Credit Cards

[MedPR]

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Hey all. I mentioned this in my blog (I think), but I wanted to give everyone a heads up about a way to get a "free loan" to pay for application and interview costs. There are a handful of credit cards with introductory periods of 0% APR. I personally just got approved for one of these with a $10k limit and it's a huge relief. I am employed and will be able to pay off the balance within the next 12 months and won't have to pay a penny of interest.

If anyone else is interested, here are the ones I can think of off the top of my head. They each have different rewards, so take a look at them individually. If you know your credit score, you can check whogavemecredit.com to see a ballpark score that you need to get approved.

None of these cards have annual fees.

Citi Diamond Preferred (18 months 0% APR).
Citi Simplicity (18 months 0% APR).
Chase Slate (15 months 0% APR).
Discover More (12 months 0% APR).
Citi Forward (12 months 0% APR).
Citi Dividend (12 months 0% APR).

 

[vashka]

Thanks a bunch for that!

 

[Tummytroubles]

If you have good credit sign up for a credit card that gives you $300 if you spend 800 in the first three months (easily done during application season). The rewards points are also nice, I get 1% back on everything. Be careful and only get this type of card if you can pay it off at the end of the month. The interest rates are high on these credit cards and I have been saving for this process for some time and pay it off at the end if each month.

Go to bankrate.com to find and compare these cards.

 

[MedPR]

If you have good credit sign up for a credit card that gives you $300 if you spend 800 in the first three months (easily done during application season). The rewards points are also nice, I get 1% back on everything. Be careful and only get this type of card if you can pay it off at the end of the month. The interest rates are high on these credit cards and I have been saving for this process for some time and pay it off at the end if each month.

Go to bankrate.com to find and compare these cards.

I believe you're talking about Chase Freedom, which actually only requires that you spend $500 in the first 3 months, though I don't think they are offering this deal anymore.

 

[Tummytroubles]

I believe you're talking about Chase Freedom, which actually only requires that you spend $500 in the first 3 months, though I don't think they are offering this deal anymore.

Pentagon federal credit union also has a similar deal going on as Chase Freedom. BankRate.com should list all the current offers going on.

I am thinking about getting an airline card for interviews but I don't want to get ahead of myself since I don't know if I'll get engough interviews to make it worthwhile this application season.

 

[MedPR]

Pentagon federal credit union also has a similar deal going on as Chase Freedom. BankRate.com should list all the current offers going on.

I am thinking about getting an airline card for interviews but I don't want to get ahead of myself since I don't know if I'll get engough interviews to make it worthwhile this application season.

You have to be military or government to get a pen fed card. Either that or you can apply for membership (via a donation to certain charitable organizations), but they are conservative and may still deny your application for their cards.

 

[Tummytroubles]

You have to be military or government to get a pen fed card. Either that or you can apply for membership (via a donation to certain charitable organizations), but they are conservative and may still deny your application for their cards.

My significant other donated(I don't remember the exact amount but it tiny and in the 5 to 25 dollar range) and was approved recently for the card.

 

[MedPR]

My significant other donated(I don't remember the exact amount but it tiny and in the 5 to 25 dollar range) and was approved recently for the card.

Yea it's not a huge donation. Their gas card is pretty awesome. US Bank just came out with a new rewards card as well. 2% and 5% back on categories of your choice each quarter. US Bank Cash+ Visa Signature.

 

[Tummytroubles]

Yea it's not a huge donation. Their gas card is pretty awesome. US Bank just came out with a new rewards card as well. 2% and 5% back on categories of your choice each quarter. US Bank Cash+ Visa Signature.

Thanks for the heads up on the usbank card, if I can get 5% on airfare back, that might be a better option than an airline card.

 

[MedPR]

Thanks for the heads up on the usbank card, if I can get 5% on airfare back, that might be a better option than an airline card.

Indeed. I thought about airline/travel rewards cards too, but after interview season I won't be traveling much (until M3/M4) and I figured it wouldn't be worth it.

 

[Water Top]

. I personally just got approved for one of these with a $10k limit and it's a huge relief. I am employed and will be able to pay off the balance within the next 12 months and won't have to pay a penny of interest.

Going into debt for applications sounds like a scary slope. What if....you can't pay it off. I am sure those 0% cards go well into the double digits.

It would also be a terrible place to start a potentially long road of schooling without an income.

Dave Ramsey has influenced me over the years.

 

[MedPR]

Going into debt for applications sounds like a scary slope. What if....you can't pay it off. I am sure those 0% cards go well into the double digits.

It would also be a terrible place to start a potentially long road of schooling without an income.

Dave Ramsey has influenced me over the years.

Not everyone has the cash up front to pay for applications.