Be careful ... when you make BT with 0% APR offer !!

[Anonymous]

They plan on you taking the BT and then using the card for purchases. That's their game. I take the BTs all the time and forget that I have the BT and go shopping. Then I am paying high rate of int on all my purchases until the BT is paid in full before any payments are applied to the purchases at the 20% int. Sometimes they make money off me, but more often I save more money off the offers. They usually make their money one way or another.

[islandchild82]

There are some good ones out there, though. I'm a college student and am getting serious about paying off all of my credit cards. My grandmother gets great credit card offers all the time, so I applied for one in her name as an AU to get my debt under control.

Applied and got the Chase Platinum Visa last month, 0% on BT AND purchases until May 2009. There is a 3% fee, but it is capped at $99. The rate is fixed at 8.9% after that. I have transferred 5 cards onto that account so far, and have only been charged ~$110 in fees. And I'm still able to purchase without having to worry about what is getting paid off at which interest rate. So, in this situation, BTs have really helped me.

[Anonymous]

Yeah, I'll second Bunny with the fees of 3%.  I've never seen a 4%.  Are there really companies that charge that much?  That's ridiculous.

Don't send any of those offers my way!

[Anonymous]

Oh, btw, I'm a happy owner of a New BoA that I got in December with 0% cash advance and 0% BT and purchase apr till December 09.  Pretty good eh?  The cap off for the fees is 75 dollars.  I just got cash off the card.

[haulingthescoreup]

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@Anonymous wrote:

Oh, btw, I'm a happy owner of a New BoA that I got in December with 0% cash advance and 0% BT and purchase apr till December 09.  Pretty good eh?  The cap off for the fees is 75 dollars. 

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A BofA with a cap? Sweet! Which one is it?

[Anonymous]

When DW's BoA card was reopened last month it came with new T&C information.  It specified some date in 2008, I can't remember specifically, but pre "some date" the BT fee is 4% with a limit of $75 or $100, post "some date" it's 3% with no limit.

[haulingthescoreup]

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@Anonymous wrote:

When DW's BoA card was reopened last month it came with new T&C information. It specified some date in 2008, I can't remember specifically, but pre "some date" the BT fee is 4% with a limit of $75 or $100, post "some date" it's 3% with no limit.

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OK, that sounds like during an initial period, maybe with 0% on the BT, you pay more for the transfer, but afterwards, when the initial rate is over, there's a lower fee. That would certainly make sense from their end.