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Money

0%

Posted on 2013.05.02 at 00:00
Current Location: 67114

Given the state of the economy (and the recent bailouts) I was not expecting to see 0% offers in my mail anytime soon. Color me surprised.

American Express offered me 0% for 15-months on new purchases, and a local bank here in Kansas offered me 0% for 12-months on transfers. Both with an APR at or below my current.

All bases covered :)

Comments:


raingirl26
raingirl26 at 2013-05-02 06:04 (UTC) (Link)
I too have been surprised. (Though do watch out for the upfront interest charge if you ever take advantage of this type of thing.)

I'm, unfortunately, playing the credit card game and really don't understand how this all works for them (and the economy).

p.s. Came across you through your cat post on lj_photophile.
ehowton
ehowton at 2013-05-02 15:14 (UTC) (Link)
Nice to meet you! Yeah, the balance xfer one is 3% which for me is ~$150 on an account which is accruing $50/mo interest. So it will have paid for itself after the first three months leaving me 9 months to put a dent in it :D I don't have any illusions of paying it off in that time, but by the time the 0% evaporates the principal should be negligible.
Michelle1963
michelle1963 at 2013-05-02 12:42 (UTC) (Link)
I suspect not everybody receives those offers - unlike before the bank crash. I would bet the credit card companies are targeting those with a high credit score for such offers.

The other market that gets targeted, are those with a recently declared bankruptcy - because they can't file bankruptcy again for a number of years. They do not, however, get 0%.

Getting your financial bases covered: priceless. Uh, er, except that's MasterCard..... :)
ehowton
ehowton at 2013-05-02 15:15 (UTC) (Link)
Correct as it turns out! I did a little reading on AMEX and they no longer allow people to apply for this particular card - its by invitation only. The back of the deadtree they sent me corroborated this matching your statement.
Jobu
jobu121 at 2013-05-02 14:00 (UTC) (Link)
I am not surprised at all. I have refinanced just about every card and loan. Also, picked up new floors and bedroom set that I do not have to payoff until 2016!

By then the Zombie apacolypes may be upon us. :)
ehowton
ehowton at 2013-05-02 15:16 (UTC) (Link)
Good for you! I am in the process of selling the house in Anna. You may remember your former co-worker Whack-A-Mole. His wife is my agent :)
Jobu
jobu121 at 2013-05-02 15:28 (UTC) (Link)
whack-a-mole escapes me??? Was that the retired army guy who sat across from you who left before me?
ehowton
ehowton at 2013-05-02 18:24 (UTC) (Link)
Nah, WINTEL puke sat on your row across from Beff.
ehowton
ehowton at 2013-05-02 15:17 (UTC) (Link)
And like you, I too judge what I can get away with before the Zombie Apocalypse. It makes a totally rational baseline!
Jobu
jobu121 at 2013-05-02 15:29 (UTC) (Link)
Yeah and my daughter (6 year old) already knows that the chain-saw is the best weapon against zombies, well when you run out of ammo. Her friend's mom lets them play left for dead :)
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