Saturday, December 20, 2008

Some more 0% APR Credit Card offers

Two weeks ago I blogged about opening an Advanta Business Credit Card with a 0% APR promotion. I explained how it can help raise your score and pay off debt. Please read that post first. Here are some more Credit Cards with 0% APR promotions. Please read the terms and conditions before applying, as they may have changed from when this was posted.

A word of caution on 0% APR on balance transfers: If you open a card with 0% APR on balance transfers, remember that you will still probably have a high APR on purchases. If you use the card for purchases, any money which you pay the credit card will be applied toward your 0% balance transfer, not towards your purchases! The credit card company will usually apply any money you send in towards the lower APR.

Remember, opening a 'no-name' card can have an advantage as explained
here.

Bank Atlantic Business Card
0% APR for 15 months.
3% balance transfer fee. The most you'll pay for the transfer though is $75.

Advanta Business Card
0% APR for 15 months.
3% balance transfer fee. The most you'll pay for the transfer though is $90.

Juniper Business Card
0% APR for 13 months.
3% balance transfer fee. The most you'll pay for the transfer though is $75.

Citi Business Card
0% APR for 12 months.
No fee for balance transfer.

Some notes about this Citi card:

If you are like me, and like to earn lots of signup bonuses from opening credit cards, and 'churn' the Citi AA card to get the 25,000 mile bonuses, then it might be better to get a non-Citi card (Juniper or Advanta), because these days, when credit card companies are becoming stricter, you don't want to give Citi any reason to close you down. Opening lots of cards plus taking out a large loan, might, and I say might, cause Citi to look closer at your account...

Another thing to note about the Citi Business Card, is that they offer 15,000 points after first purchase. If you want to get the points, it might be better to first buy something on the card, then pay off the bill, and then make the balance transfer. If you don't first pay for what you bought before making the balance transfer, then, as mentioned before, you will have to completely pay off the balance transfer before paying off the purchase. Another option might be buy something for $1, and then it won't be so bad even if you pay a high interest rate every month on that $1.

Personal Credit Cards:
Personal cards are sometimes easier to be approved for, but the debt will still show up on your credit report, which means that it isn't as good as a business credit card.

Citi Professional Card
0% APR for 12 months
No fee for balance transfer

ADA World Mastercard

0% APR for 12 months
No fee for balance transfer

US Bank Liniux
0% APR for 12 months
No fee for balance transfer

Make sure to read the Credit Education Series. It will help you understand what credit means and how to take control of your credit.

2 comments:

Anonymous said...

was this updated recently?

Shmuly - BuyRightSpendLess.com said...

No.
Check out this link at fatwallet, it should be updated there.

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