Credit Card Promotion Ending Soon

[lemon_taiyaki]

I'm sure i've seen a post about this before but I can't find it. 

My credit cards are reaching their 1 year mark. Promotions ending Oct/Jan, can I ask for another promotion once it ends? Do people do that? 

[Remedios]

Immediately afterwards, no.

In time, some lenders may offer reduced apr for certain period of time, or another 0% promo, but not right away. 

[K-in-Boston]

It depends on the lender and the promo.  Usually the answer is a firm no.  If the promo is a 0% APR, the answer would almost universally be no.  Discover has been known to grant additional 0% APR offers, but that would be on new purchases only and would not apply retroactively to purchases prior to the new promo.  If the promo was on a 0% or low APR balance transfer, the answer will always be no; the reason lenders offer BTs at low rates is in the hope that they will not be paid off during the promo period and will then accrue interest at 10-25% later.

[notmyrealname23]

You're basically asking the bank to pass up ever making money on loaning you money by daisy chaining 0% APR promo offers.

That isn't really how banks work...

[FlaDude]

Assuming you are asking about balance transfer promos, expect to have a 3-5% BT fee if you do get another promo. That said, it seems like balance transfer options in general are really drying up over the last few months. I used to get at least 3-4 sets of BT checks in the mail every month from my cards, now I don't remember the last time that happened. I just checked a couple of my cards on-line that always had BT offers but nothing there now. I know I read a thread on the topic a month or two ago where others were reporting the same.

[zerofire]

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@lemon_taiyaki wrote:

I'm sure i've seen a post about this before but I can't find it. 

My credit cards are reaching their 1 year mark. Promotions ending Oct/Jan, can I ask for another promotion once it ends? Do people do that? 

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You can ask but I can assure you that the answer from any existing lender will be no. Also people generally do not do that. Banks make money at the high interest rates but not on the promos. On the promo it is introductory because the bank usually barely breaks even and gets the fee up front. They do not like giving you money for a year without interest. Any promo will be with a new lender and even then only one that is brave enough to to tolerate it in this pandemic.

[pinkandgrey]

Disco actually did extend my initial promo period as I got close to the end. And then they granted me ANOTHER one about a year later. If a lender is going to do it, it would probably be Disco. 

[FlaDude]

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@pinkandgrey wrote:

Disco actually did extend my initial promo period as I got close to the end. And then they granted me ANOTHER one about a year later. If a lender is going to do it, it would probably be Disco. 

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In the past, I've had BOA make additional BT offers while I still had a 0% BT balance. Not since March though, they are now offering me a BT at 18% and I've been PIF for almost a year with them.

[Anonymous]

If you have excellent credit, you have a shot at it, especially with DISCOVER. Even a 0% on purchases right now could work with the fed rate at 0%. At least they can get swipe fees and maybe you can't pay it off when it ends.