No Fee 0% Balance Transfers from Citi Ending?

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I received a notice in the mail yesterday from Citi stating that they would start charging balance transfer fees of 3% with no maximum ($5 minimum) starting April 3rd. Some Fatwalleters have reported getting these as well. The notice itself stated that this would be effective on the cards I already have so there’s no information as to whether no fee 0% balance transfers (and thus the balance transfer arbitraging that many people are now doing) is coming to an end but it’s certainly an ominous notice to be getting in the mail.

So, if you’ve thought about doing the balance transfer arbitrage thing, I’d get on it because the opportunity might be slipping on these. Here’s a quick hitlist of posts I’ve done on balance transfer arbitrage:

{ 2 comments, please add your thoughts now! }

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2 Responses to “No Fee 0% Balance Transfers from Citi Ending?”

  1. Thanks for the heads-up! I was planning an App-o-rama for my wife to be done in the next few weeks, so I will go ahead and move the timetable up a bit.

  2. Mark says:

    It’s the end of 2008 and it seems that Citi, Chase, and others are easing back on the balance transfer offers. For months I saw my statements padded with offers and just like that they dried up without warning. I enjoyed the offers considering for $75 max on my Citi card I was able to invest the money in a 4% savings account and recoup my savings plus more….

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