IYO: What does this mean to you?

[SMILESFRSD]

I got this cc offer 0% for life on balance transers

0% for life on balance transers-give yourself a break from interest charges. Get 0% APR on balance transfers for 8 months, then simply make two purchases or cash transactions each month starting in March 2008 with you --- card and you'll pay no interest for the life of the balance!

I'm not clear, will the 0% rate go to the 2 purchases I make a month, also, or just the balance transfer. If it's just on the transfers, then then It'll take me a ton of time to pay of the purchases, because monthly payments, are applied to lower interst rates 1st.

What are you understanding from this?

[dcompton]

I had to read through it twice -- your interpretation too, but I would guess you're right. And I'll bet they're hoping those are two BIG purchases each month!

[SMILESFRSD]

The wording is kind of tricky. I'm sure it's meant to be that way. I better not. Thanks for your opinion.

[Telephus44]

My interpretation - you get 0% on the balance transfer only. Then you have to charge two additional items per month and you'll pay a different (read: MUCH higher) interest rate on the purchases. I'm almost certain this is the case, because that's how just about every other balance transfer deal I've read the fine print for works.

The next question becomes - when you send in your monthly payment, do they put it against your balance transfer so that your two new purchases continue to rack up the interest charges? That's the next question to ask.

I'd call and talk to the CC company before signing up for this one!

[kittykatstrong]

My interpretation - you get 0% on the balance transfer only. Then you have to charge two additional items per month and you'll pay a different (read: MUCH higher) interest rate on the purchases. I'm almost certain this is the case, because that's how just about every other balance transfer deal I've read the fine print for works.

The next question becomes - when you send in your monthly payment, do they put it against your balance transfer so that your two new purchases continue to rack up the interest charges? That's the next question to ask.

I'd call and talk to the CC company before signing up for this one!

That was my question aswell. I bet your payments would go to the 0% first.

Katy

[Jenna]

Is there a limit on the purchases you have to make starting in March? Could you, say, charge a 25 cent pack of gum?

[SMILESFRSD]

Yes, payment will be applied to the 0%, which is the lower interest rate. That I did understand clearly. So making me buy 2 purchases p/month just allows them to make money.

[Spark]

It means "We have to start doubletalking to get anymore cash out of you!" Credit cards. Of the debil.