Credit Tips: Offer for 0% APR for Life with Discover

Posted On: November 1, 2005

Author: outofgum
Posted: Tue Apr 20, 2004 9:49 pm
Post subject: Offer for 0% APR for Life with Discover

I got an offer in the mail for the discover card with a 0% apr on balance transfers for life. The catch is that you have to make at least 2 purchases a month. Since any money paid goes to the lowest apr debt first, you pay debt on the purchases you make until you pay off the entire amount.

For my question: Is there a minimum purchase amount? I read through the fine print carefully, but there’s a chance that I missed something. It would be great if I could buy say… 2 packs of gum a month. I’d be paying ~$1.50 a year in interest… I could handle that.

Any responses or advice would be appreciated. Thanks!

Author: mouse
Posted: Wed Apr 21, 2004 12:49 am
Post subject: Offer for 0% APR for Life with Discover

For my question: Is there a minimum purchase amount? I read through the fine print carefully, but there’s a chance that I missed something. It would be great if I could buy say… 2 packs of gum a month. I’d be paying ~$1.50 a year in interest… I could handle that.

Any responses or advice would be appreciated. Thanks!

$1.00 or $2.00 min interest?

Compounded with no payments against it

At like 14%

Author: Board Monitor
Posted: Wed Apr 21, 2004 8:09 am
Post subject: Offer for 0% APR for Life with Discover

Didn’t know they were still sending this offers out! This has been going on for a year or so. Anyway, many consumers have used the strategy you are suggesting effectively. If you are transferring a rather large balance, your interest savings could be considerable. Let us know how it turns out.
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com (501) 663-0314

Author: outofgum
Posted: Wed Apr 21, 2004 12:23 pm
Post subject: Offer for 0% APR for Life with Discover

Yeah, I guess I’ll go for it. I got the offer about a month ago and its good till sometime in august. Its the platinum discover card. Hope I can still get it as I just applied and recieved a card, and American Express increased my credit limit… but they don’t really report to the credit bureaus, right?

Author: NightStar
Posted: Wed Apr 21, 2004 1:08 pm
Post subject: Offer for 0% APR for Life with Discover

Yes, American Express does report to all three of the credit reporting agencies.

Author: rasca13173
Posted: Tue Apr 27, 2004 4:24 pm
Post subject: Offer for 0% APR for Life with Discover

i have 0 % for life with discover.As far as i know this is the only credit card company that offers this deal. They charge me 50 cents for a 20000 dollar balance transfer,the catch if you can call it that, you have to make one purchase per month,it doesn’t matter what it is,a cup of coffe or a pack of gum. When i applied for the card the invitation stated 2 purchases,but i called and verified and they told me one purchase a month.If you are lucky enough to get this deal make sure you don’t charge anythind expensive on the card because you are going to be paying a higher interest. i charged a 30 dollar item and they charged me 51 cents lol…..Also make sure you pay at least the minimum payment each month, if you miss a payment or forget to charge an item all bets are offf……i don’t keep this card in my wallet and as soon as i get a statement i send the check and go out and charge an item……If they offer you this deal take advantage of it, one more thing they waived the balance transfer fee with my offer…..My wife just got the same offer in the mail but they are going to charge her a balance transfer fee of 50 dollars i believe…..but its worth it if you can juggle your other cards with this one……….good luck