People can say what they will about the blogosphere, but one thing that gets proven true over and over again is that many blogs often beat the mainstream media to the punch by days, weeks, and even months.  Such is the case with a recent story that appeared on abcnews.com regarding balance transfers.

For about six months, our site has been writing about this issue and reading the article by Rich Blake leaves us wondering if he stopped by to learn about the subject before writing his own article.  In it, he points out the issues we have been hammering home since the beginning of spring, namely, 0% rate periods are on the decline, balance transfer fees are increasing, and more and more consumers are having difficulty getting approved for 0% deals. Continue Reading »

According the Wall Street Journal, Bank of America has sent a letter to the Chairman of the House Financial Services Committee vowing to cease rate and fee increases until new credit card laws take effect in February.  This moratorium comes after Bank of America embarked on a nearly year long spree of rate and fee raising.  However, Bank of America has not acted alone.  Nearly every major credit card company has been engaging in these practices which include seemingly arbitrary rate increases, credit limit cuts, and increases on fees for balance transfers, cash advances, and international transactions. Continue Reading »

While many credit card companies have been reducing the length of 0% balance transfer offers and increasing balance transfer fees, good balance transfer deals still exist.  The problem, unfortunately, is getting approved.  A year ago, credit card companies were significantly more generous when it came time to extend credit lines.  Today, consumers with good credit may find themselves getting the cold shoulder when looking to transfer a balance.  Here are a few tips to help navigate today’s credit card landscape: Continue Reading »