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Established Contributor
jefftca925
Posts: 683
Registered: ‎08-14-2008

Citi MC Direct Check offer

Hi everyone!  I'm closing (hopefully) on a house next week and will be having new flooring installed to the tune of about $4400.  I have $2400 cash earmarked to pay right now from $$ I've earned at my part time job and the rest I could pull from savings.  I called Citi a couple days ago inquiring about a BT offer they sent me for 0% thru Nov 2012.  The CSR mentioned that they could send me a "Direct Check" that I could deposit into my checking account and would act the same as the 0% BT offer.  I figured it wouldn't be a bad idea to take advantage of it as it would help with cash flow during some remodeling projects.  Has anyone done this and how did it work for you?  I was thinking of asking for a CLI from $6600 to $8000 and then BT $3k.  I PIF every month and would probably pay the BT in a few months.

CCs: Chase Freedom World MC 6.9k, CSP VISA Sg 7k, BofA Amex 12.5k, Discover 10.5k, US Bank Cash+ Visa Sg 12.5k, Macy's Amex 8k/1.5k, Gap Visa 10k, Best Buy 11.1k, Citi TY MC 9.2k, Citi AA Amex 6k, Nordstrom Visa Sg 10k, Amex Zync, Costco Amex 12k, BofA CR Visa Sg 17k, Amex BCP 9.5k, Amex Blue 5k, Sears MC 9k, HD 7k, Target 600, Amazon 7k, US Bank MC 15k, US Airways MC 4k, NFL Visa 4k, Patelco Visa 10k, Penfed PR Visa 44.6k, Chase United Visa Sg 13k, Chase Marriott Visa Sg 8k, Citi Simplicity 11.4k, PayPal MC 5k, Compass Visa 4k, WF Visa Sg 14k, FNBO Amex 14.1k, OCCU VISA 15k, TR Visa Sg 10.8k, Capital One QS Visa 3k, FRN MC 12k, HSN 4k, Saks WEMC 10k/4k, Chase Ink 18k, Barclay Arrival 10k, Ebates Visa Sg 8k FICOs as of June '14...EQ 808 TU 804 EX ?
Frequent Contributor
tsquad131
Posts: 474
Registered: ‎09-12-2010

Re: Citi MC Direct Check offer

if you want to pay the bt fee go ahead ask and see how much it is before doing it and see if it will be worth doing it

FICO scores - 727 TU(Walmart)/ 727 EX(Amex app)/ 721 EQ(Discover app)
In My Wallet: BankAmericard Cash Rewards($2,000), Discover More($3,000), Chase Freedom($2,000), Fidelity Amex($1,000), Sam's Club Discover($4,400), SallieMae 5% Mastercard($5,000), Amex BCE($2,000) ,Citi Simplicity($2,000), Paypal SmartConnect($3,100), Walmart Store Card($2,350), Chase Amazon Visa($700), Target RedCard($500), Capital One Cash Rewards($750), Best Buy Store Card($1,900), HHGregg($2,000), Amazon Store Card($1,250),Newegg Preferred Account($2,000), Park West($2,000), BankAmericard Travel Rewards($5,000)
Established Contributor
jefftca925
Posts: 683
Registered: ‎08-14-2008

Re: Citi MC Direct Check offer

the BT fee is 3% which I don't have a problem with.  I'm more concerned if Citi has an issue with customers doing this and if anyone has ever experienced an AA from doing one.

CCs: Chase Freedom World MC 6.9k, CSP VISA Sg 7k, BofA Amex 12.5k, Discover 10.5k, US Bank Cash+ Visa Sg 12.5k, Macy's Amex 8k/1.5k, Gap Visa 10k, Best Buy 11.1k, Citi TY MC 9.2k, Citi AA Amex 6k, Nordstrom Visa Sg 10k, Amex Zync, Costco Amex 12k, BofA CR Visa Sg 17k, Amex BCP 9.5k, Amex Blue 5k, Sears MC 9k, HD 7k, Target 600, Amazon 7k, US Bank MC 15k, US Airways MC 4k, NFL Visa 4k, Patelco Visa 10k, Penfed PR Visa 44.6k, Chase United Visa Sg 13k, Chase Marriott Visa Sg 8k, Citi Simplicity 11.4k, PayPal MC 5k, Compass Visa 4k, WF Visa Sg 14k, FNBO Amex 14.1k, OCCU VISA 15k, TR Visa Sg 10.8k, Capital One QS Visa 3k, FRN MC 12k, HSN 4k, Saks WEMC 10k/4k, Chase Ink 18k, Barclay Arrival 10k, Ebates Visa Sg 8k FICOs as of June '14...EQ 808 TU 804 EX ?
Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009

Re: Citi MC Direct Check offer


jefftca925 wrote:

the BT fee is 3% which I don't have a problem with.  I'm more concerned if Citi has an issue with customers doing this and if anyone has ever experienced an AA from doing one.


I can only speak for myself but I've never experienced an AA from Citi or any other card I've done a BT with. As always YMMV.

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Established Contributor
jefftca925
Posts: 683
Registered: ‎08-14-2008

Re: Citi MC Direct Check offer

Well I called Citi today, again, to get more info on this offer.  The CSR said they would send a check or checks (you can break up the amount you want into different check amounts) that would be charged to the account once they are cashed.  So I requested 2 different checks to possibly use and the CSR advised that they would be charged against my available credit immediately.  The nice thing about this is that there is no charge against your account unless you cash.   You can cancel them and they will reinstate the available credit line.  This seems a much better option than doing a dreaded cash advance.  The checks take about 10 days to be received.  And I also got a CLI of 1k on top of it.  Not a bad deal.

CCs: Chase Freedom World MC 6.9k, CSP VISA Sg 7k, BofA Amex 12.5k, Discover 10.5k, US Bank Cash+ Visa Sg 12.5k, Macy's Amex 8k/1.5k, Gap Visa 10k, Best Buy 11.1k, Citi TY MC 9.2k, Citi AA Amex 6k, Nordstrom Visa Sg 10k, Amex Zync, Costco Amex 12k, BofA CR Visa Sg 17k, Amex BCP 9.5k, Amex Blue 5k, Sears MC 9k, HD 7k, Target 600, Amazon 7k, US Bank MC 15k, US Airways MC 4k, NFL Visa 4k, Patelco Visa 10k, Penfed PR Visa 44.6k, Chase United Visa Sg 13k, Chase Marriott Visa Sg 8k, Citi Simplicity 11.4k, PayPal MC 5k, Compass Visa 4k, WF Visa Sg 14k, FNBO Amex 14.1k, OCCU VISA 15k, TR Visa Sg 10.8k, Capital One QS Visa 3k, FRN MC 12k, HSN 4k, Saks WEMC 10k/4k, Chase Ink 18k, Barclay Arrival 10k, Ebates Visa Sg 8k FICOs as of June '14...EQ 808 TU 804 EX ?

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