Just a reminder, a lot of folks probably are aware of the following info. If you currently have an existing account for credit card. For example, if you had a CitiBank offer of 0% bt offer, that expired. I called them 3-4 times in past 2 weeks and asked for 0% BT rate, but CSR and Retention could only get me ~7.9% for bt and I had ~90% utilization on this CITI Card. So I did BT for entire CITI. balance to my Credit Union Visa at 9.5%. Then I called retention dept. and told rep that I wanted to close my acct. since it has 0 balance and they could not match other 0% offers, that I had available. Now rep says that I have been a good customer, and they do have a 0% BT offer available for 6 mos. So, I accept the new offer and transfer back with utilization over 90% again. Now I can continue to pay down cc debt, and will continue this cycle until I have no more cc debt.
Once again underscoring the importance of always having an out, and having multiple credit cards open with good credit limits. Had you not had the cushion of the credit union card at 9.5%, you would not have been able to snag the 0% rate again.
Yes, I guess the only way the CC co. have the opportunity to get you to pay interest if you have 0 balance, would be to offer a good low rate and hope you can't pay it all off before the promotional rate expires. I will pay off entire balance on another card soon and see if I can get another 0% BT offer.
