Credit Cards

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Monday, November 24, 2008

Yes: BofA Pet Rewards Is Still A No Fee Balance Transfer Credit Card

Bank of America Pet Rewards Credit Card
Bank of America Pet Rewards Credit Card
Every month, I take a tour of the terms and conditions associated with the credit cards we recommend at the website. I do this to make sure that the cards we are recommending still deserve to be recommended by us. This time around, I found something that would have been a real downer for those looking to transfer credit card balances to a 0% offer that doesn't charge a balance transfer fee. The most popular "no fee balance transfer" 0% credit card right now is the Bank of America Pet Rewards Visa® card, no doubt because it's now the only 0% intro APR balance transfer credit card from a big-name bank to which you can transfer balances and pay no transaction fee.

When I checked this card's terms and conditions, I wasn't able to find any language stipulating that balances can be transferred to this card during the introductory period without incurring a fee. So I visited the Bank of America (BofA) site and clicked a link that initiated a real-time, online conversation with a BofA customer service representative (CSR). Here is how that online conversation went (I've copied and pasted the transcript below):

"Thank you for choosing Bank of America. An operator will be with you shortly. You are now chatting with MarLon.

MarLon: Hello, I specialize in assisting with new personal credit card applications. How may I assist you today?

you: hello

MarLon: How are you today?

you: i thought the Pet Rewards card had no balance transfer fee. This card has a transaction fee on balance transfers now??

MarLon: It does.

you: a fee on balance transfers, even the introductory balance transfers?

you: OK, well that's all I wanted to clarify

MarLon: Introductory 0%† APR for Balance Transfers*, Check Cash Advances, and Direct Deposits through your first 6 billing cycles. (These transactions are subject to a 3% transaction fee, no less than $10. Intro APR will end if late or over limit. Payments are applied to lower rate balances first.)

you: does BofA have any cards that don't charge a transaction fee on transferred balances????

MarLon: Not for the 0% offers.

you: ok....thanks

MarLon: Actually the Pet Rewards card have no transaction fee during the intro period.

MarLon: It does thereafter.

MarLon: Click here.

you: no fee on introductory balance transfers????

MarLon: Right.

you: OK...thanks...I need to be sure, not just for me but for others. I recommend cards on certain websites and forums

MarLon: Thank you.

you: ok...thanks

you: have a great evening

Last text message received MarLon: You're welcome! Have a great evening as well!"

FYI: Ever since the BofA Pet Rewards card stole the #1 spot as the most popular card at, the second most popular card on this site has been the Discover More American Flag card. Discover More still offers 0% intro APR on both new purchases and introductory balance transfers, and it also has the most consumer-friendly rewards program in the American market. You just can't beat 5% cash back! Enjoy!

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