Chase Visa Offer

[Anonymous]

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@Anonymous wrote:

Chase also usually has very good balance transfer/lifetime of the loan offers. So even after the 15 month, 0% intro rate expires, you'd probably be receiving some very good promotional rate offers on the Chase credit card account. I bought a car in November of 2005 with a Chase 2.99% fixed for the lifetime of the balance, promotional check. I never thought that I would ever purchase an automobile with a credit card. However, at that time, the lowest APRs for 3 year auto loans were 5% and higher. I saved several hundred dollars buying a car with the 2.99% fixed check offered on my Chase credit card account.

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Whoa! That's unheard of. At least by me. Am I understanding it correctly? Does this mean that you pretty much purchased a car with a 2.99% interest 'loan'? You also said that it was a promotional type of check, so that also must've made the rate so low. Can you maybe elaborate on what kind of relationship you have with Chase? Like how many accounts (CC, checking, savings, anything) you have with Chase, what your CL is/are, age of account(s), etc. And can you also let us know how that entire deal came to be. Like did you ask for it? Did they just offer this to you? What other kinds of offers have you seen from them in the past? Thanks. I think many people would learn a lot from this experience.

[Anonymous]

ficus--I purchased a 2006 Honda Accord EX with a 2.99% APR convenience/promotional check that posted to my Chase Visa account.  I have 2 credit cards with Chase--A Chase Freedom Visa (opened in 3/1986, CL-$29,300) and a Chase Platinum Rewards Visa (opened in 10/1994, CL-$33,300 [this is the one that I used to purchase the car]).  That's it--no savings, checking or other Chase accounts.  Monthly, Chase always gives me promotional rate offers on my cards--and always at rates below Prime.  I do know that others receive these offers--In August, my parents also bought  a car using a Chase promotional check at a 3.99% APR.  Sometimes they'll offer .99% or 1.99% limited time rates (ones that expire in 6-10 months). 

EQ-804/EX-839/TU-806

[SmartCookie]

I love Chase!  Check out all of their card offers... usually if you qualify for one, there are others that might suit you better.  They do convert cards also.  They do not give automatic CLIs, you have to ask... and they are accomodating.

I've got 3 cards with them, no other affiliations.  My FICOs are low 700's right now and my lowest BT offers (which sometimes I take as a bank check if the rate is good and I have anything to pay off) are:

0% APR till 4/1/08 billing cycle

4.99 APR fixed till PIF

6.99 APR fixed till pif with no fee

The offers change every month or so and are a bit individualized... with a good history, if you pay a big balance off or are not using the particular card much, they will throw in a particularly good rate out of the blue.   The BT rates are the same rates and conditions as the promo checks they send with the bill... at least with my 3 cards.

[SmartCookie]

I should add... psychic has primo FICOs so don't count on getting those rates just yet!

The lowest BT I believe I ever got for a fee free + lifetime was 3.99% fixed, and I took it to pay off bills some years ago.  Chase deposited the cash right into my checking account for me to use as I pleased.