topic Re: Do BT's affect reward points? in Credit Cards

Do BT's affect reward points?

Anonymous — Mon, 07 Mar 2011 17:17:55 GMT

Just wondering if anyone with a reward card has ever transferred the balance to another card. I know you don't get reward points for the BT on the new card, but do they take points away from the card you transferred FROM? I have read all the documentation and I can't find anything about it. I have the Starwood Amex and we have a hotel stay booked using reward points. Just got a Citi Dividend w/ 0% on BTs for 15 mos and want to transfer $4000 to it. My fear is the Amex will take the points back for the $4000.

Thanks!

Re: Do BT's affect reward points?

jason10 — Mon, 07 Mar 2011 17:41:43 GMT

I don't think a BT will impact your reward points. I've read the cardmember agreements for AMEX and it appears that you only lose the points if you fail to pay the minimum balance on two occasions or the card is closed. The CCC already got the transaction fees from your purchases. If you BT, you are actually lowering their risks, albeit reducing interest payments.

However, the best way to find out is to request your cardmember agreement and the terms and conditions for the rewards program. The latter is probably available online.

Re: Do BT's affect reward points?

Creditaddict — Mon, 07 Mar 2011 22:59:46 GMT

You will not loose your rewards and you will make Amex much happier... they really don't like you revolving balances very long if at all.

Re: Do BT's affect reward points?

haulingthescoreup — Mon, 07 Mar 2011 23:02:56 GMT

Oddly, BofA is now waving an offer at me where a BT up to $7500 will earn 1% in points. It's almost enough to offset the BT fee to be interesting...

Re: Do BT's affect reward points?

Anonymous — Mon, 07 Mar 2011 23:11:32 GMT

Thanks for the speedy reply everyone. This site is great. Glad I found it. I am going to go ahead with the transfer.