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  #16  
Old 01-27-2008, 03:55 PM
C-squared C-squared is offline
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Location: Cleveland, Ohio USA
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Default Re: 0 interest credit card

I got my Citi Visa years ago through a promotion for 12 months 0% interest. It was wonderful because I had just paid off all my debt, cancelled my other credit cards, and I was looking for something to help me start rebuilding. I got this card, used it monthly and paid it off in full - so I guess the 0% didn't really matter.

But if you're looking to transfer debt to pay off quicker, I'm assuming this would be a great deal because then you're not paying interest like you would be normally.
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  #17  
Old 02-10-2008, 01:59 AM
Boucher Boucher is offline
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Default Re: 0 interest credit card

Good info in this post. I have been transferring a balance for a couple of years now and basically follow these guidelines:
1) Make sure the 0% period is for at least a year;
2) No transaction fee + no purchase using card required;
3) Cancel old account -- I do keep one account w/ no balance -- been having it since college;
4) Don't make any stupid purchases on credit like I did;

So far, this process has worked fine & my credit rating has not suffered.
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  #18  
Old 05-26-2008, 04:36 AM
sahilmiddha sahilmiddha is offline
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Default Re: 0 interest credit card

sorry, i have no experince.
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  #19  
Old 05-26-2008, 02:42 PM
spencer24 spencer24 is offline
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Default Re: 0 interest credit card

The 0% interest rate is usually for just a few short months, and after that you'll get an interest rate around the average credit card interest rate, which is quite high. You should consider if it's worth the hassle of transferring the funds, potentially paying transfer fees, etc.
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  #20  
Old 06-07-2008, 12:28 AM
Newbie Newbie is offline
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Default Re: 0 interest credit card

My experience was worth it. Around the time of the initial post on this thread, I got a Discover Card offer of 0% interest on a balance transfer FOR LIFE. Woohoo! They gave me a credit limit of $15,000 so I transfered the majority of our HELOC to it. The catch was that beginning July 2007, I had to make at least three purchases a month on the card to keep the 0% on my balance transfer and any payments obviously went towards paying down the transfer and the charges created interest owed. However, my husband and I charged only three times a month on the card and usually $2 or less each. Our finance charges were miniscule on a 10-15,000 balance transfer. We got serious this year and paid the card off so we don't have to worry about the three charges a month anymore, but it worked out great. We saved hundreds of dollars for two years.
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  #21  
Old 06-09-2008, 01:09 PM
spencer24 spencer24 is offline
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Default Re: 0 interest credit card

Quote:
Originally Posted by Newbie View Post
My experience was worth it. Around the time of the initial post on this thread, I got a Discover Card offer of 0% interest on a balance transfer FOR LIFE. Woohoo! They gave me a credit limit of $15,000 so I transfered the majority of our HELOC to it. The catch was that beginning July 2007, I had to make at least three purchases a month on the card to keep the 0% on my balance transfer and any payments obviously went towards paying down the transfer and the charges created interest owed. However, my husband and I charged only three times a month on the card and usually $2 or less each. Our finance charges were miniscule on a 10-15,000 balance transfer. We got serious this year and paid the card off so we don't have to worry about the three charges a month anymore, but it worked out great. We saved hundreds of dollars for two years.

Yes, there is always a catch. Good to hear that you were able to save money using the credit card
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  #22  
Old 06-10-2008, 11:43 AM
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bba060503 bba060503 is offline
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Default Re: 0 interest credit card

I have not experienced of credit card. But i have worked with citi bank credit card department. My experience tells me that there is no credit card with 0 interest. It is not more than a fraud.
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  #23  
Old 07-11-2008, 12:02 PM
rachael24 rachael24 is offline
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Default Re: 0 interest credit card

Quote:
Originally Posted by bba060503 View Post
I have not experienced of credit card. But i have worked with citi bank credit card department. My experience tells me that there is no credit card with 0 interest. It is not more than a fraud.


I have seen numerous cards with a 0 interest, but it is for only a certain period of time. What time frame have they given you?
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