If I put a BT check into a checking account, is it still 0%?

[Winchester2005]

I am wanting to do a balance transfer to pay off a LOC, thing is since it's not a standard credit card, I'd have to put the BT check into my checking and pay the LOC from my checking account. 

This would be with Key Bank, if that makes a difference the rep wasn't able to answer my question on the phone and said to just try it, wait for statement to cycle, and see what happens (no thanks)

I seem to recall if a BT check is put into a checking account, then the standard APR would kick in, not the promo?

Any data points on this?

[NRB525]

The paperwork and disclosures that came along with the BT check offer should clarify that. Often it says you can use the check to send to another credit card company as payment toward that balance, or to deposit it into checking, with each method getting the BT Fee and the 0% APR rate on the balance.

Where you would have these funds in regular purchases or cash advance, is if you had a regular check access, or requested a cash advance, outside of a promotional APR offer. 

Do you have the paperwork / disclosure sheets that came with the checks? Usually it is all one printed set, with the checks on the same sheet.

[SoCalGardener]

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@Winchester2005 wrote:

I am wanting to do a balance transfer to pay off a LOC, thing is since it's not a standard credit card, I'd have to put the BT check into my checking and pay the LOC from my checking account. 

This would be with Key Bank, if that makes a difference the rep wasn't able to answer my question on the phone and said to just try it, wait for statement to cycle, and see what happens (no thanks)

I seem to recall if a BT check is put into a checking account, then the standard APR would kick in, not the promo?

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Not with any of my CCs. But I have no idea about Key Bank which, as I understand your post, would be the source of the BT, correct? All the fine print on the BT offer should spell out what the terms/conditions are.

Are you using a physical check for this BT or doing it online? If you're doing it online and they give you the option to transfer the money to a bank account, I'd assume it's subject to the promo rate. But the only way to be absolutely sure is read the fine print. All of my BT offers, from Amex to Discover, spell out exactly what the conditions are; yours should, too.

[creditfan]

send your BT strainght to your LOC. It's that simple

[UncleB]

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@Winchester2005 wrote:

I am wanting to do a balance transfer to pay off a LOC, thing is since it's not a standard credit card, I'd have to put the BT check into my checking and pay the LOC from my checking account. 

This would be with Key Bank, if that makes a difference the rep wasn't able to answer my question on the phone and said to just try it, wait for statement to cycle, and see what happens (no thanks)

I seem to recall if a BT check is put into a checking account, then the standard APR would kick in, not the promo?

Any data points on this?

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The only possible problem I see would be if the BT check is from a Key Bank credit card, and you deposit it into a Key Bank checking account to pay off a Key Bank LOC.  This is because the terms of nearly every BT has a prohibition against paying off an account with the same bank.  Even in this case it's not likely to be an issue, but the fine-print is there.

If the BT check is from any other bank I would be really surprised if it was treated any different from any other BT transaction.

Who is the issuer of the credit card with the BT check?  Knowing this will allow us to give you better advice.

[Winchester2005]

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@UncleB wrote:

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@Winchester2005 wrote:

I am wanting to do a balance transfer to pay off a LOC, thing is since it's not a standard credit card, I'd have to put the BT check into my checking and pay the LOC from my checking account. 

This would be with Key Bank, if that makes a difference the rep wasn't able to answer my question on the phone and said to just try it, wait for statement to cycle, and see what happens (no thanks)

I seem to recall if a BT check is put into a checking account, then the standard APR would kick in, not the promo?

Any data points on this?

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The only possible problem I see would be if the BT check is from a Key Bank credit card, and you deposit it into a Key Bank checking account to pay off a Key Bank LOC.  This is because the terms of nearly every BT has a prohibition against paying off an account with the same bank.  Even in this case it's not likely to be an issue, but the fine-print is there.

If the BT check is from any other bank I would be really surprised if it was treated any different from any other BT transaction.

Who is the issuer of the credit card with the BT check?  Knowing this will allow us to give you better advice.

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The credit card is KeyBank, I would be looking to write a balance transfer check from Key Bank credit card to pay off a line of credit at BECU, so I would be putting the check into a BECU checking account than paying the BECU loc from there

[UncleB]

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@Winchester2005 wrote:

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@UncleB wrote:

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@Winchester2005 wrote:

I am wanting to do a balance transfer to pay off a LOC, thing is since it's not a standard credit card, I'd have to put the BT check into my checking and pay the LOC from my checking account. 

This would be with Key Bank, if that makes a difference the rep wasn't able to answer my question on the phone and said to just try it, wait for statement to cycle, and see what happens (no thanks)

I seem to recall if a BT check is put into a checking account, then the standard APR would kick in, not the promo?

Any data points on this?

---

The only possible problem I see would be if the BT check is from a Key Bank credit card, and you deposit it into a Key Bank checking account to pay off a Key Bank LOC.  This is because the terms of nearly every BT has a prohibition against paying off an account with the same bank.  Even in this case it's not likely to be an issue, but the fine-print is there.

If the BT check is from any other bank I would be really surprised if it was treated any different from any other BT transaction.

Who is the issuer of the credit card with the BT check?  Knowing this will allow us to give you better advice.

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The credit card is KeyBank, I would be looking to write a balance transfer check from Key Bank credit card to pay off a line of credit at BECU, so I would be putting the check into a BECU checking account than paying the BECU loc from there

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Unless there's language on the KeyBank check that states the check can't be deposited you should be fine.  I've done this many times with BoA, USAA and Capital One BT checks.  For the record, I've never received BT checks that had a prohibition against being made payable to myself and deposited into a bank account (or had different terms if I did so).

Is there a reason you can't use the check to pay the LOC directly?  That would be the simplest solution.

[KLEXH25]

If the terms of the BT checks allow you to deposit them into a checking account, you should get the promo rate. I did this once with a Discover BT check (deposited into my checking and then paid off the credit card). Of course terms will vary by issuer.

[MJ-san]

What UncleB said ... write the BT check as a payment to the BECU LOC and you'll be fine.

Most CC agreements have language stating if you make the BT check out to yourself or to cash, it will be treated as a cash advance.

Definitely don't do that - you risk a higher Cash Advance fee and very high APR.

[SouthJamaica]

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@Winchester2005 wrote:

I am wanting to do a balance transfer to pay off a LOC, thing is since it's not a standard credit card, I'd have to put the BT check into my checking and pay the LOC from my checking account. 

This would be with Key Bank, if that makes a difference the rep wasn't able to answer my question on the phone and said to just try it, wait for statement to cycle, and see what happens (no thanks)

I seem to recall if a BT check is put into a checking account, then the standard APR would kick in, not the promo?

Any data points on this?

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It totally depends on what's in the fine print that accompanied the check.