Are NO Fee Balance Transfer Credit Cards a thing of the past?
Just read Joe Resendiz financial whiz article about Best Credit Cards with No Balance Transfer Fee. I checked each one of them including the Edward Jones World Master Card and Alliant. NONE OF THEM had a zero Balance Transfer Fee.
Was surprised at the disinformation and the lack of due diligence and substantive research practiced by a guy who normally prides himself in being a reliable financial services writer. Lending Tree and Value Penquin need to vet their human resources better in a time were many are experiencing hardship, depression and suicidal ideation.
Tracy Brackman writing for compare cards at lending tree is also mistaken about her claim that Choice Rewards World Mastercard® from First Tech FCU card has NO BALANCE TRANSFER FEE. None of the other cards she mentioned have ZERO BALANCE TRANSFER FEE either!!
ReplyDeleteSara Rathner did a decent job of explaining way places like Bank of America screwed themselves over by allowing customers to have no fee balance transfer cards. The vast majority never EVER used the card OTHER THAN AN INTEREST FREE LOAN and then transferred to another card!
ReplyDeleteBanks and credit card companies are monitoring consumer debt eligibility much more cautiously during this COVID induced economic slowdown or perhaps even an extended depression!
Sexy Sara also stated minimum credit score required to qualify for balance transfer cards has been increased significantly.
Robert I. Simon, MD would not necessarily agree with your usage of suicidal ideation which actually more germane to incurable addiction than a "mental disorder".
DeleteNo doubt that financial misery can make anybody consider extinguishing their own life. Kathryn J. Fraser essentially concurs with a few nuanced distinctions.
Tangentially the correlates between these considerations and the incidence of suicidal ideation among community-dwelling adults has a different trajectory which sometimes correlates to short term financial and health scare crisis!
Michael Pruser wrote that the Amex Every Day Credit card was a "no fee, 0% APR" balance transfer card. Michael Pruser was mistaken in his claim and will suffer in terms of a declining professional finance guy reputation if he continues to write poorly researched and false financial articles.
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