First and foremost, I never carry a balance on my AMEX Blue Cash Everyday (3K Limit) and Capital One Venture (10K Limit) they're PIF every month. I recently purchased concert tickets that totaled 1.1K on my AMEX that will be PIF when my next statement is due. However, I would like to possibly take advantage of the BT Capital One is offering me.
"Transfer a balance today and get a 0% APR for 18 months with a 2% fee."
Yes, I can PIF that's not a problem... but if I could do break that purchase over about 6 months I wouldn't really mind the 2% fee. I would prefer to have that cash in my bank account "just in case."
My question is how does it actually work? I read the terms and I don't think I fully understand them. I carry a balance every month on my Capital One card usually in the $600 to $1000 range that gets PIF and I wanna continue to do that so I don't get charged any interest on that. The way the terms are stated it seems like I can with the "Interest Saver Payment" however I would only be paying the minimum due for the Balance Transfer. I guess my question is, can I continue to PIF and pay whatever amount I want towards the Balance Transfer?
Example
Month 1: Monthly Transactions = $600
Balance Transfer $,1000
I pay $800 (600 towards balance and 200 towards BT)
Month 2: Monthly Transactions = $700
Balance Transfer $800
I pay $900 (700 towards balance and 200 towards BT)
I hope I'm making sense and sorry for the long post. I appreciate any help and clarification.
