topic Re: Balance transfer checks? in Credit Cards

Balance transfer checks?

Closingracer99 — Mon, 01 Sep 2014 23:16:34 GMT

They send me the money to my Bank and is considered a Balance transfer with 0% APR? Thinking of moving my Chase Freedom $400 balance to my Citi card so this way i can use the 5% on that card instead of my Discover. UR points i have been trying to rack up and 5% is good.

Re: Balance transfer checks?

B335is — Mon, 01 Sep 2014 23:23:45 GMT

What is the BT fee? Assuming it's 3%, just consider how much spend you need to divert to breakeven.

Re: Balance transfer checks?

Closingracer99 — Mon, 01 Sep 2014 23:26:04 GMT

@B335is wrote:
What is the BT fee? Assuming it's 3%, just consider how much spend you need to divert to breakeven.

Eh it is $11 bucks in Fees for my transfer. I made around $50 in October last year with my discover.

Re: Balance transfer checks?

B335is — Mon, 01 Sep 2014 23:28:52 GMT

@Closingracer99 wrote:
@B335is wrote:
What is the BT fee? Assuming it's 3%, just consider how much spend you need to divert to breakeven.
Eh it is $11 bucks in Fees for my transfer. I made around $50 in October last year with my discover.

I suppose it's negligible and you're doing it for a good reason. Might as well use the Simplicity for something lol.

Re: Balance transfer checks?

Closingracer99 — Mon, 01 Sep 2014 23:34:00 GMT

@B335is wrote:
@Closingracer99 wrote:
@B335is wrote:
What is the BT fee? Assuming it's 3%, just consider how much spend you need to divert to breakeven.
Eh it is $11 bucks in Fees for my transfer. I made around $50 in October last year with my discover.
I suppose it's negligible and you're doing it for a good reason. Might as well use the Simplicity for something lol.

The checks tho or in my case Direct deposit is a Cash advance or considered a Balance transfer right?

Re: Balance transfer checks?

Open123 — Mon, 01 Sep 2014 23:40:50 GMT

@Closingracer99 wrote:
The checks tho or in my case Direct deposit is a Cash advance or considered a Balance transfer right?

Yes, both direct deposits or depositing a cash advance check to yourself will both be considered Balance transfers eligible for the promo rate.

Re: Balance transfer checks?

Closingracer99 — Mon, 01 Sep 2014 23:51:44 GMT

@Open123 wrote:
@Closingracer99 wrote:
The checks tho or in my case Direct deposit is a Cash advance or considered a Balance transfer right?
Yes, both direct deposits or depositing a cash advance check to yourself will both be considered Balance transfers eligible for the promo rate.

Ok thanks i just wanted it faster since it seems 1-2 days for checks and then 14 days for a Balance transfer ...I could do it but it would cut it close with my statement due with Chase.

Re: Balance transfer checks?

B335is — Mon, 01 Sep 2014 23:59:45 GMT

@Closingracer99 wrote:
@Open123 wrote:
@Closingracer99 wrote:
The checks tho or in my case Direct deposit is a Cash advance or considered a Balance transfer right?
Yes, both direct deposits or depositing a cash advance check to yourself will both be considered Balance transfers eligible for the promo rate.
Ok thanks i just wanted it faster since it seems 1-2 days for checks and then 14 days for a Balance transfer ...I could do it but it would cut it close with my statement due with Chase.

Yeah I always use the checks if I'm doing a BT, no patience for them to process the direct deposit.

Re: Balance transfer checks?

Closingracer99 — Tue, 02 Sep 2014 00:01:21 GMT

@B335is wrote:
@Closingracer99 wrote:
@Open123 wrote:
@Closingracer99 wrote:
The checks tho or in my case Direct deposit is a Cash advance or considered a Balance transfer right?
Yes, both direct deposits or depositing a cash advance check to yourself will both be considered Balance transfers eligible for the promo rate.
Ok thanks i just wanted it faster since it seems 1-2 days for checks and then 14 days for a Balance transfer ...I could do it but it would cut it close with my statement due with Chase.
Yeah I always use the checks if I'm doing a BT, no patience for them to process the direct deposit.

Direct deposit it says 1-2 days into my checking account though? or you mean a Transfer?

Re: Balance transfer checks?

B335is — Tue, 02 Sep 2014 00:15:14 GMT

@Closingracer99 wrote:
@B335is wrote:
@Closingracer99 wrote:
@Open123 wrote:
@Closingracer99 wrote:
The checks tho or in my case Direct deposit is a Cash advance or considered a Balance transfer right?
Yes, both direct deposits or depositing a cash advance check to yourself will both be considered Balance transfers eligible for the promo rate.
Ok thanks i just wanted it faster since it seems 1-2 days for checks and then 14 days for a Balance transfer ...I could do it but it would cut it close with my statement due with Chase.
Yeah I always use the checks if I'm doing a BT, no patience for them to process the direct deposit.
Direct deposit it says 1-2 days into my checking account though? or you mean a Transfer?

Sorry, yes I meant transfer. I'm filling out direct deposit form at work haha.