Tips for Using Bank of America Cards
May 3rd, 2007Credit card balance transfers offered through Bank of America cards can have many disadvantages. There are many things to consider before proceeding with a credit card balance transfer application. Credit card companies may charge a transaction fee for transferring the account, which can be as high as four percent of the balance amount. A delay in monthly payments can also lead to a sudden rise in interest rates. Credit card companies usually advertise low interest on balance transfers prominently, but they may not specify the hidden costs. You should carefully read the major terms and conditions that are usually specified in small print in the Bank of America cards balance transfer offer. People who fail to read this information and go ahead with credit card balance transfer application can suffer from these disadvantages.
