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How do balance transfers work?

Established Member

How do balance transfers work?

Hey there.. so I am taking advantage of my 0% APR with CapOne and transferring $500 of the balance from my WAMU card over to CapOne. I applied for it, got charged $500 on my recent activity, but what happens now? Do they send me a check to write out to WAMU in the mail .. or? Thanks in advance!
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Aug '08 WaMu PFICO: 765
Jul '08 WaMu PFICO: 740
Jun '08 WaMu PFICO: 744
May '08 WaMu PFICO: 758
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Regular Contributor

Re: How do balance transfers work?

BTs come in all different forms.  Did you give Cap One your Wamu details?  If yes, then they probably sent a payment directly to your Wamu account.  If you don't see the reciprocal in a couple days (holiday weekend is causing delay in online updates), I would follow up.
 
Sometimes they do send you a check or checks, but it's rarely in a specific amount.  Usuaully they're blank and they have you write them out to whomever you wish.
 
Another way is a direct deposit of the specified amount into your checking account.
 

 

kontayjus wrote:
Hey there.. so I am taking advantage of my 0% APR with CapOne and transferring $500 of the balance from my WAMU card over to CapOne. I applied for it, got charged $500 on my recent activity, but what happens now? Do they send me a check to write out to WAMU in the mail .. or? Thanks in advance!


Jan 07: tu 498, ex 501, eq 504
Oct 07: tu 716, ex 712, eq 723
Nov 07: tu 693, ex 664, eq 672_post app frenzy
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