This will be my first, my last, my only, balance transfer EVER.
I wanted to do a simple balance transfer from another credit card to my Cap One card because that card a better interest rate. Easy, right ?
5 days after the initial transfer I checked the balance of the card I wanted the transfer from and I still had a balance. The rest of the balance had already been paid so, I was in no worry about the min payment being made. I was just curious as why it still had a balance.
I called the CCC that still showed the balance, the CSR seemed unsure of what she was doing and was quick to cut me off, when I asked her what was going on. I thought it was a simple question but she spoke to me like I was stupid. I told her thank you for her help ( which was more like she had a bad attitude and wanted to just get rid of whomever she had to talk too). I got hung up on essentially and didn't get to do the survey....wonder why ?
I then proceeded to call Cap One and explained what the other representative told me to do and there I was. I kept telling him I was trying to make a balance transfer from another CC to them. His response was "Ma'am you've made a purchase from us to them, your giving them money from us" Girlfriend say what ???? I proceeded to tell him well maybe I've made a mistake, I just wanted to transfer a balance to this card from another. I'll be honest I believe because he kept saying you made a "purchase", threw me off but how does that and balance transfer imply they are the same? He then put me on hold. He came back to tell me, that he had CANCELLED my balance transfer. Yes, confused I was but I still didn't understand what was going on. Its now cancelled and he thinks he's a chip off the old block. He hung up and I did too.
I checked Cap one again to check if I had filled out something incorrectly and was just really that wrong but I wasn't it! I told him to that clearly something transferred to my Cap One in the form of that amount I made in the transfer but he kept saying they were not that same thing. Now Ill be doing this junk all OVER AGAIN! Just to have the other card end up posting with a balance because it will report before the transfer is done and I got some fee for having the transfer cancelled.....Good times , good stuff.
Your post is confusing.
Are you expecting instant same day balance transfers?
You probably had a balance on the card 5 days after you initiated a transfer because they haven't received the payoff check yet. The card you are transferring to will show a balance... and you'll still have a balance on the card you are transferring from... until they recieve the check.
Or is there another issue?
I did a balance transfer for the first time. I just wanted to know how long does it take to reflect on both sides. The Capital One CSR cancelled the transfer, he told me I did it wrong, when in fact he shouldn't without my permission. He just didn't know what he was doing. I just had a simple question and he F'D up my trancaction. Not a big deal, just a confusing and annoying situation.
@LShawn08 wrote:
I did a balance transfer for the first time. I just wanted to know how long does it take to reflect on both sides. The Capital One CSR cancelled the transfer, he told me I did it wrong, when in fact he shouldn't without my permission. He just didn't know what he was doing. I just had a simple question and he F'D up my trancaction. Not a big deal, just a confusing and annoying situation.
Depending on the cc's involved, it can take up to 30 days. The longer time period is for those BTs that require checks to be mailed as opposed to electronic pyts. The usual time frame for BTs involving electronic payments can be 7-14 business days.
