$10,000 credit line, Chase won't do ANY balance transfer?

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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nachtliche
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$10,000 credit line, Chase won't do ANY balance transfer?

Postby nachtliche » Wed Dec 08, 2010 9:35 pm

I haven't used my Chase visa in over a year. I have good credit, I originally had about $1500 on the card that I paid off. I called Chase to see if they had any balance transfer offers, and they said no. They said they won't do any balance transfer at any rate! I can only use it for purchases, and their rate sucks like most cards now, it's a whopping 19.24% APR. I have other cards that are 9.9 - 10.9. Is this the same situation for other chase card holders out there?


Generallisimo
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Postby Generallisimo » Wed Dec 08, 2010 11:18 pm

I continuously receive those 0% "checks" in the mail from them; they can be used for balance transfers. It's really annoying to have to write 'void' and tear them up each time as the fee does not actually make it free to use.

Do you have a cash advance limit? Maybe it is related to that (as for some reason I believe that is the limit my checks and balance transfers cannot go above)? Is you card the Freedom or something else?

Also, this $1,500 you had on the card, was it a 0% balance transfer offer that you paid off before interest was due? I read elsewhere in this forum that they basically blacklist you if you continually transfer balances between cards and pay them off before any interest rates kick in because, obviously, they don't make any money when you do that and don't stand to gain anything by allowing you to continue to do that.

nachtliche
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Postby nachtliche » Wed Dec 08, 2010 11:48 pm

Alright I mixed this up with another card. My balance was much higher, about $8500, I took advantage of a 0% balance transfer option, and later a 9.9% offer. I paid both off with no late fees, but I did pay interest on the 9.9% obviously. Looks like they were really hoping I would miss payments or not pay off the 0% in time, so they blacklisted me?! Crazy. Can I cancel the card and apply again, or is it a permanent type of blacklist? I just have a regular "Chase Visa" card, it doesn't say freedom or anything.

Generallisimo
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Postby Generallisimo » Fri Dec 10, 2010 2:35 am

It's not guaranteed they blacklisted you, that is just a possibility that I read elsewhere in this forum. But it does make sense to me as they are losing money when you do that and well, banks learn quickly how to stop losing money (but sometimes unlearn what they have learned and repeat everything all over again).

I don't get it, what Chase card is unbranded? It's either Freedom, Slate, Sapphire or one of the airline cards. I guess you really do have a unique card that doesn't allow balance transfers. Ask for a copy of the agreement, or at least try to find the "truth in lending disclosures" information which tells you the APR on purchase, cash and balance transfer options as well as the annual fee of the card. If they don't accept balance transfer, it'll be obvious on that disclosure page (I would think so).

jordanCC
 
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Postby jordanCC » Sun Dec 12, 2010 5:59 pm

I used to get offers for credit cards for balance transfers all the time but after using them continuously for two years I stopped getting them. Think I was flagged as a rate surfer.

nachtliche
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Postby nachtliche » Tue Dec 14, 2010 2:28 pm

I didn't cancel my existing chase card, but I applied for a new Chase Freedom and got instantly approved with 0% balance transfer offer :)



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