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Is it even possible to BT part of a loan balance onto a CC with a 0% BT offer?

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CreditBones
Regular Contributor

Is it even possible to BT part of a loan balance onto a CC with a 0% BT offer?

I just received an email from WF with a BT offer, 0% interest, 15 months, 4% BT fee.

Would it even be possible to BT part of a loan balance onto a CC (or various CC) with 0% BT offer(s)?

 

Has any of you done this before, successfully?

 

5C65F8B0-F22E-421D-876C-BFCDF65F6F14.jpeg


Edit: forgot the other image from Disco's offer: 0%, 14 months, 3% BT fee

 

6F29F6C2-C337-4B2D-80D3-EC63039594F6.jpeg
Update:

I decided to go with the Disco offer, 3% BT fee and 14 months @ 0%. It says payment processing. So I’ll try to update as soon as I see that the payment posted on the Disco, and the loan’s balance changed. Thank you for y'alls input!

 

AU:

Message 1 of 7
6 REPLIES 6
sxa001
Valued Contributor

Re: Is it even possible to BT part of a loan balance onto a CC with a 0% BT offer?

If you get BT checks you can use those checks to pay the loan.  I did this with a LendingClub loan a number of years ago and it worked well.  Of course in my case I was paying the loan in the full but unless someone knows of a reason why it wouldn't work I don't see an issue.  


Message 2 of 7
Anonymous
Not applicable

Re: Is it even possible to BT part of a loan balance onto a CC with a 0% BT offer?

You can BT any amount, just enter in the amount of the payment for Disco to send. 

Message 3 of 7
Shooting-For-800
Senior Contributor

Re: Is it even possible to BT part of a loan balance onto a CC with a 0% BT offer?

Some offers allow you to write yourself a check.

This allows you to pay who you want, when you want, how much you want.

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Message 4 of 7
CreditBones
Regular Contributor

Re: Is it even possible to BT part of a loan balance onto a CC with a 0% BT offer?

Update:

I decided to go with the Disco offer, 3% BT fee and 14 months @ 0%. It says payment processing. So I’ll try to update as soon as I see that the payment posted on the Disco, and the loan’s balance changed. Thank you for y'alls input!

AU:

Message 5 of 7
Wavester64
Valued Contributor

Re: Is it even possible to BT part of a loan balance onto a CC with a 0% BT offer?


@CreditBones wrote:

I just received an email from WF with a BT offer, 0% interest, 15 months, 4% BT fee.

Would it even be possible to BT part of a loan balance onto a CC (or various CC) with 0% BT offer(s)?

 

Has any of you done this before, successfully?

 

5C65F8B0-F22E-421D-876C-BFCDF65F6F14.jpeg


Edit: forgot the other image from Disco's offer: 0%, 14 months, 3% BT fee

 

6F29F6C2-C337-4B2D-80D3-EC63039594F6.jpeg
Update:

I decided to go with the Disco offer, 3% BT fee and 14 months @ 0%. It says payment processing. So I’ll try to update as soon as I see that the payment posted on the Disco, and the loan’s balance changed. Thank you for y'alls input!

 


With BB&T, I BT part of my car loan to take advantage of the 0% offer seeing that the transfer fee was less than the APR of the loan and I had no issues at all doing so Smiley Happy






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Message 6 of 7
Dalmus
Valued Contributor

Re: Is it even possible to BT part of a loan balance onto a CC with a 0% BT offer?


@sxa001 wrote:

If you get BT checks you can use those checks to pay the loan.  I did this with a LendingClub loan a number of years ago and it worked well.  Of course in my case I was paying the loan in the full but unless someone knows of a reason why it wouldn't work I don't see an issue.  


I did this with a Prosper loan a year or two ago, as well.

 

The best BT offers are the low/no fee ones that let you transfer to your checking account, then you can do with it as you will.  Primarily Discover and CapitalOne.

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Message 7 of 7
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