Question
Another Ft'er Free Lunch intially posted the following thread:
http://www.flyertalk.com/forum/Forum1/HTML/008992.html
I actually do recall the article appearing on July 1. Unfortunately, I misplaced the article and even though I am an on line subscriber I can only access WSJ for past 30 days.
Has anyonre done this offer?
What's the catch?
Is it as stright foward as it seems?
Is it still the offer still available?
Can someone post the full WSJ article of 1 July?
Perhaps we can compile a comprehensive list of issuers who are currently offering FREE MONEY for life.
[This message has been edited by writetorich (edited 08-16-2003).]
Answer
Originally posted by writetorich:
Another Ft'er Free Lunch intially posted the following thread:
http://www.flyertalk.com/forum/Forum1/HTML/008992.html
I actually do recall the article appearing on July 1. Unfortunately, I misplaced the article and even though I am an on line subscriber I can only access WSJ for past 30 days.
Has anyonre done this offer?
What's the catch?
Is it as stright foward as it seems?
Is it still the offer still available?
Can someone post the full WSJ article of 1 July?
Perhaps we can compile a comprehensive list of issuers who are currently offering FREE MONEY for life.
[This message has been edited by writetorich (edited 08-16-2003).]
I'm not quite sure what you're asking. The bulk of the article is quoted in the very thread you linked to!
(Also, many libraries in your area should have back issues of the WSJ which you could photocopy the article from.)
Next, the thread mentions the catches! The straighforward ones are targeted and by invitation only. (Ie, a list of issuers won't do you much good in those cases.)
The open to anyone ones (like Discover) require you to do things which cost you more than you're saving (like making purchases that DON'T qualify for 0% on the same card regularly, and of course all the payments you then make don't pay off those new purchases first, they pay off your 0% first). So they're basically scams to make you THINK that you're getting something for nothing (for those who don't bother reading fine print).
Finally, none of these cards offer you free omoney for life. They require minimum payments. And the offers are available for a limited time. So it's at best free money for the life of the loan (ie, until you pay it off with your monthly payments).
(And, of course, the interest rate shoots up from 0% to double digits if you ever are late with a payment, etc.)
The best I've seen personally are one-year 0% balance transfer offers I've gotten myself (and those were definitely targeted, and some had high balance transfer fees btw).
Answer
I've gotten 1.9% for the life of the balance transferred with Capital One. With a 2% minimum monthly payment the half life of the balance from any point in time is 32 months.