topic Re: Balance Transfer Offer for existing Cardholders are gone? in Credit Cards

Balance Transfer Offer for existing Cardholders are gone?

azpro — Sat, 02 May 2020 03:13:26 GMT

I currently have Citi Double Cash, Discover, Capital One Rewards Cards and Chase Bonvoy.

In last few months Feb or March I've seen BT from:-

Citi DC around 4-5% - Still available to use

Discover around 3% - Still available to use

Chase around 4% - Expired in March - No new checks

Captial One - 2% Haven't seen any checks for over an year.

I was carrying a high balance on Chase until last month. Recently paid in full. No offers yet that is unusual.

I am currently carrying a High Balance on Captial One. Used up 18 months 2% offer last year, paying the minimum.

Am I doing anything wrong that I'm not seeing BT offers or checks from either Chase or Capital One?

What should I do to get those BT check started again?

Anyone else is noticing the same pattern?

Re: Balance Transfer Offer for existing Cardholders are gone?

Anonymous — Sat, 02 May 2020 03:37:44 GMT

Most banks have already pulled BT offers for portfolio.

Even BT offers for new accounts are being pulled.

Transfer funds when you can, it will be worse in the next couple of months when all the changes get put in the system.

Only repreive is the some of the covid offers and assistance.

BT surfing would become much tougher.

Re: Balance Transfer Offer for existing Cardholders are gone?

Shooting-For-800 — Sat, 02 May 2020 11:00:09 GMT

For the first time I can remember 2 of my Cap One accounts don’t have balance transfer options at REGULAR APR!

My Venture still does (12.99%).

Propel does not.

Dicover does not.

DW Discover has 0%for 12 months offer.

My PenFed cards have 0% for 12 months.

Overall, there is a tightening.

Re: Balance Transfer Offer for existing Cardholders are gone?

NRB525 — Sat, 02 May 2020 12:18:43 GMT

I have three Discover BT I have been working on, 4.99% and 5.99% no fee. I have had a total balance of up to a couple thousand on these no-fee BT Discover offers, paid down, through several borrow - pay cycles the last few years. I always have two Discover BT offers, so I added a $3.000 3% BT fee chunk to the list. Makes four tranches of BT running on one account. I have also always had a $333 monthly autopay running to Discover so each of the BT I have done, is paid within the time term, usually less than a year for each.
TL:dr I have a lot of positive BT history on Discover.

I haven't seen a Citi card BT offer for a few years now, but I am down to only one AAdvantage MileUp card, which will be closed as soon as I can use my AA miles up.

I still have ~5% BT fee offers from several Chase cards, including CSR

Two US Bank cards. Used a $5,000 BT to one of my Cash+ cards in the last week.

CapitalOne BT offers are only at standard APR, I have never seen a special BT rate or fee from CapOne. I have a QS with fixed 10.9% APR that I use a couple times a year for a $500 BT, paid at over $200 per month. Gets them some interest, I pay no interest First Month and Last Month, it works out to a low actual APR for the time value.

Re: Balance Transfer Offer for existing Cardholders are gone?

Anonymous — Sat, 02 May 2020 16:01:22 GMT

I had one with chase(they come and go), discover(2 different offers since 2013), Citi(always since 2017), and capital one(always offering me 18 months and 3% fee(and one time 2% fee)). I was getting borderline harassment from discover, Citi, and capital one through email and snail mail for balance transfers up til early April this year. They all disappeared. I have 0 balance with all their cards. Its definitely because of covid-19....or my 3 newly acquired credit cards last month.

Re: Balance Transfer Offer for existing Cardholders are gone?

Namaste7 — Sat, 02 May 2020 17:17:59 GMT

Does anyone have offers from BofA?

Re: Balance Transfer Offer for existing Cardholders are gone?

Anonymous — Sat, 02 May 2020 17:24:19 GMT

I'm still getting offers from the two old faithfuls, Citi and Disco. Unfortunately they want 4% and 5% fee respectfully. Haven't seen anything from Chase or USB in a few weeks, though the USB BIZ does have an offer but not high enough CL do do anything worthwhile.

In a pinch I can alway take CA from CU for the same APR as purchases which is 9%, so in reality I have plenty if needed. But i prefer to keep CC balances very low to none if i can. If they see too many balance increases I'm sure they'll get nervous.

Re: Balance Transfer Offer for existing Cardholders are gone?

sarge12 — Sat, 02 May 2020 17:52:08 GMT

@Anonymous wrote:
I'm still getting offers from the two old faithfuls, Citi and Disco. Unfortunately they want 4% and 5% fee respectfully. Haven't seen anything from Chase or USB in a few weeks, though the USB BIZ does have an offer but not high enough CL do do anything worthwhile.

