topic Re: CITI Simplicity BT question in Credit Cards

CITI Simplicity BT question

percy81 — Mon, 25 May 2015 13:59:23 GMT

Hey myficoers,

I did my first BT on May 13th and I'm not too familiar with the BT protocol. It's been since May 13th and still showing "pending authorization" when I log into citi account. The available balance is reflecting the transfer but the actual balance on the card shows zero. My other accounts that I transferred list no recent activity.
Is it normal for it to take this long? If it doesn't show any activity by the first week of June I will pay my minimum due on the accounts I transferred just in case.
What's the standard time frame for Citi? Getting worried that my BT will be rejected.

Tia

Re: CITI Simplicity BT question

Anonymous — Mon, 25 May 2015 14:01:32 GMT

Thats very long for a balance transfer. I'd give CIti a call to see what the delay is. Balnce transfer usually take 3-5 days.

Re: CITI Simplicity BT question

JSS3 — Mon, 25 May 2015 14:21:07 GMT

A BofA rep told me the first BT will take 14 days because of the CARD act. Don't remember if it was the first BT on a new card, or just the first BT on a card, period.

My card was new.

Re: CITI Simplicity BT question

Anonymous — Mon, 25 May 2015 14:24:45 GMT

@JSS3 wrote:
A BofA rep told me the first BT will take 14 days because of the CARD act. Don't remember if it was the first BT on a new card, or just the first BT on a card, period.

My card was new.

@JSS3,

My Discover card was new and did a balance transfer which took 3-5 days. Also, OP is better off caliing Citi and checking why so long instead of going of on what a BOA rep. said.

Re: CITI Simplicity BT question

Anonymous — Mon, 25 May 2015 14:29:28 GMT

All my balance transfers with Slate took exactly 7 days to process but it was another 2-3 days before the payments showed. If there's no change by Wednesday you may want to call Citi.

JSS3 not sure about the accuracy of that reps information...

Re: CITI Simplicity BT question

JSS3 — Mon, 25 May 2015 14:51:43 GMT

Notation: I was receiving a check to my bank account when the rep said that. I believe it was because it was a check? Not sure.

Yes, everyone's experiences, as always, will vary. I'm sharing mine. In no way does that mean that she shouldn't keep a watchful eye and then follow up with Citi. Just a data point. I, myself, have had varying results with BTs. No Citi BTs but below shows that YMMV.

BoA BT to checking

requested 4/27/15

deposited 5/8/15

First Chase Slate

requested a BT 9/14/13

BT stopped "pending" and posted on Chase 9/23/13

credited to the recipients 9/25/13

Another BT

requested 2/20/14

posted on Chase 2/27/14

credited 2/28/14

Closed that account.

New Chase Slate

requested 4/25/15

BT stopped "pending" and posted on Chase 4/30/15

credited to the recipients 5/1/15

DIscover

BT 2/15/15
Showed posted 2/17/15
Applied and Posted to all accounts 2/19/15

Re: CITI Simplicity BT question

percy81 — Mon, 25 May 2015 17:04:51 GMT

I'm wondering because it's a long "holiday weekend" for the delay.

Re: CITI Simplicity BT question

percy81 — Mon, 25 May 2015 17:19:27 GMT

I did some more research online. I found a website listing the protocol for balance transfers for each bank. It DOES say "for Citi bank--14 days from the day account opened." A lot of the banks listed showed a difference in time more current cardholders and people that just opened their account. So I guess I'll know in two days.

Re: CITI Simplicity BT question

JSS3 — Mon, 25 May 2015 18:47:55 GMT

I found a Citi TYP BT!

requested 11/8/14

credited to Chase 11/14/14

I love to test out BTs of different banks. The fee is of no concern.

Re: CITI Simplicity BT question

NRB525 — Mon, 25 May 2015 19:37:27 GMT

@percy81 wrote:
I did some more research online. I found a website listing the protocol for balance transfers for each bank. It DOES say "for Citi bank--14 days from the day account opened." A lot of the banks listed showed a difference in time more current cardholders and people that just opened their account. So I guess I'll know in two days.

With any BT you run, it is always best to follow the warnings, leave an amount on the account you are BT from, which is slightly more than the amount you have to pay as Minimum Payment, and pay that minimum payment on time (or just after the statement becomes available). This ensures you are in control of making that minimum payment and that it is never late. The BT will complete when it does, and it is possible, though not common, for the BT to fail to complete.

Re: CITI Simplicity BT question

Anonymous — Tue, 26 May 2015 05:35:36 GMT

I just openned a new Citi Simplicity and conducted a balance transfer earlier this month (21 months at 0% is pretty sweet). All the 25 different pieces of paperwork/emails I received were very clear in stating that a minimum 14 days waiting before the transfer would begin processing. Yes, seemed pretty odd considering I never waited that long on other cards/accounts, but Citi was true to its word and it took all 14 days.

Re: CITI Simplicity BT question

percy81 — Tue, 26 May 2015 12:05:55 GMT

Thanks. You got the save 21 month intro as me. I finally read the terms and agreement that my packet came with. It shows clear as day "14 days" but it says if BT was initiated AT time of application lol and I did mine when I got the physical card In my hand. Thx for sharing your experience with the same card.
One more day and I will update

Re: CITI Simplicity BT question

percy81 — Wed, 27 May 2015 17:36:26 GMT

UPDATE****this is an update for future myficoers new to balance transfers.

My balance transfers DID go into effect on the 14th day. Discover IT updated my zero balance and along with another card. However, Chase is the turtle in all of this. My new citi balance reflects the Chase transfer but Chase has yet to post the new balance. I'm not too worried because every time I've made my monthly payment it doesn't update for a day or two. Discover was quick.

Thanks everyone for adding your input. Love this forum.