No. of Recommendations: 0
KingNorris writes (with respect to CCCs applying payments toward low-interest promotional stuff before applying payments to high-interest recent purchases):
lower APR so I can leave Citibank after 12 years. This just seems like a total screw job to me.

I've had it happen with Fleet. I had first heard about it when my mother fell into a similar trap a few years ago. I think it is a fairly standard practice and you'll be hard-pressed to find a credit card company that won't apply payments in this fashion. The trick to these special APRs is to transfer a balance and, if you must use a credit card for a purchase, use a DIFFERENT credit card.

I recently took advatange of a 4.9% for the life of the debt offer. Unfortunately, it was from a card that I regularly auto-pay bills with. Before I did the balance transfer, I moved all my auto-bill pays to a different card so that no new charges would go on the card with the promotional APR. I then transferred all the balances I could to the card and subsequently took the card out of wallet and put it away so it is not used. That way, I really can take advantage of the special rate for a long time, just as promised. As far as I know, that's the only way to guarentee you'll get to keep that low rate and not get snagged into paying higher APRs.

I understand your frustration. This is a tough trap, but it's a learning experience. At least you can look forward to not getting burned in the future since you know what steps to take.

Good Luck!

Dan
aFoolishEngineer
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