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Regular Contributor
Posts: 163
Registered: ‎11-12-2013
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0% Interest on Exisiting Cards

Looking to make a large purchase of between 5-10k in the near term. Instead of being out the cash, I would prefer to put my credit to work/have it work for me and also continue building my credit with this purchase as well. With that said, has anyone had experience and would be able to offer up how I might go about getting a 0% APR for a period of time on an existing card?

Thanks everyone - cheers!
FICO - TU: 806 | EQ: 775 | EX: 805

Established Contributor
Posts: 715
Registered: ‎01-26-2016
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Re: 0% Interest on Exisiting Cards


dbutz1109 wrote:
Looking to make a large purchase of between 5-10k in the near term. Instead of being out the cash, I would prefer to put my credit to work/have it work for me and also continue building my credit with this purchase as well. With that said, has anyone had experience and would be able to offer up how I might go about getting a 0% APR for a period of time on an existing card?

Thanks everyone - cheers!

$10k would be difficult, even $5k would put you at 50% util on any of the cards you have listed.

 

Prosper/Lending Tree/PenFed for an installment loan/PLOC might be a better choice.

 

If you want to go the 0% BT route, there are two ways to go.

 

You can either charge it to one card, then initiate a BT to another card

 

Or you can use a BT cheque, either to pay directly, or deposit into your chequing account and paying that way.

 

Cap 1, Discover, and certain Chase products offer attractive BT offers.

 

Valued Contributor
Posts: 3,024
Registered: ‎03-14-2015

Re: 0% Interest on Exisiting Cards

[ Edited ]

Cap1 will start offering 0% APR BT offers once you don't use their card for awhile. Discover usually has BT offers for most people (check for offers on your account online). If none show there, or they don't have a 0% offer, chat with them and ask for one (or you can call). I've heard Chase mails out offers from time to time, but I'm not sure what triggers them.

Established Contributor
Posts: 512
Registered: ‎01-21-2016

Re: 0% Interest on Exisiting Cards

get in touch with discover. tell them what you're intending to do ~ 5-10k spend soon. they might offer you a 0% on purchases for 12 mos. i've seen people granted this by just asking. mention that you also want your CL increased to avoid high utilization on your card. =p this one's a stretch but you never know. they just might grant it! no harm in asking! good luck!

wishlist: Paypal 2% CB PenFed 2% Power Cash Rewards \ BofW 3% CB Golden1 3% No Fastfood | gardening since Sept '17


FICO scores | Inq | AAoA: EX: 812 | 5 | 3yrs \ TU: 819 | 2 | 2yrs \ EQ: ? | 0 | 2yrs

Valued Contributor
Posts: 2,862
Registered: ‎03-28-2015

Re: 0% Interest on Exisiting Cards

[ Edited ]

+1 to Discover. I got my card about a year before you and last summer, after reading it on here, I called about lowering my interest and was offered 0% on PURCHASES for 12 months. No fee (which for discover 0% BT is usually a 3% fee. 

Starting Score: 768/769/767 7/1/15 (But really started at 687/708/668 3/10/15)
Score 3/19/16:
756/765/766 (High score: 789/797/797 11/7/15)
Regular Contributor
Posts: 163
Registered: ‎11-12-2013

Re: 0% Interest on Exisiting Cards


incubus24 wrote:

get in touch with discover. tell them what you're intending to do ~ 5-10k spend soon. they might offer you a 0% on purchases for 12 mos. i've seen people granted this by just asking. mention that you also want your CL increased to avoid high utilization on your card. =p this one's a stretch but you never know. they just might grant it! no harm in asking! good luck!


Thanks for the response - I'll try this when ready. I would like to have the strength of my credit profile work for me in this instance and it should. In terms of the CLI, Discover has been really good to me about this, and it would actually be good timing to go for one with them.

FICO - TU: 806 | EQ: 775 | EX: 805

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Regular Contributor
Posts: 163
Registered: ‎11-12-2013

Re: 0% Interest on Exisiting Cards


TortoiseWins wrote:

+1 to Discover. I got my card about a year before you and last summer, after reading it on here, I called about lowering my interest and was offered 0% on PURCHASES for 12 months. No fee (which for discover 0% BT is usually a 3% fee. 


This is exactly what I would be looking for. Wouldn't even need 12 months but I'll take it. Thanks for backing that it is possible to get this with a real example.

FICO - TU: 806 | EQ: 775 | EX: 805

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