Comments on: Balance Transfer Fees on American Express Credit Cards http://www.consumerismcommentary.com/2008/03/12/balance-transfer-fees-on-american-express-credit-cards/ A premiere personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sat, 21 Nov 2009 16:42:00 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Tara http://www.consumerismcommentary.com/2008/03/12/balance-transfer-fees-on-american-express-credit-cards/#comment-180555 Tara Sat, 13 Sep 2008 13:44:08 +0000 http://www.consumerismcommentary.com/2008/03/12/balance-transfer-fees-on-american-express-credit-cards/#comment-180555 I apologize if I am inquiring about this in the wrong thread; however, I am trying to transfer my balances over to one card and I'm reading the rates at american express and need help interpreting what it means. The card is 0% introductory rate for 15 months but on balance transfers submitted with this application and/or within the first 30 days of cardmembership, it's 4.99% for life of balance. After the 30 days it goes in as a regular purchase. If I know I would be able to pay off the balance within 12 months should I wait til after the first 30 days and have it go in as a purchase and only pay the transfer fee but no APR? Or does the 4.99% get added on after the 15 months? I think what I'm asking is, what happens within the first 30 days with balance transfers vs. after the 30 days and if I know I would be able to pay my balance before the end of the introductory period, what would be the best option for me? I apologize if I am inquiring about this in the wrong thread; however, I am trying to transfer my balances over to one card and I’m reading the rates at american express and need help interpreting what it means. The card is 0% introductory rate for 15 months but on balance transfers submitted with this application and/or within the first 30 days of cardmembership, it’s 4.99% for life of balance. After the 30 days it goes in as a regular purchase. If I know I would be able to pay off the balance within 12 months should I wait til after the first 30 days and have it go in as a purchase and only pay the transfer fee but no APR? Or does the 4.99% get added on after the 15 months?

I think what I’m asking is, what happens within the first 30 days with balance transfers vs. after the 30 days and if I know I would be able to pay my balance before the end of the introductory period, what would be the best option for me?

]]> By: Flexo http://www.consumerismcommentary.com/2008/03/12/balance-transfer-fees-on-american-express-credit-cards/#comment-139851 Flexo Wed, 12 Mar 2008 20:38:28 +0000 http://www.consumerismcommentary.com/2008/03/12/balance-transfer-fees-on-american-express-credit-cards/#comment-139851 Steve: True -- the rate is usually easy to find in the introductory offer. The fee is usually buried. That is why I'm compiling this list. At some point, I'll go back and update the list of APRs on introductory balance transfer offers, but they're not nearly as great as they used to be. Steve: True — the rate is usually easy to find in the introductory offer. The fee is usually buried. That is why I’m compiling this list. At some point, I’ll go back and update the list of APRs on introductory balance transfer offers, but they’re not nearly as great as they used to be.

]]> By: Steve http://www.consumerismcommentary.com/2008/03/12/balance-transfer-fees-on-american-express-credit-cards/#comment-139824 Steve Wed, 12 Mar 2008 15:26:45 +0000 http://www.consumerismcommentary.com/2008/03/12/balance-transfer-fees-on-american-express-credit-cards/#comment-139824 Are there all 0% balance transfers offered by these cards? If not, I am not really sure why the fee alone is important. The fee and the rate need to be examined together. Are there all 0% balance transfers offered by these cards? If not, I am not really sure why the fee alone is important. The fee and the rate need to be examined together.

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