I just have a couple of cards with balances that are from cards with 0% APR that are expiring soon. I have about $2k that I need to move, and I think I found their new home until paid off. I don't think I can turn down this offer for transferring by 6/30/18 and doesn't have to be paid off until Dec., 2019 and a 0% balance transfer fee!! I've never had an offer like that before. This is on my BJs card, which is offered by Comenity Bank. That's the only thing that slightly worries me is that it's Comenity. Has anyone else received this offer recently and is there something hidden I might not have noticed yet? I've always heard if something is too good to be true, it probably is. Hopefully not in this case.
@Anonymous wrote:I just have a couple of cards with balances that are from cards with 0% APR that are expiring soon. I have about $2k that I need to move, and I think I found their new home until paid off. I don't think I can turn down this offer for transferring by 6/30/18 and doesn't have to be paid off until Dec., 2019 and a 0% balance transfer fee!! I've never had an offer like that before. This is on my BJs card, which is offered by Comenity Bank. That's the only thing that slightly worries me is that it's Comenity. Has anyone else received this offer recently and is there something hidden I might not have noticed yet? I've always heard if something is too good to be true, it probably is. Hopefully not in this case.
Comenity has offered the same offer thru other cards in the past such as the Sportsman Guide Visa and I have made use of it without any problem, as have others.
@Anonymous wrote:
@Anonymous wrote:I just have a couple of cards with balances that are from cards with 0% APR that are expiring soon. I have about $2k that I need to move, and I think I found their new home until paid off. I don't think I can turn down this offer for transferring by 6/30/18 and doesn't have to be paid off until Dec., 2019 and a 0% balance transfer fee!! I've never had an offer like that before. This is on my BJs card, which is offered by Comenity Bank. That's the only thing that slightly worries me is that it's Comenity. Has anyone else received this offer recently and is there something hidden I might not have noticed yet? I've always heard if something is too good to be true, it probably is. Hopefully not in this case.
Comenity has offered the same offer thru other cards in the past such as the Sportsman Guide Visa and I have made use of it without any problem, as have others.
Since my available credit is $12k, should I be concerned about the 30% rule? In other words don't move any more than $3,600?
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:I just have a couple of cards with balances that are from cards with 0% APR that are expiring soon. I have about $2k that I need to move, and I think I found their new home until paid off. I don't think I can turn down this offer for transferring by 6/30/18 and doesn't have to be paid off until Dec., 2019 and a 0% balance transfer fee!! I've never had an offer like that before. This is on my BJs card, which is offered by Comenity Bank. That's the only thing that slightly worries me is that it's Comenity. Has anyone else received this offer recently and is there something hidden I might not have noticed yet? I've always heard if something is too good to be true, it probably is. Hopefully not in this case.
Comenity has offered the same offer thru other cards in the past such as the Sportsman Guide Visa and I have made use of it without any problem, as have others.
Since my available credit is $12k, should I be concerned about the 30% rule? In other words don't move any more than $3,600?
Honestly with your scores in the 800+ I wouldn't lose a second of sleep transferring up to even 50% if it saves you money in interest on another card! Golden rule is kinda 30%, but you have a very strong profile and won't see any AA maybe a few point ding, but nothing your score can't handle IMO. Rather save money than a few points of score if you need to transfer more..
@CreditCuriosity wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:I just have a couple of cards with balances that are from cards with 0% APR that are expiring soon. I have about $2k that I need to move, and I think I found their new home until paid off. I don't think I can turn down this offer for transferring by 6/30/18 and doesn't have to be paid off until Dec., 2019 and a 0% balance transfer fee!! I've never had an offer like that before. This is on my BJs card, which is offered by Comenity Bank. That's the only thing that slightly worries me is that it's Comenity. Has anyone else received this offer recently and is there something hidden I might not have noticed yet? I've always heard if something is too good to be true, it probably is. Hopefully not in this case.
Comenity has offered the same offer thru other cards in the past such as the Sportsman Guide Visa and I have made use of it without any problem, as have others.
Since my available credit is $12k, should I be concerned about the 30% rule? In other words don't move any more than $3,600?
Honestly with your scores in the 800+ I wouldn't lose a second of sleep transferring up to even 50% if it saves you money in interest on another card! Golden rule is kinda 30%, but you have a very strong profile and won't see any AA maybe a few point ding, but nothing your score can't handle IMO. Rather save money than a few points of score if you need to transfer more..
Okay thanks for the reply. Actually my TU score is now 825 according to the Discover score as of today. I wouldn't be going over 30% anyway. Oh and I submitted for a CLI on the Comenity card and it was just changed to $13,500 with a soft hit. I use the card a lot but always pay it off each month. I figured I should do that before I do the BT.
No problem at all with BTs on the BJ’s card. I just paid one off myself that was around $10k. The “gotcha” with this is of course the loss of grace period, so any new purchases would begin to accrue interest immediately if you don’t pay the full statement balance (which includes the BT); that would seriously cut into the 5% back. FWIW the $75 membership fee charged to the card automatically didn’t accrue interest. Protip: you can get a SP CLI every 4 months with this card.
