Thread Options
#138303 - 12/10/03 07:25 PM 0% APR on balance transfers?
Jokerman Offline
10K Club
Joined: Nov 2003
Posts: 12,846

How can a solicitation advertise a "0% APR on balance transfers" if there is a 3% balance transfer fee? Why would a transfer fee not be considered a finance charge?

Return to Top
Lending Compliance
#138304 - 12/10/03 09:48 PM Re: 0% APR on balance transfers?
New Hat Offline
New Poster
New Hat
Joined: Oct 2003
Posts: 7
Assuming this is open-end credit under Reg Z, then the advertised APR is based on the annualized periodic rate, without regard to what fees are charged.

Return to Top

Moderator:  Andy_Z