Posted by
Mississippi St. Fan
Member since Jul 2012
1653 posts

Credit Card 0% introductory rates
I have seen that most credit cards will offer 12-18 months 0% APR on purchases and balance transfers when you first sign up for the card. After that if you want to transfer a balance you will usually have to pay a 3% fee on the balance of the transfer with 0% APR for a year or so.

Do you think it would be possible to cancel your card, wait a little while, and just reopen one of the cards to get the introductory 0% on all purchases and balance transfers? (I'm trying to avoid paying any kind of percentage on a balance transfer that I have been kicking from card to card for a couple of years...)

New Orleans
Member since Nov 2007
1099 posts

re: Credit Card 0% introductory rates
Probably not. Once you cancel a card it's cancelled. You would have to open a new account which should qualify for the 0% but it would show as an additional credit account on your credit report which could hurt your credit score.

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R.I.P. Yellowfin
Member since Dec 2007
44374 posts

re: Credit Card 0% introductory rates
You can get around the 3% charge by just charging what you normally would on the New card and paying off the old card

But You should never keep a balance unless you have a 0% rate anyway

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