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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

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
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.

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
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

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...

Member

Re: Looking for fixed rate BT deals.

BUMP

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
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
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!