In a pinch I can alway take CA from CU for the same APR as purchases which is 9%, so in reality I have plenty if needed. But i prefer to keep CC balances very low to none if i can. If they see too many balance increases I'm sure they'll get nervous.

If you don't mind me asking...which credit union is this? I can do the same at Michelin Tire Corp. FCU. That is so rare for a credit union not to charge a fee or extra interest for cash advances. Even the percentage is the same if you are rounding up 8.99%. I can do so on both the CLOC or credit card, same interest on both, which is amazing when compared to most credit cards that charge both a fee when CA is taken and higher interest with no grace period. The only difference between a credit card purchase at MTCFCU is there is no grace period so interest starts the day the CA is taken. I would imagine everywhere does that to prevent getting a CA to deposit somewhere you can draw interest and paying it back on the due date. The really strange thing...I have never taken a cash advance on it, or anywhere else for 20 years.

Re: Balance Transfer Offer for existing Cardholders are gone?

AllZero — Sat, 02 May 2020 17:56:20 GMT

@Namaste7 wrote:
Does anyone have offers from BofA?

@Namaste7 I see it available in online portal in the Transfer Balance or Get Cash tab. 3% BT fee.

Re: Balance Transfer Offer for existing Cardholders are gone?

Anonymous — Sat, 02 May 2020 18:00:46 GMT

Yeah my local CU does the same, I've often "borrowed" from that CL for a week or so and end up costing me a couple bucks.

it's called Rivermark Community Credit Union

The APR could have even lower as it starts at 6.9% , but my score at the time I opened the account was much lower due to 3 negatives I was unaware of. lol

Re: Balance Transfer Offer for existing Cardholders are gone?

AverageJoesCredit — Sat, 02 May 2020 18:10:49 GMT

@Namaste7 wrote:
Does anyone have offers from BofA?

Mine have been gone over a year now

Re: Balance Transfer Offer for existing Cardholders are gone?

azpro — Sat, 02 May 2020 18:31:27 GMT

@Anonymous wrote:
I'm still getting offers from the two old faithfuls, Citi and Disco. Unfortunately they want 4% and 5% fee respectfully. Haven't seen anything from Chase or USB in a few weeks, though the USB BIZ does have an offer but not high enough CL do do anything worthwhile.

In a pinch I can alway take CA from CU for the same APR as purchases which is 9%, so in reality I have plenty if needed. But i prefer to keep CC balances very low to none if i can. If they see too many balance increases I'm sure they'll get nervous.

I don't like paying more than 5% on BT offers. 2% Ones from Captial One are the best and with 18 months. Wow. They dried up.

Re: Balance Transfer Offer for existing Cardholders are gone?

Namaste7 — Sat, 02 May 2020 18:44:30 GMT

@AllZero wrote:
@Namaste7 wrote:
Does anyone have offers from BofA?
@Namaste7 I see it available in online portal in the Transfer Balance or Get Cash tab. 3% BT fee.

@AllZero- Are your offers at reduced APRs?

@AverageJoesCredit wrote:
@Namaste7 wrote:
Does anyone have offers from BofA?
Mine have been gone over a year now

@AverageJoesCredit- The first half of 2019, I did not get offers and then they popped up with reduced APRs until about Nov or Dec. Now, I only have an offer at the existing rate 👎.

Re: Balance Transfer Offer for existing Cardholders are gone?

azpro — Sat, 02 May 2020 18:45:38 GMT

@NRB525 wrote:
I have three Discover BT I have been working on, 4.99% and 5.99% no fee. I have had a total balance of up to a couple thousand on these no-fee BT Discover offers, paid down, through several borrow - pay cycles the last few years. I always have two Discover BT offers, so I added a $3.000 3% BT fee chunk to the list. Makes four tranches of BT running on one account. I have also always had a $333 monthly autopay running to Discover so each of the BT I have done, is paid within the time term, usually less than a year for each.
TL:dr I have a lot of positive BT history on Discover.

I haven't seen a Citi card BT offer for a few years now, but I am down to only one AAdvantage MileUp card, which will be closed as soon as I can use my AA miles up.

I still have ~5% BT fee offers from several Chase cards, including CSR

Two US Bank cards. Used a $5,000 BT to one of my Cash+ cards in the last week.

CapitalOne BT offers are only at standard APR, I have never seen a special BT rate or fee from CapOne. I have a QS with fixed 10.9% APR that I use a couple times a year for a $500 BT, paid at over $200 per month. Gets them some interest, I pay no interest First Month and Last Month, it works out to a low actual APR for the time value.

