Converting 0 BT Offers To Cash?

[Anonymous]

@gdale6 ooh perfect thank you! Any CU recommendations for this?

[joltdude]

Oddly enough when i went to do a BT awhile back with Miss Discover.. I was never given the option to deposit to checking... it required I actually enter the card numbers with addresses to pay it off... Was it buried somewhere or I just wasn't eligible for that type of BT?

[Anonymous]

@Saeren no not the checks, how to use these 0 BT fee and 0% BT APR offers. These only give you the option to BT from another CC. I'd like to be able to convert them to cash somehow.

[Anonymous]

@joltdude just did one awhile back w/ Disco over the phone and went straight into checking... @ 3% fee. Would be great if I could find a way to utilize these types of offers same way.

[marmaladepie]

Logix FCU offers $0/0% platinum card. The BT 0% is good for 12mo but purchases or transfers must be made within 60days of account opening. I did this last year. After that, it’s standard APR which was 9% at the time. Still pretty dang low. They overnight a check made out to you to deposit.
The account is managed online very similar to a line of credit attached to a check/savings account that is required to be a member. From time to time, they send out offers to do more BT at a lower 3% rate rather than 0%, but no fee.
Something to keep in mind is that any transfers made after the 60days is considered a cash advance and interest is charged daily from the date of the advance. No fee for that though.

[Anonymous]

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@Anonymous wrote:
@Saeren no not the checks, how to use these 0 BT fee and 0% BT APR offers. These only give you the option to BT from another CC. I'd like to be able to convert them to cash somehow.

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Right it’s the same difference. Convenience checks of BT to checking. Like I said, most of these offers specifically don’t allow you to use them in a manner that results in you getting a free cash loan but if people find them, I am certainly interested in hearing about them. 

[Anonymous]

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@marmaladepie wrote:
Logix FCU offers $0/0% platinum card. The BT 0% is good for 12mo but purchases or transfers must be made within 60days of account opening. I did this last year. After that, it’s standard APR which was 9% at the time. Still pretty dang low. They overnight a check made out to you to deposit.
The account is managed online very similar to a line of credit attached to a check/savings account that is required to be a member. From time to time, they send out offers to do more BT at a lower 3% rate rather than 0%, but no fee.
Something to keep in mind is that any transfers made after the 60days is considered a cash advance and interest is charged daily from the date of the advance. No fee for that though.

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Yeah just the kind of offer I would expect from a CU. Or rather only expect to see from a CU. It actually surprised me that NFCU doesn’t offer anything similar but I guess since they offer low or no APR BTs every year, it’s a decent trade off to have to pay a bit of interest on a cash advance. Looks like I’m not in their geofence though (story of my life). 

[marmaladepie]

I remember when I was searching for the same last year, I just googled 0% 0$ fee cards and Logix came up. Along w First Tech fu and Alliant. Though I don’t know how easy they make it for transfers that are like cash advances etc.

[gdale6]

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@Anonymous wrote:
@gdale6 ooh perfect thank you! Any CU recommendations for this?

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In the footprint of Idaho, Idaho Central CU

[tcbofade]

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@joltdude wrote:

Oddly enough when i went to do a BT awhile back with Miss Discover.. I was never given the option to deposit to checking... it required I actually enter the card numbers with addresses to pay it off... Was it buried somewhere or I just wasn't eligible for that type of BT?

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Sadly, I believe that it IS a bucketing issue.  My wife and daughter have the direct deposit option available to them from Discover, but I do not.  Never have.

Strongly debating closing Discover IT and reapplying in the future...