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Chase Offer
Disclaimer
Greetings FW,

Apologies in advance for my simplistic question. Yesterday, I received a 0% Balance Transfer offer from Chase which I normally throw out due to the fees but this one caught my attention as it said "For this offer only: no transaction fees apply to transactions from this offer." I have also attached an image of this offer to this post.

I haven't seen a 0% BT offer on any of my 15 or so existing cards with NO fee for several years. Am I reading this correctly? Is this really an offer for a completely free balance transfer at 0% APR? I feel like I must be missing some type of trick to get me on this. 

Thank you.

Member Summary
Most Recent Posts
Depending on your 5/24 rule status, apply for a different card. The signup bonus may cover the BT fee which it may have.... (more)

JW10 (Aug. 22, 2016 @ 6:07p) |

Can you request a BT to a debit card? Would that be a good way to get BT money into a checking account? (store refunds t... (more)

olegos (Sep. 10, 2016 @ 1:32p) |

That is a FIRM NO. Debit cards are easy for the system to distinguish in the Visa system.

JW10 (Sep. 10, 2016 @ 7:46p) |

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11 months of free money. Enjoy.

I used to get offers like this from Capital One, but the last one was at least four years ago.

The only downside is that if you borrow more than 50% of your credit line, it will have a negative impact on your fico score. It really doesn't matter though, because you can just pay it off and the fico score recovers quickly.

Chase has been offering this on their Slate card for years now. 0% APR and no BT fee. I paid my balance off before the promotional time frame ended and there was no catch whatsoever.

liveoss said:   Chase has been offering this on their Slate card for years now. 0% APR and no BT fee. I paid my balance off before the promotional time frame ended and there was no catch whatsoever.
  I have a slate card.  Never got this kind of offer from Chase.

liveoss said:   Chase has been offering this on their Slate card for years now. 0% APR and no BT fee. I paid my balance off before the promotional time frame ended and there was no catch whatsoever.
  That's only for new cards though, not existing ones.

liveoss said:   Chase has been offering this on their Slate card for years now. 0% APR and no BT fee. I paid my balance off before the promotional time frame ended and there was no catch whatsoever.
  Are you referring to the initial promotional offer when you apply for the card? I have got that before too.

This is different in that it was an offer on an existing card that I have had for several years.

elfrozo said:   
liveoss said:   Chase has been offering this on their Slate card for years now. 0% APR and no BT fee. I paid my balance off before the promotional time frame ended and there was no catch whatsoever.
  Are you referring to the initial promotional offer when you apply for the card? I have got that before too.

This is different in that it was an offer on an existing card that I have had for several years.

  Which Chase card, exactly?

0% interest does not mean anything

They make money on the BT fee which is around 2-4%

bogalusa said:   
elfrozo said:   
liveoss said:   Chase has been offering this on their Slate card for years now. 0% APR and no BT fee. I paid my balance off before the promotional time frame ended and there was no catch whatsoever.
  Are you referring to the initial promotional offer when you apply for the card? I have got that before too.

This is different in that it was an offer on an existing card that I have had for several years.

  Which Chase card, exactly?

  
Chase Freedom.

fleetwoodmac said:   0% interest does not mean anything

They make money on the BT fee which is around 2-4%

  Someone took their troll pill this morning...

elfrozo said:   
bogalusa said:   
elfrozo said:   
liveoss said:   Chase has been offering this on their Slate card for years now. 0% APR and no BT fee. I paid my balance off before the promotional time frame ended and there was no catch whatsoever.
  Are you referring to the initial promotional offer when you apply for the card? I have got that before too.

This is different in that it was an offer on an existing card that I have had for several years.

  Which Chase card, exactly?

  
Chase Freedom.

  If you sign into your chase.com account, then go to balance transfers for that card, does the same offer show up online?

I just completed a 21 month 0% balance transfer from Chase, paying off a 12 month 0% BT from NFCU. Both were 0% transfer fees. The Chase offer came in the mail.

I hope this is a new trend for Chase! Both my chase cards have 0% for ~14 month offers online, but with a 2% fee. If I get a $0 fee offer I'll be taking advantage of that for sure.

renaud said:   I hope this is a new trend for Chase! Both my chase cards have 0% for ~14 month offers online, but with a 2% fee. If I get a $0 fee offer I'll be taking advantage of that for sure.
  The 2% fee isn't horrible. You could easily toss that into a brokerage account, collect some signup bonus with the brokerage, and make a few percent net for a year.

