got a discover preapproval letter... 0 apr on balance transfer up til nov 2004 and no fee on the transfer.
HOw does a balance transfer work...
Say I purchase 10k of crap on a Citibank Visa, then transfer it to my 'new' discover card....
0 pct balance transfer fee.. fine
now i moved 10k debt from 1 card to another card...
next month, i get my discover card statement.... balance, 10k.
if i don't pay my 10,000 balance here, dont i suffer late fees etc each month?
Does Discover tag my account that this 10,000k is a transferred balance... and I DON't suffer any charges for it until Nov 2004? That is, late payment fees, finance charges?
And if I start using this card to buy otherstuff like $45, when I pay off the statement with $45, am I paying off the transferred balance , or the new purchase.
Could this possibly be a good deal.
Could I Credit Card Charge my mortgage (prepay 9months worth?)
HOw does a balance transfer work...
Say I purchase 10k of crap on a Citibank Visa, then transfer it to my 'new' discover card....
0 pct balance transfer fee.. fine
now i moved 10k debt from 1 card to another card...
next month, i get my discover card statement.... balance, 10k.
if i don't pay my 10,000 balance here, dont i suffer late fees etc each month?
Does Discover tag my account that this 10,000k is a transferred balance... and I DON't suffer any charges for it until Nov 2004? That is, late payment fees, finance charges?
And if I start using this card to buy otherstuff like $45, when I pay off the statement with $45, am I paying off the transferred balance , or the new purchase.
Could this possibly be a good deal.
Could I Credit Card Charge my mortgage (prepay 9months worth?)
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