Balance Transfer Question

[Anonymous]

This is my first BT and I have a stupid question that probably has an obvious answer.

I just got a Slate with 0% APR on BTs and purchases for 15 months. However, I am trying to do a BT and part of the fine print says "Interest Charges on Purchases: Once you take advantage of this offer, you will have a new promotional balance on your account. As a result, you will lose your interest-free period (also called your grace period) on new purchases unless you pay your entire balance in full each month (including any promotional balances that you add by using this offer). This means that while you will enjoy the promotional rate on the balances that you add by using this offer, you will pay interest on your new purchases. "

Does this mean I lose the 0% APR on new purchases? Or just that I lose the grace period before the interest would kick in and since the interest is 0%, I still don't have to worry about it if I did buy something with this card?

Thanks in advance for the answer.

[NRB525]

Interesting. The promotion is supposed to be 0% APR across the board, right?

How are you processing this BT?

Maybe best to call the CSR and clarify. It would not seem that the fine print applies for the first 15 months, but best to clear that up early.

[Anonymous]

Yep, 0% across the board for 15 months. I was doing it online.

I guess I will add calling Chase CSR to my list of phone calls I have to make tonight.

[Anonymous]

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@Anonymous wrote:

This is my first BT and I have a stupid question that probably has an obvious answer.

I just got a Slate with 0% APR on BTs and purchases for 15 months. However, I am trying to do a BT and part of the fine print says "Interest Charges on Purchases: Once you take advantage of this offer, you will have a new promotional balance on your account. As a result, you will lose your interest-free period (also called your grace period) on new purchases unless you pay your entire balance in full each month (including any promotional balances that you add by using this offer). This means that while you will enjoy the promotional rate on the balances that you add by using this offer, you will pay interest on your new purchases. "

Does this mean I lose the 0% APR on new purchases? Or just that I lose the grace period before the interest would kick in and since the interest is 0%, I still don't have to worry about it if I did buy something with this card?

Thanks in advance for the answer.

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I would do this with a BT on that card. Make your BT then put your card in the sock drawer until the BT is paid off. I read that to mean you will loose any 0% on new purchases unless you pay your entire card balance(including the BT) off. I've heard that some companies, I beilieve one is Barclays, will seperate a BT from purchases, but that TOS doesn't.

To verify, contact customer service with your concerns.

[Anonymous]

And just got off the phone with Chase CSR. Because I did the BT online, I got the generic information which does not apply to me since I have the 0% APR across the board.

ETA: This card is going in the sock drawer until the BT is paid off anyways, but I was trying to make sure I knew what I had signed up for.

[Anonymous]

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@Anonymous wrote:

And just got off the phone with Chase CSR. Because I did the BT online, I got the generic information which does not apply to me since I have the 0% APR across the board.

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Thats good that you got clarification..