Best zero interest credit cards? (pay, transfer, income, mortgage)
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My husband and I are retired. Almost completely out of debt but will still have a home equity line of credit (HELOC) that is just 4% but I still hate giving banks any money for interest. At the end of July we will have only about $10,000 left on this HELOC and want to transfer it so every payment goes toward principle. This HELOC will be our only debt except for regular bills like gas, electric etc, house mortgage will be paid off too at the end of July. Zero interest credit cards is why we are in such good financial shape living on a shoe string income of just $1600 a month.
We have excellent credit around 820 so getting a new card shouldn't be a problem but how does one get the credit limit I need? Call them after getting it?
I know that there are people who frown on getting zero percent credit cards but it is what works for us.
I am looking into
citi diamond, citi simplicity and chase slate but since I wouldn't to balance transfer till the end of July or beginning of August I am just looking for ideas.
You may need to split the balance between more than one card.
Chase Slate is a good card, from what I've heard. Whatever card you choose, I'd apply by phone and see first if you can get a credit limit high enough to work for what you're planning to do.
Many introductory cards are interest free for a limited time. You can transfer your balance there, BUT you need to remember when that period ends and transfer your money to another introductory offer.
You need to have a good credit score to get approved.
City Simplicity is 21 months, but it has 3% balance transfer. https://www.nerdwallet.com/blog/top-...-credit-cards/
Many introductory cards are interest free for a limited time. You can transfer your balance there, BUT you need to remember when that period ends and transfer your money to another introductory offer.
You need to have a good credit score to get approved.
City Simplicity is 21 months, but it has 3% balance transfer. https://www.nerdwallet.com/blog/top-...-credit-cards/
Yes I know it is limited but I we transferred one card twice and the cost to transfer was still less than interest over all. I am also thinking of contacted the cards I already have and see if I would qualify for any promotions which is what I have right now in a discover card we have had for 20 years and the credit limit is for this one $18,000. The balance will also be paid off at the end of July for this one.
As for paying off the balance every month, I do that for all my other credit cards but this particular one we wouldn't be able too as to why I need to balance transfer it
Chase slate I think offered 0% for 18 months with 0% balance transfer. I used that to get out of credit card debt after school. Figured out how much I'd need to pay each month to have a zero balance after 18 months, set the auto payments to that amount and that was it.
Chase slate I think offered 0% for 18 months with 0% balance transfer. I used that to get out of credit card debt after school. Figured out how much I'd need to pay each month to have a zero balance after 18 months, set the auto payments to that amount and that was it.
I was thinking of a chase card too. But since our money (inheritance) won't be available until the end of July or the beginning of August, I worry about applying to soon. Not sure how long I have once I get it. Technically I could get it now and transfer the portion that we will have left over now. Not sure what to do just yet.
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