Posted by Chuck on October 11, 2018
Credit Cards

Published on October 11th, 2018 | by Chuck

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Various Chase Cards: 0% APR on Purchases through May [Targeted]

The Offer

Chase sent out an email to customers with a low APR offer on various Chase cards like Freedom, Sapphire, and United.

  • Get 0% APR on purchases made between November 1 and when your May statement closes.

The Fine Print

  • Requires activation. To be eligible for this promotional offer, you must log on to the website referenced in this promotion and enroll by 10/25/18 by 11:59 p.m. ET.
  • Promotional APR applies to all purchases that post to your account beginning November 1, 2018 through your billing cycle that ends in May 2019.
  • Afterwards, your standard Purchase APR above will apply to any remaining promotional balances and new purchases.

Our Verdict

It’s basically a free 6-month loan if you pay it down before the close of the May statement. Personally, I stay away from these offers on personal credit cards since it negatively impacts the credit score.

Not everyone got the 0% offer. I got 4.99% on Freedom and others got 1.99% or 7.99%.



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No email for me. Also didn’t see the promo under “your offers.”

Mine wasn’t there as well. I received the offers via email

I got 7.99% on Southwest RR Plus card.

I didn’t get 0% offer. On my Chase Freedom, the offer was 4.99%

Same.

I got the 0% APR offer through 12/2019 on all of my personal credit cards. 0% APR through 09/2019 for the CIP. However, they all come with a 4% balance transfer fee.
I didn’t get the promo offer on purchases yet.

I received one for 4.99% until July on my freedom unlimited.

Carrying a balance is a bad idea so I wouldn’t value these 0% promo offers.

Not if you’re smart about it and float a balance while your money earns interest in a high-yield savings account. I have a $20k credit limit on a card I have 15-months 0% interest on. I make sure I always have enough cash to cover the balance but it’s been making great returns saving that money and putting most of my spend on that card.

You’re right, but I wouldn’t float more than 30% of the CL as to not negatively impact your credit score from month to month. For a $20k CL the most I would float would be $6k while making minimum payments.

Serious question: what’s the big deal about credit score impact? Is this for people at the margins of good and bad? It really shouldn’t matter unless you’re trying to buy a house or something. I just don’t get the fuss over having your score drop 20 points or so. I took advantage of the amex everyday 0% BT fee and am floating $7500 making 2.5% on it, just paying minimum fee for 15 months, my score dropped a bit, big whoop.

*i own a house, car, and 780 credit score, maybe i’m out of touch with what other people are working with, but i’ve seen plenty of posts on here to know that there’s plenty of people doing way better than me

How did you liquidate the credit to cash that you could deposit in an interest bearing account? Write one of checks that comes with credit cards?

The main methods are to use one of the balance transfer checks (but be aware of BT fees), initiate a balance transfer at the time you open the account (also be aware of fees), or just run up a balance for new purchases using organic and/or manufactured spending.

I’ve used up the maximum on FIVE balance transfer checks (two Barclays, one Chase, one BoA, one Discover) and my FICO credit score only dropped to 741, although my FAKO on CreditKarma and Mint is in the low 600’s. No adverse action on the other providers either, like cutting my credit limit – in fact I still get BT checks from other banks (although my Citi offers have markedly been downgraded). When I did four BTs it was around 760. No telling how it will look when I take out my next BT check, which is probably be a 2% fee Discover since fees are going to go up as interest rates rise. It will cause issues if I am applying for another card, but I am waiting out 5/24 and had no other card I wanted to churn.

Does it negatively impact your credit score because you have a balance or because you miss payments or have late payments on your payment history?

You still need to pay the minimum payment each month with these offers. It’ll only affect your credit in terms of credit/debt ratio. If you have a low overall credit limit across all your cards and max this one out, it will temporarily affect your credit score until you pay it off, then it’ll jump back to normal.

@Clover It increases your utilization percentage which can lower your FICO score. You can read about what goes into calculating a FICO score on the myfico website https://www.myfico.com/credit-education

I did get this offer on my IHG Rewards Club Card (the old one). Came via email November 1st thru Billing Cycle ending in May.

Hey Chuck,

Just got an email from: Marriott Rewards® Premier Plus Credit Card with the subject: Earn up to 100K bonus points

Picture: https://imgur.com/a/9dqbOrM

It’s seems like Marriott referrals are back. Not sure if it’s targeted.

im always curious how exactly these banks target customers. I got the 0% promo on CFU but not CSP. No banking relationship with chase, these two CC are only products of theirs I have. Never revolved a balance or given them any income beyond my CSP AF $95. Pretty low spend on both cards this year, around $3k each.

I’ve never had a need to revolve and a 0% promo doesn’t change that. Still I wonder, how do they target customers?

I’ve also been getting loads of these offers from Citi, for almost every one of my Citi credit cards. Promo is until May of 2019, either 0% or 1.99%. Each one is a targeted offer I’ve gotten a mailer for. I think all of my Citi AA cards and most of my Dividend cards have gotten an offer.

I got that one a few months ago on my Citi Mastercard and forgot about using it for the Plastiq promo until they dropped it to $250. Starting June it was 0% APR until January 1, 2019.

Does anyone have the subject line, or any other way I can look this up? I am searching everywhere to find an email and not seeing anything (although I’m trying to sort through hundreds of emails in the past few days…). Thanks!

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