BOA BT Checks

[fltireguy]

Has anyone gotten the latest offer? As if the ones that I got 2 weeks ago weren't enough, they sent out a new round, much better than usual.. 0% thru 3/2019. Or 1.99 thru 8/2019

[Anonymous]

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@fltireguy wrote:
Has anyone gotten the latest offer? As if the ones that I got 2 weeks ago weren't enough, they sent out a new round, much better than usual.. 0% thru 3/2019. Or 1.99 thru 8/2019

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They don't even send me checks... I still have the new card BT offer, but it still always carries the 3% fee up front, right?

[K-in-Boston]

I get checks about twice a week. For at least the past 18 months they've all been 0% or extended 1.99% offers that match the offers available in my account. Shredder is getting exhausted. LOL

[Anonymous]

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@K-in-Boston wrote:
I get checks about twice a week. For at least the past 18 months they've all been 0% or extended 1.99% offers that match the offers available in my account. Shredder is getting exhausted. LOL

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Got my first checks from them today with that offer.  It's Barclays and Citi that send me some once a week.

[DeeBee78]

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@fltireguy wrote:
Has anyone gotten the latest offer? As if the ones that I got 2 weeks ago weren't enough, they sent out a new round, much better than usual.. 0% thru 3/2019. Or 1.99 thru 8/2019

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You're giving me hope that I may yet see a BT offer (that isn't my current APR!) from BoA  

It would help my utilization to park $3,500 over on BoA for a little while, but I wouldn't do it without a 0% fee offer since all my current debts are at 0% APR already. I'll just keep plugging away at these balances until they're paid off in March - Slow and steady  wins the FICO race.  

[Anonymous]

Hope im not derailing your thread, but I have a question for you since it sounds like you are familiar with BT's since you get alot of offers. 

I am subbed to a subreddit called wallsteetbets where its bassically a bunch of degenerate gamblers making highly risky stock market plays (and is quite entertaining to read) and there was a post not long ago from a guy who claimed he had used a $30,000 0% balance transfer from a credit card, wrote the check to himself, and then made the stock market play with it (it actually ended up paying off, i think he double or trippled it off a single earnings bet). Can someone actually do that? Like i was under the impression you had to actually transfer a balance from another card. Not just write the check to yourself and cash it. 

Is he telling the truth? Can you actually take a balance transfer check, make it out to yourself, and essentually have an interest free loan as long as you pay it back before the 0% timeframe is up, and only incure the 3% initial fee?

[Anonymous]

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@Anonymous wrote:

Hope im not derailing your thread, but I have a question for you since it sounds like you are familiar with BT's since you get alot of offers. 

I am subbed to a subreddit called wallsteetbets where its bassically a bunch of degenerate gamblers making highly risky stock market plays (and is quite entertaining to read) and there was a post not long ago from a guy who claimed he had used a $30,000 0% balance transfer from a credit card, wrote the check to himself, and then made the stock market play with it (it actually ended up paying off, i think he double or trippled it off a single earnings bet). Can someone actually do that? Like i was under the impression you had to actually transfer a balance from another card. Not just write the check to yourself and cash it. 

Is he telling the truth? Can you actually take a balance transfer check, make it out to yourself, and essentually have an interest free loan as long as you pay it back before the 0% timeframe is up, and only incure the 3% initial fee?

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He's probably telling you the truth.  These BT checks can be written to yourself and deposited into your bank account and you're free to do with just like any money.  However, not something that is advisable as I'm sure you can see how you could run up some substantial debt quickly.  Also not all BT checks have a 3% fee.  Some have 1 or 2% and very rarely you'll see 0% ones

[AverageJoesCredit]

I get these offers, 0% and 1.99% every 2 weeks. They love offering but dont want to give any more cl lol.

[K-in-Boston]

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@AverageJoesCredit wrote:
I get these offers, 0% and 1.99% every 2 weeks. They love offering but dont want to give any more cl lol.

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Just not to you.  Sorry.  

[Anonymous]

You can actually call BoA and request they stop sending the checks. I did years ago (after asking for my apr to be lowered) and never received one again.