NFCU Balance Transfers

[Appleman]

A question about NFCU CC balance transfers:

The wife and I have been playing around with her utilization and trying to further optimize her reports.

She did 2 BTs to two different BOFA CCs. One has already posted and cleared (3-4 days) on BOFA while the other BOFA account does not show a credit for a BT.

On the NFCU, neither BT has hit her card yet (we are Balance transfering 8% of her CL) and they are both listed as pending.

Any thoughts on why one BT has credited and the other has not shown up yet with BOFA? They were both completed during one log-in session and the first one completed was the one that has already credited on the BOFA site.

Not too worried about it but was interesting that they both did not go through at basically the same time.

Thanks in advance for the replies.

[sunkissed]

Appleman, I do not have an answer to your question.

I have always balanced transferred to my checking account and paid off the credit card from checking. It eliminates the situation you and DW are currently in. That being said, I have never done a BT from BoA, so I'm not sure if they offer that as an option. If they do, I would recommend taking the BT as a deposit to your checking account and paying off the credit card from there in the future.

[txtjjs]

I did 3 balance transfers from cap1 to nfcu last week. All were initiated back to back, but one posted a day earlier than the rest. They all cleared though. I know it wasn't bofa, but it was a case of all of them going to the same bank. I also transferred to a couple of other banks as well, and they posted even later than cap1 even though all of them were done back to back.

[livewire15]

NFCU when processing their Balance Transfers if it isn't a major bank ie CIti, Capital One, Chase or Barclays or a major bank they will cut an actual check and send it to the smaller credit card or bank. I did one to Wells Fargo and it was not part of their network they sent a check out to me and I had to forward to Wells Fargo. I did another one with Synchrony and they mailed a check to them it took a good 10 to 14 days before it got to Synchrony. It did show up on My NFCU about 4 days after but the payment took a while to reach Synchrony. You can call them and they should be able to tell you why but that was my experience. NFCU gets it done just takes some time. They couldn't tell me why other then if it wasn't a major bank or card intheir network they would cut checks. Helped pay off a higher interest with their 0% offer.