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I just received a notice in the mail for a new Citi Balance Transfer offer stating if you balance transfer before August 15th, 2011 you get a 0% APR on the balance transfer AND all new purchases after the transfer posts until August 1, 2012. So if I am reading it correctly you can transfer say $100, pay your $5 transfer fee and have a 0% APR on all purchases until August 2012.
Besides the fact you should always PIF and the fact NFCU transfer (0%, no fee) might be better for large amounts am I missing anything?
Terms:
0.00% Promotional APR on Balance Transfers and New Purchases. After this promotional offer ends, your standard variable APR for purchases will be applied to any unpaid promotional balances.
Duration: Until 08/01/2012.
Fee: Either $5 or 3% of the amount of each transfer, whichever is greater
Looks OK to me.
WaMu offered a similar deal at one time (0% APR for 18 months on purchases, with an initiating transfer at regular APR). I took the offer, did a $100 transfer, did no shopping with that card until I paid for that transfer (as soon as the statement cut), and got the 0% for the next year and a half.
The deal cost me something like a dollar and change.
Not exactly the same thing here, but again, it looks good to me. I don't see any gotchas in here.