How common is AA for balance transfers out of Barclays?

[Anonymous]

Using my Ring as an intermediary to renew my interest promo with Discover. Current balance is with Discover, transfer to Barclays, and then pay off with new balance transfer to Discover. How many people have experienced AA from Barclays doing something like this?

[Anonymous]

I did something very similar except I deposited the transfer from Discover to my checking acct.
Used that to payoff the Ring bal. Though it was a little more discrete...no problems whatsoever, just a check up from Discovers fraud dept to verify. Not a peep from Barclay.

[kdm31091]

Keep in mind this forum makes AA seem much more common than it really is because most have aggressive credit habits compared to the general population. Barclay's wouldn't offer BTs if they were going to just shut down anyone who actually used it.

BTs with any lender almost always result in an account review because the lender wants to be able to assume you will pay back the money. During this review, for most consumers, nothing happens and the BT proceeds as planned. If the review determines someone is an above normal credit risk, either because of the BT plus many recent inquiries, or rising utilization across the board, etc, then sometimes a CLD or closure will result because the bank feels the risk is too great. A BT combined with many recent inquiries just makes you look like you are desparate for credit and digging yourself into a hole, hence the need for shuffling the debt. This may or may not actually be the situation, but all the bank can do is assume based on your report.

You just have to use judgement and try to look at your report as the lender would. If you have 3 new accounts in the past month and go for a BT you may be raising eyebrows.

[Dalmus]

I treated Barclay discreetly as well... I used a check from my Cap1 card to deposit into my own checking account, used that money to pay off Barclay, then did a normal BT from Cap1 to my NRA Visa with the 1.99% BT promo. None of them blinked at me.

[Anonymous]

Barclay lists on their Ring blog under financial behaviors that they do not consider positive as " balance transfers away from Barclay."

That doesn't mean that people have not done so without success, because they have.  Of course, Barclay is going to say the above because they want you to keep your money with them. Take it for what it's worth. Barclay can be punchy, but don't stress yourself out over them too much.

I'm not sure it's the wisest idea to balance transfer something in to Barclay and then immediately transfer that same amount out, however, Just does not sound like a good idea.

[SouthJamaica]

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@Anonymous wrote:

Using my Ring as an intermediary to renew my interest promo with Discover. Current balance is with Discover, transfer to Barclays, and then pay off with new balance transfer to Discover. How many people have experienced AA from Barclays doing something like this?

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Some people have reported that.

I have done lots of balance transfers with them, haven't  had any problem.

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

Using my Ring as an intermediary to renew my interest promo with Discover. Current balance is with Discover, transfer to Barclays, and then pay off with new balance transfer to Discover. How many people have experienced AA from Barclays doing something like this?

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Some people have reported that.

I have done lots of balance transfers with them, haven't  had any problem.

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Same

[Anonymous]

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@SouthJamaica wrote:

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@Anonymous wrote:

Using my Ring as an intermediary to renew my interest promo with Discover. Current balance is with Discover, transfer to Barclays, and then pay off with new balance transfer to Discover. How many people have experienced AA from Barclays doing something like this?

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Some people have reported that.

I have done lots of balance transfers with them, haven't  had any problem.

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Ditto!

[Anonymous]

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@Anonymous wrote:

Using my Ring as an intermediary to renew my interest promo with Discover. Current balance is with Discover, transfer to Barclays, and then pay off with new balance transfer to Discover. How many people have experienced AA from Barclays doing something like this?

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When you're ready to transfer the balance from Barclay to the other card, make a payment from your checking account in lieu of submitting another BT. 

KDM makes some very valid points. If you have been aggressively seeking credit recently, within past 6-12 month, include this information in your decion-making process. Please come back and update your thread with your decision.