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@beautifulblaquepearl wrote:
@Ghoshida wrote:
@Anonymous wrote:Awesome I think I got it down now. I thought of a tricky way to have my cake and eat it too. I am going to charge to my Amex charge card, if I am getting too close for comfort to the due date and no stipend yet I am going to balance transfer to my Capital One that closes at the end of the month.
While many balance transfers happen within a few days, some take a long time (2-3 weeks even). I would not get close to less than a week from next statement and then try for a BT.
Ghoshida is right. Although, I must say that I was surprisingly impressed at how fast Capital One processed DH's recent balance transfers. They were done within days. It's the fastest I've ever seen. Best of luck OP!
+1
My own recent experience with a BT to Capital One (with Capital One sending the funds - the "to" and "from" gets confusing when discussing a BT) was really quick as well - if I recall correctly it was two days. I would hate to be in the position where I was depending on that, though.
I think somebody else already mentioned 'Murphy's Law'... for some reason I tend to attract it's attention more than most, so I always give myself a 'Plan B' when time is a factor.
@UncleB wrote:
@beautifulblaquepearl wrote:
@Ghoshida wrote:
@Anonymous wrote:Awesome I think I got it down now. I thought of a tricky way to have my cake and eat it too. I am going to charge to my Amex charge card, if I am getting too close for comfort to the due date and no stipend yet I am going to balance transfer to my Capital One that closes at the end of the month.
While many balance transfers happen within a few days, some take a long time (2-3 weeks even). I would not get close to less than a week from next statement and then try for a BT.
Ghoshida is right. Although, I must say that I was surprisingly impressed at how fast Capital One processed DH's recent balance transfers. They were done within days. It's the fastest I've ever seen. Best of luck OP!
+1
My own recent experience with a BT to Capital One (with Capital One sending the funds - the "to" and "from" gets confusing when discussing a BT) was really quick as well - if I recall correctly it was two days. I would hate to be in the position where I was depending on that, though.
I think somebody else already mentioned 'Murphy's Law'... for some reason I tend to attract it's attention more than most, so I always give myself a 'Plan B' when time is a factor.
This is exactly why I love this forum! I only did a balance transfer once and it was reltively fast. I didn't know it could take a bit. I think I'll initiate the BT right after my statemebt cuts for my Capital One (27th). A little over two weeks should be plenty I would think. This way I can get plenty of usage on two cards. I will have to think of a second backup plan if the BT takes longer than a week. 40% discount is too big to pass up. I don't want medical expenses putting me back into debt. Worst case scenario if it gets too close to Amex close date I could borrow the funds from my sister for a few days. Thanks everybody!
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |