How Do Balance Transfers Appear on CR?

[FICOEmpire]

I've never done a BT before and don't need to now. I'm just curious how they appear on a CR.

1. Are they noted in some special way?

2. Does FICO lower your score because you've done a BT?

3. Is your score only changed because of differences in util on a different card? Seems like your score would go up for lower util on a new BT card w/ a higher limit?

4. I've seen people say they BT into a checking account. Can you actually do that? And how is that different from a cash advance? Something else I've never done.

Thanks.

[OmarGB9]

1. No
2. No, Fico wouldn't know. The only way it affects your score is those times when the BT amount is showing up on both the old account *and* the new account at the same time, creating a false impression that you owe double what you really do. But after the old bank reports the new lower balance your score recovers.
3. Scores change for many reasons, but yes, theoretically the same amount of debt on a different account with a higher limit would result in lower util and a possible score jump.
4. Yes. You order "BT checks" from your bank and you can pretty much write the check out to yourself and deposit it into a checking account. It's not a cash advance because the bank is still helping you pay off another debt and doing a BT. Just in a different way. Technically they're not giving you cash from your account, but rather a blank check.

[FICOEmpire]

Thanks for the info. That helps clear things up. As a follow up then, the only place you would see a BT noted then would be on your statement from your lender? Also then, is the cash advance cc's have only if you use your card with a pin at an ATM? And the reason for my post is I sometimes get those blank checks from my cc issuers (Barclay in this case). Those are the BT checks you're talking about I suppose. Those could be useful if I ever did need to move balances around in the future. Fortunately I've never needed BT or cash advance. Thanks.

[Anonymous]

You have to be sure what the terms for each lender are. I saw on my US bank a place to order convenience checks, so I did. But the terms state that using them is a cash advance. Each lender is different.

But yes, only the issuing lender knows it as a BT. The receiving lender just knows it as a payment.

[taxi818]

Balance transfer don't appear on your report at all. It's a balance like any other. Whether from purchase or other lender. Shows the balance owed on your credit card. Not where it came from.