Comments on: Use Low Interest Lifetime Balance Transfers To Pay Off Credit Card Debt

By: Palik

Palik — Sat, 24 Oct 2009 02:44:02 +0000

If you are having unfair dealings with these Banks and Credit Card Companies, Call or file a complaint with the Better Business Bureau (BBB) at http://columbia.bbb.org/

If they substantiate enough cases, they will fine them and if it continues, they eventually shut them down.

Palik

By: elizabeth

elizabeth — Fri, 09 Oct 2009 16:52:31 +0000

Hi all -
I’m in $17K of debt, newly divorced, newly relocated across the country,
single mom of special needs child and now caretaker of dad w/alzheimer’s.
No time for a job, however taking piano students as I can. Don’t have much income currently.

My husband having left, plus need for food/heat/medical caused massive
debt this past year (about 80% credit cards).
How should I handle this??? Attorneys don’t advise
bankruptcy as my divorce is still pending. (Not sure if much $ is to be gleaned there.)
AAH! I need to take action, but what should I do??? Ideas???
Thanks

By: Jeff

Jeff — Wed, 19 Aug 2009 20:06:13 +0000

Just wanted to post that even on the fix rate life balance transfers you have to be careful. I had one and resently they up my rate. Said they send out a notice of changes of terms and if you didnt refuse them (If you can even understand them) they increase your rate even if you have always paid on time and never late.

By: carlos benavides

carlos benavides — Wed, 12 Aug 2009 19:06:26 +0000

Hi I have a question. If you have transferred an amount and added some purchases to your card, are you able to pay the higher interest part of your credit card? I have some transfers at 3.99 and some purchases at 14%. I pay over the amount due every month but it just goes straight to the lower interest part of the credit card. Any thoughts?

By: Jd

Jd — Tue, 04 Aug 2009 12:53:33 +0000

Hi there I would like to find out more about these cards? I tried going to the card sites and can’t seem to find them any where? I am most interested in the low interest life of the loan/transfer. Please email with any help…..Thanks

By: BigJack

BigJack — Sat, 01 Aug 2009 21:53:51 +0000

What are the alternatives to using 0% balance transfer cards whether for life or just for a period of 12 months or more? I’ve heard about so-called balance transfer alternatives like p2p loans through online peer lending companies like Lending Club, Prosper – are they legit?

By: fassd.com

fassd.com — Sun, 26 Jul 2009 09:24:42 +0000

Most high interest credit cards are usually easy to get and really the interest rate only matters if you roll over your balances from month to month. People that have had bankruptcies, judgments or just have a bad credit rating, for what ever reason are the most common applicants for high interest credit cards.

By: Robyn

Robyn — Mon, 13 Jul 2009 18:08:03 +0000

I would also like to know about credit cards with low (below 5% preferably) interest for life on transferred debt. I have about $30,000 of debt to take care of and an excellent credit rating.

By: Naomi Caranto

Naomi Caranto — Thu, 09 Jul 2009 03:54:38 +0000

Please send me more information on “Fixed Low Interest Lifetime Balance Transfers” to pay credit card debts. Can you recommend one that is BBB certified?

Please advise,
Naomi Caranto

By: jennifer

jennifer — Sat, 20 Jun 2009 23:07:03 +0000

Please e-mail me the card that gives you the low fixed apr for lifetime balance of the transfers. I am going crazy with all I got going on. Please send soon have a payment due and cant pay it.

By: Savvy Consumer

Savvy Consumer — Wed, 27 May 2009 09:46:10 +0000

I found the way around the Discover card’s requirement of 2 purchases per month to keep the 0% rate. I set up two Paypal accounts. On one of them I set up a subscription billing of $0.01 per month (twice) and billed my other Paypal account. I then use that 2nd acct to “pay” myself via the Discover card $0.02 per month. I am then only accruing $0.52 per month on the purchase side, while paying down the 0% loan on the other side. The 0% money is sitting in a bank account accruing interest, so I’m making money on their money and beating the system… so far.

By: Sandy

Sandy — Tue, 26 May 2009 17:33:54 +0000

Hi Brenda. Regarding consolidation @ 3% or keeping what you have @ 7%. Remember, that the 3% goes against each balance that you transfer. So, that being said, if you have only 2 cards multiply 3% against each balance and that is how much you pay to do the transfer. Not customer friendly. I would stick with 7% myself. I would research the snot out of what is out there and you will know when the time is right to make a move. Firstly, if the “life time” % changes then that’s a red flag for you to change. Hope this helps.

By: Raymond

Raymond — Fri, 01 May 2009 09:47:16 +0000

Dustin,

I hear your credit card pain. It is quite terrible when banks and credit card issuers lower the spending limits on existing credit card accounts as this has the potential to really damage your ongoing FICO credit score. Credit score calculations are derived in large part on your total overall credit utilization ratio. The closer you are to your maximum card limits in terms of your existing balances, the lower your credit score may be.

I don’t think this is an isolated occurrence happening with Bank of America credit cards. I think all of the major card issuers like Citibank, Chase, American Express, and maybe even Discover are possibly engaging in this practice at the present time. Times are tough…

By: Dustin

Dustin — Tue, 28 Apr 2009 18:30:49 +0000

2 days ago I requested a balance transfer from Bank Of America on my Mastercard account. Yesterday, I logged in to the website to check the status, and was surprised to find that 2 of my credit card account limits had been lowered to within $200 of the current balance. Both accounts had always been paid on time, and both had high limits. I called and the customer service agent told me that my credit report had been reviewed by the bank, and that they felt I had sufficent credit available even with the lower limits in place. Be careful with Bank of America, because they did this without any written notice, or phone call, or e-mail. Luckily, i have plenty of available credit elsewhere if I need it, so I was able to tell them to close both accounts immediately. I will try my best to stay celar fo B of A in the future as a result of this incident.

By: annie

annie — Fri, 24 Apr 2009 06:13:18 +0000

i have paid my bank of america transfer on time and above the minimum payment. when i opened my statement the other day..they had applied two payments for two months into one payment for one month

then they said i was late…took away my zero interest..charged me a late fee and $100.00 in interest even though they received payment.

the robots in customer service said they saw their mistake but wouldnt change it.

it is time the public starts to fight back against these banks especially people that pay their bills on time.