Limited-Time Balance Transfer Offer

[wmarat]

https://www.navyfederal.org/membership-benefits/offers-discounts/balanceTransferOffer.php

[Anonymous]

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@wmarat wrote:

https://www.navyfederal.org/membership-benefits/offers-discounts/balanceTransferOffer.php

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0% is sweet!

Yesterday they had a 2.99% BT offer and when talking with the Navy Federal CSR about that he told me I wouldn't regret waiting a week or so before pulling the trigger. 

By the way, just what is in it for Navy Federal by offering free money for a year?  Why do they do that?

[Anonymous]

I'm sure there could be many reasons. 

For one, if you don't pay off the balance within a year, they start collecting interest.  Also, they hope to attract new customers that will use the card after the balance transfer, and they collect merchant fees.  If the attract customers currently not NFCU members, they can sell other products that they wouldn't have been able to previously.