Morning! Considering taking $10k from my available balance and transferring it directly to my checking account but wanted to see if anyone else who has done this before could possibly answer a couple questions or share their experience.
Would taking this large amount from the available credit set off any alarms with Citi? Less will likely be needed for the surgery but I figured if I do this why not an even $10k. 
This will be my only card balance reporting. Plan to pay $1000 the first month and $300-$500 for the remaining months.
Based on the second picture when I fill out the request am I skipping the portion that says *Pay up to four creditors*? Seems like that should be skipped but the red asterisks make me wonder if I do so would I then get an error message for not completing the form.
How long does it generally take before the funds are available in ones checking account? I believe a bt to lenders can take up to three weeks but this is a little different.
Am I reading the 0% terms correctly, that the 21 months doesn't start until the first transfer? Thats pretty nice since I have until 01/05/16 to request it. With Slate the 0% started immediately for the first 15 billing cycles.
I did use the search function here but not many provided details and the function isn't the greatest with key word searches. Yes, I can call Citi and ask which I may also do but its nice to hear of others experiences here if possible. If anyone has an experience or tips to share I'd greatly appreciate it. Thanks in advance for any assistance.
Thank you! This is the type of feedback I was hoping to receive. Will keep the 50% max suggestion in mind. Two days is crazy fast.
Will keep the 50% max suggestion in mind. Two days is crazy fast.
Got it Think I'll get through my consultations next week and figure out the exact cost before I transfer any amount. This probably wont happen until November. Was curious if Citi would allow $10k but not curious enough to risk having my account closed.
Think I'll get through my consultations next week and figure out the exact cost before I transfer any amount. This probably wont happen until November. Was curious if Citi would allow $10k but not curious enough to risk having my account closed.
@Anonymous wrote:
Got it
I wouldnt worry about citi closing the account. If this is the only account repeatedly showing a balance moving forward, you should be fine. Like mentioned previously, however, you will receive a short term fico hit until the card is back under 50% util.
Eh Im not micromanaging my scores, have nothing I need to apply for in the near future so not really a concern since I know util has no memory. That will fix itself in time. 
Thanks Lyythine
Thanks Lyythine
@Lyythine wrote:
@Anonymous wrote:
Got itI wouldnt worry about citi closing the account. If this is the only account repeatedly showing a balance moving forward, you should be fine. Like mentioned previously, however, you will receive a short term fico hit until the card is back under 50% util.
+1
This of course depends on your overall profile, but see below a pic from CreditKarma, that Citi was at 98% initially, 3 or 4 months ago. That person has a very stable profile (elder relative) and the balance is for a low amount, but percentage was/is high. Monthly payments are 3x the minimum, with some ocasional extra $100 or so. She could pay it off faster, but prefers to use the BT for the whole term.
And in your case, 10k out of 15k won't be that high (percentage-wise).
axlm thank you thats very helpful But now Im not sure if the monthly payments I had in mind will be 2x or 3x the minimum and Id like them to be so thats something to consider. After the first $1k payment is there a way to calculate the minimum due for the remaining $9k? Or would I have to wait and check the statement?
But now Im not sure if the monthly payments I had in mind will be 2x or 3x the minimum and Id like them to be so thats something to consider. After the first $1k payment is there a way to calculate the minimum due for the remaining $9k? Or would I have to wait and check the statement?
Her min payments were like $35 top, right now are like $29, IIRC. I'm pretty sure I read somewhere something about how min payments are calculated (something like 2-3% of certain amount??), but I can't tell you off the top of my head.
But sure many of the gurus here have a clue . Good luck!
Edit: re. min payment calculation, see here, tho not sure how up to date that info is.
Edit 2: after more googling, the minimum payment calculation method should be on your agreement. For example, I found this for a Citi Simplicity:
You may pay all or part of your account balance at any time. However, you must pay at least the minimum payment due by the payment due date each month. Your minimum payment due equals:
1. Any amount past due; plus
2. Any amount over your credit limit; plus
3. The greater of:
• The new balance shown on your statement, if it is less than $20;
• $20 if the new balance is at least $20;
• 1% of the new balance (the result is rounded down to the nearest dollar), plus any billed interest or minimum interest charge; or
• 1.5% of the new balance (the result is rounded down to the nearest dollar).
The minimum payment due is never more than the new balance