I am looking for a card with 0% BT rate. I have Juniper but it is about to expire. My scores are Eqx-746, TU 721, Experian-671 Thanks, Phyllis
How do ppl get these pre-approved offers in the mail? I only receive those 29% or secured offers in the mail! Not sure why as I have decent scores I think. Phyllis
Phyllis, On the exact date that your Juniper 0% promo is to expire (if you don't know the exact date, call and find out or go online in chat mode to find out), call them and ask them what they will offer you to keep a balance on their card. They have a sweet deal if you agree to BT more $$ to the card. They also, if you decline to do another transfer, will extend a much lower goto rate for a set period rather than lose your business. If you can't get anything better play with what you've got. Play it anyway for the future. On my Juniper I now have a 2% Cash Back Reward and a 9.90% APR. My previous status was NO cash back and a 15.9 goto APR.
George, I got denied by Juniper because my credit history is too short. They need at least 54 months of credit history. My brother got approval from Juniper because he got pre-select offer from Juniper. You cannot get approve unless you get pre-approval offers from the mail. He received 5 pre-approval offer from the mail. Ron.
MBNA is offering 0% through Sept 02 (when we accepted in November that was 10 months. 0% APR (cash advances & bal xfers only) 12.99% APR Purchases ^--- that means, KEEP IT IN THE SOCK DRAWER $0 fee for transfers (3 with application, 6 more checks with the card) This is insanity ... how do they make $? They won me as a customer - at least for 10 months. -mj
The average consumer does not know that they should not use the card during this time. They don't understand how these things really work. That is how the CCC's make money with them.
FYI, I just got offer from Chase Manhattan for Chase Platinum card. 0% int. on BT for 1 year from account opening. 3% BT fee up to $45 per trans during intro period (after intro period, BT fee is $50 flat fee, I believe). Platinum purchase rate is in the 15%-16% range. Reportedly, this creditor pulls TransUnion, so one of your better scores would be pulled and you could probably get this. The way they make money giving you this "great deal" is this. You transfer your balance, then decide to make a few purchases. Your agreement states they can apply your payment to whichever balance they want to (and they always apply it to the BT balance because they aren't making money on that balance). However, if you have a purchase balance, it will accrue interest each month. And the interest will be added to the purchase balance and never get paid because your payment is going only toward the BT. Even if you stop making purchases, you will be charged more interest on the purchase balance each month than the month before. Creditors count on consumers not having the restraint to not make purchases. (BTW I had a similar "buried" cash advance balance. It started out at only $1200 initially, and by the time I managed to "unbury" it, the balance was up to $2000 just from the interest.) This is why they say, make your BT and then stick the card in a drawer and don't use it.
