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Balance Transfer Fees on Chase Credit Cards

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Credit cards simply are no longer offering the enticing deals in order to lure customers. Even though credit card companies have been willing to offer strong cash back rebates and introductory 0% APR deals, they’ve done so knowing that they can make up the loss through interest rates from defaulted customers and interchange fees. It appears that the issuers are projecting are difficult times ahead.

One way credit card companies have found to still offer enticing deals but lower their risk is to reinstate balance transfer fees. So far, I’ve assembled a list of balance transfer fees on CitiBank credit cards and American Express cards. Here is a run down of what Chase is offering.

Chase charges 5% of the balance transferred, but depending on the card, there is a different upper limit. With savings accounts offering interest rates that are no where near 5%, you must run the numbers to make sure credit card arbitrage is worthwhile. Don’t forget to take into account the possibility that savings account interest rates will continue to decline.

Here are the details:


Updated July 7, 2010 and originally published March 25, 2008.

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About the author

Luke Landes is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about Luke Landes and follow him on Twitter. View all articles by .

{ 1 comment… read it below or add one }

avatar 1 Anonymous

I got an offer for 0% BT with a 3% transaction fee… but there was no cap! Talk about totally not worth it. After taking into the transaction fee and taxes, it’s pennies to the dollar.

Looks like this gravy train is running dry. Wonder what the next consumer money maker will be.

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