CapOne BT checks

[Anonymous]

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@Ghoshida wrote:

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@Anonymous wrote:

Caution folks! The last checks I received, about a week ago said specifically that you cannot transfer to a checking or savings account. Here is the specific wording:

*We may decline to process your request for this offer. Your request may be declined if:

You attempted to transfer to a checking or savings account

Your account is delinquent, overlimit, charged-off or closed

You have filed for bankruptcy

Your checks have been reported lost or stolen, or our fraud system prevents the offer fulfillment

A term of your account relevant to the offer (like credit line, APR or special transfer rate) has changed since we mailed the offer

So, here is my recommendation: Log in to your account and go to your balance transfer options. When you initiate the BT they will offer to send you a check. I've taken this option and a check arrives in the mail, made out in my name. This check can be deposited to your bank account, obviously. I've done it this way twice and never had a problem.The check didn't take very long to receive, only about a week.

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The part highlighted in green: apparently there's an account eligibility thing here, something not all CSRs are competent to fully explain.

Apparently my account isn't eligible. It's a 3year+ old platinum MC turned platinum QS turned QS WMC that had a Venture line slapped onto it. 

After a couple of tries, I stopped asking the CSRs why my account isn't eligible. Could have been fun. Anyway tech side for ineligible accounts, when you complete your request and ask for a "no-hassle" cheque mailed to you, the system arbitrarily shuts down and shouts "tech glitches blah blah".

Inside the computer, it's probably just encountered some sort of a hard limit put on certain transactions. It's very likely that it's related to my card being originally a $500 CL platinum mastercard with about 25% APR. 

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I didn't know that. My account, since I've used BTs, has always worked the way I stated.

[Anonymous]

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@Anonymous wrote:

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@Ghoshida wrote:

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@Anonymous wrote:

Caution folks! The last checks I received, about a week ago said specifically that you cannot transfer to a checking or savings account. Here is the specific wording:

*We may decline to process your request for this offer. Your request may be declined if:

You attempted to transfer to a checking or savings account

Your account is delinquent, overlimit, charged-off or closed

You have filed for bankruptcy

Your checks have been reported lost or stolen, or our fraud system prevents the offer fulfillment

A term of your account relevant to the offer (like credit line, APR or special transfer rate) has changed since we mailed the offer

So, here is my recommendation: Log in to your account and go to your balance transfer options. When you initiate the BT they will offer to send you a check. I've taken this option and a check arrives in the mail, made out in my name. This check can be deposited to your bank account, obviously. I've done it this way twice and never had a problem.The check didn't take very long to receive, only about a week.

---

The part highlighted in green: apparently there's an account eligibility thing here, something not all CSRs are competent to fully explain.

Apparently my account isn't eligible. It's a 3year+ old platinum MC turned platinum QS turned QS WMC that had a Venture line slapped onto it. 

After a couple of tries, I stopped asking the CSRs why my account isn't eligible. Could have been fun. Anyway tech side for ineligible accounts, when you complete your request and ask for a "no-hassle" cheque mailed to you, the system arbitrarily shuts down and shouts "tech glitches blah blah".

Inside the computer, it's probably just encountered some sort of a hard limit put on certain transactions. It's very likely that it's related to my card being originally a $500 CL platinum mastercard with about 25% APR. 

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I didn't know that. My account, since I've used BTs, has always worked the way I stated.

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Mine has always worked too without issue. I know the wording does say that "if your account is eligible" we will send you a no-hassle check, but I had no idea some people really weren't eligible.

[Countingpennies]

Okay, I used a BT check. My offer had the same wording as Arlo's. I had the same concerns. I called CapOne and specifically asked if I could write a check to myself and deposit in my checking. He said yes, and agreed the language in the offer was arbitrary.

if anyone is interested in a timeline:

Tues. wrote check and mobile dep. to chkg.

Money in my account on Wed, with dep. date of Tues.

Friday showed as pending in CapOne.

Sat. posted in CapOne account.

Sunday (just now) email from CapOne "Your balance tranfer was approved. Your balance transfer posted to your account."

So, good to go, in 5 days, 4 if I fully trusted the posting to my account on Sat.