I ended up charging my car insurance on my BofA 0% credit card, but now that I'm crunching the numbers, I won't be able to pay that balance off in time to avoid paying interest.
I already have 2 Discover cards, a Wells Fargo Cash wise, two BofA cards, a Barclays card, a Citibank, an HSBC, a Mountain America, two UCCU cards, and a SSFCU card. I was considering going for a US Bank card, but I've heard they can be demanding.
Ex: 739 2 inquiries
Tu: 747 1 inquiry
Eq: ??? 0 inquiries
AaoA 23 months
8% utilization
$85,600 in credit limits
Advice?
Chase, NFCU, and local credit unions typically have good 0% offers...I personally would lean toward one that has NO balance transfer fee AND 0% offer. Chase is notorious for 15-21 months 0%.
Credit Unions are probably the best solution. Especially if your planing to carry balances time to time.
They mostly offer low APR and no balance transfer fees!
Also Discover offers 0% APR for a year almost every time.
Chase impossible because of 5/24 rule.
Yeah, those are my scores.
OP you are trying to put insurance on a card to pay over time because the 6-month fee is too much to pay at once out of cash flow? Just FYI, the next 6-month lump is coming up soon.
I don't think credit cards are a good answer at all here.
I use the State Farm payment plan. All my policies go in it, so I get one monthly payment to SF which adjusts as policy rates renew / change.
If your insurance company provides a payment plan, I'd suggest using that instead of shopping new CC. An insurance payment plan also makes it plain what your monthly cash flow requirements are for that insurance bundle. If that payment plan is still too much, then your insurance is too expensive and you need to look for places to cut coverages, cut costs.
