Easy/Stupid Question - Sorry

[Anonymous]

Yeah, I heard from BoA they are removing all BT fee caps for card users over the next year. Speaking of the devil, I just got my notice in the mail that my $75 fee is no more after June...there goes me ever using my BoA 5.9% APR card for BTs.

[BBYGRL]

Good question and very helpful answers. It's easy to br blinded by the 0% BTs with the reg APR. I almost fell for it. Whew...

[Anonymous]

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@BBYGRL wrote:

Good question and very helpful answers. It's easy to br blinded by the 0% BTs with the reg APR. I almost fell for it. Whew...

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Me too, lol! I almost fell for last night! - whewwww....hehe

THANKS ALL!

[Anonymous]

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@haulingthescoreup wrote:

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@GST2008 wrote:
Let's not forget the BT fee. I just got an offer from one of my cards for 5.9% on BT's, and then you look at the fee which is something like 3% which I'm assuming goes in as a purchase. So now I have 5.9% a month plus a purchase of 3% of the total that accrues the regular interest.

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I read a post by someone who said that there was a cap on her (his?) BofA BT, but that's the only time I've ever seen it. Most BT fees cap out at $75-99, but not BofA. On an $8K BT, I paid $240. If you take a year to pay off the balance, that's sorta like having 3% APR. Not bad at all, but certainly more than 0%.

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I just did a BT with my BoA/FIA card which had a cap of $75 which I more than got to. I was hoping to do another BT nearer to the end of the year on another BoA card, but now I don't know.

[Anonymous]

woopah - pay close attention to news in your cc statements...also, if you do online bank and changes will be pasted on a link next to your statement. And to play it extra safe call and confirm the fee and details on your account before doing a BT. Good luck!

[haulingthescoreup]

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@Anonymous wrote:

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@haulingthescoreup wrote:

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@GST2008 wrote:
Let's not forget the BT fee. I just got an offer from one of my cards for 5.9% on BT's, and then you look at the fee which is something like 3% which I'm assuming goes in as a purchase. So now I have 5.9% a month plus a purchase of 3% of the total that accrues the regular interest.

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I read a post by someone who said that there was a cap on her (his?) BofA BT, but that's the only time I've ever seen it. Most BT fees cap out at $75-99, but not BofA. On an $8K BT, I paid $240. If you take a year to pay off the balance, that's sorta like having 3% APR. Not bad at all, but certainly more than 0%.

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I just did a BT with my BoA/FIA card which had a cap of $75 which I more than got to. I was hoping to do another BT nearer to the end of the year on another BoA card, but now I don't know.

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I think this is an indication that DH and I don't have primo BofA cards! Good to know that they have had caps, although it looks like from an earlier post that this is being phased out for everyone...