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Balance Transfer/Bill payment Questions

Valued Member

Balance Transfer/Bill payment Questions

Hi everyone, I’m a little confused about how balance transfers work. Feel free to point me to a different thread if needed. Here’s my scenario:

My Amex bill is due in 2 days. I want to pay this bill by doing a balance transfer to my Chase Freedom. From what I understand, there is not enough time to do this. Is that correct? Is it true that would’ve had to initiate the BT a few weeks ago in order to show this payment being made on time?

My next question is that I keep seeing people say that you can do a direct Balance Transfer deposit into your checking account. Can someone explain that to me? Is that something I can do within 2 days?

I’m just wondering if my best bet is to pay this bill on my own and Forget the balance transfer. I don’t want to have a late payment with Amex. I’ve never been late before. I know it might not report but I just want to keep a good track record with them.

Thanks in advance
Message 1 of 4

Re: Balance Transfer/Bill payment Questions

There is not enough time. Make minimum payment on your Amex account then initiate BT to Chase account

Some lenders allow funds to be deposited to your account and then you distribute them from there, but Chase is not one of them, so that wouldn't work, and with two days left, even if they did, you still would not have enough time

If you want to keep good track record with Amex, dont be late, reportable or not.
Just make that minimum payment and go from there.
Message 2 of 4
Frequent Contributor

Re: Balance Transfer/Bill payment Questions

Yes, this is too little time for a balance transfer to process, as the funds will generally take several days to be available. You would request the transfer earlier to get the payment before it's due.


Even depositing into checking account, it can still take several days and chance is that 2 days still isn't enough. When requesting the transfer you can see the option in your online account. I know lenders including Citi and Chase have this option online. Otherwise, call the credit card company to see if they have balance transfer checks to send to you.


Below is an example of Chase balance transfer to checking account:



Message 3 of 4
Valued Member

Re: Balance Transfer/Bill payment Questions

Wow thanks so much guys! I’ll go ahead and make that payment.
Message 4 of 4
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