Transferring a balance...

[Michelle]

Hello!
I need to find a decent 0% intro card to transfer a balance to and am wondering if there are any cards or companies that should be avoided like the plague (lol)? I'd like a 0% interest rate and no balance transfer fees (I guess I want it all!).
I transferred a balance about 11 months ago and I'm guessing we should keep doing this until it's paid off...unless there's a better way?
Thanks for any help!

[koledust]

I was looking for the same thing... not sure if we can have that though...lol

[hotcouponmama]

I can't say which card has a 0% right now, but from a credit perspective, avoid Capital One. While they might give a decent line, they don't report your credit limit, so it always looks like you're maxed out when you use the card, even if you're not, which keeps your credit score low.

[kdownie]

Good luck with the "no transfer fees" part. My DH and I looked around for a 0% interest card, no transfer fee, for a good while. We ended up finding plenty of 0% cards but no "no transfer fee" ones. No advice on particular ones though. I have used Discover cards before with good results. Just don't use the cards for ANY purchases! Simply transfer the balance(s) and pay on time. Good luck!

[berlinsmommy]

Someone posted this (http://www.citibank.com/us/cards/cardserv/associated/index.htm) over on FW back in Feb. I'd call first to make sure the offer is still valid, but it is a 0% for 12 mos with no balance transfer fee.

To the OP though, with the current credit crunch, these offers are getting fewer and farther between. If I were you I'd make every effort to pay off your credit card balance before this next offer expires because there is a decent chance that the 0% offers will be all dried up 12 months from now.

[MaryMary]

Fed is done lowering the rates, 0% offers indeed are drying out for good.

[Mothernature]

Fed is done lowering the rates, 0% offers indeed are drying out for good.

Do you have a source for the Feds statement? As gas and grocery costs continue to rise, more people will default and foreclose on their homes. I can't foresee how the Feds could be static with interest rates.

Avoid Chase, Bank Of America, and Discover. Chase changed my address without my permission; identity theft. They hit my credit report with a 30 day for activity on an account they were supposed to close (when the ID theft occurred). I've fought with Chase over the yearly fee for the card (I had no balance on this card) and the 30 day. They won't budge. Of the credit cards I have, they have the highest interest rates too. There is no justification for these rates. I'm considering legal action against Chase. It would not be too difficult to win. Look at all the law suits against this company (chase law suits - Google Search (http://www.google.com/search?client=firefox-a&rls=org.mozilla%3Aen-US%3Aofficial&channel=s&hl=en&q=chase+law+suits&btnG=Google+Search))


BOA reviewed my credit report, noticed the 30 day, and threatened to increase my interest rate by 15%. I have never paid BOA late and pay my bills off monthly. You can read of BOA's practices Bank of America blindsiding cardholders? - MSN Money (http://articles.moneycentral.msn.com/Banking/CreditCardSmarts/IsBankofAmericaBlindsidingCardholders.aspx)

The only creditors who seem to actually care about their customers are Citibank and American Express.

[MaryMary]

FRB: FOMC Minutes, April 29-30, 2008 (http://www.federalreserve.gov/monetarypolicy/fomcminutes20080430.htm)

"the Committee felt that it was no longer appropriate for the statement to emphasize the downside risks to growth. Given these circumstances, future policy adjustments would depend on the extent to which economic and financial developments affected the medium-term outlook for growth and inflation. In that regard, several members noted that it was unlikely to be appropriate to ease policy in response to information suggesting that the economy was slowing further or even contracting slightly in the near term, unless economic and financial developments indicated a significant weakening of the economic outlook."

[MaryMary]

I have both Chase and Discover, cannot say a bad word agains them (besides too low Chase rewards offers, lol).
Just recently someone SWIPED my Chace CC on gas station in TX for $1 (I'm in New England), their security caught it right away, contacted me and freezed account, declined $900 charge in Circut City at the same TX town a little later the same day.
Last August I lost my discover card, called CS to change the account. They "sold" me on Wallet Protection plan, $2.99/mo, they said I'd receive monthly credit reports and if I'll see anything suspicious will be able to act quick. In a couple months I saw no reports. when I called they said I didn't understand it right, they'd be monitoring my account for suspicious activity, I'm not suppose to receive any credit reports for this service. But I insisted I understood right what was said, and it was misinformation on their side, they had to investigate, have a procedure to check record what I was told at the onset of the service. They refunded me all fees paid for 3 months.