Comments on: Beware of Bank of America No Fee Balance Transfers http://www.creditcardwatcher.com/beware-of-bank-of-america-no-fee-balance-transfers/ Keeping an eye on the best credit card offers Tue, 07 Feb 2012 07:43:04 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Curt http://www.creditcardwatcher.com/beware-of-bank-of-america-no-fee-balance-transfers/#comment-1576 Curt Thu, 21 Feb 2008 01:26:53 +0000 http://www.creditcardwatcher.com/beware-of-bank-of-america-no-fee-balance-transfers/#comment-1576 I believe this practice is illegal but most of the major credit card banks are doing it now. If they say 0% APR the 3% fee should be included. What kind of math comes up with a 0% APR when they are charging 3% on the entire balance? This FEE is Interest and everyone knows it. This is the Bush Administration NOT doing it's job to enforce the Truth in Lending laws. I have successfully argued this issue with one of my Credit Card providers (not BofA) and they gave me the 0% rate for 12 months with only a $75 fee. In my case the 3% would have been over $1,000. Lenders who violate the truth in lending laws should be brought to the Attorney General's office of every state in the Country. The only reason this practice has evolved is because it's going unchallenged! I believe this practice is illegal but most of the major credit card banks are doing it now. If they say 0% APR the 3% fee should be included. What kind of math comes up with a 0% APR when they are charging 3% on the entire balance? This FEE is Interest and everyone knows it. This is the Bush Administration NOT doing it’s job to enforce the Truth in Lending laws. I have successfully argued this issue with one of my Credit Card providers (not BofA) and they gave me the 0% rate for 12 months with only a $75 fee.
In my case the 3% would have been over $1,000.
Lenders who violate the truth in lending laws should be brought to the Attorney General’s office of every state in the Country. The only reason this practice has evolved is because it’s going unchallenged!

]]> By: stella http://www.creditcardwatcher.com/beware-of-bank-of-america-no-fee-balance-transfers/#comment-461 stella Mon, 19 Mar 2007 04:23:36 +0000 http://www.creditcardwatcher.com/beware-of-bank-of-america-no-fee-balance-transfers/#comment-461 Beware BofA. When I was unable to make online payments on time due to problems with their website, I talked to tech support and customer service who waived the late fees but neglected to tell me that they had upped my rate by over 12%. I didn't find out until months later. Their customer service was curt, discourteous and unhelpful. I've never had a credit card company treat me so outrageously. Beware BofA. When I was unable to make online payments on time due to problems with their website, I talked to tech support and customer service who waived the late fees but neglected to tell me that they had upped my rate by over 12%. I didn’t find out until months later. Their customer service was curt, discourteous and unhelpful. I’ve never had a credit card company treat me so outrageously.

]]> By: Manoj http://www.creditcardwatcher.com/beware-of-bank-of-america-no-fee-balance-transfers/#comment-382 Manoj Tue, 23 Jan 2007 19:09:55 +0000 http://www.creditcardwatcher.com/beware-of-bank-of-america-no-fee-balance-transfers/#comment-382 BofA's Motley Fool CC has 0% apr for 12 months on balance transfer with no transfer fee if the transfer is requested within the application. However, after doing the balance transfer I was charged the 3% (without cap) transaction fee and when I disputed this with their phone rep, she asked me to show the proof on their web site. It was easy as the offer had not changed since I applied and they refunded the transaction fee. BofA’s Motley Fool CC has 0% apr for 12 months on balance transfer with no transfer fee if the transfer is requested within the application.

However, after doing the balance transfer I was charged the 3% (without cap) transaction fee and when I disputed this with their phone rep, she asked me to show the proof on their web site. It was easy as the offer had not changed since I applied and they refunded the transaction fee.

]]> By: Brian H http://www.creditcardwatcher.com/beware-of-bank-of-america-no-fee-balance-transfers/#comment-380 Brian H Fri, 12 Jan 2007 20:36:57 +0000 http://www.creditcardwatcher.com/beware-of-bank-of-america-no-fee-balance-transfers/#comment-380 Good info. I have a bankruptcy recovery site, and I will mention this site. My readers need this kind of updated info. Great stuff! Good info. I have a bankruptcy recovery site, and I will mention this site. My readers need this kind of updated info. Great stuff!

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