Credit Tips: Cap on Balance Transfer Fees for Credit Cards

Posted On: May 1, 2006

Author: maddybeagle
Posted: Mon Jan 09, 2006 11:01 pm
Post subject: chase eliminating cap on bt fees

Fat wallet mentioned that some folks are getting revised terms with no cap on bt fees starting with the 3/06 monthly statement. Anybody else get that or do you think it is targeting some consumers/cards? My MBNA card is like that and just use it for the epay and occasional purchase.

mouse
SENIOR MEMBER (Member for 2 yrs.+)

Joined: 29 Jul 2004
Posts: 1352

Posted: Tue Jan 10, 2006 12:33 am Post subject: Re: chase eliminating cap on bt fees

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maddybeagle wrote:
Fat wallet mentioned that some folks are getting revised terms with no cap on bt fees starting with the 3/06 monthly statement. Anybody else get that or do you think it is targeting some consumers/cards? My MBNA card is like that and just use it for the epay and occasional purchase.

MBNA started that

Most of their BT’s were $75 max

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Polonius
SENIOR MEMBER (Member for 2 yrs.+)

Joined: 19 Jan 2004
Posts: 1987

Posted: Tue Jan 10, 2006 12:49 am Post subject:

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Yes, I’ve gotten that change of terms on three Chase cards effective with the billing cycle that includes March 1. Remember, though, that these are changes to the standard terms. Nothing prevents the issuers from making special offers with capped fees or no fees…
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Polonius
“Neither a borrower, nor a lender be; For loan oft loses both itself and friend”

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Board Monitor
Board Monitor/ Administrator

Joined: 05 May 2003
Posts: 2094

Posted: Tue Jan 10, 2006 8:31 am Post subject:

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Hmmm…not good news. If you’ve gotten this notice, please post here!
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Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314

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shooter
Credit Expert (100+ Posts)

Joined: 28 Oct 2005
Posts: 195

Posted: Tue Jan 10, 2006 11:19 am Post subject:

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Yep, got those terms last night. I was going to start a thread about it this morning but maddy beat me to it. I double checked my original terms to make sure there had been a cap when I applied. It was a $75 cap when I got the card. Oh well, as Polonius says we can still hope for special offers.