It’s hard enough to find a no fee balance transfer these days (well not really thanks to my list), so you’d think it would be unheard of to get paid when you did come across one.
But credit unions continue to surprise us with their aggressive offers. This is the case with the latest balance transfer offer from Cabrillo Credit Union, which is headquartered in the San Diego, California area.
60 Years = $60 In Your Pocket
To celebrate 60 years in business, the credit union is offering up $60 if you transfer at least $1,955 (the year Cabrillo was founded) in credit card balances to them by April 30th, 2016.
If you do, they’ll reward you with 0% APR for six months and award you with $60. So to get this straight, you’ll pay no interest for half a year and you’ll actually get paid in the process. How is that even possible?
Oh, and did I mention that the Cabrillo MasterCard is a no fee offer, so the typical 3% balance transfer fee will not be charged. There’s also no annual fee to worry about so you can tackle your debt without taking on any extra.
$120 Net Benefit to Transfer
For example, if you were to transfer $2,000 to Cabrillo Credit Union you’d normally pay a $60 fee, but not the case here. Instead, they give you $60! That’s a $120 swing if you’re paying attention.
You can also use that $60 to pay down your credit card balance even faster. For the record, the $60 will be awarded into the card member’s account by no later than May 31st, 2016 as long as the transfer is recorded during the promotional period.
You can only take advantage of this offer once and it’s subject to change at any time. If you live in San Diego and have credit card debt, this is honestly a no-brainer. They’re willing to pay you to slash your interest rate to zero. What’s not to like? Nothing!
Even if you transfer less than $1,955, it’s still a good deal because it’s a free balance transfer, meaning 0% and no cost.