The folks at Citi have decided to increase the APR on my new Forward card to 36% (currently 0% for 6 months). The PremierPass remains the same, around 15%. 36% APR on a balance of $3000 means I will have to pay $90 in interest every month! I refuse to pay that much so hopefully our balance is paid off before the promotial 0% ends.
Now here is something interesting, I could transfer the entire balance back to the card every 6 months by doing a balance transfer to myself and paying a 3% fee. One of the options below is to put money on your bank account and manage it any way I want. Citi even offers next day direct deposit to my bank account. On a $3000 balance the cost would be $90 but 0 in finances charges for 6 months!
I can also transfer money from the PremierPass card to the Forward card for the same fee and enjoy 0% apr for 6 months.
Hopefully I don't have to do all this since my balance will be paid off but this is a great way to avoid paying close to $90 every month in finance charges.
20 hours ago