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rated:
WSJ 8-26  

The subhead:
"Hunt for Customers Pushes Banks to Revive Terms That Were the Rage in the 1990s"

The lead:
"U.S. credit-card companies, hungry for new customers as many Americans continue to shun debt, are pumping up a popular promotion..."

The unfortunate truth:
"The lenders also make money by charging a one-time fee—usually 3% of the existing balance—for the balance transfer."

How can the terms be "the rage" when there's still a fee!?

My question for the forum: Will these offers heat up soon to the point of no-fee offers? I'm skeptical...

Member Summary
Correction: WSJ 8-27; last edit was done on 8-26.
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My Magic 8 Ball Says: Maybe.

The existance of the fee doesn't matter so much (though no fee would be nice). I made plenty of money on AORs even with fees. However, the problem with the fees now are that they are rarely capped these days, and risk-free interest rates are so low that you can't make enough to offset the fees.

LordKronos said:   The existance of the fee doesn't matter so much (though no fee would be nice). I made plenty of money on AORs even with fees. However, the problem with the fees now are that they are rarely capped these days, and risk-free interest rates are so low that you can't make enough to offset the fees.
  Exactly - there used to be 5%+ CDs available. Too bad I was much younger and didn't have the credit lines available that I do now. I'll keep waiting on the next golden goose. 

For me Barclays has sent me numerous 2% BT fee offers and more recently a 1% BT fee offer, so I'm hopeful.

This is both for Priceline rewards and NFL extras card.

Alliant CU

I appreciate the advance notice of Navy Federal's next 0% offer:
 
WSJ said: Navy Federal Credit Union is starting a promotion in September that offers all of its 4.5 million members, as well as new customers, an interest-free balance transfer for 12 months.
... Randy Hopper, assistant vice president of credit-card lending at Navy Federal, says the teasers are good at attracting customers who already have mortgages or auto loans with the credit union. "We want every one of our members to have a credit card with us, because it is a relationship product," he said. The credit union doesn't charge a fee for interest-free balance transfers.

My old credit union sent me free balance transfer offers after they loaned me money to buy a used car. This was one year ago.

Lately I am still getting the 2% fee offers on BTs from Chase.

boonkauc said:   
LordKronos said:   The existance of the fee doesn't matter so much (though no fee would be nice). I made plenty of money on AORs even with fees. However, the problem with the fees now are that they are rarely capped these days, and risk-free interest rates are so low that you can't make enough to offset the fees.
  Exactly - there used to be 5%+ CDs available. Too bad I was much younger and didn't have the credit lines available that I do now. I'll keep waiting on the next golden goose. 

LordKronos, that's a good way of putting it:  It's the uncapped fees that seem to be a thing of the distant past.

boonkauc, good point. Regarding the golden goose, that's just it: I don't think it will return any time soon, although stranger things have indeed happened.
 

I just got one from Chase Slate. $0 introductory offer for balance transfers within 60 days and 0% on purchase and balance transfers until 11.1.14. Not bad. I always get the best CC deals right after I purchase a house...

bogalusa said:   
boonkauc said:   
LordKronos said:   The existance of the fee doesn't matter so much (though no fee would be nice). I made plenty of money on AORs even with fees. However, the problem with the fees now are that they are rarely capped these days, and risk-free interest rates are so low that you can't make enough to offset the fees.
  Exactly - there used to be 5%+ CDs available. Too bad I was much younger and didn't have the credit lines available that I do now. I'll keep waiting on the next golden goose. 

LordKronos, that's a good way of putting it:  It's the uncapped fees that seem to be a thing of the distant past.

boonkauc, good point. Regarding the golden goose, that's just it: I don't think it will return any time soon, although stranger things have indeed happened.

  
Would 0% for life be asking too much?  I do miss those days, 0% for life (of loan) and 0% BT fees.  I still have two of those offers in effect (and both got rid of the pesky 2 minimum transactions monthly requirement years ago)

I've gotten some offers recently from Discover.. Uncapped 5% fee for 0% APR 12 months, or 0% fee for 9.99% APR 12 months.  Neither is compelling enough for me to bite.  

I started learning about 0% BT offers, etc. just as 0% for life offers began to fade.

PenFed has a 4.99% for life offer going until the end of Sept on most of their cards with no fee. Not quite the bonanza of the glory days, but interesting nonetheless.

anyone get charged a BT fee for this? Looks like I might've.

Are there any "0% APR with 0 transfer fee" public offers besides Chase Slate?

Discover has some no fee 0% options, but just be aware that the credit limits are usually rather low.

rlaw said:   For me Barclays has sent me numerous 2% BT fee offers and more recently a 1% BT fee offer, so I'm hopeful.

This is both for Priceline rewards and NFL extras card.

  Chase, PNC, and Barclays all sent me 1% balance transfer offers after not using the cards after about three months. Chase capped the transfer at 15,000, but the other two did not. PNC now keeps sending them every month with a later expiration date.

bogalusa said:   
boonkauc said:   
LordKronos said:   The existance of the fee doesn't matter so much (though no fee would be nice). I made plenty of money on AORs even with fees. However, the problem with the fees now are that they are rarely capped these days, and risk-free interest rates are so low that you can't make enough to offset the fees.
  Exactly - there used to be 5%+ CDs available. Too bad I was much younger and didn't have the credit lines available that I do now. I'll keep waiting on the next golden goose. 

LordKronos, that's a good way of putting it:  It's the uncapped fees that seem to be a thing of the distant past.

boonkauc, good point. Regarding the golden goose, that's just it: I don't think it will return any time soon, although stranger things have indeed happened.

  You mean capped fees that are a thing of the distant past? Now, they're typically all uncapped.



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