Help with my first after introductory rate

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
4 posts
Shaun1
 
Posts: 1
Joined: Thu May 16, 2013 7:21 pm
Location: Ca

Help with my first after introductory rate

Postby Shaun1 » Thu May 16, 2013 7:25 pm

So I have a balance of 3 grand on my citi simplicity card which offered zero percent for 12 months and it ends at the end of the month. It has a rate of 18.9 but I'm not positive if I accrue retro active interest for the last 12 months.

Should I transfer it to my capital one venture? It has a 20.9 apr but it would be better than the hit I get at coming out of the introductory rate, yes?


MemberSince99
Centurion Member
Centurion Member
 
Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Mon May 20, 2013 8:14 pm

I would find out if you accrue retro interest. If so yeah a balance transfer could be a good idea. If not, no need to do anything.

jrv
Platinum Member
Platinum Member
 
Posts: 72
Joined: Thu Dec 20, 2012 1:42 am
Location: NJ

Postby jrv » Mon May 20, 2013 8:58 pm

Shaun1 wrote:So I have a balance of 3 grand on my citi simplicity card which offered zero percent for 12 months and it ends at the end of the month. It has a rate of 18.9 but I'm not positive if I accrue retro active interest for the last 12 months.

Should I transfer it to my capital one venture? It has a 20.9 apr but it would be better than the hit I get at coming out of the introductory rate, yes?


I have the same card & I can tell you from past experience that it does not accrue retroactive interest.
Main:
AMEX Platinum NPSL, Member Since 92
AMEX Blue 15K
PenFed 11K
PNC Visa 20K
First National Bank Omaha Platinum Visa 25K
Citi Simplicity 11K
Drawer:
50K Total

Scoobynoodles
Platinum Member
Platinum Member
 
Posts: 53
Joined: Sat Jan 19, 2013 9:06 pm
Location: NYC

Postby Scoobynoodles » Fri Jun 07, 2013 3:04 am

Safe bet is to call the bank and confirm over the phone, and maybe even in writing, whether it is retroactive interest or if it accrues at the end of the promo rate. I got burned once by a retroactive interest, mostly b/c I lost track of when it was expiring. Never will that happen again!
AmEx Platinum 2009 & Blue Cash $3.5K Delta Gold $2K
BofA BankAmericard $6K | Chase[/i] Sapphire Preferred $10K & Amazon $1.5K Freedom $2.2K | CACU Platinum $13K
Discover Cashback $8.5K & It $6K | Citi Simplicity $5.6K & TY $4.3K



Return to “Finance Charges & APR Compare”

Who is online

Users browsing this forum: No registered users and 0 guests