Tag Archives: 0% APR

‘Wells Fargo’ Successfully Closed A Credit Card Dispute Within 7 Hours. I Am Gobsmacked!

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by Anura Guruge
on May 14, 2024

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Click to ENLARGE. The e-mail they sent.

Wow.

I don’t dispute too many charges, BUT I am, however, assiduous in doing so IF I get screwed. I do not like being taken advantage of. That said, at most, I might file less than a handful of disputes a year on the 400 or more charges I make on credit cards each year. [Easy to work out that figure. I make AT LEAST one charge a day. SMILE]

I am new to ‘Wells Fargo’. They offered me a 0% APR deal that I would have been a bigger fool than I normally are to turn down. SMILE. The credit cards I use the most are from ‘Bank of America‘ — & I have been a customer of theirs since I arrived in the States in 1985. [They bought out ‘Bank of Maryland’ my first U.S. bank — as an adult.]

I very rarely (& I mean VERY, VERY rarely) lose a credit card dispute. I am scrupulously honest & I think ‘they’ kind of know that. I don’t (as I have already kind of mentioned) file too many disputes. But, with BofA I am used to disputes dragging on for weeks & getting multiple letters in the post. NOT SO with WF.

I am immensely impressed & glad. WOW. Much to be said for this.

Still Getting 0% APR (For 21 Months) Credit Cards. I Am Delighted.

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by Anura Guruge
on January 10, 2024

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I am always getting these 0% APR credit card offers & have for years (maybe the last decade).

I typically have ONE of these 0% APR cards going (i.e., active & in use) at any given time.

I paid off, in full, a ‘Bank of America‘ one a few months ago. Just, a couple of days ago, maxed out a ‘Citi‘ one. I have till June to pay that off. Just got this ‘Wells Fargo’ one.

That is how I play it. I try to only use ONE at a time. I always, but always, pay them off in full when the 0% APR promotional period ends. I don’t pay credit card interest. Just don’t. I don’t think I ever have! SMILE. I like to live within a budget, within my means. As some of you know, I live very modestly.

It is crazy that I am still getting 21-month, 0% APR offers in TODAY’s high-interest rate climate. I am not complaining, but it tells you something. Credit card companies are DESPERATE for the transaction fees they get on each transaction. I am glad.

I am happy. Part of my investment strategy. I invest the money till I need to pay off the card in full.

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Citi (Credit Cards) Really Made It Easy For Me To Make A Quick Donation To CHILDREN & Families In Need Via UNICEF.

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by Anura Guruge
on October 6, 2023

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I got an e-mail (on left) from ‘Citi‘ informing me that I can DONATE my points to UNICEF.

WOW.

PERFECT.

The Citi Credit Card was yet ANOTHER of the many 0% APR promotional cards I have. SMILE. It is NOT one of my main credit cards. As such, the Reward Points I receive on that card is a BONUS. I can do without them …

So, I donated some of it. EASY. EASY. EASY.

I am a UNESCO brat. UNICEF is a sister organization. I believe in & support UNICEF. This made it very easy. I am delighted.

I need to look into this more. Easy way for me to give to charities.

Well done, CITI. Thank you.

“Amazon’s” Store Credit Card ‘6 Equal Monthly Payments’ (With 0% APR) Doesn’t Work Like You Would Expect; Quite Deceptive.

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by Anura Guruge
on January 6, 2023

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Simply put YOU will always end up paying more than you expect UNLESS every transaction on your statement consists of products bought on the ‘Equal Month Payment‘ scheme. IF you have any items that did NOT qualify you will end up paying more than you expected. NO, you are NOT paying more per se over the 6-months — it is just that your monthly payments are NOT equal or equitable.

It all has to do with what credit cards deem PROMOTIONAL & NON-PROMOTIONAL items (i.e., purchases). The 0% APR, Equal Monthly Pay is a Promotional Item. So, yes, they do divide the price by 6 BUT you will invariably end up paying more … It is complicated. So, complicated that even they stumble over the explantion.

IF YOU only pay the MINIMUM BALANCE each month then you are all set. The equal monthly payment scheme will be fair to you, but if you have Non-Promotional items in there too you are of course going to be paying interest. That is what they want.

IF you like to pay off your entire statement balance each month — then you get screwed!

Why, because they don’t just let you pay for ALL the Non-Promotional items PLUS 1/6 of the price for Promotional.

Instead, you have to pay for ALL the Non-Promotional items PLUS the Minimum Payment! That is the catch. The Minimum includes monies to pay some of the Non-Promotional items — which you are going to pay in full! Get that. That is the catch.

Here is a simple example:
** You have $500 of Non-Promotional items
** A $240 item you bought on 6 monthly payments (at 0% APR).

You want to pay off ALL the Non-Promotional (i.e., $500) + 1/6 of the $240.

1/6 of $240 would come to $40 a month.

So, you would think what you would have to pay is $540. WRONG. Dead Wrong.
That is the catch.

You will have to pay more than $540. Probably more like $570. Get it.

That is because it is $500 + Minimum Balance (where the min. bal. includes some payment for the $500 also). So, you are kind of double paying.

See IF they can explain it to you better! SMILE.