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Is BOA ok with balance transfers?

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sammyfire2001
Frequent 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 Apr 2019: EX - 734; EQ - ??? TU - 748
Message 1 of 12
11 REPLIES 11
Anonymous
Not applicable

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
wmarat
Valued Contributor

Re: Is BOA ok with balance transfers?

BOA loves BT.
IN VINO VERITAS.
Message 3 of 12
plasticguy
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
Anonymous
Not applicable

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
Anonymous
Not applicable

Re: Is BOA ok with balance transfers?

BOA loves em', based on my experience.
Message 6 of 12
haulingthescoreup
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
marty56
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.

 

 

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 8 of 12
haulingthescoreup
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
marty56
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.

1/25/2021: FICO 850 EQ 848 TU 847 EX
Message 10 of 12
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