0% APR
I plan to finance about 50k of home improvements on my credit card. but id like to never pay interest. is there a startup that will automatically move my debt card to card to chase 0% apr offers?
No one is going to want to invest in a business model where your company can go belly up from one company’s policy change.
There is almost always a balance transfer fee of about 3%. So if you move your cc debt to a new 0 APR card every year you are still paying about 3% in fees. Also you need extremely good credit and high income to qualify for $50K CL on a new credit card every year. If you have that income you might as well just pay it off.
If your credit is good you can definitely find 12-16 month 0% apr cards, each with 3-5% balance transfer fees. You’ll probably need 3 of them though to get around 50k
I ran the math and 3% on a balance that will shrink is better than the home loan and HELOC rates I was quoted.
Math definitely makes sense. But your credit score will go for a toss because of your over utilization. That will stick with you for at least 2 years.
Nobody is going to do 0% on home improvements. The closest you’ll get is store offers like Home Depot to let them do your kitchen or whatever project.
Denmark has negative interest rate mortgages now. Check out zerohedge for details.
Chase will. It’s credit charges. Pay contractor on card.