Best 0% Issuers (either purchases or BT)

[robdude10]

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!

[moosetracks]

First National Bank of Omaha sends me offers all the time for 0% at fixed # of months with a 3% BT fee. I have their AMEX & Discover branded cards and the offers come for both of them.

[robdude10]

Thanks.

 

Anyone know of others? Especially ones with 1% or lower BT Fees?

[Fuerza]

Thanks.

 

Anyone know of others? Especially ones with 1% or lower BT Fees?

 

Chase Slate. Zero BT fees for the first 60 Days the account is opened. 0%APR on BT's and purchases for the first 15 months.

 

https://creditcards.chase.com/credit-cards/slate.aspx?iCELL=63KH&inkcashsplit=1&inkplussplit=2&sapphireprefsplit=1&slatesplit=1

[shifter]

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 December 10, 2013 by shifter

[spikedup]

Citi Diamond preferred:

 

Enjoy 0% Intro APR on balance transfers and purchases for 18 months.

[Matti]

Citi Diamond preferred:

 

Enjoy 0% Intro APR on balance transfers and purchases for 18 months.

 

Balance Transfer

Either $5 or 3% of the amount of each transfer, whichever is greater

[Matti]

If you're looking for 0% and no fees, Slate is the way go.

[robdude10]

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

[Matti]

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.

[cv91915]

Most issuers don't do this because they're afraid that people will make speculative investments and not pay -

 

Never mind.

[robdude10]

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.

[Tyra]

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.

[CTSoxFan]

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 December 11, 2013 by CTSoxFan

[Matti]

 

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.

[robdude10]

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.

[Tyra]

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.

[robdude10]

 

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!

[CTSoxFan]

Yea, either wait for the Navy promo to come up again (it usually comes around in Feb), or go for Penfed's promo right now (18 mos 0% 3% fee $250 cap)...Penfed might actually be better depending on the circumstances.

[funkiehouse]

 

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?

[cv91915]

 

 

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?

 

 

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.

[robdude10]

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.

 

 

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.

[cv91915]

 

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.

 

 

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.

[GonnaGetEm]

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 December 12, 2013 by GonnaGetEm

[robdude10]

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.