Seeking Long-Term 0% Interest Credit Card Balance Transfer Options of More than 28 Months

welcomeUniverseWorld on 24/05/2024 - 21:17
Last edited 25/05/2024 - 09:31 by 1 other user

I have a $7,000 credit card debt on a high-interest credit card.

I have another credit card from NAB where I have parked $9,000 at 0% interest for 28 months. My plan is to pay off the NAB card within 28 months.

I am wondering which credit card balance transfer would allow me to transfer this $7,000 with the longest possible 0% interest period, preferably 28+ months, and possibly with zero annual fees. I am really interested in a balance transfer for the longest amount of time.

Is there any credit card with more than 28 month balance transfer offer?

• 

  Wiadro on 24/05/2024 - 21:31

  +1

  1% fee here 18m though
  https://koganmoney.com.au/credit-cards/balance-transfer-offe…

• 

  WoodYouLikeSomeCash on 24/05/2024 - 21:44

  +5

  Don’t spend more than you can afford 🤦

  • 

    payless69 on 25/05/2024 - 07:10

    Be a comrade: Spend the money of others!

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  stirlo on 25/05/2024 - 06:34

  +1

  28 months is already a massive length to get a balance transfer offer for. Most are 12-18. If you can get 28 take it now.

  And pay off your debts, don't spend beyond your means.

  • 

    Eeples on 25/05/2024 - 12:20

    Too late.

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  randomusername2017 on 25/05/2024 - 07:09

  +1

  Virgin Velocity - 24 months, no BT fee, no fee first year and $129 flight credit.

• 

  Dollar General on 25/05/2024 - 07:10

  +1

  Doubt you will find one with no fees. Cost of capital means they will at least charge a balance transfer fee

• 

  Eeples on 25/05/2024 - 12:20

  Goto finder and choose balance transfer cards.

  Put in $7000 and your current high interest credit card rate.

• 

  brendanm on 25/05/2024 - 15:19

  +1

  Cut up any and all credit cards you have access to. You can't use them.

  Edit - sell your Bitcoin and pay this crap off.

• 

  welcomeUniverseWorld on 25/05/2024 - 18:04

  Thank you all. I applied for a St. George Vertigo Visa Card with a $10,000 limit (0% interest on balance transfers for 28 months, with a one-time 1% balance transfer fee and a $55 annual fee) and got preapproved. Now, I'm waiting for the full decision and the probable transfer of $7,000 into it.

  This means I will have 0% interest on my debt for the next 28 months, which includes two credit cards. I now have two credit cards with 0% interest for 28 months. In total, I will be paying around $600 per month for the next 28 months. If I can maintain this, I will be able to get rid of the debt. Once that's done, I plan to cancel the cards.

  Yes, I do have some Bitcoins that could pay off this debt. However, I am holding onto them while paying off my credit cards with my salary. I know it sounds counterintuitive, but if I can pay off the cards, I might end up with value from the Bitcoin as well as learn to live within my means. This approach helps me change my daily habits, which I believe will benefit me in the long run. Two birds, one stone, perhaps?

  • 

    Eeples on 30/05/2024 - 11:32

    +1

    It’s a great idea to tap into these 0% balance transfer cards. Just be mindful of the annual fee and pay it.

    You probably should also avoid using the cards for purchases altogether especially recurrent purchases such as subscriptions to streaming services etc

    • 

      welcomeUniverseWorld on 01/06/2024 - 15:52

      Yes, that is a great idea. I have kept both cards separate so they are not used for anything. Additionally, I have set up my bank account to send regular fixed payments for the next 28 months to pay everything off.

  • 

    Hasu on 09/08/2024 - 22:37

    Hi Mate, how does the bank transfer the balance transfer amount? I was planning on buying a used car, how do i access the $ amount transfered by the bank? as they usually transfer the balance transfer amount to another credit card….

    • 

      welcomeUniverseWorld on 07/09/2024 - 14:15

      For me, it transferred the balance from one card to another. It did not transfer to my bank.

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  welcomeUniverseWorld on 25/05/2024 - 18:31

  Thank you all for your comments. I appreciate it.