Best reward and balance transfer

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outlawstar4914
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Best reward and balance transfer

Postby outlawstar4914 » Fri Aug 29, 2014 9:42 am

I'm looking for a new card that I can transfer a 2500 balance to. Then pay it off in four to six months. Then use it for its reward system.

I currently have a chase freedom and csp

I was thinking amex blue. Any suggestions?


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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 29, 2014 12:14 pm

Well, this would depend on what your credit qualifies you for, but I'd suggest first Discover and then BofA Cash Rewards. Freedom would be an option if you didn't have the existing debt in Chase accounts.

Amex Blue doesn't offer 0% on balance transfers - just on purchases for 6 months. Your BT APR would be between 15.24% and 20.24%. Bad idea.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

outlawstar4914
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Postby outlawstar4914 » Fri Aug 29, 2014 1:09 pm

I thought discover.

I read blue had an intro balance rate of 0% for 15 months

outlawstar4914
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Postby outlawstar4914 » Fri Aug 29, 2014 1:22 pm

"A credit card that gives you cash back with a 0% Intro APR Offer on purchases and balance transfers for 15 months.
After that, your APR will be a variable rate, currently 12.99%-21.99% based on your creditworthiness and other factors."

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 29, 2014 1:46 pm

Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

outlawstar4914
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Postby outlawstar4914 » Fri Aug 29, 2014 2:13 pm

Hmm.

then maybe discover. how are they are they as widely accepted as visa?

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 29, 2014 6:45 pm

Most places take Discover. I think about 90% of merchants do.

I wasn't able to use one to pay for my gym membership - that's the only time lately I haven't been able to use it. The gym took V and MC only.

Definitely also have a Visa or MC. Your Freedom and/or CSP would be good to keep.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Ikarus
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Postby Ikarus » Fri Aug 29, 2014 11:07 pm

IIRC, AMEX Blue Cash Everyday had an intro of:

0% purchases for 18 months

0% balance transfers for 15 months

I'm still riding a balance transfer with no interest that lasts through Jan 2015.

A few months ago, I applied for a CLI after 61 days. They denied it immediately b/c they said I didn't pay off my balances fast enough. Some catch-22, I suppose. But I'm about to pay off the balance in my efforts to seek CLI's from all of my credit cards in time for the holidays. Just gardening at this point. No need for new cards. Just want CLI's and the ability to drop my old Hooters/Merrick card that offers nothing but a FAKO score and a $3/mo fee.

AMEX has gotten over $1500 in swipes for me to get my cashback bonus after the first 3 months, but not much after that, despite the deals they sometimes throw at me.

I love the card and the customer service, but use other cards in efforts to get higher CLI's.


outlawstar4914 wrote:I thought discover.

I read blue had an intro balance rate of 0% for 15 months
Merrick Bank (Hooters) 4100
Cap One Quicksilver 2800
Discover it 2500
Citi Forward 5400
Chase Freedom 1000
AMEX Blue Cash Everyday 5500
Citi Dividend 5600
Cap One Visa Platinum 750 (CLOSED)

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 29, 2014 11:44 pm

Some people may get special terms with the BCE, but they aren't for everyone. I was arguably a stretch for the BCE and got terms much less favorable than above. I PIF, got a much bigger limit than my other cards, and the rewards are the same, so it doesn't hurt me, but...

*reading my 8/11/14 cardmember agreement*

0% on purchases until mid-Feb 2015
21.99% on balance transfers
25.24% on cash advances
27.24% penalty APR

Yeah...not as likely to work as a proper balance transfer card...
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

yfan
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Postby yfan » Sat Aug 30, 2014 9:30 am

I would go with Discover. But also keep in mind that your existing cards will often have balance transfer offers. Log into your chase account and see if any happen to be offered for you at this time.



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