Hi, folks,
Haven't been on this board for ages as credit-related things almost completely dropped out from my life with other new hobbies, workload with my job etc. etc., but still came back as people here know everything 
Me and my DW are now enjoying 0% intro APR on a couple of cards for the amount of ~15-20% of our normal household annual income which is ~25-30% of our current income as it slightly dropped down (hopefully it's temporary). I think combined we have available credit of ~200% of our normal household income between all cards.
I recently realized that I might not be able to repay all my debt before intro APR period is over on both cards (~Feb-Mar 15), so I started looking into BT offers. Today we received letters from Citi where they offered 0% APR BT until Feb 2016 with $5 min / 3% fee to me, and 0% APR BT until March 2016 with $5min / 4% fee for my DW.
I remember some time ago I've seen 0% APR BT offers with 2% or even 1.5% fee, but not sure what bank it was as I've been normally shredding those BT checks right away.
So, what should be considered a good BT offer nowadays? To be on a safe side I'd prefer to have it for around extra year or so, that said 0$ fee offers with, let's say, $10.99% APR are less desirable than fixed-fee 0% intro APR. I think we are both ~730-750ish in terms of score.
Appreciate your insights,
Thanks!
@mikka1 wrote:Hi, folks,
Haven't been on this board for ages as credit-related things almost completely dropped out from my life with other new hobbies, workload with my job etc. etc., but still came back as people here know everything
Me and my DW are now enjoying 0% intro APR on a couple of cards for the amount of ~15-20% of our normal household annual income which is ~25-30% of our current income as it slightly dropped down (hopefully it's temporary). I think combined we have available credit of ~200% of our normal household income between all cards.
I recently realized that I might not be able to repay all my debt before intro APR period is over on both cards (~Feb-Mar 15), so I started looking into BT offers. Today we received letters from Citi where they offered 0% APR BT until Feb 2016 with $5 min / 3% fee to me, and 0% APR BT until March 2016 with $5min / 4% fee for my DW.
I remember some time ago I've seen 0% APR BT offers with 2% or even 1.5% fee, but not sure what bank it was as I've been normally shredding those BT checks right away.
So, what should be considered a good BT offer nowadays? To be on a safe side I'd prefer to have it for around extra year or so, that said 0$ fee offers with, let's say, $10.99% APR are less desirable than fixed-fee 0% intro APR. I think we are both ~730-750ish in terms of score.
Appreciate your insights,
Thanks!
I'm getting BT offers from several of my accounts. The terms have been such as:
BofA, two accounts, 4% fee, and choose between ~18 months at 0% APR and ~21 months at 1.99% APR. I have one of the BofA on a 12 month 0% expiring in May 2015, and the other on an 18 month 0% expiring in April 2016. Both were 4% fee to take the BT.
Discover: Currently on a 0% APR finishing in May 2015. That was 3% BT fee, 12 months, combined with a temporary $3k CLI during the same 12 months.
New Discover offers on hand with two options: 0%APR for 18 months from when the BT posts, with a 3% fee. Or, 4.99%APR for 24 months from the BT date, with No BT fee. This one would be tough to choose between, but I need to zero the account in May before deciding anyway.
US Bank: One account is currently on a 0% ~18 month expiring in January 2016. Recent offers for this account are 2.99%APR for 12 months with a 4% fee.
A second USBank account, I took a small portion of a 12-month 0% APR offer, recent offers also of 2.99%APR 12 months with 4% fee.
Capital One, no BT fee, 10.9% interest so it's a nice backup because in order to kite the balances, it is best to zero a card that has a balance left after the 0% finishes to start fresh.
As with anything credit related, YMMV.
