@Runitup wrote:
Used a Chase check to buy a work van for about 10k. At the time, they were offering 0% with no fee for 12 months, I believe. My limit was about 21k so less than 50% utilization. Go for it, it's a great deal.
wow...that was a cool deal 
@lg8302ch wrote:
@elim wrote:That's a money saver.
I would call up the lenders and let them know you would like to make a large purchase with a convenience check and pay it off in 10 to 11 months (for some reason i actually think this makes a difference, lol). You can always BT off anything left over if emergencies arise. You may spread it over 2 lenders to lessen the utilization on individuals.
Congrats on the new bike and ride safely. :]
I wonder if lenders note your account if you check in first and ask if it is ok to make a purchase? I did this with Barclays and have purchased a few boats/motors from private sellers by depositing BT checks directly into my account and have had no issues with them. Payments were either within a week in full or $500 to $1500 per month. I have maxed my cash limit 4 times. I have been practicing "pay myself first" and am collecting much more savings than ever before but don't touch it. If a great deal shows up and I can make a couple thousand, then I try to make it happen and yes, I expected CLD but if I can't use a cash card for cash then ehhh, and I can easily turn to USAA if Barclay kicks me to the curb. I had under 2 years relationship with Barclay when I used them for the purchases. I haven't made one in 3 months and my limit is still intact. I will probably do the same next winter. Best of luck.
Thanks Elim. Final decision on the model will be done after the last test drive end of March (import permission not yet available)..lol.. What do you mean by cash limit? The BT offers I took in the past were deposits into my bank account but way over the cash limit on my cards (as I have manually lowered them) and treated as regular BT same as for purchases. On the check it says up to the amount of the CL. I might actually take advantage of both offers to keep utilization in yellow range instead of going dark red. Maybe I will be lucky to get the offer back that expired last month...we will see.. if this is the case I will hit everything on Cap1 and still pay down within 12 months and not 18 months. Let's keep fingers crossed that the offer comes back as this was the very best ever. In December I hesitated to take advantage of it with no plans yet but let it go by as a few new card apps were planned ...so now only two offers left.
A new motorbike sounds fun! so cooool
Barclay Ring convenience checks are available year round. They are at Barclays discretion whether or not they are BT or CA.
Per Barclay...
" “Check” or “Convenience Check” means an access check we provide to you to make a Cash Advance or a Balance Transfer as applicable on your Account. A Check can be either a Balance Transfer Check or a Cash Advance Check and will be designated as such by us."
Everything on Ring is 8% unless a 0% offer is there.
I do get Chase and Cap1 2%/0% Checks all the time but I pay it back so fast I would be losing Money due to the 2% BT fee.
@Ring = $3000 @ 8% = $19.73 interest per month (plus the $3 cash/BT fee on any amount) = $22.73
@Anonymous or Cap1 = $3000 @ 2% BT fee = $60.00
@Anonymous wrote:Some motorcycle dealers may not accept full payment on a CC. Likely if the purchase is over $5k you will have to put down cash.
@Anonymous motorcycles have reasonable APR's when financed through the manufacturer. I think honda is @4.99% and others are very similar.
Thanks. Forgot to mention the motorcyle purchase is in Europe and financing is not on the level as in the US. I consider a model from Yamaha, Kawasaki, Kymco, Suzuki so far and it will be fun to test drive all of them while waiting for the import approval on the new Kymco
@elim wrote:
@lg8302ch wrote:
@elim wrote:That's a money saver.
I would call up the lenders and let them know you would like to make a large purchase with a convenience check and pay it off in 10 to 11 months (for some reason i actually think this makes a difference, lol). You can always BT off anything left over if emergencies arise. You may spread it over 2 lenders to lessen the utilization on individuals.
Congrats on the new bike and ride safely. :]
I wonder if lenders note your account if you check in first and ask if it is ok to make a purchase? I did this with Barclays and have purchased a few boats/motors from private sellers by depositing BT checks directly into my account and have had no issues with them. Payments were either within a week in full or $500 to $1500 per month. I have maxed my cash limit 4 times. I have been practicing "pay myself first" and am collecting much more savings than ever before but don't touch it. If a great deal shows up and I can make a couple thousand, then I try to make it happen and yes, I expected CLD but if I can't use a cash card for cash then ehhh, and I can easily turn to USAA if Barclay kicks me to the curb. I had under 2 years relationship with Barclay when I used them for the purchases. I haven't made one in 3 months and my limit is still intact. I will probably do the same next winter. Best of luck.
