Chase has a maximum BT amount/30 days

[NoMoreE46]

I got an offer to do a BT on my

Prime Card.

The interesting tidbit I found out with the offer is that Chase sets a maximum BT amount.   The amount is $15,000 per 30 days.

When looking at my specifics, I was wondering how Chase  had set mine to the $15,000.

[pizzadude]

Guessing it's just another line of defense against fraud, especially considering they'll allow you to "balance transfer" directly to a checking account. 

[GZG]

at least it's a 4% fee and not a 5% fee

[Snnax]

What does it mean to transfer a balance to a checking account?

[NoMoreE46]

Welcome to  myFICO @Snnax .

Some issuers will provide the traditional option of paying another credit card issuer.  Some issuers may also offer to send the funds directly to one's bank account.   This more flexible option allows the recipient to use the funds for any purpose be it to pay off another credit or whatever.   

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@Snnax wrote:

What does it mean to transfer a balance to a checking account?

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[Kforce]

You can borrow money from your credit card with out paying down another card directly.

Which many issuers require.

They let you borrow and have the money deposited into a checking or savings account.

Then you can do what you want with the money, pay off several small debts, or put into

a CD or high yield savings, etc.

When BT fee's are low some borrow money to put in a CD or savings.

With 4% fee + 1.99% APR, cost would be more than most high earning CD'd or Savings.

@NoMoreE46  was to fast  

[Anonymous]

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@NoMoreE46 wrote:

Welcome to  myFICO @Snnax .

Some issuers will provide the traditional option of paying another credit card issuer.  Some issuers may also offer to send the funds directly to one's bank account.   This more flexible option allows the recipient to use the funds for any purpose be it to pay off another credit or whatever.   

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@Snnax wrote:

What does it mean to transfer a balance to a checking account?

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And though it is against terms, in actual fact you could use it to pay down another card at the same bank

[markbeiser]

That is double what AmEx allows on the Cash Magnet and BCE cards.