BOA sent a balace transfer offer for 0% APR from Jan through June. You can tranfer using either enclosed checks, website, or via toll free number. The only fine print or "*" spelled out the conditions of the 0.0% APR and how it then converts to 7.9% after June 15th if the balance was not paid in full. All "normal" credit card offer stuff.
The second paragraph of the offer states the following:
Use these checks to eliminate other high-rate balances, like loans and credit card payments. Or use them like your personnal checks for any purchase you want. You can also get chash by depositing them into your bnk account. The Cash Advance Fee for this balance transfer offer is 4% with a $5 min and a $75 max per transfer or check used. This fee will post to your account as a cash advance fee and receive a cash advance rate.
The way my wife and I read this is if you use this as a cash advance, then these fees of upto $75 (which is charged as a cash advance) will be assesed per check used. However, if the checks are used to pay off other accounts, then they receive a 0% APR until June 15th.
Well, no saving grace for us. Just for anyone else out there, from one consumer to another, read, read, and after you read the third time, call for clarification. We have been with Bank of America for about 11 years and never had a problem. It is a good bank, but with times like today we all try to make a quick buck or two!
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