CitiDividend AmEx Credit Card with 0% Balance Transfer
Guest: JoyJoy
Post subject: CitiDividend AmEx Credit Card with 0% Balance Transfer
Posted: Thu Mar 30, 2006 7:57 pm
Ok hubby has a question.
He will receive this CitiDividend card any day and the terms are:
0% APR on balance transfers until 4/1/07. Plus, you'll receive 3 bonus months at 0% on balance transfers until 7/1/07 if you make a balance transfer and $100.00 in purchases that post to your account and are not returned within 3 months of becoming a cardmember. As a responsible lender, we want you to know that this 0% APR offer applies to transfers, not purchases and cash advances. This 0% APR may increase if you default under any Card Agreement that you have with us or fail to make payments to another creditor whendue. Your payments will be applied to low APR balances before higher ones. For further information, please see the back of this letter for Citibank Disclosures which include how we may change rates, fees and terms of your account."
His question is should he charge $100.00 to the card first, pay it off when he receives the statement and then do a balance transfer?
_________________
J~J
"You may never know what results come from your action. But if you do nothing, there will be no result." Mahatma Gandhi
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: maddybeagle
Credit Expert (100+ Posts)
Posted: Thu Mar 30, 2006 8:48 pm
Quote:
His question is should he charge $100.00 to the card first, pay it off when he receives the statement and then do a balance transfer?
yes do that. I have a citi diamond card with a 100 bonus that came today and plan to do the same thing. Citibank is good for "banking" bt offers to use a little latter.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Mar 31, 2006 1:30 am
He should charge $100 to the card and pay it off the same day, then do the transfer. No need to wait for the statement closing date. Just make sure the online balance is 0 when the transfer hits the account.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: maddybeagle
Credit Expert (100+ Posts)
Posted: Fri Mar 31, 2006 7:42 am
OP, was this in the original offer (for 3 addtional months). I looked at citi's terms on this card and is typical of their other cards to start the clock at the bt:
"Balance transfer APR: As long as first balance transfer is completed within 12 months from date of account opening, 0.00% for 12 months from date of first balance transfer."
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: JoyJoy
Posted: Fri Mar 31, 2006 12:56 pm
[quote="Polonius"]He should charge $100 to the card and pay it off the same day, then do the transfer. No need to wait for the statement closing date. Just make sure the online balance is 0 when the transfer hits the account.[/quote]
Thanks Polonius. Hubby asked me why he had to wait until the statement date too since we're paying our bills online now.
_________________
J~J
"You may never know what results come from your action. But if you do nothing, there will be no result." Mahatma Gandhi
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: CitiDividend AmEx Credit Card with 0% Balance Transfer
Posted: Thu Mar 30, 2006 7:57 pm
Ok hubby has a question.
He will receive this CitiDividend card any day and the terms are:
0% APR on balance transfers until 4/1/07. Plus, you'll receive 3 bonus months at 0% on balance transfers until 7/1/07 if you make a balance transfer and $100.00 in purchases that post to your account and are not returned within 3 months of becoming a cardmember. As a responsible lender, we want you to know that this 0% APR offer applies to transfers, not purchases and cash advances. This 0% APR may increase if you default under any Card Agreement that you have with us or fail to make payments to another creditor whendue. Your payments will be applied to low APR balances before higher ones. For further information, please see the back of this letter for Citibank Disclosures which include how we may change rates, fees and terms of your account."
His question is should he charge $100.00 to the card first, pay it off when he receives the statement and then do a balance transfer?
_________________
J~J
"You may never know what results come from your action. But if you do nothing, there will be no result." Mahatma Gandhi
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: maddybeagle
Credit Expert (100+ Posts)
Posted: Thu Mar 30, 2006 8:48 pm
Quote:
His question is should he charge $100.00 to the card first, pay it off when he receives the statement and then do a balance transfer?
yes do that. I have a citi diamond card with a 100 bonus that came today and plan to do the same thing. Citibank is good for "banking" bt offers to use a little latter.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Mar 31, 2006 1:30 am
He should charge $100 to the card and pay it off the same day, then do the transfer. No need to wait for the statement closing date. Just make sure the online balance is 0 when the transfer hits the account.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: maddybeagle
Credit Expert (100+ Posts)
Posted: Fri Mar 31, 2006 7:42 am
OP, was this in the original offer (for 3 addtional months). I looked at citi's terms on this card and is typical of their other cards to start the clock at the bt:
"Balance transfer APR: As long as first balance transfer is completed within 12 months from date of account opening, 0.00% for 12 months from date of first balance transfer."
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: JoyJoy
Posted: Fri Mar 31, 2006 12:56 pm
[quote="Polonius"]He should charge $100 to the card and pay it off the same day, then do the transfer. No need to wait for the statement closing date. Just make sure the online balance is 0 when the transfer hits the account.[/quote]
Thanks Polonius. Hubby asked me why he had to wait until the statement date too since we're paying our bills online now.
_________________
J~J
"You may never know what results come from your action. But if you do nothing, there will be no result." Mahatma Gandhi
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 4:00 PM
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