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Does anyone know anything about this card? I put some big purchases on a credit card six months ago and have 6 months left on my 0% offer so I was slowly looking to find another alternative after that. If I can keep the rate at 0% for another term I see no reason to pay it off.
Citi simplicity currently boasts a 21 month 0% offer. Has this been a standing offer for years like chase slate or discover IT 0% offers or is this a current teaser incentive?
Trying to determine if I should wait 4-6 months to apply for it or do it now. I have six months left on my current 0% offer. 760 credit score.
Does anyone know anything about this card? I put some big purchases on a credit card six months ago and have 6 months left on my 0% offer so I was slowly looking to find another alternative after that. If I can keep the rate at 0% for another term I see no reason to pay it off.
Citi simplicity currently boasts a 21 month 0% offer. Has this been a standing offer for years like chase slate or discover IT 0% offers or is this a current teaser incentive?
Trying to determine if I should wait 4-6 months to apply for it or do it now. I have six months left on my current 0% offer. 760 credit score.
If you made big purchase time to pay it off. You have 6 payments left to keep 0% interest.
You could have had 12 payments to pay it off so now will have to be twice what you could have paid.
A score of 760 is low. You could make it higher.
Does anyone know anything about this card? I put some big purchases on a credit card six months ago and have 6 months left on my 0% offer so I was slowly looking to find another alternative after that. If I can keep the rate at 0% for another term I see no reason to pay it off.
Citi simplicity currently boasts a 21 month 0% offer. Has this been a standing offer for years like chase slate or discover IT 0% offers or is this a current teaser incentive?
Trying to determine if I should wait 4-6 months to apply for it or do it now. I have six months left on my current 0% offer. 760 credit score.
Usually the only difference is in the transfer fees. I haven't seen a 0% transfer fee in years. If you have multiples offers, just go with the one with the lower fee. Of course you also have to consider the offer length (21 months is pretty good).
"Balance Transfer Fee: Intro balance transfer fee of $5 or 3% of the amount of the transfer, whichever is greater for transfers completed within 4 months of account opening. After that, 5% of each transfer (minimum $5)."
3% fee for 21 months of 0% interest is a great deal. Especially with savings rates hovering around 5%
On another account I wrote myself a check for $26,000 for 1.99% for 12 months and put it straight into a savings account earning nearly 5%. Easiest $700 I’ll make this year most likely. The credit card churning bonuses are more work and the checking account bonuses require me switching my direct deposit.
To me free money just feels so much better than working for it or even passive money from investments.
3% fee for 21 months of 0% interest is a great deal. Especially with savings rates hovering around 5%
It depends on when you pay if off. If you pay it off earlier in the cycle, it's not a good deal. Personally, I would rather be debt free than play that game.
3% fee for 21 months of 0% interest is a great deal. Especially with savings rates hovering around 5%
In a frictionless world, sure. In practice you're doing the legwork of getting the card, putting the transfer through, and then managing another card that otherwise has no value after the period is over or closing it and having a short length credit card on your history reducing average length of credit. The fee is less than the time value of money currently but it eats a large portion of the surplus value that makes all the gymnastics worth doing if what you're going for is putting the balance in a high yield savings account or t-bills until just before the 0% period ends. I guess if the balance or expected spending is very large and you can get a large enough limit to absorb it could be worthwhile still but eh.
I did get a card once for other purposes that had an interest free period and you can bet I paid the minimum and kept the balance invested until near the date it needed to be paid, but I wouldn't get a card just to do that. It's more for people who have a balance they can't pay and are avoiding 20% credit card interest than people trying to scalp a couple percent difference between time value of money and the balance transfer fee.
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