Balance Transfer Question

[Anonymous]

Hi.

I recently got two cards and have a question about balance transfers.

I purchased a ticket on my Jetblue Plus Mastercard last week and want to purchase another one. I haven't received a statement for the card yet. The AMEX I just got has a 0% APR for 12 months and so I was wondering, would I be able to balance transfer the balance to my AMEX without losing the points I just earned on the jetblue card? Do I need to wait for it to actually report on the statement in order to get the points? Also, if I balance transfer the purchase, would that purchase still count towards the $1000 minimum?

[Anonymous]

I have the JetBlue Plus card myself.  A balance transfer off the JetBlue card does not negate the purchases you made. When you do a balance transfer to your amex card from your JetBlue card, all that Barclays see is an ACH or electronic payment.  There are limited ways for transactions not to count toward your minimum spend, which they shoudl outline in the terms.  i.e. you purchase a laptop for $2000, get the points, then return the laptop (assuming you don't make other purchases that put you over spend min).

[Remedios]

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@Anonymous wrote:

Hi.

I recently got two cards and have a question about balance transfers.

I purchased a ticket on my Jetblue Plus Mastercard last week and want to purchase another one. I haven't received a statement for the card yet. The AMEX I just got has a 0% APR for 12 months and so I was wondering, would I be able to balance transfer the balance to my AMEX without losing the points I just earned on the jetblue card? Do I need to wait for it to actually report on the statement in order to get the points? Also, if I balance transfer the purchase, would that purchase still count towards the $1000 minimum?

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On Barclay's  end, your BT would show as payment, so you would not lose anything. You dont need to wait for the statement.

It would count towards minimum on JetBlue card, but not towards minimum spend  requirement on Amex card. 

[pinkandgrey]

Transferring the balance won’t affect your SUB at all. You still made the purchase on the card, so it will still count and you will get your bonus even if you transfer before a statement. BTs don’t count towards spend requirements for SUBS, though, so you won’t be getting anywhere with the Amex. 

[Anonymous]

Thanks for all the quick responses!

Yes, I figured the BT's wouldn't count towards my AMEX but I'm ok with that though because I know I'll hit the SUB for that card as it will be my day to day moving forward. 

Since I'm already in the post I was hoping I could get some advice on what to do with my other cards now that I have two prime cards. I was thinking definitely sock drawer the Credit 1 and then cancel in month 11. The two Cap1 cards both had credit steps and are bucket cards I'm sure so should I sock drawer those as well? Should I even keep the QS1 or cancel it? I've already made enough cash back to cover the AF on that one. 

[pinkandgrey]

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@Anonymous wrote:

Thanks for all the quick responses!

Yes, I figured the BT's wouldn't count towards my AMEX but I'm ok with that though because I know I'll hit the SUB for that card as it will be my day to day moving forward. 

Since I'm already in the post I was hoping I could get some advice on what to do with my other cards now that I have two prime cards. I was thinking definitely sock drawer the Credit 1 and then cancel in month 11. The two Cap1 cards both had credit steps and are bucket cards I'm sure so should I sock drawer those as well? Should I even keep the QS1 or cancel it? I've already made enough cash back to cover the AF on that one. 

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I’ll get push-back here, but I say close the buckets and the Credit One right now. You don’t need them, so make a clean break. You’ll feel better lol. I speak from experience. Enjoy those prime keeper cards. 

[tcbofade]

...and I'll split the difference. 

You can keep the Cap one cards if you want...but they aren't going to grow.

Close Credit One yesterday.

[Anonymous]

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@tcbofade wrote:

...and I'll split the difference. 

You can keep the Cap one cards if you want...but they aren't going to grow.

Close Credit One yesterday.

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I thought that too about the Credit One, but I already paid the annual fee and it still has like 6 months before a year so shouldn't I just sock drawer it to get that little bit of padding on my utilization?

The other thing about the Capital 1 is that it's my longest card so far....13 months.....it was a Platinum that upgraded to a QS.

[pinkandgrey]

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@Anonymous wrote:

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@tcbofade wrote:

...and I'll split the difference. 

You can keep the Cap one cards if you want...but they aren't going to grow.

Close Credit One yesterday.

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I thought that too about the Credit One, but I already paid the annual fee and it still has like 6 months before a year so shouldn't I just sock drawer it to get that little bit of padding on my utilization?

The other thing about the Capital 1 is that it's my longest card so far....13 months.....it was a Platinum that upgraded to a QS.

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My Cap One Plat was my oldest by quite a bit, but I still closed it lol. As for the Credit One, like I said, I’d just close it now. It’s your call of course, but adding a tiny bit of padding to your uti for 6 more months isn’t a huge deal. Good luck!