Any 0% balance transfer options longer than 12 months

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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fffresh
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Any 0% balance transfer options longer than 12 months

Postby fffresh » Sat Apr 26, 2008 9:17 pm

As another user pointed out on here the 0% balance transfer options are hard to come by so this is probably slim to none but do any of you know if there's any cards out there that have a balance transfer for longer than 12 months. Maybe like 18 months or something? The reason I say this is because not even a 0% balance transfer is 0%. You always pay that balance transfer fee which s 4% so you're still paying. That's why it gets too expensive shuffling money too often for the shorter low APR balance trasnfer cards because then you end up paying that 4% twice in a year.


AnthonyBarone
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Postby AnthonyBarone » Wed Jun 25, 2008 6:54 pm

Did you see this one they had posted on here:

http://creditcardforum.com/finance-charges-apr-compare/338-best-balance-transfer-offer-market.html

That one is 0% for 15 months. Hell my next pickup I'm tempted to finance with credit cards and just switch the balances over every 15 months. Since I buy used I can't get any good interest rates on my auto loans and they're not too expensive so this could work next time around for me.

JEFF COGA
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Postby JEFF COGA » Tue Aug 19, 2008 12:49 am

Please make sure to read the fine prints!!! Some banks are getting very very sneaky to make any profits because consumer/card holder are "rate surfing" (if the bank internally tags you as a "rate surfer") - someone who is just using 0% and paying it off ASAP you will not get those promo offers.... NOW, does that mean 0% will not be given to you? NOT TRUE!!! These reps when you contact the bank will have multiple offers that you are not aware of - ALSO, if you not satisfied on the rate, you can speak to a manager and they will have rates EVEN LOWER!!! The credit card industry is nothing but smokes and mirrors... I'm glad I left the business and all the consumers be ready for the Bill of Rights on Credit Cards =)
Jeff Coga
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Mogul of Pineapples
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Postby Mogul of Pineapples » Wed Aug 20, 2008 2:23 pm

Jeff what would you say the max is you can negotiate on average for the term of the promo rate. For example, is 12 or 15 months possible when they're only offering 6 or 9 months?

Which financial institutions would you say are the most flexible with negotiating... and the least?
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JEFF COGA
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Postby JEFF COGA » Wed Aug 20, 2008 11:48 pm

Mogul of Pineapples wrote:Jeff what would you say the max is you can negotiate on average for the term of the promo rate. For example, is 12 or 15 months possible when they're only offering 6 or 9 months?

Which financial institutions would you say are the most flexible with negotiating... and the least?


I've called the bank on behalf of my friends and lowered % for BT/contractual rates left and right. I wouldn't have the specific details on "who" is most flexible but I can tell you this... when you ask for a rate, the rep can see a chart of ALL the interest rates they can give you

Here is an example:
5.99 - 12/01/9999 (life of loan)
5.99 - 6 months
5.99 - 9 months
5.99 - 12 months
5.99 - 15 months
4.99 - 12/01/9999 (life of loan)
4.99 - 6 months
4.99 - 9 months
4.99 - 12 months
4.99 - 15 months
3.99 - 12/01/9999 (life of loan)
3.99 - 6 months
3.99 - 9 months
3.99 - 12 months
3.99 - 15 months
2.99 - 12/01/9999 (life of loan)
2.99 - 6 months
2.99 - 9 months
2.99 - 12 months
2.99 - 15 months
1.99 - 12/01/9999 (life of loan)
1.99 - 6 months
1.99 - 9 months
1.99 - 12 months
1.99 - 15 months
0.99 - 6 months
0.99 - 9 months
0.99 - 12 months
0.99 - 15 months
0.00 - 12/01/9999 (life of loan)
0.00 - 6 months
0.00 - 9 months (**promo letter**)
0.00 - 12 months
0.00 - 15 months
----------------------------

This is really simplified but I want you to see what the rep sees... and the options they have... you might think oh 0% for 9 months is good but 1.99 for life is better.... if you didnt ask you would have never known, since reps are not allowed to say "hey you have a such and such rate"
When you ask for rates and they put you on hold... they are scrolling to see what rate you previously took out, for how many months, at what rate, when you paid it off and etc etc...

sorry I had a long day... very tired... personal message me with any questions...
Jeff Coga
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http://www.SoCalBargainProperties.com

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indianamom
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Postby indianamom » Sat Oct 18, 2008 11:07 pm

How does one go about getting the 0% for the life of the loan? I've never heard of that but that would really help me right now.

I can barely make my minimum payments. :(

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Postby Gumball » Fri Nov 28, 2008 10:35 am

I just got a 0% credit card from Virgin- 16 months 0% on balance transfers (seems like a really strange number of months to pick!) and 6 months 0% on purchases.



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