topic Re: Need 0% Intro APR cards, how to proceed? in Credit Cards

Need 0% Intro APR cards, how to proceed?

Ahava18 — Sun, 06 Jan 2019 00:21:13 GMT

My friend wants some advice on getting 0% Intro APR cards for some personal and business expenses. Based on his credit what is the best path forward?

His current lineup:
Honda lease 5 months left $1747 Bal
Mortgage 500K 10 months old
Amex 6K, 15 Months, 0 util
Amex 10K, 57 Months, 0 util
Chase 9K, 50 Months, 33 util
Chase 37K, 28 Months 0 util
Chase 3.7K, 76 Months 0 util

He can pay off the one chase card. How much util should he leave on it, below 5 or 9?
What cards with 0% Intro APR would he have the best chance at getting a high starting CL. Ideally 1-2 cards should also have a 0% BT fee to pay off some other cards.

All advice is greatly appreciated.

Re: Need 0 APR cards, how to proceed?

UpperNwGuy — Sat, 05 Jan 2019 13:13:22 GMT

There are no 0% cards. However, there are a number of cards that offer balance transfers at 0% for a fixed period of time, usually ranging from 12 months to 21 months. Some of the cards charge a 3% balance transfer fee, while others don't. Check out Chase Slate, Citi Simplicity, and your local credit union. There are others.

Re: Need 0 APR cards, how to proceed?

HeavenOhio — Sat, 05 Jan 2019 13:52:36 GMT

@Ahava18 wrote:
He can pay off the one chase card. How much util should he leave on it, below 5 or 9?
What 0 APR cards would he have the best chance at getting a high starting CL. Ideally 1-2 cards should also have a 0% BT fee to pay off some other cards.

His profile is in excellent shape right now. But he can optionally bring his Chase card below 27% for a slightly better look. 27% would bring him below the 28.9% threshold and leave some wiggle room for any interest that might be charged on the next statement. If he brings his balance down, he should call and ask Chase to report it. They're among the few banks that update credit reports upon request. (Discover is another.)

Tell him NOT to bring his Chase balance to zero before applying. That'll result in the "all cards at zero" penalty. Of course, he should pay off his balance ASAP when his applications are done. If he'd like to pay as much as possible right now to minimize interest, he can bring his balance down to $10 or so (and ask Chase to report it).

Re: Need 0 APR cards, how to proceed?

Ahava18 — Sun, 06 Jan 2019 00:30:55 GMT

@UpperNwGuy wrote:
There are no 0% cards. However, there are a number of cards that offer balance transfers at 0% for a fixed period of time, usually ranging from 12 months to 21 months. Some of the cards charge a 3% balance transfer fee, while others don't. Check out Chase Slate, Citi Simplicity, and your local credit union. There are others.

Of course that's what I meant. I totaly forgot to specify that I was looking for the best 0% INTRO APR cards to aim for. I know there are many options out there with an intro APR, my question is, which lenders will start with the best CL based on his credit profile. Aditionally, how many cards is safe to open at once, 3, 5 or just 1.

I wish there was a 0% APR for ever card, but the only such card I know of is my debit card.

Re: Need 0 APR cards, how to proceed?

Pikaboo-icu — Sun, 06 Jan 2019 01:42:04 GMT

@Ahava18 wrote:
RO APR cards to aim for. I know there are many options out there with an intro APR, my question is, which lenders will start with the best CL based on his credit profile. Aditionally, how many cards is safe to open at once, 3, 5 or just 1.

I wish there was a 0% APR for ever card, but the only such card I know of is my debit card.

They're all 0% if you PIF every month.

Re: Need 0 APR cards, how to proceed?

TheBoondocks — Sun, 06 Jan 2019 04:30:44 GMT

All you could do is PIF without no interest. Also, sometimes credit cards don't have the promotion so there's 2 banks that I banked with and they send me 0% BT checks all the time... that would work.

However, lets say you don't have that cause to be honest it took me 4-5 years to get that offer with one bank before and then another bank started to offer me. Both constantly lol... anyway, if you don't have no other option I would transfer it to a fix rate APR credit card. You may be paying 12-15% interest but that's better than paying 22-25%. I don't know of another way but to apply for new credit cards.

Hope it helps bro.

Re: Need 0% Intro APR cards, how to proceed?

