If they are convenience checks with balance transfer terms attached to them, yes you can deposit them directly into any account or write the check directly to a lender. BoA is loosey-goosey when it comes to cash advance vs balance transfer. Just be aware that the offer will come with a 3, 4 or 5% fee depending on your card terms. (i.e. you deposit $5000 to get 0% for 12 months, you will be charged $150 if your terms state 3% balance transfer fee)
@Anonymous wrote:
Today I received some blank checks in the mail from Boa. Can I write these out to myself and use them just as I would with a BT?
If you're planning on depositing the money then you can just go on their website and do a direct deposit, there will be a link to follow. Assuming you got the same thing I got then you'll have 0% APR until Sep or 1.99% until Dec along with a 3% transfer fee. Go to the 'Consolidate Debt or Get Cash' tab on the account home page and then select the 'Deposit Cash to My Checking'. It was an inexpensive way into some stock that I was looking at.
Im suprised i used to get this every month
. Looks like Boa talked with Discover and they dont want to let me do Bts anymore. Doesnt matter though ive learned my lesson on too many bts with Boa haha
. Looks like Boa talked with Discover and they dont want to let me do Bts anymore. Doesnt matter though ive learned my lesson on too many bts with Boa haha
@Anonymous wrote:
Definitely a BT offer with two different offers. Where can I go to request a CLI from BOA before taking one of them? Can a CLI be requested via mobile/app?
Current CL with BOA is $5k, TCL is $100k, what amount can I safely write the check for? Is $3/4K a bad idea?
If you don't have access to a desktop, you can request a desktop version of the site in your mobile browser. Hold down the refresh icon on the BOA page until the Request Desktop Version pops up if you have an iPhone or it's somewhere in the "three dots" I believe on Android. I am not aware of anywhere in the app to do the request.
Once logged in to the desktop site, go to the page for your card and if it is eligible for a CLI, there will be a blue link in the middle of the screen (slightly outdated screen shot but still relevant for CLIs):
Be sure to choose the most appropriate occupation, such as Arms/Ammunition Dealer or Cigarette Distributor (not joking):
And shoot for the moon as they will always counter-offer. Ask for whatever the highest amount you would feel comfortable having (no 3x rules like Amex, if your profile supports a $100k credit line go for it). Expect a HP on TransUnion unless they have pulled a credit report for another reason in the past 30 days. I have lost count of my 4 and 5 digit CLIs with BoA.
60-80% utilization on a single card can lower your credit score until the balance is lowered; BoA doesn't mind you having high utilization on their cards one bit. How much it will affect you depends on your profile and how many other cards are reporting balances and at what percentage.