Sunday, February 24, 2008

Credit Crunch

For a while, I had been preaching the good news of 0% transaction fee transfers from different credit cards that were offering 0% interest-free credit for 6-12 months. Unfortunately, with the current credit crunch in the economy, I have not seen such an offer in months. The best I have seen are credit cards that offer 0% interest on any new transactions, but it doesn't help me very much with my debt-moving game.

Just throwing this out there to alert readers: have you seen any offers of 0% transaction fee balance transfers and 0% interest-free for 12 months on the same card?


Anonymous said...

Anonymous said...

I just got a flyer in the mail for a citi diamon preferred card. 0% apr on purchases and balance transfers with a small (3% of total) fee for the transfer itself. Both I and my fiancee got one for the same card/deal.

Any luck finding the cards you need?

Finance Guy said...

Thanks for responding all.

To answer the last question, I haven't found one yet, but I'm going to try to call one of my credit cards and see if they will allow me get a 0% transfer.

My biggest issue is the 3% fee. Remember, the reason I play the game is because I put the money in a high yield interest account.

However, if they charge 3% up front, and interest rates are about 3.5%, it's not worth while.