0% Balance Transfer Intro Question

[leegreen]

Yeah I understand the CL issue, you can recon first but there are several cards that offer zero intro rates on balance transfers do you could probably send it to multiple cards.

[Anonymous]

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@leegreen wrote:
Yeah I understand the CL issue, you can recon first but there are several cards that offer zero intro rates on balance transfers do you could probably send it to multiple cards.

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Well, thanks for your input and insight. Didn't mean to highjack the OP's thread, but since it's on-topic, guess I'll pull the trigger and do the BT. I'll garden for the next year and then see what I can do with the balance at that point.

[PedrokiPR]

Hi, thanks for everyone replying. I appreciate it. I guess I'll d the transfer and not use the card at all so that it doesn't trigget any APR

[PedrokiPR]

I did not go through with the Transfer. I contacted Customer Service and asked them. This was their reply:

Dear Pedro :

Thank you for contacting us regarding your Barclaycard Rewards MasterCard. We can certainly address your inquiry regarding the balance transfer on your account.

Your annual percentage rate for purchases is Prime + 21.74, currently 24.99%. Balance transfers and cash advances have no grace period and will accrue interest once they have posted to the account. Interest will continue to accrue until that balance has been paid in full. This may mean you will have a residual amount of interest on the statement following the pay off.

We may offer promotional rates regularly. If an offer becomes available, we will notify you directly. We apologize for any inconvenience this may cause.

If you have any other questions and concerns, please reply to this message.

Sincerely,

Customer Service

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Just letting people know

[Anonymous]

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@PedrokiPR wrote:

I did not go through with the Transfer. I contacted Customer Service and asked them. This was their reply:

Dear Pedro :

Thank you for contacting us regarding your Barclaycard Rewards MasterCard. We can certainly address your inquiry regarding the balance transfer on your account.

Your annual percentage rate for purchases is Prime + 21.74, currently 24.99%. Balance transfers and cash advances have no grace period and will accrue interest once they have posted to the account. Interest will continue to accrue until that balance has been paid in full. This may mean you will have a residual amount of interest on the statement following the pay off.

We may offer promotional rates regularly. If an offer becomes available, we will notify you directly. We apologize for any inconvenience this may cause.

If you have any other questions and concerns, please reply to this message.

Sincerely,

Customer Service

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Just letting people know

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As leegree pointed out, though, that's the direct language from most credit card agreements. Things like cash advances ALWAYS have interest accrue from the date the transaction posts to the account. However, I don't think that applies to 0% BT's because they're special offers. They can't give you a 0% BT offer and then start charging you interest right away. At most, it's deferred so you haev until the promo period expires to do something with that balance (e.g., pay it off, transfer it to another 0% card, etc.).

I went ahead and did the BT. I have until February, 2016 to decide. I'm thinking of app'ing for a Slate (or something comparable) when the time comes. Worst-case scenario, I'll shift the Balance back onto the card I originally had it on, which currently has a BT APR of 8.99%. I'll at least have saved a few hundred dollars on interest I didn't have to pay while it's sitting on my Barclay card.

[Anonymous]

ADVICE NEEDED:

My 15 month 0% APR expires end of October on my Discover Card. 15.99% will kick on first of November with a remaining balance $2,000.

I also have a balance i owe on my Paypal Extras Card accumulating 23.99% APR. But i saw on my Discover Card they are offering me a 3% transfer fee if i want to transfer my balance from my Paypal Card to my Discover Card ($2,000) and pay 0% APR no interest on that for 12 months.

But then i still have the 15.99% i owe on my previous balance on my Discover.

Should i just transfer my Paypal Extras $2,000 and avoid their 23.99% APR and stick with Discovers 15.99% maxing out my Discovers Cards $4,500 limit. 

or just open a new account with someone else (Chase Slate, Citi Simplicity, American Express Everyday,) offering me 18 month 0% APR and transfer both my Paypal Extras  and Discover It balances on a new card instead ?

Or leave it alone and just pay as i usually do. Will take me 3 months. Then all i have is my Bill Me Later (Paypal Credit) with a balance of $3,000 (19.99% APR) But I won't have enough credit line on my Discover for that but if i get a brand new card somewhere i could possibly do it that way without maxing each other out. Basically its just more time for me to pay and catch up on my payment without being penalize or hit with an APR for taking my time paying off my debt. Then maybe i could start saving up too instead throwing all my money each month back on my cards 

[Anonymous]

If you think you've got a shot at a Slate, I'd do that. That's what I'm planning on doing when my intro apr runs out in 2/2016.

[Anonymous]

i thought of slate but was questioning about the rewards or if i can product change afterwards to maybe a freedom or just get a normal card because any card you apply will have a 0% intro rate for 1 year or longer but only slate has no fee for balance transfers i think. i was reading Forums about the citi simpility and it seesm citi giving much higher limits than slate. I got a lot more research to do 

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@Anonymous wrote:

If you think you've got a shot at a Slate, I'd do that. That's what I'm planning on doing when my intro apr runs out in 2/2016.

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and slate seems citi giving higher limits so i got a lot more research to do