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Latest blog posts from Balance Transfers Blog

Balance Transfer Checks - Balance Transfers Catch-22’s - Part II
In our first discussion of balance transfer Catch-22’s, we discussed how credit card companies can increase minimum monthly payments on consumers that utilize a high percentage of their available balance.  And, while having a higher monthly payment is no walk in the park, that fine print snag...
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0% Balance Transfer Catch-22’s - Part I
Joseph Heller’s famous novel Catch-22 is a much easier read than the fine print of a credit card statement, though both the novel and the fine print share unfortunate similarities.  In this, the first of a series of articles aimed at helping consumers understand fine print, we’ll tackle an...
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Published

Should You Transfer Balances Online?
A month ago, the answer to this question was yes.  In the past two weeks, however, this answer has changed.  Recent data and visitor feedback suggests that people who opt to transfer balances online may decrease their odds of getting approved.  Additionally, with many credit card companies,...
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Published

Credit Limits cut by Credit Card Companies
News of credit card companies slicing the credit limits on consumer and small business credit cards has been in the news for quite some time.  However, a report yesterday discussed on CNBC and noted in today’s Wall Street Journal, an astonishing 60% of credit card companies are slashing...
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Published

Balance Transfer Fee Update
Over the past year, we’ve seen no fee balance transfer offers disappear and balance transfer fees rise dramatically.  One of the remaining bright spots has been Discover, which had been limiting its balance transfer fees to the lesser of 3% or $75.  All of this will change on November 1st. On...
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Published

Balance Transfer Credit Limits and the Credit Crunch
Visitors to Smart Balance Transfers often write in wishing to know what cards offer high credit limits for balance transfers.  Unfortunately, the answer to this question is not very cut and dry.  In a nutshell, the best answer is:  it depends.  And, as the credit crunch has intensified,...
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Published

Balance Transfer Problems Ahead?
I’ve been warning readers about potential problems in the balance transfer market for some time now (see http://www.smartbalancetransfers.com/blog/2008/09/0-balance-transfers-regulations/,...
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American Express Balance Transfers
American Express targets their credit cards to big spending consumers.  However, over the past few years, American Express has offered a great deal on fixed APR for life balance transfers with many of their credit cards.  However, as we reported last month, American Express is no longer...
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www.mycapitalonecard.com
Capital One has recently updated a number of their credit cards offered online.  Here are some current offers for www.mycapitalonecard.com mail offer recipients to consider.  Because these offers update frequently, we suggest reviewing the card offer by clicking the card name to get complete...
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How Much Money Can a Balance Transfer Save You?
Okay.  Its time to pull out your credit card statement and take a look at your monthly interest expense.  What you find might not be pleasant.  We plugged some numbers into our balance transfer calculator to estimate the monthly cost of carrying a balance on a credit card with a standard...
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