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Citi 0% on new purchases for balance transfer?

ragdoll12
Member

Citi 0% on new purchases for balance transfer?

Hello,

 

A friend and I were just talking and I figure if someone knew were to know the answer it would be in this forum. She received an offer for 0% on new purchases only on a Citi credit card with a large credit limit. Is it possible somehow to use this as a balance transfer to pay off a card with a higher interest rate so it would show up as a "new purchase?"

Message 1 of 3
2 REPLIES 2
Remedios
Moderator

Re: Citi 0% on new purchases for balance transfer?


@ragdoll12 wrote:

Hello,

 

A friend and I were just talking and I figure if someone knew were to know the answer it would be in this forum. She received an offer for 0% on new purchases only on a Citi credit card with a large credit limit. Is it possible somehow to use this as a balance transfer to pay off a card with a higher interest rate so it would show up as a "new purchase?"


Not unless card has BT offer. 

BT isn't considered a purchase. 

When someone asks you *What's wrong*, and you're not sure if you want to start listing it in alphabetical or in order of importance.
Message 2 of 3
dogmeat
Contributor

Re: Citi 0% on new purchases for balance transfer?

As mentioned, a purchase APR promo cannot directly be used as a BT, but if your friend has monthly expenses, some or all of those expenses could be re-routed to the Citi card for the next few months.  They'd only ever have to pay the minimum payment (typically 2-3% of balance) every month and would pay no interest for the duration of the promotion (typically a year). All the cash money they would have used to pay bills/expenses (minus the minimum payment to Citi) goes to the card with the high-interest balance.  Utilities, groceries, dining, entertainment, transportation, insurance, etc.

Message 3 of 3
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