Lucky for you. The best I've gotten was the 2% fee.

jaytrader said:   
elfrozo said:   
bogalusa said:   
elfrozo said:   
liveoss said:   Chase has been offering this on their Slate card for years now. 0% APR and no BT fee. I paid my balance off before the promotional time frame ended and there was no catch whatsoever.
  Are you referring to the initial promotional offer when you apply for the card? I have got that before too.

This is different in that it was an offer on an existing card that I have had for several years.

  Which Chase card, exactly?

  
Chase Freedom.

  If you sign into your chase.com account, then go to balance transfers for that card, does the same offer show up online?

  Yes, it shows up and actually, an additional one shows up that I didn't get a mailer about:
   
Select an offer Select an offer* 
0% APR through billing cycle ending in 07/2017. Additional terms apply. No balance transfer fee. Respond by: 9/30/16.
0% APR through billing cycle ending in 06/2017. Additional terms apply. No balance transfer fee. Respond by: 8/31/16.



renaud said:   I hope this is a new trend for Chase! Both my chase cards have 0% for ~14 month offers online, but with a 2% fee. If I get a $0 fee offer I'll be taking advantage of that for sure.
  
By the way, DW got the same offer I did on her Chase Hyatt card.

Just checked, 3% BT fee for me on the Freedom card.

Lucky you.  I just logged in and checked - 2% BT fees on all five of my Chase cards.

dcwilbur said:   Lucky you.  I just logged in and checked - 2% BT fees on all five of my Chase cards.
  Same here...I got 5 cards and they are all either 2% or 3% fees.

But good news they exist again....maybe they'll roll them out in the future to us.   Will have to keep a closer eye out on those offers they keep sending in the mail like every month that go to shredder.

I have no BT offers on any of my nor my wife's accounts.

I got this on my Chase Freedom and Slate cards. Fine print says only up to $15000. I've really been trying to wean myself off the 0% money but this they just keep sending offers...

Happy days are here again!


doveroftke said:   Happy days are here again!


Yeah, I'm gonna consolidate all my Chase cards into a 60K mega credit line and balance transfer it all to my GMAC Bank 5% online savings account! Woohoo! Oh wait, wrong decade. Ah, this thread re-awakens old memories. Can't beleive it's been ten years


Chase Freedom
Disclaimer
The offer looks like something to take IF you have a valid use for the money. Make sure you do not spend the money on something foolish.
Understand that you will have to pay a minimum monthly payment or the max interest rate and penalty rate will nail you. Any existing charges or charges you make after accepting the offer will be charged interest from the second the offer is processed.
My procedure at Chase is to
a) totally pay off the current balance including any unbilled charges. Check on line for a zero account balance before proceeding.
b) wait a few days to insure no outstanding charges show up --- if some do, go back to a)
c) the newer offer is listed because you got a new monthly statement-
d) make sure to only accept the newer offer. I am not sure that I would ask for more than 98% of your credit limit.
Congrats on the zero BT rate. Not everybody gets that feature.

JW10 said:   The offer looks like something to take IF you have a valid use for the money...
My procedure at Chase is to...

jw10, interesting post. I think 10 years ago, such a post would be considered *something like* spoon-feeding. These days, maybe not so much.

JW10 said:   The offer looks like something to take IF you have a valid use for the money. Make sure you do not spend the money on something foolish.
Understand that you will have to pay a minimum monthly payment or the max interest rate and penalty rate will nail you. Any existing charges or charges you make after accepting the offer will be charged interest from the second the offer is processed.
My procedure at Chase is to
a) totally pay off the current balance including any unbilled charges. Check on line for a zero account balance before proceeding.
b) wait a few days to insure no outstanding charges show up --- if some do, go back to a)
c) the newer offer is listed because you got a new monthly statement-
d) make sure to only accept the newer offer. I am not sure that I would ask for more than 98% of your credit limit.
Congrats on the zero BT rate. Not everybody gets that feature.


Exactly my plan. I just got a flyer in the mail from Discover offering $100 to open a savings account for a minimum of $15,000 & .95 apr. Chase offer is for a maximum of $15,000 so it works out perfectly.

