balance transfer offers ?

[markio26]

i have been receivng almost 5 offers per day lately... mostly 0% for 6 mos.,or 4.99% for the balance until paid for....
i just did a 3.82% bt for 12700, it cost me $99 fee...
i completed another one last week for 8000 at 4.99% for the bal of loan and it also cost a $99 fee.... the lower 1.99% and such are for 3-6 mos... is this what you are receiving too? i did manage to pay an extra 2100 on one card this month.....please comment, i learn so much.. thanks in advance.

[PRICEPLUS]

I am so glad my cards are paid off and I don't have to agonize over this stuff anymore!

thanks to the credit bureaus' opt out website, I don't get any of them anymore.


and I love it.

[disneysteve]

Originally Posted by rexdart

thanks to the credit bureaus' opt out website, I don't get any of them anymore.


and I love it.

I opted out, but I still get one or two a day because companies that you have existing relationships with are allowed to continue sending you offers. That means any bank, brokerage, professional organizations, clubs, charities, etc. I wish there was a way to totally stop the offers.

[markio26]

i use the transfers to make money on, most of the time... i have the money to pay them off, thankfully... i just need to use them, other than using my discover one all the time, and then paying it on line the next day....some of my credit cards are going unrenewed due to inactivity........i remember a time when i did not get many offers... and then maybe 3 a week, i was just telling everyone, i am seeing an abundance lately....lol... thanks for the comments guys and gals... appreciate it...

[Ima saver]

Why are you paying a $99 fee and how can that make you money??

[disneysteve]

Originally Posted by Ima saver

Why are you paying a $99 fee and how can that make you money??

There is often a fee for balance transfers and convenience checks. If you transfer $12,700 from a high interest card to a low interest card, you can save way more than $99 in interest charges by the time you pay off that debt. Consider it to be a refinancing charge.

[kv968]

Although saving money on interest is great, keep in mind that continuously bouncing the balance around will lower your credit score.

[markio26]

i make more money in the stock market and other investments that are 6 mos. in duration or sometimes up to 5 yrs......the fee was stiff i admit.... most of the time it is $50 or $60.... but, that is the norm for the recent offers.. others were asking 3% of the balance...............well, i will be paying back in cheaper dollars, due to inflation, etc.... the loans are locked in..... hsbc is paying 6%, i think right now for a few months, for example.... i do use the 0% bal. transfer offers occasionally.... not this year so far...................................
we loaned our friend money at 10% interest... this is his 6th loan, and he pays faithfully, is another example....
both, my spouse and myself have excellent credit scores.... so, far no problem.. i have done this for about 7 yrs... move money around... it used to be great with a float of 7 days on the checks and such... those days are over...
just like the discover card was a 45 day float, until you had to make a payment... i don't even know what it is now.. i use my card for purchases and immediately pay it on line as soon as it posts... thanks for the info...

Originally Posted by disneysteve

I opted out, but I still get one or two a day because companies that you have existing relationships with are allowed to continue sending you offers. That means any bank, brokerage, professional organizations, clubs, charities, etc. I wish there was a way to totally stop the offers.

bah!


serves me right for shooting my mouth off.


got one from Citi today




0% on balance transfers until 05/01/2008


and then written below that...


(That's more than a year from now)



well thank you Citi, I appreciate your help in working that out






no thanks



unless you can throw in a plane ride with Maria B, then maybe we can talk...