Jump to content

Best 0% Issuers (either purchases or BT)


The last post in this topic was posted 2235 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

Hi,

 

I have no debt, and have built up a large credit line from a history of AoRs (to earn signup bonuses), currently around $280k.

 

I am interested now in creating relationships with credit issuers that have a history of giving out 0% APR offers to current cardholders.

 

I plan to leverage the 0% offers (with low BT fees) to invest in the market in mutual funds that I consider to be a reasonable risk tolerance for me. I understand that I could lose money, but in the long run if I do this every year and have a stable income that I can repay back on down years, I should make money. I already understand the risks and they are acceptable to me, but I warn that others should not follow this lead if they do not fully understand the risks.

 

I have heard that Penfed / NFCU both have a history of giving large credit lines and good 0% b/t transfer offers to existing customers.

 

I have tried searching for a comprehensive list of other "nice" issuers like this, but couldn't find any others.

I am looking for an app o rama where I "get in the door" with the "nice" issuers so that in the future I have a nice stream of 0% APR offers.

 

Could someone please give me some pointers?

 

Thanks!

Link to post
Share on other sites

I was just approved for a Chase Slate yesterday for the BT. they low-balled me with a $3200 CL, but it says that you can call when you receive the card and ask them for a higher limit. we'll see how that works out. I have 2 current cards with $7500 limits, so I'm hoping for the same.

 

BTW they pulled EX and TU, not EQ. that's strange for me as every Chase experience I've had in the past has always been that they use EQ.

Edited by shifter
Link to post
Share on other sites

Thanks everyone.

 

I agree that Slate is probably one of the the best 0% APR card to apply for with no fees, but I was wondering more about being able to reliably do this year after year with large enough credit lines that it makes it worth it.

 

Chase for some reason is very stingy with credit to me.

 

I guess part of the reason why Penfed and NFCU stand out to me is that I believe they tend to have a history of giving higher credit lines and offering 0% offers with low BT fees to existing customers.

 

Any chance there are more superstars like them out there?

Maybe I'm just pushing my luck..

 

Thanks

Link to post
Share on other sites

NFCU is known for doing 0% once a year. No fees, either. But are you eligible for membership?

 

I don't know much about PenFed. I closed my checking and I have an unused savings sitting there. They used to be on my list of "Cards to get" until they devalued their rewards card. They're also very finicky on approvals. I keep it open with hopes of a golden pre-approval box showing up one day.

Link to post
Share on other sites

NFCU is known for doing 0% once a year. No fees, either. But are you eligible for membership?

 

I don't know much about PenFed. I closed my checking and I have an unused savings sitting there. They used to be on my list of "Cards to get" until they devalued their rewards card. They're also very finicky on approvals. I keep it open with hopes of a golden pre-approval box showing up one day.

 

I am not directly eligible for membership for NFCU according to their website, but I have read on FW that sometimes there are other ways of qualifying that aren't published online, that can be available over the phone like contributing to a military group. It might be YMMV but figure its worth a try.

 

I was hoping there were some other credit unions that have a similar pattern that are easier to get into, but its starting to sound like there aren't.

 

I was not aware that Penfed is finicky with approvals. I wonder if I have a chance. I have a pretty good FICO (740ish) but have around 40 open credit cards and about a 6 year average age.

Link to post
Share on other sites

The only ones I know of that tend to offer $0 BT fee are NAVY and Chase Slate. The rest of the current 0% APR offers tend to have 3% BT fees. Penfed currently has an 18 month with 3% BT fee (with a max of $250) offer. The 3% BT fee is normal these days, most are not capped. Penfed is a conservative lender, they might turn you down for a card but you don't know unless you try.

Link to post
Share on other sites

The best deal is the Slate. 0%, no fee, and then when you are done with it you can move the CL over to another Chase card with rewards.

 

As far as Chase not giving high starting limits, my last card with them was the CSP, and they gave me a starting limit of $28.6k...prior to that was a United card and that started at $15k. When I got the Slate that started at $15k as well (which I then merged into my CSP to give me a $43.6k limit).

Edited by CTSoxFan
Link to post
Share on other sites

 

NFCU is known for doing 0% once a year. No fees, either. But are you eligible for membership?

 

I don't know much about PenFed. I closed my checking and I have an unused savings sitting there. They used to be on my list of "Cards to get" until they devalued their rewards card. They're also very finicky on approvals. I keep it open with hopes of a golden pre-approval box showing up one day.

 

I am not directly eligible for membership for NFCU according to their website, but I have read on FW that sometimes there are other ways of qualifying that aren't published online, that can be available over the phone like contributing to a military group. It might be YMMV but figure its worth a try.

 

I was hoping there were some other credit unions that have a similar pattern that are easier to get into, but its starting to sound like there aren't.

 

I was not aware that Penfed is finicky with approvals. I wonder if I have a chance. I have a pretty good FICO (740ish) but have around 40 open credit cards and about a 6 year average age.

