Recently, Chase changed the terms and conditions to many of their online credit card offers, particularly with regard to balance transfer fees.  Previously, Chase was one of the few remaining credit card issuers that still capped balance transfer fees at a set maximum.  For example, 3% per transaction with a maximum fee of $75 or $99 dollars.

However, as has been the case with Bank of America, Citi, and Capital One, Chase has lifted the maximum dollar amount on balance transfer fees to infinity.  For example, if you transfer a $5000 balance to the popular Chase Platinum Visa® Card, the cost will be $150.  Prior to this recent change, it would have been $99.  In contrast, doing a $5000 balance transfer to a Discover Card will only cost you $75.

As we’ve written recently, the credit crunch and resulting turmoil on Wall Street is having a very negative impact on the quality of credit card offers available, even to people with superb credit.  Unfortunately, things are likely to get worse.  Consequently, we continue to encourage anyone who is considering a balance transfer to do it now while decent, low fee 0% offers are still available.

For more information, please see the balance transfer comparison section of this website.