credit card with low interest to transfer to??

[majazama]

I hope this is the right forum for this. I have been having a hard time with money recently as my student loan money ran out, and I am barely scraping by. What I need help with is trying to find a credit card that has a really low interest or transfer fees or something, so that at least I'm not going to go further into debt with the freakin' interest on my 18% Visa I have right now.

Please help me if you know the best place to get a low interest card!

I'm in canada, if that makes any difference. I have looked into CCs before but it's such a slog to go through. I just want to know if anyone here has a quick reply for me.

TIA!:

[mandib50]

wow! that is really high. my husband has a credit card with scotia bank with an interest rate of under 4% and my alberta treasury branch mastercard is around 9%. i think finding a low interest rate credit card depends on your credit rating and how much business you are doing with a bank. i would call every bank and ask around for rates or deals.

[majazama]

Originally Posted by mandib50

wow! that is really high. my husband has a credit card with scotia bank with an interest rate of under 4% and my alberta treasury branch mastercard is around 9%. i think finding a low interest rate credit card depends on your credit rating and how much business you are doing with a bank. i would call every bank and ask around for rates or deals.

I didn't think of that. thx. I was just thinking of those promotional cards that they try to get everyone to get from time to time, with like a 2% rate or something.

[loitering]

PC Financial has a no-fee credit card that has an offer for low-interest balance transfers up to 6 months after you get the card. The interest rate is 1.97%. PC Financial is part of Loblaws/Superstore/Zehrs etc. And when you use the card on regular purchases, you get points towards free groceries.

I sound like a commercial, lol. But you should look into it.

[majazama]

thank-you

[CarrieMF]

Have you tried calling your cc company & asking them to lower the interest rate? It won't usually go really low unless you have an offer sitting there with another company. They won't always do it, CIBC Visa told me they'd rather me cancel my card & lose my business than lower my rate so I did. We really like MBNA

[tankgirl73]

I do love my PC banking, the credit card is great, every so often we get balance transfer cheques with low interest, I've done the "peter to pay paul" thing transferring debt back and forth, from the 8% line of credit to the 3% PC Mastercard for the duration of the deal, then back to the line of credit after the bonus period was up (and it would go back up to 16% or whatever) heh...

Here's another tip. Many years ago, we had a huge load of credit card debt. When I got a new credit card which had a lower rate, I transferred everything from one card onto that one. Then I got a call from THAT company -- they'd noticed the transfer and wanted to know why, since they wanted to "keep my business". When I said it was simply a lower rate -- they offered me a rate that was lower still!!!

In other words, faced with the thread of losing ALL interest from you as a customer, to simply getting LESS interest from you, most companie will lower their rate considerably if you definitely have a viable alternative you're planning to switch to.

[majazama]

yah, I should phone em'. I looked into the PC card, and didn't see much about the really low rate. I read their fine print and their rate is 25% (ouchie) But I guess that is after the 6 months or something.

[tankgirl73]

The intro rate is on balance transfers from other credit cards:

http://www.pcmastercard.pcfinancial....eferid=leftnav

Yes, it's only for 6mo... but there's always a chance your other card will, by then, have offered you their own balance transfer low rate and you can go back and forth, avoiding the high rate long enough to pay off at least a good chunk of the debt.

[majazama]

I did read that, but the fine print didn't mention the low rate at all, so it kinda made me go .