Help on BT

[Anonymous]

I have a BT from CITI 0% for 12 months what % of the available Credit should I use???????

[Anonymous]

---

@Anonymous wrote:

I have a BT from CITI 0% for 12 months what % of the available Credit should I use???????

---

What is your current debt? Whats the CL on the Citi CC? And also whats your UTIL now?

[Anonymous]

My current util is 3% and I have 0% util  on my citi, total available credit limit on all cards - 12000$

[Anonymous]

So you roughly owe <400, I am not really sure what you are asking? Why would you want to BT if you only owe <400?

I'm sorry if I'm missing something, but I really do not understand your question.

[Anonymous]

I want to pay off my school fees and personal cash expenses that will be due in few months. I understand I dont have a huge revolving  debt on CC's but want to use the money for some cash related expenses

[Anonymous]

---

@Anonymous wrote:

I want to pay off my school fees and personal cash expenses that will be due in few months. I understand I dont have a huge revolving  debt on CC's but want to use the money for some cash related expenses

---

ok... So how do you plan to do that?  Are they offering to transfer to your bank account as cash?  A lot of companies have stopped that practice, but if Citi is offering, you can take them up on it.  Transfer whatever you need.  How much are you looking for?

As long as you don't go over your total CL with the transfer plus fees, you are technically fine.  However, the closer you get to maxing out your card, the more scrutiny you will get for a declined transaction or later AA.  Especially if it's a bank account deposit.

From my experience, creditors don't mind if you take full advantage of their BT offers.  A lot of other people on this forum will tell you otherwise from their experience or opinion.  YMMV.

Good luck!

[Anonymous]

Thanks I m planning to use 50% of avaialble credit limit which will look as 12% over all utilization on all my cards

[203bravo]

so you're not really doing a balance transfer... rather you are plannig on doing a cash advance?

[amp0804]

No he is doing a balance transfer. With citi bank you have two options. You can have them send a check to who ever you like or have them deposit the money directly into your account. It is not a cash advance because if it was you would be getting charged a cash advanced rate. With this you get the advantage of no interest for however long the offer is for.

[Anonymous]

Thanks I just checked with CSR about the direct deposit and he confirmed that its a BT and not CA