 

 

I tried when I first opened my savings account... I was denied because I had sufficient available credit from other lenders. It's a YMMV thing.

Link to post
Share on other sites

The best deal is the Slate. 0%, no fee, and then when you are done with it you can move the CL over to another Chase card with rewards.

 

As far as Chase not giving high starting limits, my last card with them was the CSP, and they gave me a starting limit of $28.6k...prior to that was a United card and that started at $15k. When I got the Slate that started at $15k as well (which I then merged into my CSP to give me a $43.6k limit).

 

I wish this was the case with me. But they tend to give me <5k credit lines while other issuers will give me closer to 15k.

They also tend to require me to move credit over from an existing card as opposed to giving me new credit, and that would force me to close other cards I would rather not close.

 

The other thing is that chase tends to have some of the biggest signup bonus cards, and I would rather save my inquiries with them for getting a guaranteed ~500$ signup bonus with no risk, as opposed to likely getting a credit line less than 10k, and needing to take significant risk to earn the same $500 through investing.

 

I am more interested in issuers who will offer balance transfers to existing credit union members / card holders, that do not require a hard pull. Ones that give the highest credit lines and charge the smallest fees in proportion to the 0% amount are my top preference.

Link to post
Share on other sites
I am more interested in issuers who will offer balance transfers to existing credit union members / card holders, that do not require a hard pull. Ones that give the highest credit lines and charge the smallest fees in proportion to the 0% amount are my top preference.

 

 

 

I think that pretty much just leaves you with only NAVY at this point in time.

Link to post
Share on other sites

 

I am more interested in issuers who will offer balance transfers to existing credit union members / card holders, that do not require a hard pull. Ones that give the highest credit lines and charge the smallest fees in proportion to the 0% amount are my top preference.

 

 

 

I think that pretty much just leaves you with only NAVY at this point in time.

 

 

Sounds like it. Thanks everyone for your input. If anything interesting comes up please let me know!

Link to post
Share on other sites

 

NFCU is known for doing 0% once a year. No fees, either. But are you eligible for membership?

 

I don't know much about PenFed. I closed my checking and I have an unused savings sitting there. They used to be on my list of "Cards to get" until they devalued their rewards card. They're also very finicky on approvals. I keep it open with hopes of a golden pre-approval box showing up one day.

 

I am not directly eligible for membership for NFCU according to their website, but I have read on FW that sometimes there are other ways of qualifying that aren't published online, that can be available over the phone like contributing to a military group. It might be YMMV but figure its worth a try.

 

I was hoping there were some other credit unions that have a similar pattern that are easier to get into, but its starting to sound like there aren't.

 

I was not aware that Penfed is finicky with approvals. I wonder if I have a chance. I have a pretty good FICO (740ish) but have around 40 open credit cards and about a 6 year average age.

 

40 cards.. Do you have any room for socks? :rofl::rofl:

Link to post
Share on other sites

 

 

NFCU is known for doing 0% once a year. No fees, either. But are you eligible for membership?

 

I don't know much about PenFed. I closed my checking and I have an unused savings sitting there. They used to be on my list of "Cards to get" until they devalued their rewards card. They're also very finicky on approvals. I keep it open with hopes of a golden pre-approval box showing up one day.

 

I am not directly eligible for membership for NFCU according to their website, but I have read on FW that sometimes there are other ways of qualifying that aren't published online, that can be available over the phone like contributing to a military group. It might be YMMV but figure its worth a try.

 

I was hoping there were some other credit unions that have a similar pattern that are easier to get into, but its starting to sound like there aren't.

 

I was not aware that Penfed is finicky with approvals. I wonder if I have a chance. I have a pretty good FICO (740ish) but have around 40 open credit cards and about a 6 year average age.

 

40 cards.. Do you have any room for socks? :rofl::rofl:

 

 

At some point it's a credit card drawer in which you keep extra socks.

 

40 cards gives me a new goal for 2014. I'm only at 24. :D

Link to post
Share on other sites

At some point it's a credit card drawer in which you keep extra socks.

 

40 cards gives me a new goal for 2014. I'm only at 24. :D

 

 

Haha. Yea it is a pretty large amount. It's the result of signup bonus oriented AoRs that I have been doing for the last 2.5 years. Every 3 months I go for 5-6. Not recommending anyone else do this unless they are meticulously obsessed with monitoring their credit and searching for tricks to prevent it from getting destroyed.

Link to post
Share on other sites

 

At some point it's a credit card drawer in which you keep extra socks.

 

40 cards gives me a new goal for 2014. I'm only at 24. :D

 

 

Haha. Yea it is a pretty large amount. It's the result of signup bonus oriented AoRs that I have been doing for the last 2.5 years. Every 3 months I go for 5-6. Not recommending anyone else do this unless they are meticulously obsessed with monitoring their credit and searching for tricks to prevent it from getting destroyed.

 

 

Don't worry, I'm meticulously obsessed - and then some. :P

Link to post
Share on other sites

In the past year (hm time flies, maybe past 18 months is more accurate) I have gotten two offers for BTs with 0% APR and a 1% - yes 1% - BT fee.

