Could this be the best credit card offer ever?

Look at the face on the envelope. It’s saying: “This deal is too good to be true.”
Opening up the envelope reveals even more exciting action.*

Never raised your fist in joy due to a credit card offer?
You haven’t been receiving the right one then!

Three words. High-freakin’-tech*.

Wow. Value of $850**!!

So, transfer $5,000 and maintain a balance of $3,500 for only a year and a half?*** That’s not so bad, right? Wait, what happens if I don’t have enough to transfer?
I can request a cash advance? Sweet!


* Not.
** Actual value of an Inspiron B120/B130? ~$560
*** Balance falls below $3,500 within 18 months? $600 fee.

$3,500 at 9.99% over 18 months ~ $563 in interest.

Break even? Yeah right. Initial balance must be $5,000. Balance transfer & cash advances do not have grace period; so, interest starts accumulating right away. You must maintain $3,5000 balance, which means if you pay off $1,500 right away to save on interest, you better charge just the right amount to counter balance future minimum payments.

Although purchase APR being variable is pretty standard, for this offer, your balance transfer APR is variable, unlike many other fixed offers. As of today, the rate is prime (8%) + 2.24%. According to the terms, after December 2006, it’s prime + 3.74%. So APR WILL increase.

Prime rate getting too high and you want out? Don’t forget the $600 fee.

Silliest credit card offer ever.