Consumer Payment Card News

0% Carrots

Since the latest rate cut by the Feds, credit card solicitations featuring extended 0% introductory APRs have been flooding mailboxes. Citibank and Providian have extended their 0% offers in early 2004 while Discover has extended its 0% APR for balance transfers and cash advances until the end of 2003. However, Citibank’s 0% rate only applies to balance transfers. Providian’s 0% APR is limited to purchases, but requires a $100 minimum balance transfer to trigger the 0% rate. Providian is currently charging an 11.99% rate for balance transfers, based on November offers picked up by CardWatch’s market radar. MBNA continues to offer a 0% rate on cash advances and balance transfers, but both are subject to a 3% transaction fee. Capital One is maintaining a 0% APR on purchases for a six-month term for most of its direct mail offers this month. For complete details on November credit card solicitations as well as direct mail offers since 1986, visit CardWatch (

                      NOVEMBER  CARD  DEALS   ISSUER
                  CARD           INTRO    APPLIES       EXP       GO-TO
 Discover        Platinum         0%       P/B        12/03      13.99%
Providian       Platinum         0%*       P          1/04      11.99%
Citibank        AT&T Platinum    0%        B          2/04       9.74%
Citibank        Platinum         0%        B          3/04      10.74%
Capital One     Platinum         0%        P          5/03      14.90%
MBNA            Platinum         0%       B/C**       7/03       9.90%*

Providian requires a $100 minimum balance transfer at an 11.9% APR to trigger intro rate on purchases* MBNA charges 3% transaction fee for all balance transfers and cash advances Source: CardWatch (

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