MIAMI – Balance Transfer Day, a Facebook campaign launched in the wake of the highly publicized Bank Transfer Day, has been revealed to not be as independent as the latter’s motivations.
Bank Transfer Day was created as a Facebook posting by a California-based small business owner fed up with bank fees. But it has since been revealed that Balance Transfer Day, which was scheduled for Dec. 5 and designed to urge cardholders to move their credit card balances to less pensive alternatives, was the brainchild of Michael Germanovsky, who is identified as the editor in chief of Credit-Land.com, which generates revenue from advertising related to credit cards and for developing leads for issuers.
Germanovsky told the Associated Press Balance Transfer Day is unrelated to his duties with Credit-Land.com and that the two are separate.
