Yesterday's post mentioned my "shotgun" approach to transferring my $9000 balance off the BoA card.
(BTW, it's now below $9000. I made a regular payment of $89, and finally got that rebate of $24 from The Weekly Standard, so it's now about $8900)
Well, yesterday everning I get home to find one of my credit cards in the mail. The Chase card. Guess what? $1400 credit limit and a 0% promotion interest for THREE MONTHS!!!! So, I no longer want it. I call to cancel the balance transfer, and am told that once the request is submitted, it's humanly impossible to stop it. So I call BoA to have it stopped on that end. And am told that they can't stop incoming payments, only outgoing payments. Even if I closed my account, the incoming payment would still be posted. They can send it back once it's posted, but by them Chase will have charged me the 3%. I don't mind paying that 3% if the balance was good for 12 months, but not for 3. So now I'll either have to buckle down and get that $900 or so paid off in 3 months, or pay the 3% fee TWICE on the same balance.
I wish that credit card companies would tell you the terms that you qualify for BEFORE you recieve the card. Like in a regular loan. No one signs loan paperwork blind, but you do for a credit card. Once you sign, you're stuck recieving a card at whatever terms they decide.
I'm not a big fan of Chase this morning...
Hit by the richochet
June 5th, 2009 at 04:21 pm
June 5th, 2009 at 04:27 pm 1244215670
June 6th, 2009 at 02:39 am 1244252390