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phyregold

Are there any 0% Interest APR/Balance Transfer cards?

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My chase slate credit card 0%apr and 0interest for 18 months is about up and I want to transfer this remaining balance on a new card before I pay interest.

 

 

Does anybody know of a 0/0% card? Or maybe a 0/3% card is there are none?

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My chase slate credit card 0%apr and 0interest for 18 months is about up and I want to transfer this remaining balance on a new card before I pay interest.

 

 

Does anybody know of a 0/0% card? Or maybe a 0/3% card is there are none?

 

There's plenty of BT offers. Big banks, small banks and CU's.

 

More importantly, do you have a budget/plan in place to end the shell game?

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0% interest for a period of time seems common and easy to achieve.

 

It is the BT fee of 3% to 4% that I hate.

 

Anyone doing a 0% with $0 on the BT fee?

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My chase slate credit card 0%apr and 0interest for 18 months is about up and I want to transfer this remaining balance on a new card before I pay interest.

 

 

Does anybody know of a 0/0% card? Or maybe a 0/3% card is there are none?

 

There's plenty of BT offers. Big banks, small banks and CU's.

 

More importantly, do you have a budget/plan in place to end the shell game?

 

Oh yeah, i'm not worried about it, it's only 1500$, i just don't like dropping my saving account below a certain mark so I want to transfer it

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My chase slate credit card 0%apr and 0interest for 18 months is about up and I want to transfer this remaining balance on a new card before I pay interest.

 

 

Does anybody know of a 0/0% card? Or maybe a 0/3% card is there are none?

 

There's plenty of BT offers. Big banks, small banks and CU's.

 

More importantly, do you have a budget/plan in place to end the shell game?

Oh yeah, i'm not worried about it, it's only 1500$, i just don't like dropping my saving account below a certain mark so I want to transfer it

$1500

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Why not just work overtime or a second job and put this behind you?

 

Racking up INQ's, new accounts, damaging AAOA etc for no rewards or long term gain over a sum of $1500 seems shortsighted.

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Racking up INQ's, new accounts, damaging AAOA etc for no rewards or long term gain over a sum of $1500 seems shortsighted.

This^^^

 

No one asked, so I will. Do you have other CCs with any BT offers? This may sound obvious, but some people forget to check.

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$1500? Why are you even bothering? Just knuckle down and pay it. If you were say able to pay it in 3 months, then a 3 percent BT fee translates to an interest rate of 18 percent.

So, you might as well leave it where it is rather than getting another card.

 

Even if it took you six months, the interest is about 80 bucks. Which is just 35 bucks more than a 3% BT fee would be. A small price to pay for not having the extra inquiry (or even more than one if you get rejected), not reducing AAOA, etc

 

Balance Transfers don't repay debt. They just move it. Don't fall into their shell game trap.

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Understand the concept of wanting to not drop below a certain amount of savings, but it would be silly to keep money in a bank at best case 1% and pay 3% BT fee. Just paying it is your best play.

 

To your original question, I think the slate is the only 0/0 card out there now. My Barclays card give me a 0/1% every now and again, but not sure if that is available for new cards. Most everyone is 0/3 to 0/5%

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Understand the concept of wanting to not drop below a certain amount of savings, but it would be silly to keep money in a bank at best case 1% and pay 3% BT fee. Just paying it is your best play.

 

To your original question, I think the slate is the only 0/0 card out there now. My Barclays card give me a 0/1% every now and again, but not sure if that is available for new cards. Most everyone is 0/3 to 0/5%

 

The math doesn't suggest that it's silly.

 

1500 * .03 (balancer transfer fee) = $45

 

$45 if I wanted to pay it off in 6 months of interest is...?

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Understand the concept of wanting to not drop below a certain amount of savings, but it would be silly to keep money in a bank at best case 1% and pay 3% BT fee. Just paying it is your best play.

 

To your original question, I think the slate is the only 0/0 card out there now. My Barclays card give me a 0/1% every now and again, but not sure if that is available for new cards. Most everyone is 0/3 to 0/5%

 

The math doesn't suggest that it's silly.

 

1500 * .03 (balancer transfer fee) = $45

 

$45 if I wanted to pay it off in 6 months of interest is...?

 

If your interest rate is 18 percent, and you amortized in a straight line, the interest is $80. Just $35 more. No extra inquiries, no reduction in AAOA, not to mention the fact that you would actually be paying it off. Seeing as you did not pay it off tn the 15 months that you had already with Slate.......

Worth the extra $35. Time is money too. I would not mess with BT's to save only $35.

 

ETA, if you DID BT and paid it off over 6 months, that $45 is equivalent to 12% interest

Edited by Fragman

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CTSOXFAN was suggesting pulling money out of savings that's only earning 1%. Put the money back in at the same rate you were going to pay the card and you save money without the needless credit stuff.

Edited by Konrad2012

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CTSOXFAN was suggesting pulling money out of savings that's only earning 1%. Put the money back in at the same rate you were going to pay the card and you save money without the needless credit stuff.

Exactly. If it isn't your whole emergency fund you'd be liquidating it doesn't make sense to get a new account for that reason alone. That is short term thinking, which generally leads to a suboptimal outcome.

 

Now say for instance you don't have a 2% cash back card and would make use of that, then maybe you go for the Citi DC, do your BT, pay the $45, and AFTER that is paid off, have a 2% cash back card to earn rewards on.

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