I just received the Barclay Ring card with 8% APR, $10000 limit, and $1 cash advance fee. I plan on using the card for emergencies where I might need to carry a balance for a few months. I have a few balances coming off 0% cards in the next few month for a total of around $3000. I would like to move these balances to my Ring card but I am not sure what is the best way to do it. If I got a $3000 cash advance, I could deposit it into my checking and pay off the other cards. Would this spook Barclay? Would it look better in the eyes of my other lenders if I "paid" off there cards rather than did a BT or does it even matter? BT through Barclay take up to 4 weeks which isn't very convenient. I would just rather take a cash advance or use a cash advance/BT check from Barclay but don't want to spook them either. With just a $1 cash advance fee it appears Barclay is encouraging you to take a cash advance. Any advice from Ring card holders would be appreciated.
Anyone with a Barclay Ring who has done a BT or cash advance able to comment on this?
Why not just call and ask about paying off other cards if it would be a problem. At least they should have it recorded if you run into a problem. They want to make your 8% they make nothing if you don't use your card. The only time I use the card is if I carry a balance car repair etc.
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