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Is BOA ok with balance transfers?

Regular Contributor

Is BOA ok with balance transfers?

I was thinking of taking BOA up on a 3% bt offer.  Are they actully cool with BTs or are they extending a fake offer like AmEx does?
As of Jan 2009: EX - 659 EQ - 666 TU - 681

As of 2/13/09: EX - 648 (My last EX Fico)
Message 1 of 12
11 REPLIES
Member

Re: Is BOA ok with balance transfers?

I have done BTs with BOA several times (for some reason they are not charging me any BT fee, which led me to pay off and do another BT multiple times), and haven't had any problems. What do you mean by fake offer from AMEX?
Message 2 of 12
Valued Contributor

Re: Is BOA ok with balance transfers?

BOA loves BT.
IN VINO VERITAS.
Message 3 of 12
Established Contributor

Re: Is BOA ok with balance transfers?

0.00%

Low APR1
Offer ID: CL3MWM37B
Start Saving Today

Consolidate high-interest balances at a promotional rate of 0.00%. This offer applies to qualifying balances through your statement closing date in October 2009.

Promotional Offer ID CL3MWM37B: The promotional Annual Percentage Rate (APR) Offer for this Balance Transfer is 0% through your statement Closing Date in 10/2009. Your promotional offer may end sooner. If you pay late, then as of the first day of the billing cycle in which that occurs, the promotional offer will end. When this Offer ends, the APR for this promotional balance will increase to 5.9%

They are always pushing me to Direct Deposit the majority of my credit line. I have before, no trouble at all
Message 4 of 12
Regular Contributor

Re: Is BOA ok with balance transfers?

I've never done a BT since I never carry a balance, but BoA is always mailing me promos for balance transfers. They seem to not only be ok with it, but they actively advertise it.
Message 5 of 12
Regular Contributor

Re: Is BOA ok with balance transfers?

BOA loves em', based on my experience.
Message 6 of 12
Moderator Emerita

Re: Is BOA ok with balance transfers?

BofA loves BT's, partly because they don't cap their BT fees, the way some other cards do.

So the more you transfer, the more they make! Smiley Wink Plus they're also counting on you to screw up by either buying something while the BT is still in effect, thus incurring interest on the purchase, or by failing to pay off the transferred amount before the intro period is up.

Nevertheless, it's a great way to get in with them, and also to potentially get a nice CL. I BT'd $8K plus the $240 fee on an initial CL of $10K, and I've been CLI'd twice to the current $18K. I'm getting ready to pay off the last bit early and start using the card for purchases to cheer them up a bit.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 7 of 12
Super Contributor

Re: Is BOA ok with balance transfers?


haulingthescoreup wrote: 
I'm getting ready to pay off the last bit early and start using the card for purchases to cheer them up a bit.

Tratior.

 

 

12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 8 of 12
Moderator Emerita

Re: Is BOA ok with balance transfers?


marty56 wrote:

haulingthescoreup wrote: 
I'm getting ready to pay off the last bit early and start using the card for purchases to cheer them up a bit.

Tratior. 



LOL.

Credit makes strange bedfellows!
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 9 of 12
Super Contributor

Re: Is BOA ok with balance transfers?


haulingthescoreup wrote:
LOL.

Credit makes strange bedfellows!

 I here yah.

 

IThese days BT offers are good no matter who is offering them.  LOL I still get BT offers from National City and the only CC debt I have is $36 with them.  If they offer me 0% for 4 years at 100k for my mortgage, I'm there.  same goes for BofA.

12/08/2017 FICO: EQ 843 TU 849 EX 844
Message 10 of 12