Curret Canadian Great Credit Card Offers?
October 28, 2008 6:39 PM   Subscribe

I'm living in BC and and have a money on a credit card that is at around 15%. Every once in a while I hear about some offer that they will transfer your debt and give you 0% or really low interest for a year or something. Any good offers out there right now??? Thank you!
posted by figTree to Work & Money (4 answers total)
 
If you qualify for such things, you'll usually see them in the mail.

If you don't need to use that credit card, you may be better doing debt management.
posted by k8t at 6:44 PM on October 28, 2008


A word of warning about those offers: most balance transfers, even where the interest doesn't kick in immediately for some promotional period, come with a fee at some fixed percentage of the transfer. Then the interest rate usually goes up to far more than on your current card. 15% is really not bad for consumer credit. 27% is not unheard of.

If you can pay off the entire balance within the promotional period, and if the transfer fee is lower than your current interest rate (which it usually is by a significant amount) by all means, go for it. But if you're just looking for a year with no interest, don't bother. They'll get you in the end.
posted by valkyryn at 6:46 PM on October 28, 2008 [1 favorite]


As valkyryn says, be careful about the fine print.

Back when credit was plentiful, I received an offer for (and applied for) a 6.99% card that includes a "no rate increases ever if you pay on time" condition. I won't be giving that one up any time soon.
posted by lowlife at 6:55 PM on October 28, 2008


MBNA and Citi both currently have 0% deals on balance transfers, see this thread on RFD for details and current low interest offers that are out there for Canadians: http://www.redflagdeals.com/forums/showthread.php?t=352003

I personally used a 0% citi card to consolidate some debt and pay it off over 12 months with no interest, sweet deal.
posted by RedMosquito at 7:30 PM on October 28, 2008


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