# Balance switching to PC Mastercard



## DJ Dee (Jun 2, 2009)

Hey everyone,

I was wondering if anyone knew about the new President's Choice MC promotion on balance transfers at .97% for the first year. What does the rate "rocket" up to after the first year? Would this be a good switch from my CIBC student Visa? I do shop a lot at superstore so the points would be of benefit. 

Thanks for your time!


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## janbjarne (Jun 7, 2009)

I don't know PC's terms, but I strongly suggest reading the fine print very carefully. The promotional rate probably doesn't apply to new purchases, just the originally transferred balance, and that balance is probably reduced by all your payments, before it is applied to new purchases, so you pay full rate very soon.

Only one way to handle credit cards, imho. Pay in full every month so you don't incur interest. If you need to borrow, use a low interest source such as line of credit - your credit card is always the most expensive way to borrow.


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## mogul777 (Jun 2, 2009)

DJ Dee said:


> Hey everyone,
> 
> I was wondering if anyone knew about the new President's Choice MC promotion on balance transfers at .97% for the first year. What does the rate "rocket" up to after the first year? Would this be a good switch from my CIBC student Visa? I do shop a lot at superstore so the points would be of benefit.
> 
> Thanks for your time!


The standard rate is 19.97%


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## MoneyGal (Apr 24, 2009)

I used the balance transfer offer with a PC Mastercard, just as a very cheap way to borrow money over the short term. 

The applicable post-offer rate for PC will vary depending on the borrower's credit rating. I've seen the standard rate for that card quoted out at 25% for some borrowers.


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## mandy (Aug 5, 2009)

I have had my PC Mastercard for about a year and it's fine. I do shop at Superstore - and right now I have just over $100 of free groceries to use up.

I did try to apply for a card for husband and they told me to fax something in, which i did. I waited and then called to find out why I had no card. I spoke to someone who told me to fax something in to him using his name. I did. My husband never recevied his card. I really don't get it - I was just asking an additional card - it seemed weird they wouldn't send it out. Anyway he still uses BMO and is fine with that.

I think the interest is high, but as I pay off my balance every month, it isn't an issue for me.

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