Warning... If you have seen JP Morgan Chase's offer for a no interest credit line for 6 months don't be fooled and read the fine print first, which by the way they won't even offer to explain to you over the phone. My girlfriend and I, who both have never had a late payment with anyone, decided it would be a good offer to take advantage of while we were waiting for tax returns to pay off our revolving debt.
What really bothers me is they solicited this offer by phone, and we signed up by phone and were not aware that this 0% only applied to new purchases. Any sort of balance transfer is subject to a 20% interest rate and a $10 transaction fee, which you won't notice until you have transferred a balance. I'm sure their intention is to get you to transfer a balance you have no other possible way to pay off once it's transferred and then refer you to the fine print in the contract they send you in the mail a month after you transferred the original amount.
Luckily I received a tax refund from last year and was able to pay it off as soon as we discovered the real truth about our "no interest" credit line. We had this credit line almost a month, and still haven't received any sort of contract, agreement or statement. Once my current tax return arrives our Chase credit cards will be paid off, and that will be the last of our business with them. This is especially unfortunate because the staff at my local branch is exceptional, and constantly helps us deal with their corporate garbage. Is there a single honest bank left anywhere? When will these banks realize that they can't abuse customers with perfect payment histories and expect to keep their business? I personally am fed up with banks and will soon be doing all my business with reputable credit unions.
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