Navy offering 2.99% BT for 12 months!

[brcamacho]

If i did want to try something like shifting some money around, what would be the downside? 

[brianjb]

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@brcamacho wrote:

If i did want to try something like shifting some money around, what would be the downside? 

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Others may want to chime in.  The only down side I can see is that the offer you want disappears.

lets say it takes 10 business days to do the first transfer, and the offer you want expires before you're ready.  That's the only down side I can think of

[Creditaddict]

You should be fine if the charge for the payment to your husband goes through instantly... Will be Monday for that deposit to clear his checking account and then takes 2-3 days for payment to navy and then you submit BT...

[Tmac22]

I am so glad this was posted! I immediately called and was told that my recent BT would go through at the promo rate. I BT'd for the 7% dif in APR, now that dif is panning out to be more like 20%!! Can't wait to pay it off-at 2.99% it will be easy compared to the highway robbery Cap1 was committing with their APR!

[SisterGirl]

One reason why I was using this card lightly was for just this ! Though I didn't call to complete them, I did mine online today & happy as a clam for the day I learned of NFCU

SisterGirl

[oracles]

I am assuming the 0% is not going to happen this year in the beginning of the year

I was really hoping for that promotion

[sailor_mercury]

I'm curious.  If you are carrying a balance of $3k @ 14% and transfer $3k over from other lenders how does NFCU apply payments and calculate the interest.  If $2k is paid I am wondering if they apply it to the balance @ 14% or if they apply it to the balance that is accruing at 2.99%.

A good deal if you are carrying balances either way.  It's just a sweeter deal if they apply payments to the higher APR first.

[Creditaddict]

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@sailor_mercury wrote:

@I'm curious.  If you are carrying a balance of $3k @ 14% and transfer $3k over from other lenders how does NFCU apply payments and calculate the interest.  If $2k is paid I am wondering if they apply it to the balance @ 14% or if they apply it to the balance that is accruing at 2.99%.

A good deal if you are carrying balances either way.  It's just a sweeter deal if they apply payments to the higher APR first.

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If your minimum is $200, the $200 will apply to the new lower 2.99% rate balance... if you pay $300 per month, $200 will go to the low rate and the the amount above the minimum ($100 in my example) will apply to your higher rate balance.

[sdwalt]

Hmm I see the offer now, that kind of sucks beause I have been sending money all over town to different cards lol and I could have used this before.

[drkaje]

I'm probably getting in to NFCU this year.