Just a heads-up to those of us with Bank of America/MBNA credit cards.

When I log in, usually a 0.99% (thru 9/2008) or 1.99 (thru 1/2009) shows up for me as Promo BT offers (BT fee capped at $75). I was going to do the BT direct deposit online, but wanted to reallocate some credit limit from 1 card to another, so I had to call up.

While talking to the rep, he stated that he can offer me a 1.00% thru 1/2009 with a still capped $75 BT fee. I asked if he could waive the $75 fee, and after going back and forth a bit, he was able to waive the fee.

Also, he lowered by APR for purchases (never carry a balance anyways) to a fixed 7.99%.

To recap:
1.00% APR thru Jan. 2009
$0 BT Fee
Purchase APR lowered to fixed 7.99%.

Took about 4 mins to get done by phone.

Will they let you transfer a balance out of a mortgage from BofA onto a credit card at a lower rate? I have mortgage bills I'm trying to find a way to pay off cheaper. I am unable to refi, as the mortgage is through a friend...

Please put APR & Expiration Date in the Thread Title.
IMO 1% for 8 month is not such a hot deal, even with no fees.

fotomaniak said:Please put APR & Expiration Date in the Thread Title.
IMO 1% for 8 month is not such a hot deal, even with no fees.

Yeah, with the interest rates down so far right now, even on reward checking, I am not sure that I would put the trouble in to deal with BoA. Most of this is based on cost of my previous experiences vs. reward of only about 3%.

fotomaniak said:Please put APR & Expiration Date in the Thread Title.
IMO 1% for 8 month is not such a hot deal, even with no fees.

I disagree too. I got a 10 mo. version of this back in Sep'07, and given that BOA just puts money into your checking account it's pretty sweet.

As long as BofA loses money, it's surely worth it! They're by far the worst financial institution I have ever dealt with at varying levels.

fotomaniak said:fwvisitor said:fotomaniak said:Please put APR & Expiration Date in the Thread Title.
IMO 1% for 8 month is not such a hot deal, even with no fees.

why not?

20K at 1% for 8 months at 3% yield nets 180 dollars after tax. Sounds like a 45$/hr pay to me. FIne
yeah, but 0% for 12 month is better, even with $75 fee: you make $357 after tax

btw if you borrow 20K @ 1% you'll make less than $180. You pay taxes on the 3%, not just on the difference. Unles you itemize and report AOR income as investment income.

you'll pay 1% which is %133.333 in interest (20000/100*8/12)
you'll earn 3% which is $400, after 28% tax it's $288, substract $133 and you'll get $155
Given that you usually have to pay off a little sooner (before the statement closing date) you'll get even less.

Anyway, my point is: changing the thread title would save time for people who don't like to bother with deals like this.

My point was this offer was for existing customers who already had the card.

Of course new applicants can very often get 0% for 12 months, but it's quite rare to get a 0% after the introductory periods...so 1% isn't that bad of a deal.

Technologist said:I got 0% on an unused card that I have had at BoA for a while...

LOL! Bring on the haters!!!!!!
You got 0% out of BofA. I hate you.