Balance Transfer From Cc To Checking Act

[apparao123]

hi,

i had a promotional offer of 0% apr on balance transfer and 12% apr after promotional offer ..ie June 2014......................


i have done balance transfer from CC to my checking act and used it.................



does the promotional offer mean that there will b no interest on this money til next june...???

[bio]

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[apparao123]

????

[Piscop]

Yes.

[jathin]

[quote name='apparao123' timestamp='1373936336' post='1303956238']
hi,

i had a promotional offer of 0% apr on balance transfer and 12% apr after promotional offer ..ie June 2014......................


i have done balance transfer from CC to my checking act and used it.................



does the promotional offer mean that there will b no interest on this money til next june...???
[/quote]

Usually there would be a 4% balance transfer fee for each transaction (Say you have a credit limit of $50 and you decide to make a balance tarnsfer for $10K - you pay $400 balance transfer fee. And after few months if you decide to make another transaction $10K you pay another $400.

But apart from this balance transfer fees, there would be no hidden fees/no APR for the promised 12 months.
It is also worth mentioning about monthly min payments. Every month you need to make the minimum payments in time - if NOT - you would void this promotional offer and you regular APR will kick-in the next consecutive months including the APR for already past min due paid months as well.
I would recommend you to configure monthly payments to CC with little more than your monthly payment.

[apparao123]

[quote name='jathin' timestamp='1373996025' post='1303959615']

Usually there would be a 4% balance transfer fee for each transaction (Say you have a credit limit of $50 and you decide to make a balance tarnsfer for $10K - you pay $400 balance transfer fee. And after few months if you decide to make another transaction $10K you pay another $400.

But apart from this balance transfer fees, there would be no hidden fees/no APR for the promised 12 months.
It is also worth mentioning about monthly min payments. Every month you need to make the minimum payments in time - if NOT - you would void this promotional offer and you regular APR will kick-in the next consecutive months including the APR for already past min due paid months as well.
I would recommend you to configure monthly payments to CC with little more than your monthly payment.
[/quote]


thanks......wi\