Money Tips: Does my credit card 0% balance transfer fee acrue interest?

Posted On: August 18, 2006

Guest: shan
Post subject: Does my credit card 0% balance transfer fee acrue interest?
Posted: Fri Aug 18, 2006 4:08 pm

Thank you for the helpful info, Bikshu! Can I have the number for your dept please?

Last edited by shan on Sat Aug 19, 2006 12:45 am; edited 1 time in total

Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Aug 18, 2006 5:39 pm

I, too, greatly appreciate your posts, Bikshu, and hope you’ll continue to enlighten us. Thanks!
_________________
Polonius
“Neither a borrower, nor a lender be; For loan oft loses both itself and friend”

Guest: ALex
Posted: Fri Aug 18, 2006 7:55 pm

multiplierx wrote:
That’s the catch with BTs. The fee will accrue interest while the 0% is paid off. You can’t seperate the charges.

The only true 0% BT is 0 fee.

BALANCE TRANSFER FEE IS PART OF THE 0% BALANCE, IT DOES NOT ACCRUE INTEREST.

Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Fri Aug 18, 2006 8:40 pm

Quote:

“ALex”
multiplierx wrote:
That’s the catch with BTs. The fee will accrue interest while the 0% is paid off. You can’t seperate the charges.

The only true 0% BT is 0 fee.

BALANCE TRANSFER FEE IS PART OF THE 0% BALANCE, IT DOES NOT ACCRUE INTEREST.

I saw one or two BT offers that charged the fee to the CASH ADVANCE RATE

So read the fine print real carefully

MOST OF THE TIME IT DOES GO TO THE 0% RATE