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Looking for low permanent CC transfer rates
Old 09-18-2006, 05:11 PM   #1
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Looking for low permanent CC transfer rates

My mother saw a CC offer I got in the mail for 3.99% on balance transfers for the life of the balance. She asked if I'd open it and let her put some debt there. (We've done this back and forth within the family a few times; has worked fine so far, and I've benefited in the past as it made my debt elimination much faster.)

I haven't read the fine print in the offer yet, but I did head over to bankrate.com to see how it compared with other offers. But I don't see how to compare the balance transfer rates. I can pick "best deal on balance transfer" in the advanced search, but the resulting list isn't helpful at all. It doesn't say what the transfer rate is or how long it lasts. Am I missing something? How do I search for the best fixed-rate (not introductory) balance transfer rates? (Anywhere...it doesn't have to be at that site.)

(BTW the offer is AMEX BlueCash.)

Thanks!
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Re: Looking for low permanent CC transfer rates
Old 09-18-2006, 05:15 PM   #2
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Re: Looking for low permanent CC transfer rates

BMJ, try this site:

http://www.creditcards.com/

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Re: Looking for low permanent CC transfer rates
Old 09-18-2006, 05:23 PM   #3
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Re: Looking for low permanent CC transfer rates

Awhile back someone posted www.fatwallet.com as a portal for deals.

I pulled the trigger on one of these today. *It is also 3.99 "til paid" *I have learned the hard way to not put any purchases on cards with promo offers AND set up an autopay arrangement from my online checking. *The allocation of payment details vary widely, so I avoid the issue altogether. *This promo is for a card I currently hold and it was sent to me seperately from my monthly statement. *When my monthly statement came, it had more balance xfer "convenience" checks attached, but the terms were different! I presume it would be smart to check by phone AND online to find the best offer. *BTW the offer I got was from Chase Mastercard
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Re: Looking for low permanent CC transfer rates
Old 09-20-2006, 01:21 PM   #4
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Re: Looking for low permanent CC transfer rates

OK, thanks. I found a card to apply for, but I have a connundrum.

At the moment I'm between jobs. On the application, what should I put for income and employment? I'm thinking putting that I'm unemployed and having no income might get me denied credit. Should I say I'm self-employed? Give my last job info? I can put a reasonable household income on the app.

Thanks again.
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Re: Looking for low permanent CC transfer rates
Old 09-20-2006, 02:32 PM   #5
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Re: Looking for low permanent CC transfer rates

Quote:
Originally Posted by BigMoneyJim
OK, thanks. I found a card to apply for, but I have a connundrum.

At the moment I'm between jobs. On the application, what should I put for income and employment? I'm thinking putting that I'm unemployed and having no income might get me denied credit. Should I say I'm self-employed? Give my last job info? I can put a reasonable household income on the app.

Thanks again.
Yeah, put self-employed. I do (and I am) and it's never been verified.

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Re: Looking for low permanent CC transfer rates
Old 09-20-2006, 02:47 PM   #6
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Re: Looking for low permanent CC transfer rates

Quote:
Originally Posted by BigMoneyJim
At the moment I'm between jobs. On the application, what should I put for income and employment? I'm thinking putting that I'm unemployed and having no income might get me denied credit. Should I say I'm self-employed? Give my last job info? I can put a reasonable household income on the app.
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Re: Looking for low permanent CC transfer rates
Old 09-20-2006, 06:34 PM   #7
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Re: Looking for low permanent CC transfer rates

you could always just put "retired"......few are even checking for income and rather just base the decision on your credit history...
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Re: Looking for low permanent CC transfer rates
Old 09-23-2006, 08:53 PM   #8
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Re: Looking for low permanent CC transfer rates

I do not understand the acceptance rules at the CC
companies. Some seem to issue without much regard to your
history/status and others will turn you down for no particular
reason. I have been approved for large lines in the same week
as I was turned down flat on other apps.

An aside..........for much of this year, most of my personal income has come from interest on money from promo rate credit cards.
I peaked at $180,000 outstanding debt, which is falling now. I have no
perpetual promo rates. The longest expires in June, 2007.

JG
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Re: Looking for low permanent CC transfer rates
Old 09-24-2006, 03:08 AM   #9
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Re: Looking for low permanent CC transfer rates

Nords: good point.

I applied with "self employed" and a guessed household income. Shoot, I just realized I should have added what I made in the first 6 months of this year. Oh well. I got approved, but I don't know yet for how much. Should find out in a week or so when I get the card. The approval was very quick. I wonder if I actually have good credit now?

I'm not brave enough to try making money off the float and interest difference. Heck even at 3.99% transfer I could make money with a CD or ED. But my history tells me I'll miss a step here or there and wind up paying for it.
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