Ahava18 — Wed, 09 Jan 2019 01:58:16 GMT

I'm surprised that I haven't gotten more responses to directly answer the main question. I was expecting a lot more posts advising what are the top cards to aim for.

If the OP isn't clear enough, please ask me for clarification.

Re: Need 0% Intro APR cards, how to proceed?

Anonymous — Wed, 09 Jan 2019 13:19:59 GMT

I am not saturated in the game for last 6 mo or more

but bank of america has/had 0% purchase and BT for 18 month when I signed up just over 18 months ago.

check their site out.

Re: Need 0% Intro APR cards, how to proceed?

Brian_Earl_Spilner — Wed, 09 Jan 2019 13:33:08 GMT

SMH, this forum never ceases to amaze me. OP asks for 0% cards and people keep saying to PIF. Sometimes people need to make a large purchase they can't PIF or want to carry a balance for a bit. Just answer the question instead of being cheeky.

OP: you didn't specify what chase or Amex cards he has. Since he has a relationship with them, maybe look at the chase slate or amex everyday

Re: Need 0% Intro APR cards, how to proceed?

Anonymous — Sun, 10 Feb 2019 13:20:58 GMT

I agree the op asked a simple question..
If u get in with DCu visa they do 0 Apr every January for six months on Bt. ( I know I'm a bit late) but also u could probably get a loan at a good percent plus cards are like 10.75 Apr right now.
I'm looking for the same thing as you something to move my debt in July when offer ends
Honestly I'm probably going to get Disco again.
I started with secured card 8 months later I had a 2000$ limit. Now my DW has a secured card same plan.
Us bank pre qualified me when I had 5% utilization I was pre qualified once my utilization went to 27 I wasn't. This leads me to believe it is a somewhat easier card to qualify for.
Hope this helps and hope you get an answer from others because I'm curious myself.

Re: Need 0% Intro APR cards, how to proceed?

Anonymous — Sun, 10 Feb 2019 13:38:05 GMT

@Ahava18 wrote:
I'm surprised that I haven't gotten more responses to directly answer the main question. I was expecting a lot more posts advising what are the top cards to aim for.

If the OP isn't clear enough, please ask me for clarification.

Maybe look into the Amex BBP (Blue Business Plus). Card comes with 0% for 15 months and it doesn’t show up on your personal report. It has a 3% fee though. I also think max you can transfer is 7500 with Amex however. Also look into the Bankamericard (regular one). That card has a 0% BT fee and 0% APR on BT/Purchases for 15 months.

Re: Need 0% Intro APR cards, how to proceed?

Anonymous — Sun, 10 Feb 2019 14:25:27 GMT

+1 on the Amex BBP, with that profile, if the chase card can go down to 10% then a higher limit SL should kick in. The SL can also be recon’d after receiving the card to possibly 2x or more and it doesn’t hurt to ask. BT fee is 3% but I don’t think that matters as this is gonna be used for future expense, correct? This is a 0% apr offer for 15 months.

@mr_suave the BT offer is max 75% of SL (personally did 13k out of 18k SL)

Re: Need 0% Intro APR cards, how to proceed?

dlister70 — Sun, 10 Feb 2019 15:44:48 GMT

Discover It had 14 months of 0% interest on purchases and transfers (but there is a fee to transfer) when I got mine. Amex Everyday had 15 months of 0% interest on purchases and transfers, and no transfer fee.

I couldn't find a card with more than 15 months on purchases, but there were several that had 15 (Quicksilver, SavorOne, Freedom, Everyday). The Citi Simplicity has 21 months on transfers, but there is a 5% transfer fee.

I'm not sure if we're supposed to link other websites, but I just googled for 0% interest credit cards and found several lists that might help your friend know where to start.

Re: Need 0% Intro APR cards, how to proceed?

Anonymous — Sun, 10 Feb 2019 18:39:07 GMT

If there is military affiliation in the family, NFCU Plat is a good option that normally ends up with huge limits if the DTI supports them. 12 months at 0% with no fee.

If there is no military affiliation, the PenFed Gold is a similar offering and anyone can join. 0% for 12 months with no fee.

Honestly just hit up Google and search for balance transfer credit union cards. Also check for credit unions locally because there can be some gems.

Most of the big issuer cards will have a fee between 3-5% on the BT which is extremely costly.