topic Re: BT Checks galore in Credit Cards

BT Checks galore

CreditCuriosity — Thu, 07 Nov 2019 22:16:36 GMT

Is everyone else receiving balance transfer checks from basically all their lenders? I have never gotten this many BT checks from basically all my lenders before. It is crazy.. You would think it would be after the holidays not before the holidays . It is crazy getting a few lenders sending me them weekly for the last month and a half. Had two lenders with checks in the mail today alone. Never seen anything quite like this before.

Re: BT Checks galore

Anonymous — Thu, 07 Nov 2019 22:21:04 GMT

Since you have so many, just make a few out to me (so they don't go to waste).

Re: BT Checks galore

K-in-Boston — Thu, 07 Nov 2019 22:22:31 GMT

I have not noticed an uptick, but I'm used to getting them constantly. Some lenders send twice a week for the same card! Chase (including on my CSR LOL), Discover, and Bank of America are always the most consistent/persistent for me.

Did you have higher balances reporting the past few months than usual? Maybe the did a SP AR and thought you could use a hand paying those cards down?

Re: BT Checks galore

CreditCuriosity — Thu, 07 Nov 2019 22:25:13 GMT

Today was 5/3 and Synonvous last week was BofA and Citi (i think), prior week was PenFed and has been more shrug. I am carrying 2k balance on 0% atm, nothing huge.. Just a weird time for me is all and debt has gone down alot this year as paid off alot of the 0%, etc..So not really profitable to them persay or such a small amount. Just strange as expect it would be jan/feb time frame shrug.

Re: BT Checks galore

Remedios — Thu, 07 Nov 2019 22:29:00 GMT

Yes, but only because I dont need them right now

Re: BT Checks galore

K-in-Boston — Thu, 07 Nov 2019 22:32:10 GMT

@Remedios wrote:
Yes, but only because I dont need them right now

Of course! That's the way of the credit world. Show me the person that doesn't need to borrow some money and I'll show you 50 lenders willing to give it to them.

Re: BT Checks galore

CreditCuriosity — Thu, 07 Nov 2019 22:35:52 GMT

Ya I need to deposit BT checks with a 3% fee into my bank account like I need a hole in my head. If I had a sure investment that returned say 10+% I would consider, otherwise heck no

Re: BT Checks galore

Anonymous — Thu, 07 Nov 2019 22:51:32 GMT

@K-in-Boston wrote:
I have not noticed an uptick, but I'm used to getting them constantly. Some lenders send twice a week for the same card! Chase (including on my CSR LOL), Discover, and Bank of America are always the most consistent/persistent for me.

Did you have higher balances reporting the past few months than usual? Maybe the did a SP AR and thought you could use a hand paying those cards down?

Yeah. Chase has been really aggressive. Usually get the CSR, FU and Freedom transfer checks in the same mailing.

Re: BT Checks galore

CreditCuriosity — Thu, 07 Nov 2019 23:04:42 GMT

Never get Chase BT checks probably only lender I have that I havent had any bt offers from. Although Discover out of all lenders no offers/checks

Re: BT Checks galore

Aim_High — Thu, 07 Nov 2019 23:15:01 GMT

@CreditCuriosity wrote:
Is everyone else receiving balance transfer checks from basically all their lenders? I have never gotten this many BT checks from basically all my lenders before. It is crazy.. You would think it would be after the holidays not before the holidays

I also get them all year long.

But I have noticed a few more special financing offers and/or BT checks than usual.

Rather have them and not need them than need them and not have them.

Re: BT Checks galore

Anonymous — Thu, 07 Nov 2019 23:24:23 GMT

They stopped now that Citi reported my balance but BBVA was sending me 36 month 9.99% offers. A whole lot of good those do with a $2K limit. 🤷‍♂️

Re: BT Checks galore

ChargedUp — Fri, 08 Nov 2019 04:42:38 GMT

I get flooded with them. Chase, Discover, Elan, and TONS from BoA

Re: BT Checks galore

vpae — Fri, 08 Nov 2019 04:55:49 GMT

you don't say.

Re: BT Checks galore

Anonymous — Fri, 08 Nov 2019 05:33:42 GMT

@vpae wrote:
you don't say.

please tell me that's like years worth!

Re: BT Checks galore

Anonymous — Fri, 08 Nov 2019 05:39:28 GMT

if you are signed up only for online statements with no paper statements mailed, do they still send out bt checks? or do it less often?

Re: BT Checks galore

FlaDude — Fri, 08 Nov 2019 14:41:27 GMT

@Anonymous wrote:
if you are signed up only for online statements with no paper statements mailed, do they still send out bt checks? or do it less often?

Yes, they still send. Unlike others I only get Chase checks occasionally, but DW and I both get BOA checks probably twice a month.

Re: BT Checks galore

GApeachy — Fri, 08 Nov 2019 14:47:33 GMT

Well, well wth....I don't get crp, never even heard of BT checks. Gotta be a member of some swanky club or something?

Re: BT Checks galore

ChessChik47 — Fri, 08 Nov 2019 15:08:03 GMT

I get them weekly too...Chase Freedom Unlimited, PenFed, and BOA (allll the time BOA)...recently got a "sign up for this Personal Loan" advertisement from Penfed (up to $25K) and AMEX for $25K. I don't even have credit card debt...just a mortgage, student loan, and car note. I guess it's better to get the offers and not need to use them, then need the offers and not get them.

Re: BT Checks galore

Aim_High — Fri, 08 Nov 2019 16:19:32 GMT

@GApeachy wrote:
Well, well wth....I don't get crp, never even heard of BT checks.
Gotta be a member of some swanky club or something?

Lol ...

Not really swanky.

Just depends on who your banks are and if you have credit lines available that they want you to use.

Some banks are much more persistent at trying to get you to transfer balances, either via web or email invitations or by (the old-fashioned way) of sending out the Balance Transfer checks that you can write for deposit to account or to pay off another card.

Sometimes they're attached to the back of a paper statement but I've often gotten them in separate mailings from many banks like Chase, Bank of America, Discover, and Capital One.

Also, if your utilization is already moderate to high, they may not send them. It's mostly when you've had a credit line sitting idle for awhile and they're trying to encourage more use of it.

Who are your cards with, @GApeachy ?

Re: BT Checks galore

Stralem — Fri, 08 Nov 2019 16:19:35 GMT

@vpae wrote:
you don't say.

I can't top that, but I too get tons of BT checks in the mail. Usually from Discover, but Citi and Chase are sending them to me regularly now.

Interestingly, I paid off a balance transfer on my Double Cash only last week, but received a fresh batch of checks from Citi yesterday. It was maybe the fourth or fifth transfer I've paid off (and early might I add), so I guess they've been liking the 3% in fees I've been throwing them.

It's cool, though. I've made some nice investments with their money.