Established Contributor
Posts: 576
Registered: ‎11-13-2008

Low Rate for Life of Balance Transfer

Does anyone have any cards in mind that offer a low rate on balance transfers for the life of the balance transfer?


My wife has a Sallie Mae student loan at 8.5% that is about $8k. Its been 3 years since origination and the principal is barely scratching the surface.


Besides PenFED. Their underwriting guidelines I am afraid are too picky for me even.

Posts: 9,750
Registered: ‎12-30-2011

Re: Low Rate for Life of Balance Transfer

I'm not so certain such animals exist; credit cards are designed for short-term float, not extended periods (ostensibly).  As a result, I suspect most if not all have a time limit associated with it.


On pretty much any installment loan, the first couple payments if you pay the minimum will barely scratch the principal; kicking extra money in during the early part of the loan can shorten it tremendously.  


I'm not an expert though; there may be something out there but it'd likely be more effective to get a different loan type, secured against some sort of asset, to refinance it down if that's the goal.

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Valued Contributor
Posts: 2,505
Registered: ‎11-11-2010

Re: Low Rate for Life of Balance Transfer

In today's world, such thing does not exist. Low rate is promtional offer that at most 18 months before going back to original rate.

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Senior Contributor
Posts: 3,491
Registered: ‎07-25-2008

Re: Low Rate for Life of Balance Transfer

NavFed probably has something like that.


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Epic Contributor
Posts: 22,087
Registered: ‎10-23-2007

Re: Low Rate for Life of Balance Transfer

PenFed had a 4.9% for life and no fee to BT but that ended 12/31 unless they extended but I have not checked.

Citi has 18 and chase has 15... Chase has been overing the Slate with the 15 months 0% but Waiving the BT Fee for first 90 days of account opening... Take that now if you can get it (Do Pre-Qual online) and get the balance down as much as you can... 15 months from now everything could be different.

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Senior Contributor
Posts: 6,242
Registered: ‎08-16-2012

Re: Low Rate for Life of Balance Transfer

Get a high limit bt card...

Many Barclaycards

To get a limit that high on initial approval though, you'd likely need to have other equally as high of limit revolving accounts..

Good luck :-)
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Senior Contributor
Posts: 3,065
Registered: ‎11-02-2009

Re: Low Rate for Life of Balance Transfer

[ Edited ]

I just got an offer in the mail the other day for a fixed rate for life for any BTs completed in the first three months.  I think it was 8.9% and with First National Bank of Omaha.  I'd look it up for you but I tossed it.   


ETA: just noticed you were trying to get something lower than 8.5% so this wouldn't have been of interest anyway.  But maybe it provides a data point for what kinds of things are out there.

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