Worst deal yet from my credit card company on a balance transfer

[StageLeft]

boa.jpg

This is Bank of America. I've had the account for 8 years, flawless history with them, high credit rating. I used to run a few k through this account but now maybe $500/month and pay it off constantly, at least twice/month. This is the best deal they can offer this account. I like how they can raise to default rates without any notice. Also, 4% transaction fee is higher than they normally have been in the past (like around 3). I'm also fairly sure at least years ago they had a cap on how much, like $75, their initial fee would be.

On my other account they were willing to give me money at 8.99%. Both of these accounts even just a few months ago were willing to lend at .99 and 2.99.

At least citi still offers at 0 or .99 but again the 3% fee is quite a lot. and no cap.

 

[Mursilis]

Really though, what do you expect? It's not like you're making them much money, unlike the dummies who barely pay the minimum each month and float a couple thousand at 20% or whatever. With a credit card, all I care about is the monthy fee (better be 0) and the rewards. My interest rate can be 50% for all I care, just as long as there's a grace period.

 

[Gonad the Barbarian]

If you're one of the suckers still paying your bills you're going to get the shaft subsidizing all the jackasses who stopped paying theirs. I'm seriously considering being one of those jackasses.

 

[Ausm]

Originally posted by: Skoorb
boa.jpg

This is Bank of America. I've had the account for 8 years, flawless history with them, high credit rating. I used to run a few k through this account but now maybe $500/month and pay it off constantly, at least twice/month. This is the best deal they can offer this account. I like how they can raise to default rates without any notice. Also, 4% transaction fee is higher than they normally have been in the past (like around 3). I'm also fairly sure at least years ago they had a cap on how much, like $75, their initial fee would be.

On my other account they were willing to give me money at 8.99%. Both of these accounts even just a few months ago were willing to lend at .99 and 2.99.

At least citi still offers at 0 or .99 but again the 3% fee is quite a lot. and no cap.

I would go with Citi because they are about to go under and maybe your debts would go bye bye since they owe us a SHITlOAD of cash...Then I woke up.

 

[StageLeft]

Originally posted by: Mursilis
Really though, what do you expect? It's not like you're making them much money, unlike the dummies who barely pay the minimum each month and float a couple thousand at 20% or whatever. With a credit card, all I care about is the monthy fee (better be 0) and the rewards. My interest rate can be 50% for all I care, just as long as there's a grace period.

Really, though, what do they expect? They think a guy who barely uses his card and pays it off whenever it hits a couple of hundred bucks is a) a big credit risk and b) going to be enticed by a 13% APR?

If you're one of the suckers still paying your bills you're going to get the shaft subsidizing all the jackasses who stopped paying theirs. I'm seriously considering being one of those jackasses.

A lot of people say this but nearly nobody does; you'll continue to pay your bills while you can because the alternative is much worse.

 

[JSt0rm]

If your credit is as you say it is you should call them. They will go down to 9.99% They raised my rates from 7.9 to 12.99 and I called and they dropped it to 9.99%