I don't have any debts or a mortgage so nothing better to put it towards. I'm not sure I can trust the market to do better than the discover deal considering that the S&P closed at an all time high today.

Are you saying 00.95% APR? * 15,000 = less than $150.00 + $100.00 signup bonus? Not worth it that way. You can App-o-rama a few banks and/or credit unions. Should pick up $500.00 to $1000.00 easy. Many only require accounts to be open less than six months. Some have no minimum balance during that time frame. Even those, I leave a decent deposit for a few weeks. Read the rules / T&C.  Since the money is from Chase, you may be wise to skip that as a bank deposit option.
http://www.doctorofcredit.com/best-bank-account-bonuses/ 

https://dannydealguru.com/category/bank-deals-2/

Look thru this thread once you have set up a few banks
https://www.fatwallet.com/forums/finance/682884/?start=2200 

YMMV

Informed Delivery Digest shows me a Chase envelope in the mail today. Crossing fingers.

I have received one offer like this in the past. Good deal if you need to pay higher rate balance or even monetize it.

Just remember that this is for Card to Card transfers only.
Most BTs with fees give you a check to pay off other bills, the Chase Slate will only payoff another Credit card. (Because the only thing you can do is put in a credit card number online)

Edit : I got a bad offer then, mine won't do what OP's does.

forbin4040 said:   Just remember that this is for Card to Card transfers only.
Most BTs with fees give you a check to pay off other bills, the Chase Slate will only payoff another Credit card. (Because the only thing you can do is put in a credit card number online)

  That's not what the offer said.

forbin4040 said:   Just remember that this is for Card to Card transfers only.
Most BTs with fees give you a check to pay off other bills, the Chase Slate will only payoff another Credit card. (Because the only thing you can do is put in a credit card number online)

  Nope.  If you look at the image in the OP, it's clearly for BT checks.  You can make them out however you want.

Damn , then I've been ripped! My Chase Slate will only go to other cards.

I overpaid Citi last year (with a Chase BT offer, extra ~8k) and got a refund. The balance was ~$8k at the time, though, so I only did the transfer for ~double the balance due.
2%'s the best I've seen too. Luckily on Chase Bus cards though so I could use 100% of CL without affecting my FICO at all.

I did screw up and messed up on overpaying (to pay off new purchases) on the card with the balance transfer.  You have to be careful if you need a purchase on it and want to pay it off.  I had one large purchase and one recurring charge on it (Ink 5%).  If you want to pay least amount of interest on the new purchase, you have to wait until the statement after the purchase cuts and then pay minimum payment + purchase amount to clear it.  If you pay it after the purchase but before the statement cuts, they'll take it off of the 0% balance instead.  I had made a ~$1000 purchase on it, then paid $1050 two days after the charge finished posting, and figured that would cover it.... 3 months later I'm down ~$50 in interest, plus I lost that ~$1000 of the BT that I paid 2% for.  Should be done with fixing it after closing on refi in a couple weeks though.

I also solved the recurring TV/Internet bill by changing statement due date to make the statement close 2 days after the charge comes in (some margin of error for the autobilling included there), and then I can pay it a day later so I will only pay 3 days ~15% interest each month in exchange for the 5UR/$.

No 0% BT offers for me in the last several years with one exception - USAA Visa back in April of 2016.  The offer was 0% for 15 months and sent to my email.

What will you do with the money? A few years back, you could make money off the float and take no risk at all. Those were the good old days!
Now, your only option to make money is to invest in something risky (stock market, real estate etc), which means taking the risk of not being able to pay it back if your investment drops in value within the next year. Then you get hit with huge fees and interest.
A 0% offer is not nearly as attractive as it used to be.

Scroll up to my last post. Putting the money in a few different FDIC insured banks removes the risk and outperforms working the float. In many of those cases, you can do both if you choose a bank with no minimum balance after the account is open.  The last link goes to a FW thread showing possible funds placement options better than the Discover option the OP was planning on using.
I agree the stock market is too risky for this scenario.

Argyll said:   There are many 0% no fee BT offers. Check the Balance Transfer thread.
  Those are introductory offers, and mostly in lieu of $500+ other card opening bonuses available for opening other cards ($1500+? if you count the new chase sapphire)

Skipping 31 Messages...
That is a FIRM NO. Debit cards are easy for the system to distinguish in the Visa system.



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