Balance Transfer Credit Card Rates

Post subject: Balance Transfer Credit Card Rates
Guest: credithelp
Posted: Sat May 14, 2005 7:26 am

They gave me a good balance transfer rate so i took advantage of it. Then they raised the rate from the fixed balance transfer rate to the regular variable rate. The only changes in my reports were positive ones and two of my scores are in the 700's.

Do they normally do that? I'm calling them today to see what is going on but was wondering about it.

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Guest: Polonius
Credit Expert (100+ Posts)
Post subject: Bank Of America Credit Card Rates
Posted: Sat May 14, 2005 9:05 am

Most banks have temporary promotional rates; when they expire, the rates go to the regular rate. For example, I'm looking at a balance transfer offer from GM Card for 1.9% for 9 billing cycles and then the regular rate; and an offer for 4.99% until the transfer is paid off in full.

Rates on new transactions can change at any time. But if you're paying as agreed, you should NOT see a change in the rate for your existing balance transfer...unless it's a promotional offer with a time limit and that time is up.

Guest: Board Monitor
Post subject: Bank Of America Credit Card Rates
Posted: Sat May 14, 2005 10:20 am

Are you sure the promotional period didn't end? Let us know what you find out...

Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

Guest: credithelp
Post subject: Bank Of America Credit Card Rates
Posted: Sat May 14, 2005 1:02 pm

I called them and asked about it. It wasnt supposed to change and was a mistake. Its supposed to be fixed now so i will find out when the next statement comes out to make sure.

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Guest: Bank Of America Credit Card Rates
Post subject: Bank Of America Credit Card Rates
Posted: Sun May 15, 2005 9:19 am

That is good news. Let us know what your statement says and good luck!

Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

Guest: CreditCardGuru
Post subject: Bank Of America Credit Card Rates
Posted: Sun May 15, 2005 12:12 pm

How long is the promo period for?

I'm the Credit Card Guru, YOU BET

Guest: credithelp
Post subject: Bank Of America Credit Card Rates
Posted: Sun May 15, 2005 12:30 pm

Supposed to be for 6 months but it was changed after one. Its supposed to be fixed now so we shall see.

Guest: CreditCardGuru
Post subject: Bank Of America Credit Card Rates
Posted: Sun May 15, 2005 12:33 pm

Oh ok, which card was this?!

I'm the Credit Card Guru, YOU BET

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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Guest: credithelp
Post subject: Bank Of America Credit Card Rates
Posted: Sun May 15, 2005 1:15 pm

It's the usair card. Usair is having money problems so they may have to switch me to another card eventually.

I should add, even with the interest rate slip up boa has been great to deal with. I made a payment at a boa branch location around 4pm and it posted to my account that night around 9:30 which was faster than i expected.

Guest: credithelp
Post subject: Bank Of America Credit Card Rates
Posted: Tue May 17, 2005 8:32 am

I checked my online account this morning. They credited the interest charges back that i lost due to the interest rate hike. I still have the low rate for a few more months. They even gave me a 500 credit limit increase.

Things should be good to go now.