topic Re: 0% BT offers - RTFFP in Credit Cards

0% BT offers - RTFFP

marty56 — Tue, 29 Mar 2011 22:20:38 GMT

I just got a final notice for a 0% BT offer from National City. The fine print stated it was for 1 year with a 4% BT fee not to exceed $150. Doing some quick Marty math, I determined that the offer was not so great if you borrowed less than 4k and PIF'd before the term period.

I don't have a balance and I like my National City card, it was the first post DMP card I got but it kinda reminded me of the sub-prime CC ofers that stated they didn't have a yearly/monthly fee but charge a $200 processing fee.

Re: 0% BT offers - RTFFP

DI — Wed, 30 Mar 2011 18:33:07 GMT

@marty56 wrote:
I just got a final notice for a 0% BT offer from National City. The fine print stated it was for 1 year with a 4% BT fee not to exceed $150. Doing some quick Marty math, I determined that the offer was not so great if you borrowed less than 4k and PIF'd before the term period.

I don't have a balance and I like my National City card, it was the first post DMP card I got but it kinda reminded me of the sub-prime CC ofers that stated they didn't have a yearly/monthly fee but charge a $200 processing fee.

It would be nice to get those types of offers without the BT fee. I would quickly transfer the available credit to my savings. I miss the old days!

Re: 0% BT offers - RTFFP

cdtotten — Wed, 30 Mar 2011 18:38:32 GMT

My wife actually got an offer in the mail for a new Discover card, and it would offer 0% on purchases and BTs until June 2012, with no balance transfer fee!

Now we don't need to transfer any money and have no need for a new card, so aren't going to do it, but that was the first time I saw a bank offer a BT offer without a fee. Most CUs dont charge a fee to transfer, but never seen it from a bank.

Re: 0% BT offers - RTFFP

MarineVietVet — Wed, 30 Mar 2011 18:44:39 GMT

@cdtotten wrote:
My wife actually got an offer in the mail for a new Discover card, and it would offer 0% on purchases and BTs until June 2012, with no balance transfer fee!

Now we don't need to transfer any money and have no need for a new card, so aren't going to do it, but that was the first time I saw a bank offer a BT offer without a fee. Most CUs dont charge a fee to transfer, but never seen it from a bank.

That is a pretty good offer.

I wish existing Discover customers were offered something similiar. For many months the BT offer for me has been stuck at 9.9% for a year with a 5% fee with no maximum.

No thanks.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: 0% BT offers - RTFFP

DI — Wed, 30 Mar 2011 18:50:31 GMT

@cdtotten wrote:
My wife actually got an offer in the mail for a new Discover card, and it would offer 0% on purchases and BTs until June 2012, with no balance transfer fee!

Now we don't need to transfer any money and have no need for a new card, so aren't going to do it, but that was the first time I saw a bank offer a BT offer without a fee. Most CUs dont charge a fee to transfer, but never seen it from a bank.

I never had balances to transfer to. So my way of taking advantage of the offers was transferring to an online savings account. BOA made it easy and started depositing the money into checking account.

Re: 0% BT offers - RTFFP

Anonymous — Wed, 30 Mar 2011 21:11:33 GMT

@MarineVietVet wrote:
@cdtotten wrote:
My wife actually got an offer in the mail for a new Discover card, and it would offer 0% on purchases and BTs until June 2012, with no balance transfer fee!

Now we don't need to transfer any money and have no need for a new card, so aren't going to do it, but that was the first time I saw a bank offer a BT offer without a fee. Most CUs dont charge a fee to transfer, but never seen it from a bank.
That is a pretty good offer.

I wish existing Discover customers were offered something similiar. For many months the BT offer for me has been stuck at 9.9% for a year with a 5% fee with no maximum.

No thanks.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Discover keeps hounding me with BT offers of 0% for 12 months or some low rate, like 3.99% for 18 months. However, both have a 3% or 5% BT fee. I haven't seen 0% 0 fee offers even for a new application. Granted, I haven't been looking either.

Re: 0% BT offers - RTFFP

Anonymous — Wed, 30 Mar 2011 21:13:27 GMT

@DI wrote:

@cdtotten wrote:
My wife actually got an offer in the mail for a new Discover card, and it would offer 0% on purchases and BTs until June 2012, with no balance transfer fee!

Now we don't need to transfer any money and have no need for a new card, so aren't going to do it, but that was the first time I saw a bank offer a BT offer without a fee. Most CUs dont charge a fee to transfer, but never seen it from a bank.
I never had balances to transfer to. So my way of taking advantage of the offers was transferring to an online savings account. BOA made it easy and started depositing the money into checking account.

People used to do that a lot back in the day of free money offers. They would go on app sprees for like 30 cards at a time and get some $20K in no fee, no interest BT offers and put them all in 12 month CDs, then pay off the cards. I don't remember if people did that on these forums or other forums, but I haven't seen it in a while.