Zero percent credit card offers are still alive and well so far this year, but they may become scarce once the Feds start jacking up short-term interest rates later this year. The nation’s largest issuer is currently offering the longest term 0% interest rate. In the latest offer, Citibank’s “AT&T Universal Platinum MasterCard” carries a 0% interest rate on balance transfers that stays in effect through May 1, 2005. If the cardholder does not make their first balance transfer, or charge at least $100 in purchases, during the first three months of opening the account, the 0% rate will expire February 1, 2005. Citibank is also waiving its 3% balance transfer fee during the special promotion. The Citibank card caries a prime +5.99% purchase interest rate. Bank One is offering a 0% interest rate on purchases and balance transfers through January 2005 on its “Platinum VISA” card. The rate is prime +3.99% afterwards. You do not have to make a balance transfer to get the 0% rate at Bank One. However, Bank One charges a 3% balance transfer fee. FleetBoston is also offering a 0% rate on purchases through December 2004 on its “Titanium VISA” card. The rate for purchase is based on the LIBOR rate and is currently 10.99%. Finally, Capital One is offering a 0% APR on its “Platinum MasterCard” that applies to purchases and balance transfers through July 2004. Thereafter the rate is 12.9%, and there is no balance transfer fee. However, Capital One primarily issues cards with lower credit limits than most major banks.
