Sat 24 Mar 2007
Chase Bank No More Limit On Balance Transfer Fees?
Posted by RichSlick under Watch Out
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WATCH OUT!
I received two sets of balance transfer checks from Chase Bank this week and they both included the usual low teaser rates of 0.99% for 6 months or 4.99% for the life of the loan but what caught my eye on both of these offers however was the 3% balance transfer fee but no cap!
Usually the fee is capped at $75 or $90 dollars on these offers but these new checks don’t have any limit which means that a balance transfer of 30k with 3% transfer fee would cost $900!
Is this the end of the arbitrage game?
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Pingback from Unloading 25k of Credit Card Arbitrage » Get Rich Slick
March 24th, 2007 at 6:54 pm[...] I did get balance transfer checks from BOA that capped the BT fee at $90 but others don’t seem to limit the fee. There is a discussion about Citibank doing that here. [...]