We also received those, and actually used it for our 150 point add-on at BWV. We were going to take money out of our brokerage account to pay for the points, but when that offer came in the mail, it was too good to pass up!! For only a $150 fee, we now have the entire balance at 0% for life!!! Now, I can make more than $150 on that money in a year in the market!! Be careful with balance transfer checks, or any balance transfers in general. Sometimes, there are only promotional rates good for 6 - 12 months, not for life. Then you're stuck with a MUCH higer interest rate for a much longer period than the original DVC loan. Read the fine print carefully. Also, even though 3.99% looks better on paper than the 10% DVC is offering, remember that the interest DVC is charging isn't compounding, like a credit card. You get charged interest on the outstanding balance only, not the interest that has accumlated over the years, like a credit card. In the end, a 3.99% compounding interest rate might end up costing you more interest than a straight 10% interest rate. You'd have to compare the payments, and interest accumlated over the life of the loan. Also, most credit card companies usually require a 2% - 3% minimum payment on all promotional balance transfers. This might be a MUCH larger payment that you were looking at with DVC financing.
Yes, on Discover there are MANY conditions to be met, why we didn't go with them. AFter the promotional period expires, you have to make a minimum of two purchases per month, or the promotional rate expires, no warning. The Chase offer is 0% for life on balance transfers over $8,000 with a $150 fee. That's it, no other catches. It truly is the best deal out there, but I believe you have to have EXCELLENT credit to qualify. We received the offer in the mail, and there is no mention of it on their website, or if you call them directly.
I don't have a Chase CC but I'm going to apply for one now 
We use Discover card at Sam's Club and we go at least twice a month so that's not a big deal for us but there is a minimum monthly payment and you can't be late on your payment, ever! Or no more 0%. 
Also realize that's how Discover gets you. Since all credit cards apply all payments to "promotional" balances first, all your new purchases will be getting charged interest, usually a high rate too. If you do decide to get the Discover deal, only use it for VERY small purchases, since the amount of the purchase doesn't matter, just that you do two transactions. When DH and I thought of using that one, we were going to use the self check-out at the grocery store and buy two packs of gum, separately to get the two transactions per month to hold down those interest charges. Luckily for us the Chase deal came along, and for $150 we have the entire balance of our add-on at 0%. So much better than using my own money!!!!Originally posted by tamu91
Wow! 0% APR offer with no strings attached, other than the $150 transaction fee
I thought Discover was a pretty decent deal
If I am reading this correct that means that you get charge interest on the balance under $8000. I had one of these offered and turned it down because that was exactly how it worked. Interest under the 8 grand was 6.99%
If you already have the card sign up for online account access. Any balance transfer offer they have for your card will show on the account opions drop down.
Nope, the balance transfer has to be greater than $8,000 to qualify for the 0% rate for the total balance. There actually was a tiered system to figure out what your rate was, and it all depended on the amount of your balance transfer. If you transfered less than $5,000, your " for life" rate is 2.9%. If you transferred at least $5,000 but less than $8,000, your "for life" rate was 1.9%. Anything with a total over $8,000 was 0% for life, no catches. Trust me, DH and I are both CPA's and talked this over between ourselves, read ALL the fine print, and even went over it with a representive. It is as good as it seems!!! I actually have the cardmember agreement in front of me, and it clearly states Balance transfers greater or equal to $8,000 are charged a 0% interest rate until paid in full.
I know, hence why DH and I used it to "finance" our add-on instead of withdrawing funds from our brokerage account. I'm going to make MUCH more leaving the money in my account than the measly $150 fee they charged me to process the transfer.
My last post didn't even make sense to me. Ignore please, I am obviously up too late with too many numbers running through my brain. To rephrase, on a convenience check or a balance transfer, what is the term or the life of the note? Thanks!
It truly depends on the offer. It can only be as good as a few months, or you can get for life checks. You have to scan the offer carefully to make sure there are no catches.Originally posted by boysmom123
