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No, the new card imposes the balance transfer fee.
Quote:
Originally Posted by skeet09
The #1 rule for a balance transfer is keep an eye out on the date the offer will expire. I use Google Calendar to remind myself when it happens. Make a schedule on the monthly payments you will make so you can have it paid off before that time. If not, see if its worth it to transfer the balance again after the balance transfer fee.
thank you. anyway i got something from discover via snail mail saying 0 percent apr on balance transfers for 18 months and 0 percent apr on purchases for 12 months. "then a great purchase apr currently 10.99 percent to 18.99 percent variable based on your credit history." the word variable makes me slightly nervous. not sure why. i guess it's because i'm a balance xfer virgin. they're only giving me until april 30 to decide.
thank you. anyway i got something from discover via snail mail saying 0 percent apr on balance transfers for 18 months and 0 percent apr on purchases for 12 months. "then a great purchase apr currently 10.99 percent to 18.99 percent variable based on your credit history." the word variable makes me slightly nervous. not sure why. i guess it's because i'm a balance xfer virgin. they're only giving me until april 30 to decide.
The balance transfer rate won't change before the end of the promo period unless you make a big boo-boo such as missing a payment or going over your credit limit fee. When that happens, then that's when the promo ends and the high interest begins!
Yeah, I lost a 0% interest on a transfer because it was a brand new card. They didn't send me the first bill until 4 days AFTER the first bill was due. I paid it the day it was in my mailbox, but I was already late on my payment, and lost the promotion. I tried fighting it, but didn't get anywhere on it. I had intended to set it up on auto pay, but couldn't do that until the first bill came with all my information.
So that is something to know to watch out for ahead of time.
I think I have about a 760. I signed up for my first credit card when I was 18 and built credit from there. Things are a bit difficult now. Student loan payments help build credit and so do auto loans. Never had a bankruptcy (hope to never have one), missed a payment or went over my credit limit. Credit cards are good tools to have when used in moderation and the rewards are nice too (cash back, points, etc.)
You started building your credit when you where 18 years old? Do card issuers give credit card having that age at that time? What card do you own at that time?
I am 24 and i haven't got any card.. I was too afraid to have one because I don't want to get a lot of debts.. But recently, I realize how much convenience and comfort I will have when I will make use of it..
do citizens of canada even use the same system as us? we use "fico" here (the usa)
I read from a credit card site and we canadians also follow the FICO score..
What is the safest FICO score to have so that i will not have any trouble during card application? I have seen a lot of credit card reviews emphasizing that you must have good credit score..
You started building your credit when you where 18 years old? Do card issuers give credit card having that age at that time? What card do you own at that time?
I believe here in the US the laws have changed to make it more difficult for 18 year olds to apply for a credit card. I was in college at a time where credit card companies set up tables at college campuses with t-shirts and freebies. Companies can no longer do so on college campuses. My very first card was a Visa, then I got a Discover. My limits were about $1k (USD). I was very conservative with the card and only charged a few things here and there that I knew I could pay off. My parents always shared with me the knowledge about credit, debt and all financial.
I don't know if it's still the same, but it used to be that gas cards were easy to get and a good way to help build credit.
We were recently in our bank and asked our banker regarding how to help our son, who will be 18 this fall, how to start building credit (he was the one who asked us).
Our bank does have credit cards for 18 year olds who have been accepted to college. So that is what he will do when the time comes. We have talked to him A LOT about credit, finances, etc. He's an incredibly responsible kid who I have no doubt will handle it properly. I do believe in general it's harder for younger people to get a credit card these days.
I believe here in the US the laws have changed to make it more difficult for 18 year olds to apply for a credit card. I was in college at a time where credit card companies set up tables at college campuses with t-shirts and freebies. Companies can no longer do so on college campuses. My very first card was a Visa, then I got a Discover. My limits were about $1k (USD). I was very conservative with the card and only charged a few things here and there that I knew I could pay off. My parents always shared with me the knowledge about credit, debt and all financial.
Good for you skeet that your parents are allowing you to have credit cards.. In my case, my parents are discouraging me to have one. They are saying that it will just put me into trouble paying the bills.. This is because I have the tendency to be "a millionaire for a day" but I have learned from my past experiences with how I manage my money particularly my allowance coming from my parents..
That is the reason why I do have a lot of questions being ask because I want to make sure that I am knowledgeable enough to own a credit card which keeps me away for getting into trouble..
Yeah, I lost a 0% interest on a transfer because it was a brand new card. They didn't send me the first bill until 4 days AFTER the first bill was due. I paid it the day it was in my mailbox, but I was already late on my payment, and lost the promotion. I tried fighting it, but didn't get anywhere on it. I had intended to set it up on auto pay, but couldn't do that until the first bill came with all my information.
So that is something to know to watch out for ahead of time.
post rated positively. this is precisely the type of advice i want to hear. thanks and have a good day
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this is precisely the type of advice i want to hear. thanks and have a good day
