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Does Simplicity have a BT fee?
There are plenty choices out there. Recently, I have gotten 0% offers for 18-24months from PNC, Discover, Barclaycard, Chase Freedom, Citibank and Capitalone but I do have those cards so they are targeted offers. With your mom's credit score there should not be an issue in getting this card. The only suggestion I have is not to accept any offers for less than 12 months. Not worth it.
@mt2va wrote:Since these type of cards are out of reach for me I admit I'm really not up to speed on what is out there for folks with excellent credit. Can someone recommend a CC with preferably 0% introductory rate, but would be willing to accept 0% balance transfer for about a year or longer would be better. This is for my mom.
FICO: 826 (not sure which bureau but she pulled it here & I would expect all 3 to be about the same)
AAOA: Unknown (but she & my dad tend to have 1-2 cards for a long long time and they rarely add new credit)
Util: I'm guessing under 5% (they tend to PIF or at most may have a balance for a large purchase 1-2 months if they don't want to tap into their savings to pay for it)
Current cards: $10K at their local CU, $10K Sears MC, & $10K FNBO
Inq: 0
Baddies: None
The card would need to have a starting limit of at least $5K. I'm pretty sure my mom's credit history and income can support that as she's had multiple CC in the past with up to $25k CL but chose to close them. She isn't going to care about any type of sign up bonus or ongoing rewards. Just looking for something at 0% for the 1 year or longer time frame to meet a short term need.
Thanks.
ETA: Not looking for recommendations at CU etc that she would have to join first. Looking for recommendations from major lenders.
I wanted to add that the cards all comes with transfer balance fees. Most are 3% but PNC is 1%.
If 12 months is long enough, then the Sallie Mae Mastercard is a good choice:
https://www.salliemae.com/credit-cards/sallie-mae-card/
You just have to pay the BT transaction fee, 3%
The preference is for as long as 0% as possible.
Update: My mom called Citi to clarify a couple things about the 0% intro for purchases/balance transfers. She went ahead & apped by phone & said they would let her know if she was approved. Are phone apps not instant approval? I'm just surprised as I would have thought she would get instant approval for whatever she wanted.
Last update. She was approved for $7k but I noticed the card is not a Visa Signature card. I guess that isn't automatic? I've never had a signature card so don't really understand how all that works. I'm pretty sure the limit was so low because this is the only CC she has that is not a joint with my dad. (his income is higher because he has SS + AF retirement) In fact she just recently received the Visa Signature version on her FNBO Visa CC even though she's had the card a couple years and there was no change in her limit. Just curious if anyone can explain how the Visa Signature part works. It doesn't really matter for her purposes.
I just see that I am too late... my other suggestion would have been to see if she does not have great offers for BT with 0% and 1% BT fees with her scores on her existing cards? I get many 0% with 2% BT fees for up to 15-18 months almost every months. And my scores are much lower and I do have quite a bunch of inquiries. Just recently got 12 months 0% with 1% BT fee from Cap1. This would have been a nice alternative to a new card application IMO.
I think you went the right direction with Citi. I think 18 months is the longest intro available. I think you can get that on either Diamond Preffered or Simplicity and maybe others.
She got the Citi Simplicity card.