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Some Large Bank Card Issuers Back With 0% Transfer Offers

NAPLES, Fla. -- Although many large bank issuers have turned away from the direct mail card offer many have also started offering 0% balance transfer offers on fixed rate cards, according to CardTrak.com (www.cardtrak.com).

By David Morrison | Updated on January 07, 2009

NAPLES, Fla. — Although many large bank issuers have turned away from the direct mail card offer many have also started offering 0% balance transfer offers on fixed rate cards, according to CardTrak.com (www.cardtrak.com).

The site tracks card and payment trends and reported that Bank of America, Chase, CitiGroup, Capital One and American Express have all launched fixed rate cards that carry 0% promotional rates for balances transfers. In the case of Bank of America and CitiGroup, those rates continue for a year or more.

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