Local Minnesota Credit Union offering 2% Cash Back on all balance transfers!

[Royalbacon]

Credit Union offering 2% Cash Back on all balance transfers! I don't think i've really ever seen a lender offer cash back on a balance transfer before! Membership is limited to a handful of counties (Ramsey, Washington or Dakota County) and a few specific cities outside of those counties (Maple Grove, Osseo, and Plymouth) in the Minneapolis/St Paul metro area though and AFAIK there is no backdoor method or organization you can donate to become to eligible to join.

 https://www.cccu.com/news-promotions

[Anonymous]

Except the small print says you willl lose no matter how you skin the cat:

So, you can't pay it off right away so you have to pay at least a month's interest starting at 10.99%...where's the deal?

APR= Annual Percentage Rate. 2% cash back promotion will apply to net purchases made between 10/1/17 through 12/31/17 for all new accounts opened from 10/1/17 to 12/31/17 or existing Platinum Reward cardholders that opt in, excludes regular Platinum cardholders. The cash back rate will return to 1% cash back on net purchases after 12/31/17. 2% Balance transfer promotion ends 12/31/17 and excludes transfers from CCCU Loan Accounts. Balance Transfer rebate will be deposited to the share account by 1/31/18 and any balance transfers paid in full by 12/31/17 will not be eligible. Cash advance fee is 2% or a $2.00 minimum. Foreign Transaction fee is 1% of each transaction in U.S. dollars. See MasterCard Credit Card Terms & Conditions for complete details. Excludes Business Credit Cards. Paid in full by 01/31/18 will not be eligible.

[Royalbacon]

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@Anonymous wrote:

Except the small print says you willl lose no matter how you skin the cat:

So, you can't pay it off right away so you have to pay at least a month's interest starting at 10.99%...where's the deal?

APR= Annual Percentage Rate. 2% cash back promotion will apply to net purchases made between 10/1/17 through 12/31/17 for all new accounts opened from 10/1/17 to 12/31/17 or existing Platinum Reward cardholders that opt in, excludes regular Platinum cardholders. The cash back rate will return to 1% cash back on net purchases after 12/31/17. 2% Balance transfer promotion ends 12/31/17 and excludes transfers from CCCU Loan Accounts. Balance Transfer rebate will be deposited to the share account by 1/31/18 and any balance transfers paid in full by 12/31/17 will not be eligible. Cash advance fee is 2% or a $2.00 minimum. Foreign Transaction fee is 1% of each transaction in U.S. dollars. See MasterCard Credit Card Terms & Conditions for complete details. Excludes Business Credit Cards. Paid in full by 01/31/18 will not be eligible.

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Awwww dang I missed that. Welp I suppose if your balance transferring from a higher APR card it could be somewhat of a win sort of (but not really, you'd be much better off finding a card with a 0% APR introductory offer on BTs like Chase Slate and BT'ing to that instead)

But not being able to pay it off immediately and avoid interest makes this SIGNIFICANTLY less of a good deal then I initially thought it was.