Zero Percent Interest Credit Cards for Retirees!

[Marita40]

I’m looking at some big dental bills. Ugh. In my working days for large purchases I several times applied for and easily received zero percent interest credit cards for 12 or 15 months just to ease the pay off pain a bit. Just wondering if any such deals are available to retirees drawing money from investments? Hope this isn’t a stupid question! I have two credit cards to my name right now, and really only use one.

 

[Katsmeow]

I got an offer from my bank to apply for a credit card today that would be 0% for almost 2 years. I didn't apply for it and the small print was that it was subject to credit approval. The offer was based upon my credit report. They did ask for an income amount and whether you were employed, self employed, not employed or other. Go to Credit Karma and see what it says as to what card you might be likely to be approved for.

If you have existing credit cards, they may offer 0% balance transfer offers. However, these will have a fee, currently usually between 3% to 5% of the amount. If you get a new card the 0% period is usually fee free but involves getting a new card.

 

[jollystomper]

bankrate.com is one site to consider for relevant information. For example:

https://www.bankrate.com/finance/credit-cards/zero-interest/

The best 0 percent APR credit cards help you avoid interest for up to 15 months or longer, meaning you may not see any interest charges until up to June 2025. If you need as much time as possible, there are still a few cards with intro APR offers lasting up to 21 months — which may be wise to snap up sooner rather than later in case these periods shrink.

Though you’ll still need to make minimum payments, with the right strategy, they’re among the best tools to pay off past debt or cover emergency expenses. To find the right 0 percent APR card for you, check out our top picks and advice below.

 

[Marita40]

Thanks. I applied for one today but it is "pending." Funny how all those credit card offers dried up when I retired.
Someone told me about something called a Carecard designed for medical/dental expenses. Anyone hear anything about this?
I do pay off any card before interest is charged. Just looking for something to help me absorb these huge dental costs right now.

 

[Lawrencewendall]

We've been using carecredit for about 10 years for medical, dental and vet bills. The promotional period varies by the service provider. 4k of teeth implants had 12 months no interest, vet had 3 months.

 

[Fermion]

With some short term bond rates as high as 5.5%, does a 0% interest card make more sense than a cash back card maybe?

If you put $10,000 of purchases on a 0% card until 2025 and then invested that $10,000 you would have paid into 5.5% short term treasuries, it would be $550+ of net gain, vs 2% cash back only netting $200.

 

[foxcreek9]

If they take Discover card, double cash back for the year (2%), plus no interest for 15 months, plus if you click through this link an extra $100.

https://refer.discover.com/foxcreek9!b468e2ee07!a

 

[Sunset]

Thanks. I applied for one today but it is "pending." Funny how all those credit card offers dried up when I retired.
Someone told me about something called a Carecard designed for medical/dental expenses. Anyone hear anything about this?
I do pay off any card before interest is charged. Just looking for something to help me absorb these huge dental costs right now.

I just got 2 CC's recently.

I got the same pending thing from both and thought it meant rejected. Actually they sent me a letter to phone them and I read the letter confirmation number back and that was it for one of them, the other only asked to confirm what I had said for income on the application as well.

I think it is just their way to cut down on fraud. Ensures the mailing address is correct.

 

[SecondCor521]

Thanks. I applied for one today but it is "pending." Funny how all those credit card offers dried up when I retired.
Someone told me about something called a Carecard designed for medical/dental expenses. Anyone hear anything about this?
I do pay off any card before interest is charged. Just looking for something to help me absorb these huge dental costs right now.

I've opened 17 new credit cards since retiring. It's true I don't get offers any more, but I can easily find and apply for good cards via sites like Doctor of Credit.

The Care Credit card and information can be found at https://www.carecredit.com/howcarecreditworks/prospective.

There are probably several 0% on new purchases cards out there as another poster mentioned.

 

[homestead]

Apple is making Apple Pay Later available to all users in the United States, after initially releasing it to a limited number of users back in March. Apple Pay Later allows users to split the cost of an Apple Pay purchase into four equal payments over six weeks without interest or late fees.

Haven't used this but might be helpful.

Apple Pay Later

 

[Marita40]

I got approved for a 15 month 0% interest credit card, as well as the Care card. So that's what I needed. Onward to three potentially four dental implants!

 

[Amethyst]

I've been retired almost 10 years, and get several credit card offers a month. My problem is that the big expenses are for property taxes and, even more so, for contractors, who charge a fee for using a credit card.

 

[MarieIG]

I've been retired almost 10 years, and get several credit card offers a month. My problem is that the big expenses are for property taxes and, even more so, for contractors, who charge a fee for using a credit card.

Yep. I am not paying extra on my property taxes for the "convenience" of using a credit card.

 

[old medic]

I got approved for a 15 month 0% interest credit card, as well as the Care card. So that's what I needed. Onward to three potentially four dental implants!

Good to hear. We just got a Citi card, 0% for 18Months on purchases and transfers, Plus $200 credit if we use it for $500 in purchases in 3 months.