0% Credit Card Interest Gimmicks and Promotions

Posted On: March 21, 2007

Author: binciong
Posted: Tue Oct 17, 2006 8:32 am
Post subject: Monthly Automatic Charge of $1?

I have a balance on a Discover card that carries 0% interest as long as there is at least one dollar charged every billing period.

Right now I pump one buck of gas each month but I’m capable of forgetting and then rates would jump way way up I’m sure.

Can anyone suggest a way to charge $1 per month on an automatic basis? It could even be a charity donation though I haven’t found anything that would work yet.

Why not just schedule a normal bill like telephone, gas or cable and add that amount to your regular monthly payment?

Something like a utility bill is ok, but the larger the monthly charge the more undesirable it is. Because account payments are credited to the promotional balance, new charges will build and attract interest at the current rate for purchases on the cumulative balance. Odds are that this is a relatively undesirable rate.

To best take advantage of this offer, monthly purchases should be small. If you have a modest monthly bill that can automatically be charged to a credit card (a $15 Netflix subscription, for example) then you have a decently reasonable option. Brammy’s suggested charges may fit this profile (for me, these are all $100+/mo charges).

Otherwise, your best bet is to continue to charge a small monthly purchase as you are presently.

There is has been several threads on Fatwallet on this….look at the boa keep the change threads……and there is some “bt for life deal” threads..

I personally havent used these and prefer to straight bt’s and just apply for more periodically….

I have had one of these for life offers for several months and just charge like a buck a month using a automatic Paypal subcription. No work on my part whatsoever! I Love Discover!
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