Thanks Elim. Final decision on the model will be done after the last test drive end of March (import permission not yet available)..lol.. What do you mean by cash limit? The BT offers I took in the past were deposits into my bank account but way over the cash limit on my cards (as I have manually lowered them) and treated as regular BT same as for purchases. On the check it says up to the amount of the CL. I might actually take advantage of both offers to keep utilization in yellow range instead of going dark red. Maybe I will be lucky to get the offer back that expired last month...we will see.. if this is the case I will hit everything on Cap1 and still pay down within 12 months and not 18 months. Let's keep fingers crossed that the offer comes back as this was the very best ever. In December I hesitated to take advantage of it with no plans yet but let it go by as a few new card apps were planned ...so now only two offers left.
A new motorbike sounds fun! so cooool
Barclay Ring convenience checks are available year round. They are at Barclays discretion whether or not they are BT or CA.
Per Barclay...
" “Check” or “Convenience Check” means an access check we provide to you to make a Cash Advance or a Balance Transfer as applicable on your Account. A Check can be either a Balance Transfer Check or a Cash Advance Check and will be designated as such by us."
Everything on Ring is 8% unless a 0% offer is there.
I do get Chase and Cap1 2%/0% Checks all the time but I pay it back so fast I would be losing Money due to the 2% BT fee.
@Ring = $3000 @ 8% = $19.73 interest per month (plus the $3 cash/BT fee on any amount) = $22.73
@Anonymous or Cap1 = $3000 @ 2% BT fee = $60.00
May I ask where you found this info that Barclays can change it to a CA instead of a regular BT? My checks read that I can deposit into my bank account and nothing is mentioned that it could be treated as CA. It says write a check to yourself for renovations, home improvements or special purchases. ...that would be a no go on Sallie Mae if considered CA but I cannot find anything . The last one I used was also into my checking account and treated the same way as a regular BT. Can Barclay decide when posting the check to my account? I would hate to gamble and need to know up front.
@lg8302ch wrote:
@elim wrote:
@lg8302ch wrote:
@elim wrote:That's a money saver.
I would call up the lenders and let them know you would like to make a large purchase with a convenience check and pay it off in 10 to 11 months (for some reason i actually think this makes a difference, lol). You can always BT off anything left over if emergencies arise. You may spread it over 2 lenders to lessen the utilization on individuals.
Congrats on the new bike and ride safely. :]
I wonder if lenders note your account if you check in first and ask if it is ok to make a purchase? I did this with Barclays and have purchased a few boats/motors from private sellers by depositing BT checks directly into my account and have had no issues with them. Payments were either within a week in full or $500 to $1500 per month. I have maxed my cash limit 4 times. I have been practicing "pay myself first" and am collecting much more savings than ever before but don't touch it. If a great deal shows up and I can make a couple thousand, then I try to make it happen and yes, I expected CLD but if I can't use a cash card for cash then ehhh, and I can easily turn to USAA if Barclay kicks me to the curb. I had under 2 years relationship with Barclay when I used them for the purchases. I haven't made one in 3 months and my limit is still intact. I will probably do the same next winter. Best of luck.
Thanks Elim. Final decision on the model will be done after the last test drive end of March (import permission not yet available)..lol.. What do you mean by cash limit? The BT offers I took in the past were deposits into my bank account but way over the cash limit on my cards (as I have manually lowered them) and treated as regular BT same as for purchases. On the check it says up to the amount of the CL. I might actually take advantage of both offers to keep utilization in yellow range instead of going dark red. Maybe I will be lucky to get the offer back that expired last month...we will see.. if this is the case I will hit everything on Cap1 and still pay down within 12 months and not 18 months. Let's keep fingers crossed that the offer comes back as this was the very best ever. In December I hesitated to take advantage of it with no plans yet but let it go by as a few new card apps were planned ...so now only two offers left.
A new motorbike sounds fun! so cooool
Barclay Ring convenience checks are available year round. They are at Barclays discretion whether or not they are BT or CA.
Per Barclay...
" “Check” or “Convenience Check” means an access check we provide to you to make a Cash Advance or a Balance Transfer as applicable on your Account. A Check can be either a Balance Transfer Check or a Cash Advance Check and will be designated as such by us."
Everything on Ring is 8% unless a 0% offer is there.
I do get Chase and Cap1 2%/0% Checks all the time but I pay it back so fast I would be losing Money due to the 2% BT fee.
@Ring = $3000 @ 8% = $19.73 interest per month (plus the $3 cash/BT fee on any amount) = $22.73
@Anonymous or Cap1 = $3000 @ 2% BT fee = $60.00
May I ask where you found this info that Barclays can change it to a CA instead of a regular BT? My checks read that I can deposit into my bank account and nothing is mentioned that it could be treated as CA. It says write a check to yourself for renovations, home improvements or special purchases. ...that would be a no go on Sallie Mae if considered CA but I cannot find anything . The last one I used was also into my checking account and treated the same way as a regular BT. Can Barclay decide when posting the check to my account? I would hate to gamble and need to know up front.
