topic Re: Need Suggestions in Credit Cards

Need Suggestions

Bsong — Tue, 11 Jun 2013 16:07:48 GMT

Hi Everyone...

Im in need of some suggestions for my wife. She currenlty has a US Bank Flex Perks card that she uses all the time and pays if off in full every month. This month, she plans to hold a balance since we are working on purchasing business and need to have cash in the bank. Unfortunately, her card isnt the best when holding a balance since the rate is at 24%.

I was wondering if you guys have any suggestions that would offer the following:

1. No fee on balance transfer (if thats even possible)

2. 12+ months of 0% interest

3. Offers rewards for travel (I know this one is off but thats the feature that she loves most about the flex perks)

Credit Status:

Scores accross the board is 750+

AAoA: 2 years

No derogs, no lates, clean record.

As always, thanks in advance!

Re: Need Suggestions

Anonymous — Tue, 11 Jun 2013 16:07:14 GMT

if she can qualify, USAA and NFCU have those types of offers.

Re: Need Suggestions

Bsong — Tue, 11 Jun 2013 16:09:21 GMT

@Anonymous wrote:
if she can qualify, USAA and NFCU have those types of offers.

I think she has considered that but wouldnt that take some time to apply for? Meaning, first she has to be a member and wait another 2 - 4 weeks before she can apply for a credit card and another 7 - 10 days to get the card?

Re: Need Suggestions

emptypockets — Tue, 11 Jun 2013 16:40:13 GMT

When I got my Freedom Card, Chase had 15 mos 0% for purchases and cash advances, not sure how much the BT fee is. Also check into BOA Better Balance Rewards (I got 15 mos 0% BT - had a fee though) , but has cash back for every quarter you carry a balance and pay on time and more than the minimum. Also check the BOA BankAmericard Travel rewards card, it may have a BT option and earns 1.5% towards travel.

Re: Need Suggestions

Anonymous — Tue, 11 Jun 2013 16:45:51 GMT

No matter what, you should at least be able to make the minimum payments on your existing card regardless of approval. That being said, if it were me I would do the following.

Use your existing card, and BT it over once you're approved. Approved or not, you'll need to use your existing card in the interim time before recieving your newly applied for CC's right? They offer expedited shipping on cards, so your proposed 2-4 week time frame for approval could still technically fall within the 25 day purchase grace period for your existing card.

Let it be known though, that I am not familiar with how long it takes to get approved with NFCU or USAA. I've been a full member of NFCU for 26 years (since I was a youngin), and USAA for 16 (was still a teen), so I never paid attention to how long it actually took.

Re: Need Suggestions

HiLine — Tue, 11 Jun 2013 16:42:52 GMT

BofA charges 4% for balance transfers. Discover probably charges less.

Re: Need Suggestions

emptypockets — Tue, 11 Jun 2013 16:45:20 GMT

Also, look into Alliant credit union (if not eligible by where you live, everyone is eligible by making $10 donation to Foster Care for Success). They have not BT fees, and low intro rates on their cards as well.

Re: Need Suggestions

Anonymous — Tue, 11 Jun 2013 16:51:00 GMT

Citi bank loves balance transfers, Chase Slate both have 3% balance transfer fee but worth it over paying 25% that's about 1 months worth of interest for 12-15 months.

Depending how much you guys owe, if it's a small amount there are easy cheap ways to transfer the balances for very cheap if you're creative.

Re: Need Suggestions

09Lexie — Tue, 11 Jun 2013 18:10:12 GMT

Chase Slate is 0% APR /0%BT fee for the first 15 mos. Most CUs offer no BT fees not sure if they also have 0% APR for 12+ mos.