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Senior Contributor
Posts: 3,491
Registered: ‎07-25-2008
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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
Posts: 352
Registered: ‎09-23-2011
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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...

5/30/15 EQ 596; TU 605
Senior Contributor
Posts: 3,491
Registered: ‎07-25-2008
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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.


Starting Score: 675
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Valued Contributor
Posts: 1,603
Registered: ‎12-07-2008
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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 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - 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 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




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Senior Contributor
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Registered: ‎07-25-2008
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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
Posts: 352
Registered: ‎09-23-2011
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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?

5/30/15 EQ 596; TU 605
Senior Contributor
Posts: 3,491
Registered: ‎07-25-2008
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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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Super Contributor
Posts: 9,674
Registered: ‎01-28-2010
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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.
March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
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