Russian, $50 per ... ?

My (wife's) Discover CC arrived today, 10 days after telephoning in a solicitation. Credit Limit is 10K -- we'll try to increase it today.
$29 BT fee, 0% APR for life if 2 purchases/month ($1 minimum, I think). 2% of balance monthly payment.

Anyone know what the URL is to apply for the Chase card with 0% BT for life? I tried calling in and was told that without the reservation code, they would not provide me the offer...

Had an unused discover card. recently called them and got a 0% BT for the entire
credit limit (10K).
no fees
0% till feb '04
0% continues as long as I make one purchase/month.

regards,
xml

watssion said:

<< I called DiscoverCard, CSR told me I could get 0% BT until April 04,
with BT fee 3%. Anyone get no fee + 0%? >>

talked to a csr last night to transfer a visa balance over.

i asked if she could waive the 3% transaction fee and she said it was no problem.

0% apr balance transfer with no fees theoretically for life as long as i make two purchases (packs of gum will do fine, she mentioned) every month after Feb, 04.

just noticed that it's now mentioning there are no transaction fees invovled in my account center at discover.com, just wondering if anyone else is seeing that?

how difficult is it to obtain this card? although i 'think' i have good credit, my credit rating is still young, maybe 8yrs. should i bother with this, esp. since i just received the offer in the mail. no use hurting my score with a card i can't get when i'm looking for a card.

as a side note, here is what i think gives me good credit:
oldest account is about 8yrs [checking]
next oldest about 6yrs [capital one credit card]
multiple lines of credit
-5k student loans
-store credit card
-multiple utilities
-rent(?)
-paid off card loan 1yr ago
negatives:
applied for a card a month ago
$2k on a card which im looking to BT

on second thought this may be a no go. is this easier to obtain than a citibank plat? have one of those
2 late payments at the same time last month> 1 cc, 1 utility

I got a Discover Card 2 months ago through creditgift.com, and received a free DVD player yesterday by getting the Discover Card through creditgift.com. (Value of DVD player is $40, it's not real fancy, but it plays everything that I throw at it.)

Yesterday, I called Discover Card to cancel the card. They said that if I kept the card, they'd give me 0% interest through December 2004 if I did a balance transfer, with no transfer fees. The 0% will be extended if I make a purchase every month after December 2004 with the card. The CSR read and showed me the agreement in writing on their web site when I questioned whether there were really no fees and no interest. The balance transfer had to be done within 30 days.

Since I don't have any balances to transfer from other cards, I jokingly said "sure, pay off my mortgage." He said, "we can do that, up to your credit limit". Of course, I took him up on it. All he needed was my mortgage account number and lender address.

So, Discover Card paid off a chunk of my mortgage, saving me 6% interest per year. I have to make the minimum payment each month, which is 2% of the balance.

Yearly savings will be $450 in mortgage interest.

And yes, anyone who does this has to be sure to follow all the payment and purchase rules carefully. Also, be sure to tell Discover Card to include a line on the check that says "Principal Prepayment" so that the funds will be credited as a principal prepayment, not to your escrow account, etc.

This is probably a n00b post, but I'm not sure of the precise details of this if you went thru 2011. Payments go to the lowest % APR portion of the bill, in this case 0%. The finance charges make your non-0% balance grow, resulting in larger finance charges, right? Say you BT alot (not relevant in the calculations), and you make 2 $1 purchases/mo. your $2/month non-0% balance would grow like this, wouldn't it?:: (min finance charge of $0.50)
$2
$2 + $2.00 + 1 month Finance Charges on $2.00 (0.50) = $4.50
$2 + $4.50 + 1 month Finance Charges on $4.50 (0.50) = $7.00
$2 + $7.00 + 1 month Finance Charges on $7.00 (0.50) = $9.50

is this correct? If I do this in excel with an APR of 9.99%, your non-0% balance at the end of 3 years (36 mo) is $90.80, and your finance charge was $0.73. Is this the correct math?
total finance charges for that period come to $20.96

so its profitable because you make way more than you spent on the interest on the BT, right?

thanks

I know there is no interest on the 0% APR portion (AKA the amt you BT). what I meant was that if you BT $10,000 from a CC that has no balance and request a check, then you can be making interest on the $10k while Discovercard is giving you 0%APR on it. So the interest you make on this $10k in the bank is more than the $20 in Finance charges that you have to pay in order to keep the 0%APR on the BT.

I was just asking if finance charges generate finance charges (count as purchase amts and are finance charged at the purchase rate of say 13.99% or 9.99%). Otherwise, if finance charges are fees that you pay with your min payment, the amt of the balance that you carry that is subject to non-0% APR does not grow as quickly and this deal is WAY better

SpeedDragon said:

<< I thought about doing the same thing to car loans and mortgages. However, unless you can use the CC to payoff the loan, you will be making two payments per month. If you have that extra cash anyway, apply it to the principle. >>

By using the CC to payoff the loan, I got an extra year of use of my own money for investment. Invested in risk free US Savings Bonds, that's worth about 2%.