NFCU Balance Transfer to Checking Account?

[Anonymous]

I just picked up the NFCU Platinum last month with 0% BT for 12 months. Does anyone know if you can balance transfer to your own checking account with another bank?

[Pikaboo-icu]

Congrats!   

I guess I don't exactly understand what you mean BT to your own checking??

If you're wanting to send money to your checking that would be a cash advance.

Unless I'm not understanding correctly. 

[Jnbmom]

As far as I know they don't.

If you transfer from your card it will be a cash advance AND you can only transfer to. NFCU accounts not an external account.

[macinjosh]

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@Pikaboo-icu wrote:

Congrats!   

I guess I don't exactly understand what you mean BT to your own checking??

If you're wanting to send money to your checking that would be a cash advance.

Unless I'm not understanding correctly. 

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Some credit cards have what is called a Direct Deposit Balance Transfer, like Citi, Discover, etc. They deposit it to your bank account, and you choose how to pay the bills with that balance transfer.

[Anonymous]

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@Pikaboo-icu wrote:

Congrats!   

I guess I don't exactly understand what you mean BT to your own checking??

If you're wanting to send money to your checking that would be a cash advance.

Unless I'm not understanding correctly. 

---

Some like Disco allow you to BT right to your checking account. 

I am not aware of any credit union that offers this though, especially since they offer no or low interest penalties for cash advances compared to the major cards. 

[CreditInspired]

OP

Your question is kind of confusing. But let me see if I can help.

Are you trying to BT funds from another CC to your Platinum. If yes, this may be what you need or are looking for:

Open NFCU App on cell phone
Sign in
Click on NFCU Platinum acct
Click on Manage card
Scroll down to Bank Transfer
Click on BT

Is this what you’re looking for?

[Anonymous]

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@CreditInspired wrote:
OP

Your question is kind of confusing. But let me see if I can help.

Are you trying to BT funds from another CC to your Platinum. If yes, this may be what you need or are looking for:

Open NFCU App on cell phone
Sign in
Click on NFCU Platinum acct
Click on Manage card
Scroll down to Bank Transfer
Click on BT

Is this what you’re looking for?

---

No, I do know how to do a balance transfer from another creditor. In the past, I had Discover card and Citi card where you can deposit Balance Transfer check they send you or do the transfer on the phone into your checking account to take advantage of the 0% BT. I was just wondering if NFCU allow the same. 

[Anonymous]

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@Anonymous wrote:

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@Pikaboo-icu wrote:

Congrats!   

I guess I don't exactly understand what you mean BT to your own checking??

If you're wanting to send money to your checking that would be a cash advance.

Unless I'm not understanding correctly. 

---

Some like Disco allow you to BT right to your checking account. 

I am not aware of any credit union that offers this though, especially since they offer no or low interest penalties for cash advances compared to the major cards. 

---

Yeah, this. I would wondering if NFCU would allow this like Discover or Citi.

[Appleman]

One way to accomplish this is to use another card to get a cash advance. PenFed and USAA both have cards that do not charge a cash advance fee (YMMV). Once you obtain the cash, initiate the balance transfer. You will have a small amount of interest on the cash advance. 

Every once in awhile I have received offers to do 0% fee on a balance transfer. I take advantage of those offers when they appear.

Hopefully that helps.

[Anonymous]

FWIW, apparently you *can* balance transfer from a NFCU credit card, via the normal online balance transfer option, to an external account. See this previous post:

https://ficoforums.myfico.com/t5/Credit-Cards/NFCU-Balance-Transfer-Help/td-p/3726938/page/2

YMMV. It appears Navy would just cut a check to your external bank. And then it may all depend on how your external bank treats that check.