I just checked my BOA account and BOTH my cards are offerring me 0% BT offers for 12 billing cycles.
Fine print says 3% fee, no max, but I'm hoping customer service will cap it. I don't know if this is for specific cards or if it is for all BOA customers, but it might be worth checking to see if your current BT offer on your card is 0%. I was 2 for 2. This is a big YMMV.
For reference I have the BOA Platinum Visa and the BOA Worldpoints Mastercard.
Having just paid off my $20k 0% BT from 11 months ago, today I decided to call and ask them whether I could get it extended for another 12 months. They had nothing for me, only some Golden LOC or something.
Echoing what Glitch99 said, they also told me that their offers change each week. You can be that I'll keep calling for at least a few weeks.
I've asked them to limit the cap for me before and they wouldn't do it.
If you have to pay a 3% fee it completely defeats the purpose of doing BT arbitrage since you'd have to make at least 3% on the money just to break even BEFORE taxes.
Just get the BOA Platinum Plus card and reallocate your lines toward that to do a No fee BT @ 0%.
Internguy said:If you have to pay a 3% fee it completely defeats the purpose of doing BT arbitrage since you'd have to make at least 3% on the money just to break even BEFORE taxes.
Just get the BOA Platinum Plus card and reallocate your lines toward that to do a No fee BT @ 0%. I don't see how this is going to work, as the terms and conditions of the Platinum Plus Visa Credit Card state:
0% Introductory APR for the first 12 statement Closing Dates following the opening of your account for all Balance Transfers, Check Cash Advances, and Direct Deposits.
Standard Balance Transfer Fee: 3% of each such transaction (minimum $10). See 5 below for explanation. Note 5: We include Transaction Fees when computing finance charges. Incurring Transaction Fees results in an APR exceeding 0% for the billing statement on which those fees appear. The Daily Periodic Rate (DPR) will remain 0% as disclosed.
To me it doesn't looks like there is on cap on the fee and that you have to pay 3% up front. Perhaps you had a different BOA card in mind, if so please post a link to the offer.
SVGuy said:Internguy said:If you have to pay a 3% fee it completely defeats the purpose of doing BT arbitrage since you'd have to make at least 3% on the money just to break even BEFORE taxes.
Just get the BOA Platinum Plus card and reallocate your lines toward that to do a No fee BT @ 0%. I don't see how this is going to work, as the terms and conditions of the Platinum Plus Visa Credit Card state:
0% Introductory APR for the first 12 statement Closing Dates following the opening of your account for all Balance Transfers, Check Cash Advances, and Direct Deposits.
Standard Balance Transfer Fee: 3% of each such transaction (minimum $10). See 5 below for explanation. Note 5: We include Transaction Fees when computing finance charges. Incurring Transaction Fees results in an APR exceeding 0% for the billing statement on which those fees appear. The Daily Periodic Rate (DPR) will remain 0% as disclosed.
To me it doesn't looks like there is on cap on the fee and that you have to pay 3% up front. Perhaps you had a different BOA card in mind, if so please post a link to the offer.Try looking around a bit - there's a no-fee offer out there.
good luck on getting that fee capped, they wont do it in most cases. good luck getting them to move avail credit around to a card with a no fee 0% bt offer, many issuers are not letting you do that either anymore. have fun.
dodgeman007 said:good luck on getting that fee capped, they wont do it in most cases. good luck getting them to move avail credit around to a card with a no fee 0% bt offer, many issuers are not letting you do that either anymore. have fun. BoA loves to do it, just moved $171K CL to a brand new 0% card. CSRs must get some sort of commission, they are very eager to do BTs.
jlgrandam said:I was able to get BofA to move credit lines to a card with a 0% offer.
I just got off the phone with them. They would let me move some money around (both my cards are about 20K). So I moved 15K from one to the other and I was going to BT 32K, but they wouldn't cap the fee. I told them I'd get back to them. The offer is good (for me) until Nov 3.
I'll call back Monday and see if I have better luck. Can't hurt to try.
Edit:
Has ANYONE had luck getting them to cap their fees lately?
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