Quote from pazgb : Today I called Citibank and tried to close my credit card account and they offered a balance transfer rate of 1.99 for the life of the transfer. This would be good if you have a huge balance you have to transfer.

Thanks for the heads up. Will call them to check on this.

It is definitely YMMV, because i am getting 6.9% for 6 months.

2 weeks ago I haggled with the regular CSR's, and their manager, and the best they'd offer me was 6.9%, which is a crock. So, I told them I wanted to be immediately transferred to their Customer Retention department and threatened to cancel my account, at which point I was offered 0% for 1 year, or 1.99% for the life of the balance transfer. So, it's definitely not a myth. if you do the balance transfer, make sure you read the fine print on future purchases. They'll be at your normal rate, but when you make payments, the payment goes entirely towards the low rate balance transfer until it's gone, that way the high rate purchases stay on your card in the background.

The Kev Master got a 2.99% for life from his Diamond Card while The April Mistress' Platinum came with a 3.99% for life.

I did this with both of my Citicards at 1.9%. They have now been transferred and taken over by MBNA (credit Satan), and they are still honoring the rate.

Quote from pazgb : Today I called Citibank and tried to close my credit card account and they offered a balance transfer rate of 1.99 for the life of the transfer. This would be good if you have a huge balance you have to transfer.

Thanks OP. I will call them to get 1.99... that would really help to reduce my second mortgage payments.

is the transfer fee of $50 max get waived for the balance transfer?

Quote from hokiehi : if you do the balance transfer, make sure you read the fine print on future purchases. They'll be at your normal rate, but when you make payments, the payment goes entirely towards the low rate balance transfer until it's gone, that way the high rate purchases stay on your card in the background.

This may be obvious to some folks, but maybe not to others-- hokiehi, I'm not directing this to you.

Don't use the same card for purchases if you are carrying a balance on it (e.g. from a balance transfer). Use a separate card for purchases so you can pay it in full monthly and avoid any finance charges.

Quote from Frontierboy : is the transfer fee of $50 max get waived for the balance transfer?

Even if it isn't, you can quickly recover the $50 in the extra savings of a low rate such as 1.9%. Even compared with a 7-8% mortgage (the interest on which is probably tax-deductible), you will save significantly.

They are mailing 0% life of transfer offers to new signers. I just through one out. But I thought there was a transfer fee.

Do you have to do 2 purchases a mth like in Discover?

i just got checks from my capital one card, offering 1.9% for the life of the transfer, same thing though up to 50 fee, definately a good deal

I got 0.0% for the life of the balance on citi dividend about over a year ago. I'm just paying the minimum each month, hehehe.