0% Card Offers?

motion · 11-30-2006, 04:48 PM

So I'm getting inundated with 0% until 2008 credit card offers. I usually get a couple a day, but to be honest, I toss them because I already have all the cards I need. I'm wondering if they are *really* 0%? I know that they are initially, but if you slip up on any of your other cards or accounts, going a day over the due date, they can nail you for 30% or whatever the going max rate is, without even telling you. Just wondering how many of you have the 0% cards and if they stay that way or change unexpectedly.

I went ahead and went for the Chase offer a couple weeks ago and received my card a couple days ago. Wondering what to expect... funny, though, that as soon as I received the Chase card, those (&(&(&(^&*^%*&s started calling me 5 times a day to offer me more crap. I asked to speak to a supervisor and insisted they remove my name from their lists.... so far, so good.

cantdrv55 · 11-30-2006, 04:51 PM

I have a Chase 0% and, yes, it stays that way until the end of said term then I usually roll the balance over to another 0% until it's paid off. Free money!

cantdrv55 · 11-30-2006, 04:53 PM

Yup, you'll be on "the list" from now on but the good part is that you'll keep gtg 0% offers! Having great credit deserves a pat on the back.

the · 11-30-2006, 05:55 PM

Quote:

Originally posted by cantdrv55
I have a Chase 0% and, yes, it stays that way until the end of said term then I usually roll the balance over to another 0% until it's paid off. Free money!

why?

turbo6bar · 11-30-2006, 06:12 PM

The downside to 0% credit emerges when you run out of crap to buy. Then you're like "WTH do I do now?" Should I buy some spoons?

motion · 11-30-2006, 06:15 PM

I guess the problem with these cards is that they encourage you to keep a balance going. I'd like to think of them as good emergency sources.

Rick Lee · Rick Lee's Garage

My old man always shakes his head at those 0% APR commercials because he can't understand why anyone would ever carry a balance. Yes, he lives in an alternate universe. Currently, I have Citi MC's, one which pays 5% back on grocery store and gas station purchases and one that pays 3% on restaurant purchases. I just applied for a Chase card because it gives 20k miles on Continental and that puts me into free ticket to Asia territory. But I couldn't care less about APR's, since I never carry a balance.

turbo6bar · 11-30-2006, 06:51 PM

cash back is very, very good

motion · 11-30-2006, 06:59 PM

Spoons, lol. Not in this universe, Jurgen.

targa911S · 11-30-2006, 07:02 PM

Quote:

Originally posted by cantdrv55
I have a Chase 0% and, yes, it stays that way until the end of said term then I usually roll the balance over to another 0% until it's paid off. Free money!

I do the same thing. Keep em comin' boys.

stomachmonkey · 11-30-2006, 07:13 PM

0% Capitol One. It is what it is.

Never carried a balance till my corp went chp 7 on me.

When you are used to living on a 6 figure income the $450 a week from unemployment just don't cut it.

Ran up the Citicard till I got my footing back, kept my cash in my pocket earning interest, moved the balance to a Cap One 0% interest and now get to pay off the float over time for free and keep the earned interest.

As long as you know the rules you can beat the game.

Yeah baby!

Scott

Joeaksa · 11-30-2006, 08:39 PM

Motion, you mentioned throwing the offers away? Hope you guys are all shreading all of these offers so that some scammer does not get a credit card in your name!

Everything with my address on it goes through the shredder. As well every year or so I check my credit report just in case. BE CAREFUL!

stevepaa · 11-30-2006, 09:38 PM

I just noticed that Shell is offering a card through Citi that gives 5% back on gas and 1% back on everything else. Any better cash back offers out there?

cantdrv55 · 11-30-2006, 09:47 PM

I use my Costco Amex for the rebates and I never carry a balance even though everything but big ticket items go on it and I mean everything. I pay my phone bills, utility bills, gasoline, groceries, etc with my AMEX so I get a hefty rebate every year. Big ticket items go on the 0% and I usually pay them off before the free financing period expires. If I don't, I'll just put it on another 0%.

I love it when I can buy big ticket items at department stores on their 90 days same as cash deals. These credit card companies are giving us, sometimes, 18 months same as cash! Free financing for a year-and-a-half. That's having your cake and eating it too!

stevepaa · 11-30-2006, 09:56 PM

Anyone know of a 0% with no fee for balance transfers??

cantdrv55 · 11-30-2006, 10:54 PM

Steve,

AAA just sent us another 0% card offer for 15 months with no fee for balance transfers. The card is through Chase.

dmcummins · 12-01-2006, 04:31 AM

These were great back when you could buy savings bonds with a credit card. I would buy savings bonds with a card with 1% cash back, then transfer the balance to a 0% card.

You did have to watch the dates that the deal ended. I would generally just keep transfering at the end of the term. Free money for very little work.

I keep getting the checks from the credit card companys that have very low interest. Maybe I should look into buying some cd's and then transfering these balances to a 0% card. You do have to make sure there are no balance transfer fees.

Big Ed · 12-01-2006, 04:37 AM

Quote:

Originally posted by stevepaa
I just noticed that Shell is offering a card through Citi that gives 5% back on gas and 1% back on everything else. Any better cash back offers out there?

I have AMEX Blue Cash -- get 5% back on purchases at gas stations, grocery stores, and drug stores. 1% on everything else. No limit to rebate amount.

Only downside is, not everywhere takes AMEX!

wreckersteve · 12-01-2006, 04:56 AM

I used to get them all the time. I guess they got tired of me using there money. Now I just call and they lower my interest rate. 3.9% is what I pay now. Just call and keeping saying you want better. You will be put on hold but it is worth it.

VincentVega · 12-01-2006, 05:22 AM

I do it all the time. Just make sure there are no fees, 3% is coomon. I deposit the $$ into ING and payoff the card at the end, nice ~4% for doing nothing.