Does Simplicity allow direct deposit BT right away?

[Anonymous]

If you are approved for a Citi Simplicity, can your initial balance transfer be a direct deposit? I want to use it to balance transfer a student loan. 

[Anonymous]

Anyone know...?

[CreditMagic7]

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@Anonymous wrote:

Anyone know...?

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Read the terms of your Simplicity BT and it WILL lay out for you whether it's allowed or otherwise.

I have done directs with both my Citicards no probleola as well as Discover, Chase etc. however as i preparing one day to do one with Capital One it prohibited the BT offer from that.

It's spelled out in the terms of your particular offer. Hope that helps.

Citi is usually flexible and has no probs but it's best to make sure in case it gets assigned as a cash advance which you don't want with immediately applied high APR.

[Anonymous]

Unfortunately this is not spelled out anywhere on the application or the preapproval letter. I have no use for the card if I am unable to do the BT as a direct deposit.

[AverageJoesCredit]

I dont know about Simplicity but recently i tested the waters with a BT on my DC and i was able to have what i needed deposited into my checking pretty fast too. This is the only way i prefer to Bt as i prfer if im gonna pay off someone else i just want to do it myself, call me koo koo i guess

[Anonymous]

So you're saying that with your new Citi DC you were able to do a direct deposit balance transfer right away? Thanks for the info.

[Jdout]

If I remember correctly, there was a mandatory waiting period of 14 days after approval for getting a BT. I think I got mine deposited on the 16th day from approval. This was on a Diamond Preferred.