SO I just got the Ultimate Rewards Card in the mail today and called Chase, and without asking the increased my CL from $6k to $10k if I transferred on the BT. NO BT transfer fees too. I can transfer up until March for the 0% until next December. The card looks pretty cool to boot. It's a shimmering orange and silver color.
CHASE LOGIC... Customer is paying 7.99% on $0.00 Customer is willing to pay 1.99% or 2.99% on about $7,200.00 CHASE----->WE WILL TAKE THE 7.99% ON $0.00
Not Chase. Be careful with them. They'll jack your rate because they found out you part your hair on the wrong side. Or maybe they don't like the color of your eyes.
I do have a plan B for the infamous CHASE JACK should it happen. ------>Pay-off or BT to BofA. But I'm thinking I can go the distance with this one. One full year of no interest.
I agree with Hedwig. When we first got Chase, it was all cool. Then they jacked us into default for no reason whatsoever (and yes, DH's scores were improving, yet Chase was claiming that they weren't) and were very unhelpful if not downright rude during phone conversations. Result? Chase paid off, account closed. Who got our money? BofA of course. PawMix
I have to agree with most of the others, Chase is okay at first but then the screw you big time!!! Wouldn't deal with them if I were you!! Good luck with it anyway. You're smart to have a backup plan.
Yes, it always pays to have a backup plan. February will mark the end of my first year with Chase and $10,000 bt at zero percent. Needless to say, I made very healthy progress and getting that paid off with extremely big payments each month. I received a letter from Chase yesterday confirming another bt at zero percent until December 2004, and a lowering of my purchase rate. I had not purchased anything during the first year simply because I was interested in getting the balance paid off, so I assume the lowering of the purchase rate is to tempt me into purchasing. Since this is a rewards card, I might consider doing that once this latest zero percent deal is paid off. Who knows what the future holds for this card, but so far I have been satisfied. The customer service has been good at responding to emails, etc. and online payment is posted very quickly.
Yes, they want you to purchase. Both Citi and AT&T Universal (now a Citi card) keep sending me offers and calling me with offers. Things to buy, insurance, credit protection. Since I only have BTs with them, I won't purchase a thing. It sits there and accrues interest at the higher rate while you pay off the BT at the lower rate. My AT&T card is at 3.9%. It makes no sense whatsoever to pay more than the minimum. So of course I don't want to charge any purchases. I just BTd another $5,000 to them, and now it seems like they've stepped up their attempts to entice me into purchasing something even more. I'm getting ready to BT the Citi to BankOne at 4.9%. The Citi is 5.9% and a little at 7.9%. Then I'll be ready to use the Citi for purchases. Don't bite on the purchases until you've paid off the BT.
Re: Re: I LOVE Chase! It makes perfect sense when you realize that they have to get the money from somewhere. The $7200 bucks they would need to hold your balances is money they either have to borrow from somewhere else (at interest) or their own money that they could be doing something else with that's likely to pay better than 2.99%. When you look at it that way, it makes sense that they might rather you have a zero balance and maybe send them a transaction fee once in a while than to carry your balance with money that could be doing something else. Money isn't free for the credit grantors anymore than it is for the consumers.
Re: Re: Re: I LOVE Chase! THE FEE THEY GET ON ONE TANK OF GAS COULD NEVER EQUAL THE INTEREST ON $7,200.00 @ 1.99% or 2.99%
Re: Re: Re: I LOVE Chase! I have loved Chase for awhile and have a decent line and 5.99% on BT and Purchases. But no auto increase they just taunt me with the "increase credit line button" I am going to pay them off and sock drawer them for a few months see if they notice.
Re: Re: I LOVE Chase! Of course you are right MyCroft......the cost of MONEY is not free to the banks and they must pass this cost on to their borrowers, or alternatively, invest their ca$h in an investment which would yield a higher return. But in this case, comparing myself to George, George *seems* the more lucrative customer for Chase. I am willing to pay a maximum of 0% interest for one year on a balance of approximately $9k, and with no BT FEES on the offer from Chase, they only stand to lose money on a customer such as myself. And if Chase "jacks" me, fine, I'll just pay it off. But with George, at least they could make the 2.99% for maybe six months to a year, and probably even ding George with a BT fee (sorry George). Makes no sense, George is the "better" customer.
Re: Re: I LOVE Chase! Hello "MRS GEORGE", Thank you for your request for a lower rate. At the present time, there is no lower interest rate available on your account. However, accounts are periodically reviewed for promotional rate sales and we request you contact us in the future.
Hedwig, Thanks for that tip on the not doing purchases til' the BT is paid off. This is my first BT that I have done like this and I didn't realize that my payments would be credited to the BT at 0% before my purchases at 7.9%. After reading your post, I went over the terms/conditions very carefully and am GLAD I did. I would have been stuck paying 7.9% on about 1.5k in purchases for a year as my payments would go to the BT. But after doing some checking, I stopped using the cc for purchases, which were fortunately only at $80.
So after all this, I just checked my account with Chase, and I have been credited with almost 10,000 points. All from the BT at 0% for one year. What a deal, 0% for one year, plus a $100 Gift Certificate on the BT I did. I thought most cc's don't credit you points on BT's, is this right? Or is Chase just really aggresive with new buz?
Re: Re: Re: I LOVE Chase! HER CARD IS STILL IN THE SOCKDRAWER...AT $0.00 They are making "TONS" of money at 7.99%??? She would take 2.90% @ $7,000 = $16.92/MONTH ...or even 4.00% @ $7,000 = $23.33/MONTH 7.99% @ $0.00 = MORE MONEY FOR CHASE???
