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Question about CC balance transfer
Posted on 3/22/13 at 12:04 pm
Posted on 3/22/13 at 12:04 pm
Chase Slate is offering 0% APR on purchases and balance transfers until July 2014.
Some of the language reads: Your due date will be a minimum of 21 days after the close of each billing cycle. We will not charge you periodic interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on balance transfers, cash advances, and overdraft advances on the transaction date.
Does this mean that I will have to pay the balance on just new purchases or that if I don't pay the entire balance of my card I won't get the 0% APR.
Some of the language reads: Your due date will be a minimum of 21 days after the close of each billing cycle. We will not charge you periodic interest on purchases if you pay your entire balance by the due date each month. We will begin charging interest on balance transfers, cash advances, and overdraft advances on the transaction date.
Does this mean that I will have to pay the balance on just new purchases or that if I don't pay the entire balance of my card I won't get the 0% APR.
4
Posted on 3/22/13 at 12:13 pm to Rohan2Reed
I think once the expiration date hits, you will be charged interest on any remaining balance or transfer. Check transfer fees though.
Posted on 3/22/13 at 12:17 pm to Cajun Revolution
quote:
I think once the expiration date hits, you will be charged interest on any remaining balance or transfer. Check transfer fees though.
Fees: $0 Intro fee on transfers made within 60 days of account opening. After that: Either $5 or 3% of the amount of each transfer, whichever is greater.
my question on this:
quote:
We will not charge you periodic interest on purchases if you pay your entire balance by the due date each month.
..is basically: does that mean no interest charged if I pay off the entire balance of the card (not what I'm looking to do, obviously) or no interest charged if I pay off my monthly minimum?
Posted on 3/22/13 at 12:22 pm to Rohan2Reed
I would think it's flat no interest period as long as you pay the minimum through the 2014 date.
The fine print you're quoting though would seem to be the same terms of any charge card. Pay the entire balance.
The fine print you're quoting though would seem to be the same terms of any charge card. Pay the entire balance.
This post was edited on 3/22/13 at 12:23 pm
Posted on 3/22/13 at 12:28 pm to Rohan2Reed
If you're going to use it for a balance transfer I wouldn't put anything new on it. I think any payments are usually applied to the "lower interest rate".
Posted on 3/22/13 at 12:48 pm to Rohan2Reed
No interest until July 2014 so long as you make the minimum payments. Usually the advice is to not make purchases at all but you have 0% APR on that too, so go right ahead.
Posted on 3/22/13 at 12:57 pm to Rohan2Reed
What did Chase say about it when you called the 1-800 customer service number?
Posted on 3/22/13 at 1:17 pm to LSURussian
Haven't called them .. wanted to utilize my resources here first. 
Posted on 3/22/13 at 2:01 pm to Rohan2Reed
I understand, but regardless what any of us tell you it means, Chase will determine what it means. I'd call them if I were you before I open a CC with them if that clause is important to you.
Posted on 3/22/13 at 2:20 pm to TigerDeBaiter
quote:
If you're going to use it for a balance transfer I wouldn't put anything new on it.
This
Posted on 3/22/13 at 4:03 pm to BACONisMEATcandy
thanks y'all I'm going to call Chase and clarify everything. glad I now have a little prerequisite knowledge about it.
Posted on 3/23/13 at 8:04 am to Rohan2Reed
I would also put an even amount on the card and pay off an even amount. That way if you do pay any interest for breaking a rule you'll know
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