@NRB525 I got US Bank Cash+ Last Year and still on 0% on purchase till middle of this month. I'll pay it in full. Was your BT fee 3%, was your APR 0% or your card's standard variable APR? If your APR was 0%, how many months was it? Thank you

Re: Balance Transfer Offer for existing Cardholders are gone?

azpro — Sat, 02 May 2020 18:52:25 GMT

@Namaste7 wrote:
@AllZero wrote:
@Namaste7 wrote:
Does anyone have offers from BofA?
@Namaste7 I see it available in online portal in the Transfer Balance or Get Cash tab. 3% BT fee.
@AllZero- Are your offers at reduced APRs?

@AverageJoesCredit wrote:
@Namaste7 wrote:
Does anyone have offers from BofA?
Mine have been gone over a year now
@AverageJoesCredit- The first half of 2019, I did not get offers and then they popped up with reduced APRs until about Nov or Dec. Now, I only have an offer at the existing rate 👎.

I had BT offers from almost every bank at beginning of 2019.

Re: Balance Transfer Offer for existing Cardholders are gone?

AllZero — Sat, 02 May 2020 19:16:40 GMT

@Namaste7 wrote:
@AllZero wrote:
@Namaste7 wrote:
Does anyone have offers from BofA?
@Namaste7 I see it available in online portal in the Transfer Balance or Get Cash tab. 3% BT fee.
@AllZero- Are your offers at reduced APRs?

@AverageJoesCredit wrote:
@Namaste7 wrote:
Does anyone have offers from BofA?
Mine have been gone over a year now
@AverageJoesCredit- The first half of 2019, I did not get offers and then they popped up with reduced APRs until about Nov or Dec. Now, I only have an offer at the existing rate 👎.

@Namaste7 I looked at it closer. It appears to be at existing APR. No reduced APR.

Re: Balance Transfer Offer for existing Cardholders are gone?

Anonymous — Sat, 02 May 2020 19:42:57 GMT

Now that you mention it, Chase has stopped sending me their weekly offers. Been too busy to notice, I guess. I checked all my cards and here's what I see:

ch fr: no offers, $40 bal
ch sp: no offers, $0 bal

c1 platinum: $0 bal, no offers
c1 wm: $40 bal, transfer at regular interest rate.
c1 s1: $4 bal, no offers

discover #1: 0% APR, 4% fee, 12mo. 4% APR, 4% fee, 18mo. $0 bal
discover #2: 0% APR, 4% fee, 12mo. 6% APR, 0% fee, 15mo. $2000 bal (current 0% period). (this one is actually attractive if you can pay it off in 6- months)

citi dc: 11% APR until 2/1/2022, 0% fee, $350 balance.
citi r+: no offers. $2000 balance (current 0% period.)

Amex ED, HH, CM: "We're unable to extend balance transfer offers at this time." $50ish balance.

US Bank Cash+: 15% APR, 3% fee. $11 balance.

FICO8: 777- 794. Aggregate UTL: 4%.

It makes me ask, "Chase are you okay? Why are you so shook?"

Re: Balance Transfer Offer for existing Cardholders are gone?

Namaste7 — Sat, 02 May 2020 20:27:15 GMT

@azpro wrote:
@Namaste7 wrote:
@AllZero wrote:
@Namaste7 wrote:
Does anyone have offers from BofA?
@Namaste7 I see it available in online portal in the Transfer Balance or Get Cash tab. 3% BT fee.
@AllZero- Are your offers at reduced APRs?

@AverageJoesCredit wrote:
@Namaste7 wrote:
Does anyone have offers from BofA?
Mine have been gone over a year now
@AverageJoesCredit- The first half of 2019, I did not get offers and then they popped up with reduced APRs until about Nov or Dec. Now, I only have an offer at the existing rate 👎.

I had BT offers from almost every bank at beginning of 2019.

My previous comments were specific to BofA. I had offers from other bankcards.

Re: Balance Transfer Offer for existing Cardholders are gone?

Anonymous — Sat, 02 May 2020 20:41:52 GMT

The only offers I've seen lately are from Discover.

3% Fee, 0% APR, 12 months

$0 Fee, 4.99% APR, 15 months

Currently using part of the 0% APR offer to get rid of a high APR balance on another card.

Re: Balance Transfer Offer for existing Cardholders are gone?

Gunnerboy — Sat, 02 May 2020 20:45:19 GMT

@Namaste7 wrote:
Does anyone have offers from BofA?

Yes, two.

0.00% until Oct 2021

1.99% until Jan 2022