What's the best credit card deal out there now?

[Rick Lee]

I'm looking for a 0% intro. APR, no annual fee and free balance transfers. Normally, this stuff would mean nothing to me, as I never carry a balance and am happy with the CC's I have now. But I just dropped $3400 for my 993 tranny rebuild and had a few other surprises in the last few days. I have the cash to pay for everything now, but can't deplete my savings while still shopping for a house. I need to maintain liquid cash for the mortgage application process and show cash to close. I was thinking of transferring a balance and then knocking it out over a few mos. I can't stand the thought of paying a finance charge or balance transfer fee. Is there anything still out there like what I need?

[Hugh R]

Take a look at credit unions. They usually have the best deals.

I use a United Visa card, but I use it for everything, and about every two yeatrs I get enough miiles to take my wife internationally.

[ODDJOB UNO]

i just beat the living snot outta wells fargo. i have platinum credit 800+. always early never late blah blah. went round and round with them raising me from 1.9% to 12.6%. "im sorry sir but we have no available offers at this moment"

i roll with chevron/texaco card,and amex card and a wells fargo visa card. PERIOD!


i imagine around march 15 when about 60 bazzillion people tell the credit card companies to go feek off and DIE! they ought to have some DAMN NICE INTRODUCTORY OFFERS !

[chuckw951]

The last time I looked the best 0% balance transfer deal was with Discover but there was a flat $75 balance transfer charge. I used it to pay back $6K over a year so to me it was worth the $75.

The days of $0 fee transfers with 0% might be over. I hope I'm wrong. I just looked at the Discover site and now they are charging 5% of the transfer amount!

In terms of good deals, I just opened a Chase "Freedom" account. Use it once and get $50. It's also 0% for a certain period of time...but I'm not sure about balance transfers.

There are a couple of sites out there that compare credit card offers.

Another idea might be a short term 401K loan (and I'm sure we could have a long debate about the pros/cons). If you used a 401K loan, then the amount you would be borrowing wouldn't show up on any credit report.

[Gogar]

It's been a few years, but I did a Capital One deal once with no fees and a 3.9 "lifetime of the balance transfer" thing. Finished it up in about a year and haven't used the card since.

[Rick Lee]

Yeah, the Discover looks to be the best deal out there now. But I don't think 0% and no balance transfer fee are available in the same card. If Chase still gives $50 back, that should just about cover the balance transfer fee. Must look into that.

[Gogar]

I have noticed that balance transfer and CA fees have changed drastically too, so be careful.

[Rick Lee]

BTW, I just canceled my Chase MC because they didn't go to bat for me in a dispute. That $50 cash-back offer from Chase is only for new cardmembers, so I don't think they consider me a new cardmember anymore.

[Porsche-O-Phile]

HSBC is pretty good. The only one I have that hasn't either tried to slash the credit limit or jack the rate up in the last year. I don't know what kind of deals they have right now but my card with them is (still) a 6.9% and had a 12 month 0% for transfers when I got it about a year and a half ago.

We'll see if they try to pull an "eleventh hour" jack up of the rate when the deadline for the new regulations approaches, but I've seen nothing from them yet to indicate they plan on it.

[Rick Lee]

Man, do I hate HSBC with a passion. But they do have no foreign currency transaction fees, which I want in case I keep the card longer than it takes me to knock out the balance. There just is nothing out there with 0% APR and no fees on balance transfers. Most charge 3-5% for a balance transfer, but then 0% on that balance for a year. My credit union has no transfer fee, but charges 4.9% APR on all balances.

[Eric Coffey]

For balance transfers, this one might not be too bad, if you plan on paying it off (or re-transfering) within a year.

[nostatic]

So far I've had great experiences with Chase - multiple fraud attempt caught and taken care of. I got a 0% APR offer on my Citi card the other day but it was only for a 6 month period. My AAA visa sucks as they did away with their grace period so even when you pay it off at the end of the month there is a small amount of a balance the next month. I rarely use it though.

