anyone have any experience with Citi Driver's Edge?

[Anonymous]

bunny, yeah, I've noticed some banks do it that way, and others don't about adding the BT fee to the min due. I hope your BT fee was capped at least. My last Citi BT promo offered a cap of $75, but it was only for 9 months.

I do have a new car within a 2 year horizon, so I hope to be using my Citi Drivers Edge again soon. (Waiting for some promo BTs to go through, btw, are you aware of residual finance charges? Another quirk of BTs.)

Hauling...flowers by Valentine's Day! Wow! I'm just trying to do what I can to hold off my seed starting (we're still getting snow).

[Anonymous]

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PenguinGeek wrote:
bunny, yeah, I've noticed some banks do it that way, and others don't about adding the BT fee to the min due. I hope your BT fee was capped at least. My last Citi BT promo offered a cap of $75, but it was only for 9 months.

I do have a new car within a 2 year horizon, so I hope to be using my Citi Drivers Edge again soon. (Waiting for some promo BTs to go through, btw, are you aware of residual finance charges? Another quirk of BTs.)

Hauling...flowers by Valentine's Day! Wow! I'm just trying to do what I can to hold off my seed starting (we're still getting snow).

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Hi Penguin, it was no cap and $120.  I never had BT fee before, always no BT fee when I appld, this is my first time experience with BT fee.  What is residual finance charges?  Please tell me.

[Anonymous]

Let's say you have a promo BT offer for 1.9% for X months. If your balance is $100 on the last billing cycle of the promo period, the pay-off amount may not be N. Basically, if you pay $100, you may think you've paid it off. And then you may be surprised to see "residual finance charges" show up on your statement the next month.

So when I want to pay off a promo BT on the last month of the promo period, I ask CSR what the residual finances charges will be, so that when the statement closes, it'll be as close to $0.

US Bank, I've noticed doesn't seem to do "residual finance charges." I have seen this with Chase, Discover and Citi though. Unless it's just my accounts.

[Anonymous]

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PenguinGeek wrote:
Let's say you have a promo BT offer for 1.9% for X months. If your balance is $100 on the last billing cycle of the promo period, the pay-off amount may not be N. Basically, if you pay $100, you may think you've paid it off. And then you may be surprised to see "residual finance charges" show up on your statement the next month.

So when I want to pay off a promo BT on the last month of the promo period, I ask CSR what the residual finances charges will be, so that when the statement closes, it'll be as close to $0.

US Bank, I've noticed doesn't seem to do "residual finance charges." I have seen this with Chase, Discover and Citi though. Unless it's just my accounts.

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I see.  It's like you get charge the interest between the payment date and closing date.  I never had problem with any of my CCCs, which are AMEX, Chase, Citi.  I called and verified the information with them before the promo (0%) is over, and they told me as long as I PIF the statement balance by due date there is no interest charge.  And it was true.  I never got charged interest.  I don't understand why you got charged extra interest. 

[Anonymous]

Bunny, are all your promo BT's at 0%? Some of mine are not, like 1.9, 3.9, etc. 0% residual finance charge would be, $0.

[Anonymous]

It's correct Penguin.  All of them (AMEX Blue, Citi Dividend Platinum, Chase Flexible, Chase Starbucks Duetto Visa) was 0% intro APR on purchase & BT with no BT fee.  Discover More and Citi Driver's Edge I just got it a month a go,  their promo is only for BT and there was 3% BT fees.

Currently I do have promo BT APR on my Chase Starbucks Duetto with 4.99% until balance is PIF.  My expected PIF date will be 02/09'.  Therefore, this card is out of my wallet until then.

Message Edited by bunnyrabbit on 02-22-2008 05:38 AM