I was just approved for the Citi Costco and I want to use it to do a balance transfer to husbands Capital One and Merrick Bank he has a citi as well but I know that cant go from citi to citi? He isnt yet an Au nor am I on his cards, how can this be done? Thank you
@penny_e wrote:I was just approved for the Citi Costco and I want to use it to do a balance transfer to husbands Capital One and Merrick Bank he has a citi as well but I know that cant go from citi to citi? He isnt yet an Au nor am I on his cards, how can this be done? Thank you
The only thing you can't do is transfer a Citi balance directly to another Citi card... using a Citi card to do a transfer from Capital One and Merrick accounts is no problem at all.
When you do a BT, they don't ask (and don't care) about the name on the other account... all they need is the other account number, the dollar amount you want to transfer, and occasionally the address (for larger lenders they usually send the payment ACH anyway... for smaller ones they'll mail a check).
I've done this more than once with relatives with various lenders and never had a problem. 
Thank you very much for your answer, that puts my mind at ease, get rid of the high interest. Does citi care if I use the majority of the amount to do balance transfer? Will this cost me later as far as getting credit line increases? Thank you again...
@penny_e wrote:Thank you very much for your answer, that puts my mind at ease, get rid of the high interest. Does citi care if I use the majority of the amount to do balance transfer? Will this cost me later as far as getting credit line increases? Thank you again...
All profiles are different and nobody can predict exactly what someone else's outcome will be, but I can share my own experience.
When I was approved for my Citi Diamond Preferred I immediately did a BT for roughly 60% of the total credit line (that's really what the Diamond Preferred is best for due to the long 0% period on new accounts).
Once the account was open for six months, they gave me a CLI for $1200, making my new credit line $5200 (30% increase). It's not exactly 'fast' growth like some see with Discover or Navy, but it's growth nonetheless, and considering I'm still carrying most of the BT I was pleased with it. I always pay more than the minimum, although I've never made really large payments... I'm not in a big hurry to pay it down quickly (again, due to the 0%).
Hope this helps!
@UncleB wrote:
@penny_e wrote:I was just approved for the Citi Costco and I want to use it to do a balance transfer to husbands Capital One and Merrick Bank he has a citi as well but I know that cant go from citi to citi? He isnt yet an Au nor am I on his cards, how can this be done? Thank you
The only thing you can't do is transfer a Citi balance directly to another Citi card... using a Citi card to do a transfer from Capital One and Merrick accounts is no problem at all.
When you do a BT, they don't ask (and don't care) about the name on the other account... all they need is the other account number, the dollar amount you want to transfer, and occasionally the address (for larger lenders they usually send the payment ACH anyway... for smaller ones they'll mail a check).
I've done this more than once with relatives with various lenders and never had a problem.
UncleB, I noticed Penfed asks during a BT if the account belongs to you. Just fyi. They ask if you are the borrower or co-borrower of the account that is being paid. My DW did a small bt on her promise. This is how I found out.
@Anonymous wrote:
@UncleB wrote:
@penny_e wrote:I was just approved for the Citi Costco and I want to use it to do a balance transfer to husbands Capital One and Merrick Bank he has a citi as well but I know that cant go from citi to citi? He isnt yet an Au nor am I on his cards, how can this be done? Thank you
The only thing you can't do is transfer a Citi balance directly to another Citi card... using a Citi card to do a transfer from Capital One and Merrick accounts is no problem at all.
When you do a BT, they don't ask (and don't care) about the name on the other account... all they need is the other account number, the dollar amount you want to transfer, and occasionally the address (for larger lenders they usually send the payment ACH anyway... for smaller ones they'll mail a check).
I've done this more than once with relatives with various lenders and never had a problem.
UncleB, I noticed Penfed asks during a BT if the account belongs to you. Just fyi. They ask if you are the borrower or co-borrower of the account that is being paid. My DW did a small bt on her promise. This is how I found out.
Ah, that's good to know! I guess like most things there are always exceptions!
I know from personal experience that NFCU, Capital One, Discover, Wells Fargo, Citi, and Bank of America don't ask about the name on the other account... I should have clarified that 'most' don't ask but it can always be YMMV.
Thanks for sharing!
Edited to add: The banks/CUs I mentioned above didn't ask when I last did a BT... obviously things can change, though. 
@UncleB wrote:
@Anonymous wrote:
@UncleB wrote:
@penny_e wrote:I was just approved for the Citi Costco and I want to use it to do a balance transfer to husbands Capital One and Merrick Bank he has a citi as well but I know that cant go from citi to citi? He isnt yet an Au nor am I on his cards, how can this be done? Thank you
The only thing you can't do is transfer a Citi balance directly to another Citi card... using a Citi card to do a transfer from Capital One and Merrick accounts is no problem at all.
When you do a BT, they don't ask (and don't care) about the name on the other account... all they need is the other account number, the dollar amount you want to transfer, and occasionally the address (for larger lenders they usually send the payment ACH anyway... for smaller ones they'll mail a check).
I've done this more than once with relatives with various lenders and never had a problem.
UncleB, I noticed Penfed asks during a BT if the account belongs to you. Just fyi. They ask if you are the borrower or co-borrower of the account that is being paid. My DW did a small bt on her promise. This is how I found out.
Ah, that's good to know! I guess like most things there are always exceptions!
I know from personal experience that NFCU, Capital One, Discover, Wells Fargo, Citi, and Bank of America don't ask about the name on the other account... I should have clarified that 'most' don't ask but it can always be YMMV.
Thanks for sharing!
UncleB- I certainly wasn't trying to correct you. I'm sure you already know that. I just wanted to share the data point.
@Anonymous wrote:
@UncleB wrote:
@Anonymous wrote:
@UncleB wrote:
@penny_e wrote:I was just approved for the Citi Costco and I want to use it to do a balance transfer to husbands Capital One and Merrick Bank he has a citi as well but I know that cant go from citi to citi? He isnt yet an Au nor am I on his cards, how can this be done? Thank you
The only thing you can't do is transfer a Citi balance directly to another Citi card... using a Citi card to do a transfer from Capital One and Merrick accounts is no problem at all.
When you do a BT, they don't ask (and don't care) about the name on the other account... all they need is the other account number, the dollar amount you want to transfer, and occasionally the address (for larger lenders they usually send the payment ACH anyway... for smaller ones they'll mail a check).
I've done this more than once with relatives with various lenders and never had a problem.
UncleB, I noticed Penfed asks during a BT if the account belongs to you. Just fyi. They ask if you are the borrower or co-borrower of the account that is being paid. My DW did a small bt on her promise. This is how I found out.
Ah, that's good to know! I guess like most things there are always exceptions!
I know from personal experience that NFCU, Capital One, Discover, Wells Fargo, Citi, and Bank of America don't ask about the name on the other account... I should have clarified that 'most' don't ask but it can always be YMMV.
Thanks for sharing!
UncleB- I certainly wasn't trying to correct you. I'm sure you already know that. I just wanted to share the data point.
No worries, my friend... that's a valuable (and very useful) data point, indeed!
I can see how someobody not expecting that to come up might have questions if they were doing a PenFed BT... I know I would!
Also, when I'm wrong/mistaken/incorrect/etc I welcome anybody to correct me... that's how we learn, and I'm certainly still learning myself! 