No big deal. If it's a CA, then you pay a $3.00 fee. If it's a BT, then you don't.
My ring is doing my Beemer in '17.
*edit: when Barclays sees a business dropping the check, it'll go to BT.
@Burned2manybridgesB4 wrote:
@lg8302ch wrote:
@elim wrote:
@lg8302ch wrote:
@elim wrote:That's a money saver.
I would call up the lenders and let them know you would like to make a large purchase with a convenience check and pay it off in 10 to 11 months (for some reason i actually think this makes a difference, lol). You can always BT off anything left over if emergencies arise. You may spread it over 2 lenders to lessen the utilization on individuals.
Congrats on the new bike and ride safely. :]
I wonder if lenders note your account if you check in first and ask if it is ok to make a purchase? I did this with Barclays and have purchased a few boats/motors from private sellers by depositing BT checks directly into my account and have had no issues with them. Payments were either within a week in full or $500 to $1500 per month. I have maxed my cash limit 4 times. I have been practicing "pay myself first" and am collecting much more savings than ever before but don't touch it. If a great deal shows up and I can make a couple thousand, then I try to make it happen and yes, I expected CLD but if I can't use a cash card for cash then ehhh, and I can easily turn to USAA if Barclay kicks me to the curb. I had under 2 years relationship with Barclay when I used them for the purchases. I haven't made one in 3 months and my limit is still intact. I will probably do the same next winter. Best of luck.
Thanks Elim. Final decision on the model will be done after the last test drive end of March (import permission not yet available)..lol.. What do you mean by cash limit? The BT offers I took in the past were deposits into my bank account but way over the cash limit on my cards (as I have manually lowered them) and treated as regular BT same as for purchases. On the check it says up to the amount of the CL. I might actually take advantage of both offers to keep utilization in yellow range instead of going dark red. Maybe I will be lucky to get the offer back that expired last month...we will see.. if this is the case I will hit everything on Cap1 and still pay down within 12 months and not 18 months. Let's keep fingers crossed that the offer comes back as this was the very best ever. In December I hesitated to take advantage of it with no plans yet but let it go by as a few new card apps were planned ...so now only two offers left.
A new motorbike sounds fun! so cooool
Barclay Ring convenience checks are available year round. They are at Barclays discretion whether or not they are BT or CA.
Per Barclay...
" “Check” or “Convenience Check” means an access check we provide to you to make a Cash Advance or a Balance Transfer as applicable on your Account. A Check can be either a Balance Transfer Check or a Cash Advance Check and will be designated as such by us."
Everything on Ring is 8% unless a 0% offer is there.
I do get Chase and Cap1 2%/0% Checks all the time but I pay it back so fast I would be losing Money due to the 2% BT fee.
@Ring = $3000 @ 8% = $19.73 interest per month (plus the $3 cash/BT fee on any amount) = $22.73
@Anonymous or Cap1 = $3000 @ 2% BT fee = $60.00
May I ask where you found this info that Barclays can change it to a CA instead of a regular BT? My checks read that I can deposit into my bank account and nothing is mentioned that it could be treated as CA. It says write a check to yourself for renovations, home improvements or special purchases. ...that would be a no go on Sallie Mae if considered CA but I cannot find anything . The last one I used was also into my checking account and treated the same way as a regular BT. Can Barclay decide when posting the check to my account? I would hate to gamble and need to know up front.
No big deal. If it's a CA, then you pay a $3.00 fee. If it's a BT, then you don't.
My ring is doing my Beemer in '17.
*edit: when Barclays sees a business dropping the check, it'll go to BT.
ah...only 3$ ...... when I hear CA then I hear sirens already as this is something I avoid because of the interest but at 0% it should not matter.
Called Barclays to see if there would be an offer for a SP CLI so I could stay close to the 50% util on the account....but that was not available. I did not expect it to work but figured why not at least try. I got a CLI from 8K to 12K sometime last year (auto-luv) and not sure if already 6 months. But I managed to get an APR reduction on my Aviator Red from 20.24% to 16.24% so the call was not for nothing...ha ha... At the same time I asked if I should call and let them know when ready to write one of these checks for a higher amount and the account specialist said ..no need, just write and deposit this check and go buy whatever you want.
Sounds so tempting and easy .. ..now the motorcycle can arrive... hope there is no delay in import permission and certification then in April it can be on the road.
Thanks everyone for your feedback and info
