Capital One just sent me 0% interest on balance transfers w/a 3% transaction fee

[Logan]

I'll be 4 years out of Ch 7 this month and have had my CapOne card for about 3.5 years and they just sent me this offer. I find this interesting because my wife who has excellent credit gets these offer daily from her CC's but I have never been offered anything other than the ongoing rates until now.
Does this mean anything? I don't know but 4 years out I have a 716 mid FICO and my credit is looking up!!!

Logan

Just posting my experience so everyone knows what to expect.

[iswmle]

That's a pretty nice offer, similar to what USAA currently has. Right now for their affiliate cards USAA is doing a 0% interest (1 year) on BTs' with a fee of 3% or $75, whichever is less.

One year out of BK I get almost no cc offers. Ahh well, I am pretty happy with what I have.

[Logan]

That's a pretty nice offer, similar to what USAA currently has. Right now for their affiliate cards USAA is doing a 0% interest (1 year) on BTs' with a fee of 3% or $75, whichever is less.

One year out of BK I get almost no cc offers. Ahh well, I am pretty happy with what I have.

It took 4 years for this offer and I was surprised to see it.

[msm859]

A 3% transaction fee could end up being a high interest rate if you pay it off quickly. And what they are banking on is for you to be carrying a balance once the 0% rate ends and then charge you a high rate.

[Logan]

A 3% transaction fee could end up being a high interest rate if you pay it off quickly. And what they are banking on is for you to be carrying a balance once the 0% rate ends and then charge you a high rate.

You are correct. I'm not going to use it but this is the type of offer my wife gets daily and she has an 800 FICO score. I have had offers from CapOne, Chase and Barclay's but they were all at the prevailing interest rate so I was surprised to see this offer.

[JackBondLove]

I used to apply for all those balance transfer specials ... In 17 years I got into hock up to $140K with those babies (although now that I think about it, since that all got discharged, maybe in retrospect it was good thing?)

[Flamingo]

You are correct. I'm not going to use it but this is the type of offer my wife gets daily and she has an 800 FICO score. I have had offers from CapOne, Chase and Barclay's but they were all at the prevailing interest rate so I was surprised to see this offer.

Please note that many people get these offers whether they qualify or not - no one is approved until they apply and are accepted. Any credit card, no matter what the interest or balance transfer fee or check fee, is still a credit card. If one's name is on any mailing list one may get offers from all sorts of places - we find it interesting how we were bombarded for years (and still are) with all sorts of credit card offers, even via phone by the banks that have our checking and present Mastercard and Visa. We only opened a few cards after discharge and keep them at zero or very little balance. Once you pay one off or not use it for a while, the phone calls start and the offers in the mail start - they just want people to apply for and use their credit because that is how they make money... Read the fine print on all those offers...

[mountanddo]

Please note that many people get these offers whether they qualify or not - no one is approved until they apply and are accepted. Any credit card, no matter what the interest or balance transfer fee or check fee, is still a credit card. If one's name is on any mailing list one may get offers from all sorts of places - we find it interesting how we were bombarded for years (and still are) with all sorts of credit card offers, even via phone by the banks that have our checking and present Mastercard and Visa. We only opened a few cards after discharge and keep them at zero or very little balance. Once you pay one off or not use it for a while, the phone calls start and the offers in the mail start - they just want people to apply for and use their credit because that is how they make money... Read the fine print on all those offers...

Yes, I get offers all the time about being pre-approved because my credit is so great. Considering my FICO is 581 and my 341 is tomorrow I highly doubt I'd ever get approved if I applied..which of course I'm not going to.

[Logan]

Please note that many people get these offers whether they qualify or not - no one is approved until they apply and are accepted. Any credit card, no matter what the interest or balance transfer fee or check fee, is still a credit card. If one's name is on any mailing list one may get offers from all sorts of places - we find it interesting how we were bombarded for years (and still are) with all sorts of credit card offers, even via phone by the banks that have our checking and present Mastercard and Visa. We only opened a few cards after discharge and keep them at zero or very little balance. Once you pay one off or not use it for a while, the phone calls start and the offers in the mail start - they just want people to apply for and use their credit because that is how they make money... Read the fine print on all those offers...

Flamingo, if you read the first post you would read that this offer is for my existing credit card.