Wednesday, December 19

Is this Deceptive Advertising?

I received "A Special Offer for a Valued Chase Visa Customer" in the mail today.  A promotional fixed rate of 6.99% Fixed APR until the Balance is Paid Off!  What a deal, save for the 3% balance transfer fee.
Here is the rub.  The second sentence of this offer certainly puts quite spin on the balance transfer fee.  It reads;
"This offer includes a fee of 3% of the amount of each transation.  This transaction fee has a $5 minimum and no maximum."
No, I didn't add the emphasis by underlining the no maximum part; that's exactly how it appears on the offer that I received.
I'm sure that this simply is saying that there is no maximum fee, that it can be as high as anything!  However, at first glance, it appears to be offering some sort of benefit.
Am I out in left field or does it look that way to you too?