topic Re: Cap 1 BT question in Credit Cards

Cap 1 BT question

red259 — Fri, 13 Dec 2024 23:19:15 GMT

I have a large payment due on another credit card. I was thinking about doing a BT to my cap 1 venture X card. There is no transfer fee but the interest on the cap 1 card is the purchase interest rate. I'm just waiting for some vendor payments to clear to pay off card so those should clear within a few days. My question is if I transfer my balance to my cap 1 card is the interest running from the moment I transfer the balance or will I only end up being charged interest if I don't PIF by the next statement due date?

Re: Cap 1 BT question

GZG — Fri, 13 Dec 2024 23:28:17 GMT

@red259 wrote:
I have a large payment due on another credit card. I was thinking about doing a BT to my cap 1 venture X card. There is no transfer fee but the interest on the cap 1 card is the purchase interest rate. I'm just waiting for some vendor payments to clear to pay off card so those should clear within a few days. My question is if I transfer my balance to my cap 1 card is the interest running from the moment I transfer the balance or will I only end up being charged interest if I don't PIF by the next statement due date?

it'll be from the date you do the BT, no grace period on BTs

Re: Cap 1 BT question

KatzNDawgs — Sat, 14 Dec 2024 13:38:27 GMT

Keep in mind that a lot of BTs can take weeks to complete, so I would not rely on that to cover an imminent due date.