topic Re: BTs in Credit Cards

BTs

red259 — Wed, 21 Jan 2015 01:40:37 GMT

What do lenders think if you pay a credit card off my doing a BT to another card? Is it the same in their mind as if you PIF from your bank account (not talking about the utilization issue). On my credit report can lenders tell if I paid a credit card via a BT?

Re: BTs

Anonymous — Wed, 21 Jan 2015 01:56:04 GMT

I don' t think other lenders can tell on your report.. I do remember someone reporting on here that American Express took AA against him because he BTed a large amount to another card.

Re: BTs

red259 — Wed, 21 Jan 2015 01:54:48 GMT

@Anonymous wrote:
I don' t think other lenders can tell on your report.. I do remember someone reporting on here that American Express took AA against him because he BTed a large to another card.

BTed to another amex or from amex to someone else?

Re: BTs

Anonymous — Wed, 21 Jan 2015 01:55:36 GMT

@red259 wrote:
@Anonymous wrote:
I don' t think other lenders can tell on your report.. I do remember someone reporting on here that American Express took AA against him because he BTed a large to another card.
BTed to another amex or from amex to someone else?

Someone else

Re: BTs

red259 — Wed, 21 Jan 2015 02:00:43 GMT

@Anonymous wrote:
@red259 wrote:
@Anonymous wrote:
I don' t think other lenders can tell on your report.. I do remember someone reporting on here that American Express took AA against him because he BTed a large to another card.
BTed to another amex or from amex to someone else?
Someone else

So if I BT from amex to a different lender Amex could take AA? That seems petty. Heh.

Re: BTs

Anonymous — Wed, 21 Jan 2015 02:02:58 GMT

@red259 wrote:
@Anonymous wrote:
@red259 wrote:
@Anonymous wrote:
I don' t think other lenders can tell on your report.. I do remember someone reporting on here that American Express took AA against him because he BTed a large to another card.
BTed to another amex or from amex to someone else?
Someone else
So if I BT from amex to a different lender Amex could take AA? That seems petty. Heh.

Hey, I'm not saying they will and they probably won't . I just reported what one person said. It could have been complete BS as well. I'm sure people BT from their AMEX accounts all the time.

Re: BTs

Runitup — Wed, 21 Jan 2015 02:07:04 GMT

I was gonna apply for a BCE with a $250 reward for $1k purchases but to be honest, I don't want to worry about AA/FRs if I BT or up my utilization. Sounds like a lot of drama. It's a good offer, though.

Re: BTs

Anonymous — Wed, 21 Jan 2015 02:09:41 GMT

@Runitup wrote:
I was gonna apply for a BCE with a $250 reward for $1k purchases but to be honest, I don't want to worry about AA/FRs if I BT or up my utilization. Sounds like a lot of drama. It's a good offer, though.

If the card fits what you are looking for just apply. Don't let these reports of AA deter you. They happen a lot less than what it appears from reading this board.

Re: BTs

B335is — Wed, 21 Jan 2015 02:10:07 GMT

Other lenders don't care. BoA and Discover actually seem to like it more than others. I don't think I would read into that Amex story much, it was a one-off deal and any number of other factors could have prompted the AA. If you're really that worried about it just write a BT to yourself and pay Amex the normal way.

Re: BTs

Anonymous — Wed, 21 Jan 2015 02:10:08 GMT

@Runitup wrote:
I was gonna apply for a BCE with a $250 reward for $1k purchases but to be honest, I don't want to worry about AA/FRs if I BT or up my utilization. Sounds like a lot of drama. It's a good offer, though.

You should do it. Don't give up cold hard cash for a no AF card over the fear of things which very very rarely happen to people.

Just

1) Don't lie about your income

2) Don't MS

3) If you must MS, don't MS too much

4) Did I mention how you shouldn't lie about your income?

Re: BTs

Runitup — Wed, 21 Jan 2015 02:13:43 GMT

Lol, thanks guys.

Re: BTs

Involver — Wed, 21 Jan 2015 02:21:08 GMT

I always BT to my bank account and then pay off accounts.

Does it make a difference, probably not. But I like to think it looks better paying off an account rather than BTing it directly to another lender.

Re: BTs

bobbay — Wed, 21 Jan 2015 04:20:33 GMT

@Involver wrote:
I always BT to my bank account and then pay off accounts.

Does it make a difference, probably not. But I like to think it looks better paying off an account rather than BTing it directly to another lender.

how would one do this?

Re: BTs

NRB525 — Wed, 21 Jan 2015 05:44:55 GMT

@Anonymous wrote:
@Runitup wrote:
I was gonna apply for a BCE with a $250 reward for $1k purchases but to be honest, I don't want to worry about AA/FRs if I BT or up my utilization. Sounds like a lot of drama. It's a good offer, though.
If the card fits what you are looking for just apply. Don't let these reports of AA deter you. They happen a lot less than what it appears from reading this board.

For a $1k card? AMEX isn't going to care as long as you pay it off according to terms. You have to really work at it to get AA.

I've had "AA" in the form of CLD when balances were very high, but that's more "appropriate action" on the bank's part than adverse. None of those were from AMEX Centurion Bank because they would never do the low interest cash advance offers that were happening from other banks back in the day.

Re: BTs

takeshi74 — Wed, 21 Jan 2015 14:07:02 GMT

@red259 wrote:
What do lenders think if you pay a credit card off my doing a BT to another card?

A BT is considered like any other payment.

It's not the BT itself that really matters. What you really need to look at is how utilization is impacted on the accounts involved.

@red259 wrote:
Is it the same in their mind as if you PIF from your bank account (not talking about the utilization issue).

BT's and PIF's are two entirely different things. A BT can PIF. A BT can also only be applied to a portion of the balance. For the other part of this question see my comment above.

@red259 wrote:
On my credit report can lenders tell if I paid a credit card via a BT?

You can look at your own report to see. Line items are not reported. Payments may be reported but source of the payment is not.

@red259 wrote:
So if I BT from amex to a different lender Amex could take AA? That seems petty. Heh.

No -- that's called anecdotal evidence. Never attempt to extrapolate a trend based on a single data point no matter what the topic. A point is just a point. A point on its own cannot define a line --- much less a trend.

@Runitup wrote:
I was gonna apply for a BCE with a $250 reward for $1k purchases but to be honest, I don't want to worry about AA/FRs if I BT or up my utilization. Sounds like a lot of drama. It's a good offer, though.

You don't need to worry. The whole fear over all that is severely overblown on myFICO. Utilization is a significant risk factor with all creditors -- not just AmEx. That's why it's the second biggest slice (Amounts Owed):

http://www.myfico.com/crediteducation/whatsinyourscore.aspx