Credit Card Balance Transfer Offer for the Life of the Transfer
Author- Verne
SENIOR MEMBER (Member for 2 yrs.+)
Joined: 14 May 2003Posts: 446Location: Midwest
Posted: Fri Jul 11, 2003 12:44 pm
At first glance the LARGE print, offered 4.00% APR for the life of the balance transfer. And it said I'm eligible to increase my credit limit (from $1,000 to 3,000). Sounded good until I looked at the footnotes. *For each balance transfer and check used there is a Cash Advance Fee of $50.00. **This fee will post to your account as a cash advance fee and receive a cash advance rate. (19.9%) ***I need to call and do a transfer to get the credit limit increase. In other words, even if it were worth it after the $50.00 fee to transfer say $1,000 from an account with 7.9% to get 4.0%, how much will it cost me to have the $50.00 fee buried (paid off last) at 19.9% beneath the balance at 4.0%? Bank of America is a joke.
Verne
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