Balance Transfer Checks?

[iDShaDoW]

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@CreditCuriosity wrote:

Although if i was to use a BT I will wait to jan/feb for NFCU offers or Comenity offers again

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Does NFCU have a tendency of sending out BT promos on existing CC's around JAN/FEB of each year?  I got one way back but never saw another.  I've also tried contacting them and asking but the chat support says they don't see any available.

Getting ready to install solar at the house and it would be awesome to be able to get a 0% APR BT going on it.

I've yet to see any promo's in the mail from NFCU, BOA, or AMEX.  I got one recently from Chase but my Credit Limit with them isn't sufficient for what I'd need.

[Shooting-For-800]

Depends on the issuer, but I have ALWAYS written the check to myself and deposited it.

This allows you to pay whoever whenever (including the card that issued to promo.)

Read the terms and see...

GL!

[Shooting-For-800]

BE VERY CAREFULL...

If you do a 0%, do not charge ANYTHING to the account.

Ideally, pay off the card first, do the 0% check, charge nothing else EVER until it is paid off.

If you charge something on most cards, your 0% is over.

Cap One is the only bank that this does not apply to as far as I know...

[Anonymous]

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@iDShaDoW wrote:

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@CreditCuriosity wrote:

Although if i was to use a BT I will wait to jan/feb for NFCU offers or Comenity offers again

---

Does NFCU have a tendency of sending out BT promos on existing CC's around JAN/FEB of each year?  I got one way back but never saw another.  I've also tried contacting them and asking but the chat support says they don't see any available.

Getting ready to install solar at the house and it would be awesome to be able to get a 0% APR BT going on it.

I've yet to see any promo's in the mail from NFCU, BOA, or AMEX.  I got one recently from Chase but my Credit Limit with them isn't sufficient for what I'd need.

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NFCU seems to offer a low or no APR BT in the beginning of the year but they don't always send email about it. This year they had targeted 0% and everyone else got 1.99%. 

I also asked them and they will send you BT checks but they do not work for promo APR offers and will always hit your account at regular purchase APR. 

[EaglesFan2006]

So I logged into Citi and saw I had two offers

1 BT for 0% promo until 9/2020 and 1 for 0.99% promo until 4/2021.  Kind of an interesting option either way.  I'm pretty sure I can pay it all off before September so 0 works, but having that 1% and an additional 7 months alleviates a bit of stress in case some emergency comes up.  Rate goes to 19% after 9/21 with the 0%.  I don't know something to think about I guess!

[K-in-Boston]

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@Shooting-For-800 wrote:

BE VERY CAREFULL...

If you do a 0%, do not charge ANYTHING to the account.

Ideally, pay off the card first, do the 0% check, charge nothing else EVER until it is paid off.

If you charge something on most cards, your 0% is over.

Cap One is the only bank that this does not apply to as far as I know...

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Clarifying this, the 0% remains on the balance transfer portion, just not on the new purchase if the previous statement balance was not paid in full.  If you have a $2000 balance transfer, a new $100 purchase, and a 23.99% APR on purchases, at most you'll end up being hit with $2-4 of interest depending on when the purchase was made in your statement cycle, whether it is a new BT, and when you pay as long as the total is at least minimum payment + new charge(s) + fees/interest.