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Jnbmom
Credit Mentor

Service FCU

I got a balance transfer offer for 0%, great then I read further it is good for 3months 😳3 months that's kinda ridiculous if you ask me .

EXP 780 EQ 798 TU 804
Message 1 of 19
18 REPLIES 18
FinStar
Moderator Emeritus

Re: Service FCU


@Jnbmom wrote:

I got a balance transfer offer for 0%, great then I read further it is good for 3months 😳3 months that's kinda ridiculous if you ask me .


Do you mean the offer expires in 3 months or does the duration of the BT only lasts 3 months? 

I don't have Service FCU products, but I'm assuming no BT fee, right?

Message 2 of 19
Jnbmom
Credit Mentor

Re: Service FCU


@FinStar wrote:

@Jnbmom wrote:

I got a balance transfer offer for 0%, great then I read further it is good for 3months 😳3 months that's kinda ridiculous if you ask me .


Do you mean the offer expires in 3 months or does the duration of the BT only lasts 3 months? 

I don't have Service FCU products, but I'm assuming no BT fee, right?


Yes no fee but duration 3 months then Apr is 18%

EXP 780 EQ 798 TU 804
Message 3 of 19
OmarGB9
Community Leader
Super Contributor

Re: Service FCU

Dang, I've never seen such a short BT offer period. 😳


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 4 of 19
805orbust
Valued Contributor

Re: Service FCU

@OmarGB9  I think the Redstone VS was exactly the same for the intro BT offer. I remember chuckling when I read it.



Message 5 of 19
FinStar
Moderator Emeritus

Re: Service FCU


@805orbust wrote:

@OmarGB9  I think the Redstone VS was exactly the same for the intro BT offer. I remember chuckling when I read it.


@805orbust - no, that's inaccurate.

 

The Redstone FCU Visa Signature provides the following BT offer (not 3 months in BT duration):

 

0% Intro APR for 6 months on balance transfers made within the first 30 days. After that, APR will range from 16.25% variable - 18.00% variable

Message 6 of 19
FinStar
Moderator Emeritus

Re: Service FCU


@Jnbmom wrote:

@FinStar wrote:

@Jnbmom wrote:

I got a balance transfer offer for 0%, great then I read further it is good for 3months 😳3 months that's kinda ridiculous if you ask me .


Do you mean the offer expires in 3 months or does the duration of the BT only lasts 3 months? 

I don't have Service FCU products, but I'm assuming no BT fee, right?


Yes no fee but duration 3 months then Apr is 18%


I can see if someone wants to park a BT for a longer period where this may be a disadvantage, but if 90 days is only needed to retire the balance, then that could be doable.

 

Also, from an investments perspective, if someone wants to take advantage of it and the short duration is simply a 'bridge', then it can be lucrative -- depending on the CL. As there is no BT fee, it can be advantageous for some.

 

I would assume that Service FCU may allow a BT as a deposit/internal account transfer into a checking account?

Message 7 of 19
805orbust
Valued Contributor

Re: Service FCU

Oh yeah, it was the 6 months that made me chuckle.  Although in reality, I've never used a 0% BT offer for over 4 months or so.  



Message 8 of 19
Guyatthebeach
Valued Contributor

Re: Service FCU

Jnbmom,

 

3 month BT offer? I've never seen such foolishness before.  I'd have to question why I have that credit card and do business with a CU that does that!

 

Guyatthebeach

Message 9 of 19
Anonymous
Not applicable

Re: Service FCU

@Jnbmom

For the first time since 2011, Citi Bank sent me a BT offer (Note, I have a spotless record and was at 850 Fico 8 for five years). Smiley Happy 

The Apr rate is 9.99% with a fee of 2% and it expires September 1, 2023 where upon it goes to a Variable Rate of 18.49% ... ? Smiley Sad

 

What to say? Smiley Surprised

Message 10 of 19
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