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In a few months, I will want to get a new credit card that offers 0% APR for 12 months. Many offers say either 6 or 12. How do I know which I'll be getting? I'd rather not apply and find out I'm getting 6 months. At that point, I think it counts as an account and I'd have to keep it or cancel immeditely - neither of which is idea. |
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It all depends on your credit score. I can't be definitive on this, but a credit score above 750 and you have a good chance for the 12 month deal. Yep, most issuers offer "up to 12 months" more to protect themselves. If your credit is not solid, then the chances of a 12 month deal are slim. I'm not sure why you have an issue with getting 0% for only 6 months (I can only assume you are looking to do a balance transfer and figured that you'd rather pay the BT fee if it is 12 months). Unfortunately, you will never know for sure. But your credit score would be a pretty good indicator of the probability of getting a 12 month deal. The way most deal work is that you have to apply for the BT when you actually apply for the card so it can be a coin toss with regards to whether you get a 6 month or 12 month deal. You might actually want to check your credit score and even your credit report before you apply for a new card. Great answer Mr Credit Card. Please stop by anytime!
(Feb 16 at 04:29)
mbhunter ♦♦
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The offers are that vague? Wouldn't think they'd be that vague, but maybe. Websites I've seen making offers that say "up to 12 months" usually tell you to refer to the actual application for details. If the offer doesn't say explicitly, I suppose you can get someone on the horn and ask them. One thing that might work in your favor is the fact that credit card companies will - next week, actually - need to have their credit card agreements available online. Maybe that will need to be part of the disclosure. |
Very good question!