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CaidensMommy
My 3 Miracles!
Member since 5/05 5777 total posts
Name:
Melissa
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Credit card 0% balance transfers
We were looking to transfer a balance from one card to another. We were interested in a Chase card and possibly a Citibank card. Can anyone share their experience with either of these cards? Do you know if either of these cards offer a generous amount on the credit limit? We're not looking to spend a lot but since we want to transfer x amount of money we want to have a bit left over so it's not maxed out. Thanks!
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Posted 10/3/07 10:47 PM  |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: Credit card 0% balance transfers
The credit limit, as well as interest rate you are given, is based on your credit history and FICO score.
Not everyone who applies for 0% interest credit cards gets them. Companies are often very selective as to who qualifies.
Becareful, the interest rate, after the initial period can be some of the highest rates offered in the industry.
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| Posted 10/3/07 10:51 PM |
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
Name:
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Re: Credit card 0% balance transfers
Also, I would ask them if there is a fee for the transfer.
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| Posted 10/3/07 10:53 PM |
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CaidensMommy
My 3 Miracles!
Member since 5/05 5777 total posts
Name:
Melissa
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Re: Credit card 0% balance transfers
Thanks for the info! I did see that the APR is somewhat high after the 0% period. That's when we would go ahead and transfer the balances again!  Thanks!
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| Posted 10/3/07 10:55 PM |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: Credit card 0% balance transfers
Posted by CaidensMommy
Thanks for the info! I did see that the APR is somewhat high after the 0% period. That's when we would go ahead and transfer the balances again! Thanks!
Be very careful juggling debt like that from place to place.
There is no guarantee that you will continue to find these cards. As you continue to do this, the companies see the paper trial you leave, that is if you can keep qualifying for 0% cards and at some point you will be denied because they figure they can't make money off of you.
That means whatever the last card you hold, whatever the APR is, you are stuck with your debt at that rate. I don't even want to even think about how much it is
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| Posted 10/3/07 11:00 PM |
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CaidensMommy
My 3 Miracles!
Member since 5/05 5777 total posts
Name:
Melissa
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Re: Credit card 0% balance transfers
That's true, I never thought of that. I just kept hearing of many people doing that for years so I thought, what a good idea! I'll definitely keep that in mind.
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| Posted 10/3/07 11:18 PM |
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monkeybride
My Everything
Member since 5/05 20541 total posts
Name:
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Re: Credit card 0% balance transfers
Posted by Tah-wee-ZAH
The credit limit, as well as interest rate you are given, is based on your credit history and FICO score.
Not everyone who applies for 0% interest credit cards gets them. Companies are often very selective as to who qualifies.
Becareful, the interest rate, after the initial period can be some of the highest rates offered in the industry.
I agree. Just because you got an offer doesn't mean you'll qualify so I wouldn't bank on that option especially if you have a lot of debt and you debt to income ratio isn't good. If that's the case you probably either won't get approved or will get a small limit.
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| Posted 10/3/07 11:21 PM |
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