Difference in BT?

[Anonymous]

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liz20 wrote:

Most creditors won't let you BT from one card of theirs to another of theirs with a promo BT offer.

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Wow, is this true? 'cause I was planning on doing that from one citi card to another one? I thought that was ok to do.

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Check the terms of the offer.  You'll probably find that restriction in the small print.

[Anonymous]

What are the balances and credit limits on each of the two cards, and how much do you plan to BT?

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I'm planning on BT $4200. The CL on my new card is $9k. The old card is one of those card that do not show CL on CR. Only shows balance $5200 with CL $0. What do you think?

[Anonymous]

Anyone?

[dizzier]

did you check the terms of the offer to see if you can actually make the BT?

[Anonymous]

I have done BT both ways with no problems. I have read- Doing the phone BT- the rate may be a higher %- always read the fine print. All cards vary.
Also my bank puts a 2 day hold on funds (the BT check) I have heard 5 days also for others.

[Anonymous]

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liz20 wrote:

Anyone?

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I think it's a good move for your scores.  You'll have one card at 47% and one at 19%, rather than one appearing to be maxed out.

(I arrived at the 19% on the old card by assuming the high balance is $5200, which will be used in place of the unreported CL.)

[Anonymous]

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dizzier wrote:
did you check the terms of the offer to see if you can actually make the BT?

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Agree with dizzier.  This may all be a moot point if the creditor won't allow you to BT among multiple cards issued by them, which most of them do not.

[Anonymous]

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liz20 wrote:

Anyone?

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cheddar wrote:

I think it's a good move for your scores.  You'll have one card at 47% and one at 19%, rather than one appearing to be maxed out.

(I arrived at the 19% on the old card by assuming the high balance is $5200, which will be used in place of the unreported CL.)

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Yeah I think it's better since I am also going to pay the remaining balance ($1K) in full this month for the old card. Then I will only have a 47% util. on the new card and small balances on two other cards. By the way I had a High Balance of 11K in the past on the old card.  I will call Citi to see if they allow me to do it. Thanks cheddar and all the others for your replies.

[Anonymous]

So... Does this mean I could get a Cash Advance Check for my BT to pay my other CC before April 19 and it is treated the same as 0% for 12 months then it goes to 9.99% ?

Say yes

Cash Advances: 0% Introductory APR applies to Direct Deposits that are not processed online (non-online Direct Deposits) and Check Cash Advances through your first 12 statement Closing Dates (the Promotional Period). When the Promotional Period ends, the Standard APR for non-online Direct Deposits and Check Cash Advances posted to your account either during the Promotional Period or before April 19, 2008 is 9.99% or 15.99%. Non-online Direct Deposits and Check Cash Advances posted to your account on or after April 19, 2008 and after the end of Promotional Period will be subject to the Standard APR for Direct Deposits and Check Cash Advances of 24.99%. The Promotional Period will end sooner if your payment is

[Anonymous]

Well, I came up with the idea that if they don't want to do the BT, I'll just ask for a BT check for that amount. One of those check that I can deposit to my checking/savings acct and then pay it off from there. That's how I did my previous BT and it was fine...no cash advance....just a BT, that's what they told me last time and that's how it was, 0% fees for 8 months.