Drawbacks or pitfalls for doing a large BT to another card

[TheAuthorizedUser]

Was thinking of doing a BT to another card and was curious to how Lenders like Chase or Amex react to them also if a BT is done to a card with 0% apr on purchases and BT's could one get 0% on both at the same time?

[Anonymous]

As long as there's not a huge score difference to trigger a review you should be fine.  It's normal to shuffle debt around if you have a lot of it.  The biggest thing to watch is the BT FEE as it's usually 3-5% up front per transfer.  There's also some nuances between lenders where there are limits on how much you can use as a BT towards your CL.  Also, count on not using the card you BT to since if you make additional charges it starts interest payments on the purchases that keep accruing until the FULL balance is paid off.

[tcbofade]

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@TheAuthorizedUser wrote:
Was thinking of doing a BT to another card and was curious to how Lenders like Chase or Amex react to them also if a BT is done to a card with 0% apr on purchases and BT's could one get 0% on both at the same time?

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That varies with card issuer.

Some lenders WILL allow zero percent BTs AND zero percent purchase for x months simultaneously. 

Some will not.

Sometimes, the SAME lender will have different offers for different customers. 

In MY house, DW can use her Discover for zero percent BTs AND zero percent purchases.

I can NOT.  I am carrying a zero percent BT, and any purchase would acrue interest.

I know that HSBC will allow zero percent BTs and purchases simultaniously, Wells Fargo Platinum will...  NFCU generally does not.

YMMV.

[TheAuthorizedUser]

I was thinking the BB&t card would like to use it for gas also but I can get by just doing a BT on it if it won't give both.

[Anonymous]

Do you have a little more info on what you're trying to do?  source card / balance?  complete profile of cards/balances? APR's?  There might be better options depending on what you provide for info.

Is the appeal of BBT the SP approval? (I have 2 of their cards and well, they leave something to be desired personally)

[TheAuthorizedUser]

Recently approved ($6,500) for the BB&T spectrum cash card with 0% apr on bt and purchases for 12 months, wanted to put $3,000 on it from a BT from an amex card that will no longer be interest free within the month. I wanted to make sure doing this doesn't cause my other Banks to freak out (Chase, AMEX) lol.. also my utilization is 8%.

[Anonymous]

50% on BBT shouldn't be an issue w/ Chase / Amex since they'd be 0% after the transfer if I'm reading you correctly.