[Rick Lee]

That Citi card also has a 3% balance transfer fee, which most others do. This is a tough call. I have 11.9% APR on my USAA MC. But the tranny shop hasn't charged it yet. I wonder if I could make them hold off another week or two until I get a new CC and put the whole thing on there, since there'd then be no balance transfer at all and I'd have a year to pay it off at 0%.

[widebody911]

i imagine around march 15 when about 60 bazzillion people tell the credit card companies to go feek off and DIE!

How is Idus Martias significant w/r/t credit cards??

[Rick Lee]

Uh oh. Just applied online for a Cap. One and got turned down! WTF? My FICO was 799 last I checked about three mos. ago. No credit card debt until yesterday. WTF?

[MBAtarga]

These are from the fatwallet forum link on the best balance transfer card link
http://www.fatwallet.com/forums/finance/902958/

Requirements for cards to be included in this list:


1. Must have no Balance Transfer fee or capped Balance Transfer fee (BT fee).
2. 0% or very low APR for Balance Transfers.
3. Must not be a pre-approved offer like you get in the mail.
4. Geo-specific cards (like National City & Fifth Third Bank) are OK, but note if they are restricted.

Personal Cards - everywhere (?)

Max FW
APR Mo. BT Fee BT Fee Issuer Card Thread Apply Notes
0% 6 3% $75 Infibank Suntrust Visa info Call 866.371.9606
0% 12 3% $75 Chase Disney Rewards apply
0% 12 3% $75 Chase OptionsXpress Platinum Visa apply
0% 12 $0 $0 US Bank TheLinuxFund.org FW link apply (Elan)
0% 12 $0 $0 US Bank Baylor Alumni card FW link apply (Elan)
0% 12 $0 $0 US Bank Prof. Bullrider's Assoc. FW link apply (Elan)
0% 12 $0 $0 US Bank American Humane apply (Elan)
0% 12 $0 $0 US Bank Sons OF Norway apply (Elan)
0% 12 $0 $0 US Bank African Wildlife Foundation apply (Elan)
0% 12 3% $75 US Bank Rails to Trails apply (Elan)
0% 12 3% $75 Barclays Coast to Coast Visa apply
0% 12 3% $75 Barclays Rec Reward apply
0% 12 3% $75 Barclays Good Sam apply
0% 9 3% $50 Barclays Priceline apply
0% 6 0 $0 Barclays Harvard World MasterCard (Alumni) apply terms as of 12/5/09
0% 6 3% $50 Barclays L.L. Bean Visa apply
0% 6 3% $50 Barclays Emmigrant Direct apply
0% 6 3% $50 Barclays Multiple other cards info
1.9% 9 3% $50 Barclays I Fly America card apply
0% 6 3% $60 RBS Citizen's Bank Platinum MasterCard apply Pulls 2 of 3 bureaus
0% 8 3% $60 RBS People's United Bank card apply Pulls all 3 bureaus
0% 9 3% $150 StateFrm State Farm Good Neighbor FW link apply Pulls all 3 bureaus
0% 6 $0 $0 5th 3rd 1st Southwest bank apply - worked in April 2009


Notes:

* - Elan (US Bank) is also the issuer for many local banks and some CUs.
* - Capital One continues to send out no-fee purchase checks to prime customers, so might be worth 3 inquiries for some (e.g. as a balance transfer target)

Personal Cards - Limited lending area

Max FW
APR Mo. BT Fee BT Fee Issuer Card Thread Apply Notes
0% 6 $0 $0 ? Bank of Kentucky Visa info Call to apply. Nationwide?


Business Cards - everywhere (?)

Max FW
APR Mo. BT Fee BT Fee Issuer Card Thread Apply Notes
0% 6 3% $99 Barclays BankAtlantic Business Card apply
0% 6 3% $75 Barclays Multiple other cards info Check bottom of page

Business Cards - Limited lending area

Max FW
APR Mo. BT Fee BT Fee Issuer Card Thread Apply Notes




DEAD??

