topic Re: Jetblue Card Plus Balance Transfer Offer in Understanding FICO® Scoring

Jetblue Card Plus Balance Transfer Offer

m3rge — Thu, 01 Nov 2018 21:01:28 GMT

Hello!

I recently got the Jetblue Card Plus and with it got a Balance Transfer Promo.

"APR for Balance Transfers

0% introductory APR for the first twelve billing cycles following each balance transfer that posts to your account within 45 days of account opening.

After that (and for balance transfers that do not post within 45 days of account opening) your APR will be 17.99%, 21.99% or 26.99% based on your creditworthiness. This APR will vary with the market based on the Prime Rate."

I have NEVER made a balance transfer and I have couple questions regarding pros and cons.

- Beside the hp from Barclay, doing a BT represents another hp?

- After filling the info for the BT what goes next?

- How long takes the BT to be done?

- How much should I transfer?

Right now I have 2 cards in use which are:

Visa - 6169/14000 current min payment 133
Jetblue - 1400/10000 not posted yet

Thanks in advance!

Re: Jetblue Card Plus Balance Transfer Offer

kxkxkxx — Thu, 01 Nov 2018 21:12:47 GMT

This is MY experience...some of the more seasoned vets on here may have a different opinion....

- Beside the hp from Barclay, doing a BT represents another hp?...........No, it will ask you for the Account # and the total amount you want transferred

- After filling the info for the BT what goes next?...............Once this happens, you wait for everything to clear on both ends.

- How long takes the BT to be done?................They usually say give it 2-3 weeks.....but I have done a few of these and it's usually complete within 1 week. I acutally just did one last week...they were old school and issued a check to the transferring bank and it still was all done in 6 days! (Weekend included!)

- How much should I transfer?.....I will let someone else answer this one, my guess is, they will start asking about % etc as far as what makes sense....IMO, I like to transfer as much as possible, I like to pay 0% !!

Re: Jetblue Card Plus Balance Transfer Offer

SouthJamaica — Fri, 02 Nov 2018 12:47:17 GMT

@m3rge wrote:
Hello!

I recently got the Jetblue Card Plus and with it got a Balance Transfer Promo.

"APR for Balance Transfers

0% introductory APR for the first twelve billing cycles following each balance transfer that posts to your account within 45 days of account opening.

After that (and for balance transfers that do not post within 45 days of account opening) your APR will be 17.99%, 21.99% or 26.99% based on your creditworthiness. This APR will vary with the market based on the Prime Rate."

I have NEVER made a balance transfer and I have couple questions regarding pros and cons.

- Beside the hp from Barclay, doing a BT represents another hp?

- After filling the info for the BT what goes next?

- How long takes the BT to be done?

- How much should I transfer?

Right now I have 2 cards in use which are:

Visa - 6169/14000 current min payment 133
Jetblue - 1400/10000 not posted yet

Thanks in advance!

My advice is: don't do it. You got this card so you could use it for purchases. Doing a balance transfer will screw up your grace period and cause you to pay interest on purchases for which you wouldn't have had to pay interest.

Other reasons not to do it: Barclays is a weird bank and has actually punished customers for taking advantage of their balance transfer offers, treating it as a sign of financial stress. Also you will have to pay a hefty balance transfer fee immediately.

In response to your specific questions:

1. No there's no HP for balance transfers.

2. It goes into processing after you fill in the information.

3. If you're transferring a balance from another major lender's credit card it usually

takes a week.

Re: Jetblue Card Plus Balance Transfer Offer

m3rge — Fri, 02 Nov 2018 19:19:22 GMT

Thanks for your advice!