Received what seems like a decent "pre-qualified" offer from Fleet Boston. 0% BT and, 0%APR (both until 4/05) and no annual fee. I have a CapOne Balance I can transfer (had built up credit limit to show high credit on CR). Also, according to PG, my Equifax score is 672. My question is, the consumer info states the following Variable Rate Information: Purchases and balance transfers: the higher of (a) minimum rate of 8.99% APR (.02463% daily periodic rate) or (b) LIBOR + 7.830%. What is LIBOR? Would my APR be 8.99%? I would really like to get this card before the merger goes through, I had a BOA credit card years ago, that was charged-off. This fell off my CR about 2 years ago and currently I am banking with them but afraid to apply for a credit card with them. Thanks in advance for any help ;-)
Re: Re: Fleet Boston Offer LIBOR is an abbreviation for "London Interbank Offered Rate," and is the interest rate offered by a specific group of London banks for U.S. dollar deposits of a stated maturity. LIBOR is used as a base index for setting rates of some adjustable rate financial instruments, including Adjustable Rate Mortgages (ARMs).
Re: Re: Fleet Boston Offer Well, I just applied. According to website, they will notify me within 2 weeks. I guess we'll see.
Re: Re: Fleet Boston Offer Fleet blows...If you do get it, pray that BofA quickly issues one of their cards.
Re: Re: Re: Fleet Boston Offer It takes about 1-2 business days to find out. The telephone number to call is 800-570-6400.
Thanks everyone for the advice. I will look the paperwork over when I get home from work this evening. Even if it is 8.9% on BT, it is better than the 14.9% I am paying and hopefully it will put me back in BOA's good graces. Also, sorry for the duplicate post, I'm not sure what happened.
Re: Re: Re: Fleet Boston Offer Brad is right - I'm waiting for my Fleet card to become BofA. Fleet stinks and will treat you like crap.
