increase in zero interest CC offers?

CFA General
#1

Has anyone else seen an increase in zero interest CC offers? I have and have been taking advantage, some for investing and some for my personal business (for long term buy products…which most are)…but it is strange all of a sudden I am getting 15 month, zero fee, zero interest transfer offers. Anyone else?

#2

I just received a 0% CC offer from Washington Mutual, I was thinking about it…ok wait, I can’t anymore.

#3

take 0% and then default…

#4

Yeah, its pretty bad when you’re more worried about the card issuer’s credit than the card issuer is worried about yours.

#5

HAHA, good point. The last two offers I got was through Chase, so should be OK. I usually do these every now and then for my business, but this is the best offer I have had in a while. I need to see how much they approved me up to…

#6

I do the same thing, but I have found the credit limits getting smaller. In truth, it is okay, because I’m inclined to wind down the practice - not sure it’s worth my time to arbitrage the interest rates on $40,000.

#7

I usually do $20-40K for my business and over (usually in same ballpark) that I take it out for a little more risky yields (in some cases MLP’s, Real Estate, etc). Then fund the gaps with another side business and my regular corp income. Agree, sometimes on time it isnt always worth it (the business stuff is, not sure on the other). But then, I do it while at work so it isnt like I give up much.

#8

I have been getting 0% offers from WAMU and others in last 2 weeks!! I was wondering about it.

#9

I have a friend in med school who took her $$ and put it in a MM fund and figured she could make some interest until she graduated and then she would pay off the loans (a lil arbitrage for a med student… not bad). but then last week that MM fund broke the buck, and she got nervous. If the fed hadn’t “guaranteed” the MM funds, then she would’ve taken her money out and just paid off the loan. Times are pretty bad when an “average jane doe” thinks that MM funds are too risky to invest it in.

#10

I didn’t think you could convert the loan balance to cash, without incurring some pretty huge fees.

#11

Some let you do the checks even without cash advance fee. Some you can pay to any account, even a bank account, with no fees…all depends.