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Looking for fixed rate BT deals.

Member

Looking for fixed rate BT deals.

I am trying to find good options for fixed rate BTs. My Mother has a second mortgage at 10%. She owes about 18k. I know that Penfed offers 4.99% fixed with no BT fee, but I am not sure if they would consider a line of credit that large. So I have two questions:

 

1. Would Penfed or any other bank/CU consider offering multiple cards to make up a limit if it is not possible to grant the limit with one card? For ex, if they only offer 8k.

 

2. What other deals are out there?

 

Thanks

Message 1 of 12
11 REPLIES
Mega Contributor

Re: Looking for fixed rate BT deals.

Can she get in with PSECU? PA resident?



EQ FICO 548 3/3/16
Message 2 of 12
Member

Re: Looking for fixed rate BT deals.

She lives in Michigan. That looks like a nice deal: 2.9% fixed with no BT fee. I will call tomorrow and see if there is a way to qualify for membership.

Message 3 of 12
Mega Contributor

Re: Looking for fixed rate BT deals.

Look on page 2 of this forum and there's a thread titled would you pay $75 to join psecu. There seems to be a way in.



EQ FICO 548 3/3/16
Message 4 of 12
Member

Re: Looking for fixed rate BT deals.

I read the thread and they are still waiting for the Guinea Pig to try the method of membership. I know there is a similar deal at a Michigan CU, but you have to be a resident of a certain county.

 

Maybe someone knows of another deal.. Smiley Wink

Message 5 of 12
Member

Re: Looking for fixed rate BT deals.

Here is a deal for 1.99%, but the qualifications for membership at the CU are very specific:

 

ServU FCU is a multi occupational financial institution, where membership is based on people sharing a common bond within a field of membership.


Membership is possible:

  • if youare a student, or a faculty or staff member of any school district in Steuben County 
  • if youare a student, or a faculty or staff member at Corning Community College 
  • if you belong to, or are a volunteer of, one of our Select Employee Groups
  • if youlive, work, attend school or worship in Yates County or the towns of Montour, Reading, Dix, Orange, or Tyrone, New York
  • if you have an immediate family member who is within the field of membership. Immediate family member is defined as a spouse, child, sibling, parent, grandparent, grandchild, stepparents, stepchildren, stepsiblings, and adoptions.
  • if anyone in your household is within the field of membership. Household Members are defined as persons living in the same residence and maintaining a single economic unit.
  • if you are the spouse of someone who died while within the field of membership

https://www.servucu.com/webfederal.asp?Cabinet=Main&Drawer=Loans&Folder=Visa+Credit+Card&SubFolder=V...

Message 6 of 12
Member

Re: Looking for fixed rate BT deals.

BUMP

Message 7 of 12
Valued Contributor

Re: Looking for fixed rate BT deals.

Alliant, or Lake Michigan Credit Union.


CC's: AMEX (4), Alliant Visa, PenFed AMEX, Pen Fed Promise, Citi (3), Chase (5), US Bank Cash+, Huntington Voice, UMB Visa, Nasa Plat Cash Visa, Barclay's Visa, Discover IT, Cap One QS, BOA (2), BMW Visa, 5/3 Real Life Rewards MC; FNBO Amex; Comenity Visa/MC (4), Ebates Visa Siggy, Nordstrom Visa, Walmart MC, Sam's Club MC; A few assorted store cards.

Current Scores (09/2017): EQ My Fico: 801; TU MyFico: 799; EX (My Fico): 797
Message 8 of 12
Valued Contributor

Re: Looking for fixed rate BT deals.

I'm confused at why you need a balance transfer for this. What about a standard home equity loan? Or refinancing the first mortgage with a cash out to pay off the second?

Are there specific roadblocks to making these types of things work? Given that a loan with collateral (the house) typically have lower interest rates, it may be a good idea to shop around for some other products in addition to the balance transfer.

In My Wallet: Amex BCP (12/12) $50,000, Chase Freedom (12/12) $16,500, Cap1 Quicksilver (6/12) $14,000, Barclaycard Rewards (5/13) $10,500, Citi Prestige (4/16) $30,000

Last App: June 27, 2015
Message 9 of 12
Member

Re: Looking for fixed rate BT deals.

Alliant has a good 0% 12 months, no bt fee deal. LMCU seems to have a platinum card with a regular low rate around 6% or so. I didn't see and fixed rate bt deals, but will definitely keep these in mind for future reference!

Message 10 of 12