Credit Card Abitrage is Back: Citi Cards No Fees 0% Offer

I was surprised to get a 0% balance transfer offer with no balance transfer fee today from Citi Cards. Lately they seem to all be 3% fee and have gone from $99 caps to no caps. It seemed like the days of no fees were well gone, as I hadn't gotten an offer like that in over 9mos. What a difference from having them regularly 2-3/mo from any number of banks for years. Does this mean that the credit markets are turning back up, or that Citi is just desperate to get more customers in their card business?

In any case, I'll take free money for 12 months any day of the week. The arbitrage benefits aren't as good these days: high yield savings are pretty low, and heloc payments aren't bad either with prime at 3.25%. Like I said, free money. It's very easy to make $300-400 off the deal still even in a bad yield market.