topic Re: BT from Citi to Chase - Timing question in Credit Cards

BT from Citi to Chase - Timing question

persica9 — Fri, 14 Feb 2014 17:45:29 GMT

Hi there,

I app'd for Chase Slate on 1/30 and was approved for 2k (woot!). Wanted to take advantage of the 0% BT offer while I pay down some smaller balances on other cards, so I put in a request to BT from Citi to Chase (on or about 2/5). I've seen on here that it can take up to 3 weeks for a BT to go through, so I'm trying to be patient

I logged into my Chase account this morning and saw that the BT was posted to that account two days ago, 2/12. However, when I login to my Citi account, it is still showng the full balance, no sign of balance transfer.

Is this the norm? If so, what's the typical lag time before citi catches up?

Re: BT from Citi to Chase - Timing question

Anonymous — Fri, 14 Feb 2014 17:57:06 GMT

@persica9 wrote:
Hi there,

I app'd for Chase Slate on 1/30 and was approved for 2k (woot!). Wanted to take advantage of the 0% BT offer while I pay down some smaller balances on other cards, so I put in a request to BT from Citi to Chase (on or about 2/5). I've seen on here that it can take up to 3 weeks for a BT to go through, so I'm trying to be patient

I logged into my Chase account this morning and saw that the BT was posted to that account two days ago, 2/12. However, when I login to my Citi account, it is still showng the full balance, no sign of balance transfer.

Is this the norm? If so, what's the typical lag time before citi catches up?

S

give it about 2-3 business days.

Re: BT from Citi to Chase - Timing question

TravellingNomad — Fri, 14 Feb 2014 18:12:42 GMT

it means that they cut the check on 2/12 and is on it's way to citi. once citi receives and process the payment, it will post to your account. when i do bt's it usually takes anywhere from 1-2 weeks before the account i'm paying shows paid.

Re: BT from Citi to Chase - Timing question

rlx01 — Fri, 14 Feb 2014 18:50:38 GMT

@TravellingNomad wrote:
it means that they cut the check on 2/12 and is on it's way to citi. once citi receives and process the payment, it will post to your account. when i do bt's it usually takes anywhere from 1-2 weeks before the account i'm paying shows paid.

This is a metaphorical check. The usually just process a CC refund transaction to the card number you give them for the amount of the BT. Which is why most BTs have a 3% fee (CC processing fee + markup).

Re: BT from Citi to Chase - Timing question

thom02099 — Fri, 14 Feb 2014 20:30:36 GMT

@persica9 wrote:
Hi there,

I app'd for Chase Slate on 1/30 and was approved for 2k (woot!). Wanted to take advantage of the 0% BT offer while I pay down some smaller balances on other cards, so I put in a request to BT from Citi to Chase (on or about 2/5). I've seen on here that it can take up to 3 weeks for a BT to go through, so I'm trying to be patient

I logged into my Chase account this morning and saw that the BT was posted to that account two days ago, 2/12. However, when I login to my Citi account, it is still showng the full balance, no sign of balance transfer.

Is this the norm? If so, what's the typical lag time before citi catches up?

S

Total time between Chase and CITI (or vice versa, from my experience) is 7-10 business days. I've done several and that's always been the case, either direction.

Re: BT from Citi to Chase - Timing question

persica9 — Sat, 15 Feb 2014 23:49:43 GMT

FWIW, it showed up in Citi today, so the lag time was only a couple of days. Total time fromt BT request to showing up in both accounts was 10 days.

Re: BT from Citi to Chase - Timing question

JSS3 — Sun, 16 Feb 2014 00:21:21 GMT

I also got my Slate at the end of last year and wanted to take advantage of the 3 month 0% intro BT offer. I wanted to see what the process was like. I transferred money from Chase to 3 credit cards. It took 10 days from initiation to completion. The website and phone actually told me what date it would be completed, but I forgot. LOL

I recently did a second BT, but... this time I asked that the money be directly deposited into my checking account. That took 3 days. I much prefer doing it this way.