I just checked my Citibank account and looked at the BT offers. Here are the choices they offered me: 5.9% good until September 04 6.9% good until July 04 9.9% good until July 04 My question is, why would any sane person take a higher rate for a shorter time? I can't believe anyone would take numbers 2 or 3 when they are also offered the first one! The time to accept the offer was the same on all three!
Citi is not the only dumb bank. A lot of them offer me teaser rates like those, even with an outstanding balance at a higher rate. I guess they figure I can't affor to pay the old balance at 9.9% and borrow it right back at 2.9%. , but I love them for it. www.creditsense.com
I ALSO DON'T UNDERSTAND WHY "NEW" CUSTOMERS RATES BETTER WITH 0.00% FOR 15 MONTHS...AND I RATE 4.90% TILL PAID...
Probably because they want more customers. But all of mine were offered at the same time. I didn't take any, I already have a good BT for life of the transfer on this card.
I know that 4.90% TILL PAID is better IN THE LONG RUN...but it would be nice to be offered 0.00% BT even if it is only 6-9 months!!! Just pay it off 1 week before the final payment due date!!!
GEORGE: They offered me the same 4.9 till paid. I PFBed them and two weeks later got it down to 3.9 till paid. They even changed the previous BT to the 3.9% This is a card since '96.
I'll always take 0%. I'll take my chances on another 0 coming before the first one expires, that is why I have 18 lines and always on the look out for more. www.creditsense.com
...BUT I HAVE THE "GEORGE FACTOR" TO CONTEND WITH!!! I have been making $900+ payments 2-3 times a month...I THOUGHT THAT MIGHT SHOW THEM THEY COULD DO SOMETHING WITH A "PRE-APPROVED" LIMIT INCREASE...OR A REDUCTION IN THE INTEREST RATE...BUT NOTHING...YET!!! I have PAID IT IN FULL 3 or 4 times in this year and did some more BT's... My limit is $XX,700...IF I ASK FOR THEM TO "ROUND IT OFF" would they automatically do a "HARD" even for $300??? Or would they do something larger and NO "HARD"???
Yea but I have "the maximum CL they allow for my policy." What ever that means. But then they give me a BT check to put in my checking account which is $2000 more than my current limit. They decided to give me the $xx,000 at 3.9% which bumps my CL up $2000, but they will not give me an increase without taking the money. Go figure. By the way, took the money and am going to pay it right back to them. Thats one way to get an increase.
It's hard to tell with Citibank. I haven't figured them out. I had paid off my card, not used it for a year or so. Then I got the BT offer and almost maxed it out with a BT. I paid minimums for 2 months and they increased my limit by $2,000. Now, about 8 months later, with some big payments, they don't increase me at all. So I wouldn't even venture a guess. And, as you said, there's the "GEORGE FACTOR" for you as well.
Yes, they now will give me another $4,000 CL increase if I do a BT. But all of these offers are worse than what I have, so I guess I won't get an increase. It will be interesting to see if they increase my limit in a few more months.
Re: Re: Citibank Offers Don't Make Sense I "WAS" debating on min payments...BUT I JUST CAN'T MAKE MYSELF DO IT!!!
Re: Re: Citibank Offers Don't Make Sense If you have a really low rate, and can use the money elsewhere or get about the same return, it makes sense to do minimums. If not, then pay what you can.
Re: Re: Citibank Offers Don't Make Sense I have a 0% till may '04 which I pay min. on. The Citi I pay as alot more(higher int.). The BT I have with Citi is good for a year. When my 0% is up Citi will probably get the balance(unles one of my other cards offers a 0%).
Re: Re: Citibank Offers Don't Make Sense I just got rid of WIFE'S 9.90%...next is her 7.99%...then MY 5.90% Everything we have TODAY is 1.90%-7.99% I NEED ANOTHER 0.00% BT...
Re: Re: Re: Citibank Offers Don't Make Sense My DISCOVERCARD is 12.99% (NEVER PAY THAT MUCH THOUGH) OUR LIMIT IS 9.99% (MANY HERE HAVE THE SAME LIMIT WE DO) ANY CHARGES THAT WOULD ACCRUE INTEREST ABOVE 9.99% MUST BE PAID IN FULL!!!
Re: Re: Re: Citibank Offers Don't Make Sense Trust me...that Discover was lucky to get a 5.9% BT. I don't charge anything to it. Now that I got the Citi at 3.9, Discover will be on ice (or in the sock drawer).