 

The first was from Barclays and I had to write out one of their BT checks to use it.

 

The second came about kind of funny. I don't remember if it was Citi or Chase, but it was one of them - I had visited the BT offers section of the website but not taken any offers, and I got an (automated, I'm sure) e-mail from them the next day saying they noticed I had visited the BT area but not taken an offer and wanted me to take a brief survey to help them better understand why. I took it and in the last question the survey allowed me to type any other info into a text area so I said I was just comparing Citi, Chase, Barclays, and Discover to see who had the lowest BT fee for transfers. It was shortly thereafter that I got the offer from them for a BT with 1% fee.

 

I am almost certain it was Chase actually because I'm still paying off the last of a BT on my Marriott card now, whereas my Citi Hilton and Citi AA cards are both zeroed out right now. Not 100% sure though.

 

edit - all of the four I mentioned plus first national bank of omaha all send me 0% BT offers all the time though. Most of them have a standard 3% fee on the offers I get. YMMV

Edited by GonnaGetEm
Link to post
Share on other sites

That's pretty interesting. Actually I forgot to mention this before, but I got the same 1% offer from Barclays as you did. I have 4 cards with them and I got it in the mail for 3 cards all on the same day. That's what made me think that there was value to be had here. But sadly, I spent some time researching what investments I considered safe enough, and did not realize that the balance transfers had to CLEAR by a certain date. And I called up Barclays before to double check. They told me I should deposit it at least 10 days before the expiration to make sure it clears in time otherwise I would not get the reduced rate / fee. But now that ive done the research I want to maximize the amount of 0% APR, 0-1% BT offers I get per year without applying for new cards every year. I may play around with Chase's site now...

 

There may be some years where I would take 3%, but probably only if I saw the S&P down 50% from a previous peak and had very stable income in case of further drops.

Link to post
Share on other sites

The last post in this topic was posted 2235 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Similar Content

    • By Bazo15
      Hello All,
       
      As I do every January, I am currently tweaking my credit reports. I recently applied for a Discover Card and got turned down for High balance ratios. I have this Visa Card from my credit union where I have a $10,500 balance on a $12,000 balance. The interest rate is 14%. My FICO score is 680. Naturally, the obvious answer is pay down the balance dummy! However, can I pay it down with another credit card company where I can transfer the balance to and not be paying a high rate of interest? I am looking for somewhat of a sure thing (based on my FICO score) where I am not applying for multiple cards and piling up those inquiries.
    • By Aahz
      Was just in my local DCU branch and they had signage all over about this offer, though I have not yet received any direct messaging from them about it.
       
      https://www.dcu.org/whats-new/zero-percent-balance-transfer.html
       
       
    • By JonE
      Wanting to transfer my balance from Credit One to Chase Freedom (when it gets here and activated) and close out Credit One. They do offer 0% for 15 months on Balance transfers, but is it that easy to do?
       
       
    • By Sandwitch
      Howdy All,
       
      Does anyone have any experience transferring balances between cards owned by the same issuer?
       
      I was just approved for a Chase Sapphire Preferred. I do have a large purchase to make, so I should have no trouble meeting the 3K minimum spending limit to get the bonus. I don't really feel like shelling out 3K at the end of the statement cycle however, and had the idea that I might find a nice balance transfer card and pay it off at my leisure. This may qualify me as a money grubbing, penny pinching so-and-so, which would delight me to no end.
       
      Trouble is, the card that I want happens to be the Chase Slate due to the $0 balance transfer fee. Is that inappropriate? Poor credit etiquette? Frowned upon? Not allowed? Only the last one concerns me, and while the dear Indian ladies that answer my calls and usher me toward meeting their quota have been very obliging and mostly intelligible, I'm not sure that I want to broach that subject with them. I might be a paranoid weenie.
       
      This is my first post, so please forgive any faux pas. All of you have brought me great, analytical joy for the past few months, and a healthy dose of chuckles, so thanks for that!
       
      Best Regards,
      Sandwitch
    • By mendelssohn
      This thread is to track and predict NFCU and other balance transfer offers. Some of these offers are targeted, and some are open to everyone. They also seem to offer both 0% APR offers and low APR transfers at various times. If you do a balance transfer outside of any of these special offers, it is treated as a cash advance.
       
      As many have posted before, NFCU seems to do the general 0% balance transfer offers about twice year. Many of us are speculating that the next 0% offer will be at the end of August or early September. Please add your own data to this thread, and we can continue to update it and make future predictions.
       
      Please add data in this format:
       
      Date
      Source (email, website, etc.)
      APR (0% or other)
      Term (in months)
      Ending date (if known)
       
      Next predicted 0% BT offer: August 29, 2014



  • Member Statistics

    • Total Members
      180,661
    • Most Online
      2,046

    Newest Member
    TheNovelist7905
    Joined
×
×
  • Create New...

Important Information

Guidelines