Credit Cards

Tips, news, reviews, caveats, trends, updates and analysis related to consumer and business credit cards, and prepaid debit cards. From the interest rate specialists @ FedPrimeRate.com

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 www.BalanceTransfer.cc 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: oh....ok....so 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 www.BalanceTransfer.cc, 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!

Labels: , ,


--> www.FedPrimeRate.com Privacy Policy <--

>  SITEMAP  <

0 Comments:

Post a Comment

<< Home


bing

bing


SCAMS!

FedPrimeRate.com
Entire Website © 2024 FedPrimeRate.comSM


This website is neither affiliated nor associated with The United States Federal Reserve
in any way. Information in this website is provided for educational purposes only. The owners
of this website make no warranties with respect to any and all content contained within this
website. Consult a financial professional before making important decisions related to any
investment or loan product, including, but not limited to, business loans, personal loans,
education loans, first or second mortgages, credit cards, car loans or any type of insurance.