Should I accept this Chase (Amazon card) credit card promotion?
Just a college student getting by and the 0% recently ended on my Chase Amazon credit card. I have a balance of about $600 and probably around a 21% APR on this card.
I have other bills to tend too and I don't wanna pay too much interest. Nevertheless I received an offer from Chase which seems interesting.
"...Use the bottom three checks before 4/30/08 and receive a low promotional 4.99% APR until the balance is paid off"
Checks can be used on anything and each check comes with a 3% fee, which will total about $15 if I use them. Other than that, I don't see any other tricks or hidden fees. I would have a 4.99% APR card until its paid off, right? And what about future purchaes? Still apply to 4.99%?
What do you think?
I actually work for Chase bank. If the offer is for a FIXED rate of 4.99% and you plan on making the minimum purchases you should definitely pay off any high interest cards. You will save money in the long run. Just realize though that the 16% interest difference, plus the fees on such a small balance, your savings will be minimal. You may want to look at the other benefits the cards offer other than rate. However, if you were able to get a 0% card in the past, you may be able to find another 0% for 6 or 12 months card. The go to rates for these cards will be higher than 4.99% though. Good luck
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