Credit Card with 3% Fee Cap on Balance Transfers
Guest: rapjunkie
Post subject: Credit Card with 3% Fee Cap on Balance Transfers
Credit Expert (100+ Posts)
Posted: Wed Apr 05, 2006 5:25 pm
That's strange - I received BT checks last week with the $75 cap.
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Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Apr 05, 2006 6:16 pm
3% NO MAX IS LIKE A TEST MARKET
$20,000 X 0.03 = $600
SURE IT'S ONLY $600...NO BIG DEAL!!!
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Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Apr 05, 2006 6:59 pm
Look, just check the terms for each offer you receive. MBNA can always put a cap on a balance transfer or make balance transfers fee-free whenever it likes, even if the "usual" terms say 3% with no cap.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: guessindigo
Credit Expert (100+ Posts)
Posted: Thu Apr 06, 2006 11:04 am
My rule is I NEVER take the checks or offers and respond via snail mail. I always call and negotiate. If they insist on no-max, then I walk. I can say more than half the time, I get success in getting the BT fee either waived or the fee dropped by 1/3 or more.
The phone is a great tool to broker win-win deals. More customers should not be afraid to call and negotiate a better deal than what you get in the mail.
Actually, Chase always encourages me to call to see what they have to offer. The rep actually told me to ignore the mail and whenever I want to do a BT, just call and "...I am sure we can work something out that is mutually beneficial"
True story and in fact, it has worked wonders.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Apr 06, 2006 12:14 pm
Great advice! I'll have to give that a try.
I have noticed that the mail offers and the online offers often are different.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Credit Card with 3% Fee Cap on Balance Transfers
Credit Expert (100+ Posts)
Posted: Wed Apr 05, 2006 5:25 pm
That's strange - I received BT checks last week with the $75 cap.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Apr 05, 2006 6:16 pm
3% NO MAX IS LIKE A TEST MARKET
$20,000 X 0.03 = $600
SURE IT'S ONLY $600...NO BIG DEAL!!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Apr 05, 2006 6:59 pm
Look, just check the terms for each offer you receive. MBNA can always put a cap on a balance transfer or make balance transfers fee-free whenever it likes, even if the "usual" terms say 3% with no cap.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: guessindigo
Credit Expert (100+ Posts)
Posted: Thu Apr 06, 2006 11:04 am
My rule is I NEVER take the checks or offers and respond via snail mail. I always call and negotiate. If they insist on no-max, then I walk. I can say more than half the time, I get success in getting the BT fee either waived or the fee dropped by 1/3 or more.
The phone is a great tool to broker win-win deals. More customers should not be afraid to call and negotiate a better deal than what you get in the mail.
Actually, Chase always encourages me to call to see what they have to offer. The rep actually told me to ignore the mail and whenever I want to do a BT, just call and "...I am sure we can work something out that is mutually beneficial"
True story and in fact, it has worked wonders.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Apr 06, 2006 12:14 pm
Great advice! I'll have to give that a try.
I have noticed that the mail offers and the online offers often are different.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 2:30 PM
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