Balance Transfer Question

Anonymous · ‎08-15-2017

I'm trying to Balance transfer a couple cards onto my Quicksilver and this is the first time I've done it. How exactly is it done. I go to Transfer a Balance on Cap One's website and it asks me for an Account Number and Amount. It also shows the amount of credit I have on that card.

I guess I just want to know is if the Account number is the actual Credit card number I want to transfer and how long does it usually take?

Anonymous · ‎08-15-2017

@Anonymous wrote:
I'm trying to Balance transfer a couple cards onto my Quicksilver and this is the first time I've done it. How exactly is it done. I go to Transfer a Balance on Cap One's website and it asks me for an Account Number and Amount. It also shows the amount of credit I have on that card.

I guess I just want to know is if the Account number is the actual Credit card number I want to transfer and how long does it usually take?

They are asking for the account number of the non CapitalOne credit card that you wish to transfer from to your Quicksilver. BTs can take up to 2 weeks to completely process on both ends so you should be prepared to make payments on both accounts until the transfer shows on both.

VipreArmed · ‎08-15-2017

Can balance transfer be viewed negatively by a lender? I'm looking to do the complete opposite of what the OP wants and that's transferring balances FROM Capital One to another card I just got a CLI on. I don't want Capital One to close my accounts if I transfer my balances from them. I want to keep them both open. I've tried searching the forums but has anyone had a negative outcome by transferring balances away from a lender. It would seem like a lender wouldn't want you to do it.

Anonymous · ‎08-15-2017

@VipreArmed wrote:
Can balance transfer be viewed negatively by a lender? I'm looking to do the complete opposite of what the OP wants and that's transferring balances FROM Capital One to another card I just got a CLI on. I don't want Capital One to close my accounts if I transfer my balances from them. I want to keep them both open. I've tried searching the forums but has anyone had a negative outcome by transferring balances away from a lender. It would seem like a lender wouldn't want you to do it.

They won't close your accounts becaues you do a BT. All they see it as is an electronic payment. Definitely won't see it as something negative.

VipreArmed · ‎08-15-2017

@Anonymous wrote:
@VipreArmed wrote:
Can balance transfer be viewed negatively by a lender? I'm looking to do the complete opposite of what the OP wants and that's transferring balances FROM Capital One to another card I just got a CLI on. I don't want Capital One to close my accounts if I transfer my balances from them. I want to keep them both open. I've tried searching the forums but has anyone had a negative outcome by transferring balances away from a lender. It would seem like a lender wouldn't want you to do it.

They won't close your accounts becaues you do a BT. All they see it as is an electronic payment. Definitely won't see it as something negative.

Thanks Irish80. I'm still learning about lenders and what they are sensitive to. I didn't know how it showed if you do a balance transfer. Guess I'll initiate it tonight then. Thanks again.