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Applying for a Balance Transfer Card (with zero interest for a specified time period)

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New Member

Re: Applying for a Balance Transfer Card (with zero interest for a specified time period)

THANKS VERY MUCH for all the helpful ideas!

 

Right now, I’m considering three cards: “Citi Simplicity”, “Citi Diamond Preferred” and “Discover it”. All three have a 3% BT fee. There are 0% interest cards out there with no BT fee but I’ve not yet found one that looks good to me.

 

Good idea about the military credit unions. I was a PenFed member years ago and probably could re-join. Navy Federal is hyping a 0% for 12 mos BT card (with no BT fee!) but there are some other things I don’t like about that card. PenFed has several cards with 0% for 12 mos on BTs, all with a 3% BT fee. Overall, none of the CU cards are as good (for my purposes) as the three I’m already considering.

 

Soon I’m going to pick the card that seems to best meet my needs and submit an application. Because, as I understand it, the results of an on-line application are more or less instant, it shouldn’t take long for me to figure out if I need more than one new 0% interest BT card in order to transfer the full $16k.

 

Taking a cash advance from a new 0% Chase Slate card with a CL of at least $16k and using that money to pay down my other Chase card (the one with the $16k balance) would probably work … except that the Slate cash advance fee is 5%.

Message 11 of 13
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Valued Contributor

Re: Applying for a Balance Transfer Card (with zero interest for a specified time period)


@Guardian4302 wrote:

THANKS VERY MUCH for all the helpful ideas!

 

Right now, I’m considering three cards: “Citi Simplicity”, “Citi Diamond Preferred” and “Discover it”. All three have a 3% BT fee. There are 0% interest cards out there with no BT fee but I’ve not yet found one that looks good to me.

 

Good idea about the military credit unions. I was a PenFed member years ago and probably could re-join. Navy Federal is hyping a 0% for 12 mos BT card (with no BT fee!) but there are some other things I don’t like about that card. PenFed has several cards with 0% for 12 mos on BTs, all with a 3% BT fee. Overall, none of the CU cards are as good (for my purposes) as the three I’m already considering.

 

Soon I’m going to pick the card that seems to best meet my needs and submit an application. Because, as I understand it, the results of an on-line application are more or less instant, it shouldn’t take long for me to figure out if I need more than one new 0% interest BT card in order to transfer the full $16k.

 

Taking a cash advance from a new 0% Chase Slate card with a CL of at least $16k and using that money to pay down my other Chase card (the one with the $16k balance) would probably work … except that the Slate cash advance fee is 5%.


Sounds like you have a plan, let us know how the applications go.

 

Good luck OP!!




FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

FICO 9 Scores EQ 726 / Goal 750, EX 683 / Goal 750, TU 726 / Goal 750
Message 12 of 13
New Member

Re: Applying for a Balance Transfer Card (with zero interest for a specified time period)

Will do!

Message 13 of 13
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