I see more and more of these, and am interested in using the collective wisdom and experience of this forum to scope out the best ones.
I propose we categorize the offers we find according to the following criteria:
-Interest Rate -length of promotion -offers that allow transfers into bank or brokerage accounts (versus only other CCs) -NEW card offers only vs. offers for EXISTING cardholders (EDIT: changed to new only on this thread)
While I was grading here at home just moments ago, I got cold-called by an articulate woman from Discovercard. I have a $15,000 line on a Discover Platinum card, and she offered me 3.9% through May, saying that it was an "ongoing offer through March, but I'm authorized to do it through May if you'd like to say yes now." (Not pushy in tone, just descriptive--better than many in my experience. So,
Discovercard Platinum: 3.9% through May, transfer to any account, current cardholders.
Please add your best offers according to the above, and suggestions about how such a list should be adjusted so as to be most beneficial for all of us. Thanks!
UPDATED apply here Citibank Platinum Select Dividend 0.00% BT for 12 months (and no fees.) Thanks MarkM
This is a super deal, and Citi will let you move part of another credit card line you have with them to this line once it's open, making it an even better deal!
EDIT 07/16/04 I'm amending this thread to focus on only NEW card balance transfer deals, since (a) the vast majority of the offers described in this thread fall under that category, and (b) with rates now rising, the great current cardholder balance transfer options are becoming more scarce. Apologies in advance for any confusion this may cause! If members object, please let me know.
They were interesting, but weren't in a format that allowed much apples to apples comparison. Perhaps I'm the only one that sees a need for something more formatted?
In any case, I'd welcome updates, and will post anything tasty I come accross.
Edit: A new Chase offer just arrived in the mail: 12 months 0%, lesser of 3% or $45 transaction fee. Credit limit "up to" $100K, LOL. If I would get offered anything close to that, I'd do it, but I'd be surprised if it would be more than 10-20K...I'll pass and wait for more assurances or a no transaction fee deal.
Several weeks ago, I received a cold call from MBNA Bank offer me a First Union credit card (MBNA bought FTU CC portfolio) interest rate: 0% lenght: 9 months free transaction fee if I do it over the phone right then I had them direct deposited the money into my checking account. This was a new card, although I used to have a CoreState CC (which was bought out by First Union)
Since I already have a CC with MBNA for several years, they offered me a Platinum+ Card, the CSR said she could only transfer up to 7K to my bank. I accepted.
Several days later she called back and asked since I already have 2 MBNA CC. Could she reduce the credit line of one of the existence card to increase the credit line for this new First Union CC. I said OK and ask what would the credit line be (for this new card). she said 16K. I asked if she could deposit 15K (no fee) into my bank instead of 7K. she said "OK".
I used the money to pay off the balance on my AT&T Universal Card (also 0% for 9 months, which will ended i 1/1/02.)
The problem with the 0% is that one has to apply for a new CC. The best rate I have for current CC is 1.7%, 6 months, fee is 29 or 39, also from MBNA.
One word of advice: if you want to apply for other credit between now and the end of the year, you might not want to use such a high percentage of that new line. I learned this the hard way using $19K out of $20K on a new blue line a couple of years back, and that alone it sent my credit score from the 700s into the 500s. Stupid, but there's nothing one can do until credit reporting agencies are forced to be more accountable for their methodology.
I also regularly received "blank checks" from First USA (I have several CC with them). Their offers usually are 2.9% for 3 months (not enough time to flip) 4.9% or 5.9% for 6 months 9.9% until you pay-off the balance all of the above involve transaction fee max at $50.
Received 3 more Chase offers identical to the one posted above--time to give this thread a little bump and see what the rest of you have found lately...
A great new offer from citibank, in the Sunday paper advertising circular:
Citi Dividend card, 0% until Dec 1, 2002 on all balance transfers, with no balance transfer fee.
Also gives 1% back on purchases, payable in $100 amounts, max of $300 a year. Of course you wouldn't want to begin using it for purchases until your balance transfer expires (since purchases are at 10.99%), but that's a nice thing to use it for once they are done.
i did it in jan. from discover, regular card, 2k limit, perfect record, 0% through june, wish i had higher credit line no finance fee or any other sort of fees. just 0% for any purchases.
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