Max FW
APR Mo. BT Fee BT Fee Issuer Card Thread Apply
0-6% 6-9 3% $99 W. Fargo Visa Platinum apply W.F. or Wach customer to apply.
0% 12 $0 $0 Banco Popular Bota y Cambia offer link Open in branch
0% 7 0 $0 BOA Mercedes Platinum apply
0% 6 $0 $0 Nat City Visa Business apply Geo-restricted
0% 6 $0 $0 Nat City Lifespring Health apply
0% 6 $0 $0 Nat City Quilter's Rewards apply
0% 6 $0 $0 Citi Home Rebate Platinum Select apply
0% 12 3% $99 Wachovia Visa Platinum FW link apply
0% 12 3.5% $99 5th 3rd Fifth Third Bank Platinum apply BT cap is gone
0% 12 $0 $0 Citi CitiBusiness Card with TYN app_1 app_2 Can't find it anymore
0% 12 $0 $0 Citi CitiBusiness Card Platinum Select apply ditto
0% 12 $0 $0 Citi Professional apply
~6% LIFE 2.5% $100 PFCU Platinum Cash Rewards apply
0% 12 $0 $0 Citi Diamond Preferred FW link Apply
0% 12 $0 $0 Citi Premiere Pass FW link apply
0% 12 2% $30 BofA NEA Platinum Plus apply
~3% LIFE 2.5% $100 PFCU Platinum Cash Rewards apply
0% 12 $0 $0 BofA Platinum Plus (12 months) FW link
0% 12 $0 $0 Xceed CU Xceed Financial Platinum FW link apply
0% 13 3% $75 Barclays Juniper Business Card apply
0% 12 3% $75 Discover Discover More apply
0% 12 3% $99 Citi AT&T Universal Business Card apply
0% 12 $0 $0 Citi ATT Universal apply
0% 12 $0 $0 Citi Drivers Edge Optns Plat Sel FW link app_1 app_2
0% 6 $0 $0 Simm 1st Simmons First Visa Plat Trav apply
0% 12 $0 $0 Citi Generic Platinum Select (no div) apply
0% 12 $0 $0 Citi ADA Mastercard FW link apply
0% 6 $0 $0 Pulaski Iberabank Visa Platinum Rewards Card apply ....

[Porsche-O-Phile]

Wow, good source.

And FWIW Chase sucks donkey cock. No reason whatsoever they raised my rate earlier this year from a 6.9% to a 29.9%. No, I didn't trigger a default rate. They also closed the account, not that it matters much (I don't have much of a balance with them). This was about 2 months after the Washington Mutual takeover, so I'm sure it was Chase's beancounters, not Washington Mutual's.

I despise them on general principle. I'll certainly not be in any kind of hurry to do business with them in the future (I didn't really choose to this time, they just happened to take over Washington Mutual, which had failed, so I "inherited" them by default). I'll probably pay them off in the next couple of months and send them a (satisfying) "good riddance" letter.

[Scott Watkins]

Rick, I don't know anything about your overall situation, but if $3k is putting you into a situation of having to move money around on CC's so you can stay liquid to buy a house. I'd say you should step back and revaluate the overall position on finances. If you’re this tight getting into the house, you haven’t seen anything. Wait until uncle Murphy moves into the guest room.

Just my $.02 worth...

[Rick Lee]

Originally Posted by Scott Watkins

Rick, I don't know anything about your overall situation, but if $3k is putting you into a situation of having to move money around on CC's so you can stay liquid to buy a house. I'd say you should step back and revaluate the overall position on finances. If you’re this tight getting into the house, you haven’t seen anything. Wait until uncle Murphy moves into the guest room.

Just my $.02 worth...

I'm not tight. Problem is, at least in my loan officer experience, large deposits shortly before buying a house are a problem. I never keep more in a checking account than about the largest check I write per month. So I sometimes transfer cash between accounts. As I said, I have the money in other accounts. But shifting cash around will show up on the bank statements I have to provide for the loan app and I'm in no mood to write a bunch of explanations and show paper trails. I could pay off everything anytime. But any movement of dollar amounts larger than a regular, bi-weekly paycheck deposit (I predict commission checks might even be an issue here), and I'll some splainin' to do. Last house I bought, I had to borrow $70k (20% down payment) from my folks for a few weeks until the sale of my other house closed. I think the bank wanted to know more about them than me for that one. What a PITA.