open up a card there transfer the 10,000 to that one, close your old card account and you have another 15 or so months.
Several years ago I used that exact method to get myself out of $8,000 in credit card debt in less than 2 years while making very little money. I describe the approach I took on my Debt Elimination website.
Ever since I haven't carried a credit card balance and pay it off every month.
Pay it off at the end of the month is the way to GO!!!
|
|
Tue Jul 19, 2005 3:19 pm |
|
|
efflandt
Senior Member
Cash: $ 80.45
Posts: 401
Joined: 25 Apr 2005
Location: Elgin, IL USA
|
quote:
Originally posted by mattice
at the very least you can jump around different cards. say you have a 10,000 balance on one card and in a month the interest will kick in. call another card company and ask if they do balance transfers, open up a card there transfer the 10,000 to that one, close your old card account and you have another 15 or so months.
Unless they waive or limit the 3-4% balance transfer fee, $300-400 could be added every time that $10k is transferred.
I transferred $3200 with $50 transfer fee to 2.99% interest for unlimited time (current interest on $2800 is $7/mo). I also owe $1200 @ 0% until Nov. 2006 (Circuit City purchase). I could have paid those off, but figured I should come out ahead investing that $4000 in a Roth IRA.
BTW, the normal interest rate on the Chase (was BankOne) card carrying the 2.99% balance has risen to double the interest rate of my U.S. Bank card (20.24% vs. 9.99%). Could it be an attempt to recover their teaser rates?
|
|
Tue Jul 19, 2005 7:06 pm |
|
|
|
