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Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Best way to do BT?

I have two good 0% BT opinions available (USAA & Citi) and have decided to pull the trigger. Trying to figure out the best way to execute it.

 

Convenience check deposited into my account and then paying vs.. Electronically. Neither way creates a hardship but I'm wondering if using an electronic payment would decrease the chances of a CLI from the $0 balance card down the road. Even if I did not do a BT the balance would be paid off in a few months but it really doesn't make sense to pay interest if avoidable.


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Frequent Contributor
birjest
Posts: 351
Registered: ‎09-23-2011

Re: Best way to do BT?

I just did a BT from my Dell(26%) to my Discover card last month.  I called the rep and gave her the info and it was done.  I don't think I should have a problem considering I would have the account PIF in 18months.  And if I have a balance, I would BT to Citi Forward or Simplicity.  The balance may be around $1500, but atleast I am paying on principles and not Dell 26% interest...

11/15/13 EX 685(MY FICO) EQ 657(MY FICO) TU 659 (MY FICO).
Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: Best way to do BT?

In case it matters: The company I'd be transferring away from is Chase and the card will be 6 months old in Jan.

 

I'm unwilling to take a HP for CLI so it may be moot.


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Valued Contributor
clocktick
Posts: 1,603
Registered: ‎12-07-2008

Re: Best way to do BT?

I did a BT from Barclays to Citi and, within 6 months, they both gave me CLIs.

11/30/08 TU 648 EX 672 EQ 656 JUNE 2014 TU 779 EX 764 EQ 721
Amex BCP $24.1K/Clear $8.5- Barclays LLBean $15k/Sallie Mae $12.5 -Cap One QS $4 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




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Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: Best way to do BT?

Called Citi (Diamond Preferred) and they did a direct deposit for the BT amount. Direct pay was an option, too. 


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Frequent Contributor
birjest
Posts: 351
Registered: ‎09-23-2011

Re: Best way to do BT?


drkaje wrote:

Called Citi (Diamond Preferred) and they did a direct deposit for the BT amount. Direct pay was an option, too. 



I was just approved for the Diamond Preferred yesterday.  Did you get your card already?  How long does did it take to get your card?

11/15/13 EX 685(MY FICO) EQ 657(MY FICO) TU 659 (MY FICO).
Senior Contributor
drkaje
Posts: 3,482
Registered: ‎07-25-2008

Re: Best way to do BT?

I've had the card for around 2 years. Really can't recall how long transit took.


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Moderator
pizzadude
Posts: 8,775
Registered: ‎01-28-2010

Re: Best way to do BT?

I really don't think that companies care too much about how you perform a BT, but personally I would go for the electronic route, as it **should** be faster than sending a check, and woukd minimize delay due to holding funds.
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