- Centurion Member
- Posts: 875
- Joined: Thu Apr 30, 2009 2:32 pm
- Location: Texas
that you would still be getting the promotional rate. Your payments would first be applied to the balance at the higher rate, which presumably is higher than your promotional rate.
Where this potentially hurts you is if you fail to pay off your "old" balance at the non-promotional rate in time to start making payments that apply to your promotional rate balance so as to pay it off before the promotional rate expires. This could be a significant issue if that promotional rate balloons to something outrageous at the end of the promo period.
I used to be a big time card surfer back when it was fun. If I were you I'd snag the best rate you can get for as much of your debt as you can for at least 6 months and ideally 12 (anything less than 6 is a waste of time and money).
Several months prior to the expiration of the deal, start sniffing around for something better. I'm starting to get all kinds of 0% balance transfer checks and other crap in my mail again, and I've repeatedly asked the CC companies to take me off their promo lists.
For people with good credit scores the deals will be coming back, I think. I'm not carrying CC debt and don't plan to again. But for those who do, it pays to read the fine print and work all the angles. Hold up your end of the bargain to a T and there really isn't anything bad that will happen to you as long as you're squeaky clean and completely informed about the rules and assertive about your rights.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).
*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.