Valued Contributor
Posts: 1,060
Registered: ‎02-06-2013

Chase Balance Transfer Questions

     I being on of those people who is curious about how things operate in the world, decided to try out a balance transfer. I didn't really need one but I figured I would go through the process when I didn't need to so if I ever really needed a balance transfer I would be familiar with it and know how long it takes etc. I  had charged 200 dollars on my Capital One card. Then about a week after the charges had hit I applied for a balance transfer on my Chase Freedom card for 100 dollars. I was very careful to enter the correct info as I applied online. I double checked that I had entered my Capital One account info correctly. This was 3 or 4 days ago. The balance transfer triggered some sort of security alert on my Chase Freedom card and I got a voicemail from Chase requesting that I call them immediately 2 days in a row. I did call them and explained that I had indeed requested a balance transfer of $100. Two days ago the transfer hit my Chase account. I now owe Chase $100 more dollars. Chase hasn't sent Capital One the money yet. I wonder how long it will take. 

     Fortunately right now I am not in the process of applying for credit so I don't mind if my score goes down slightly. I paid off $100 of my $200 Capital One balance and am waiting for Chase to pay off the other $100. I am going to use my cashback reward bonus to pay off my balance transfer on my Chase card. I got $100 in reward points as a bonus from Chase for spending $500 in the first 90 days so my balance transfer looks like this:




Capital One $200                Chase $0




Capital one $200               Chase $105  ($5 fee for doing the balance transfer)


Then I paid $100 of my Capital One bill making it


Capital one $100     Chase $105


Then I am turning in my reward points to Chase which should make it


Capital one $100 Chase 0


and as soon as Chase mails Capital one the check for the transfer it should be 


Capital one 0 Chase 0



My question is what if I pay off Capital One the hundred dollar balance before the Chase balance transfer hits the account?


Then my Capital One account will have a credit of $100 dollars ?


Or will Chase just not go through with the balance transfer if the Capital One account has no balance when the transfer hits?


If my Capital one account has a balance of CR$100 will they automatically send me a check or can I just leave the account at a credit until I charge $100 dollars on something?




0/10001100/13001346/16001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632...Link to my Rebuild Log
Regular Contributor
Posts: 181
Registered: ‎07-09-2011

Re: Chase Balance Transfer Questions

When I did a balance transfer from my CU to Cap 1 that was over the balance due, Cap 1 refunded me the overage via check. This was on a closed account though. I had to make the minimum payment to Cap 1 because it was taking longer than expected for my CU to send the check. Not sure what would happen if the balance on the account being transferred to was 0. I assume it would work the same as it does when I push a payment to a CC from any bill pay account - they always accept the money regardless of balance.

Epic Contributor
Posts: 22,087
Registered: ‎10-23-2007

Re: Chase Balance Transfer Questions

If you do not have a payment on the Capital One account just wait... should be a matter of days now if you are seeing the charge on chase... it is electronis so just won't clear through holiday and weekend...

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
66 Cards and Counting :smileytongue:

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+