Balance Transfer Day fizzles
By Aaron Crowe
Balance Transfer Day -- when consumers were urged to send big banks a message by switching their credit cards with money on them to companies that offered lower interest rates -- came and went without much splash on Dec. 11.
"Take that, big banks, we're moving our business to credit cards with balance transfer promotions," or some screech that customers were supposed to make. In other words, moving their business from one credit card to another was supposed to send a message. That's not much of a message of defiance if you're just going from one bank to another.