I've made a post in the past about this. Every three weeks or so I receive an envelope from BoA for two balance transfer options for my Cash Rewards credit card.
They have sent the same offer now for at least 15 times. Every time it is yet another envelope in my mailbox! It's incredible. I'm sure I'll receive it at least five more times.I've filled out the section on their website to limit their information sharing but I think they're entitled to sending me their own offers since I am a customer.
Can't they pull softs and see whether someone would be a potential candidate for a BT? The reported balances on all of my accounts are maybe $500 at the most with about $50k of available credit. Why would I want to do a BT then?
These constant BT offers don't exactly foster financial responsibility in BoA's customer base. I think they're doing the wrong thing by pushing this on people.
Credit card companies are aggresively seeking out balance transfers right now. Loan growth is relatively low, so in the card companies are competing with each other to assume outstanding loans. Discover said this on their recent earnings call.