Balance transfer post date for direct deposit

[percy81]

Hi all,

I have an offer from American Express to do a balance transfer with ZERO balance transfer fee and ZERO apr. however, with all of the craziness surrounding the holidays it slipped my mind about the “must post by date”.

The checks I wanted to use directly to my bank account say “must post to account by December 30th for promo rate to apply” and here we are at December 27th.

If I do the BT to checking account TODAY will I be okay? Or will it take until after the 30th and slap me with the original fee for BT?? I know it takes a few days for BT to take into an effect but will the post date reflect the actual day I submitted it or when it’s finalized into my checking account with no guarantee cleared date? I hope I made sense I’m using my cell phone. Thanks in advance.

[K-in-Boston]

If you deposit it today, it should be fine. Checks are cleared through ACH which normally take 1 business day.

[percy81]

Thanks for the quick reply. However, hypothetically speaking, what if it doesn’t post in time will they hit me with the original fees or they allow me to change my mind if they think it won’t post in time. For instance, say I go to hit submit will they message me with a “This might not post in time and you will be subjected to normal BT rates, do you wish to continue?” Or will they just surprise me with it come December 31st “it didn’t post in time now you owe us a transfer fee and the apr will now be 31.99%”? 😆 just making sure