Navy 0% BT offer

[Anonymous]

I have a feeling that if you once received the 0% offer and paid it back before the exp date, meaning they made no Money off of you.

They then offer the 1.99% to recoupe something for their trouble. lol

Though honestly I don't know. Used to get 0% no fee offers from Disco all the time until I started using them, now they charge the fee.

Also the more time offer went from 1.99% no fee to 4.99% with fee.

[Jnbmom]

Navy is quick I did BTs on 2/14/21 but.......

Disco shows zero balance but no where is the payment posted or showing online?

Penfed shows the payment posted but hasn't taken it off balance?

Sheesh why can't anything be simple grrrrr

[Anonymous]

So are you saying that currently neither Bank shows a balance? Would be kind of nice for UT purposes if it posted that way on your CR. lol

I'm in a dilemma about taking NFCU's 1.99 offer. I kind of want to so that I can pay off the remainder of my Loan that's at 8.99%, I just don't want to increase my CC balances right now if I happen to go for that Mortgage in the next two months. Especially if teh lender happens to want me to pay a couple down/off. 

But when I see how much I've already paid in interest.  

[Jnbmom]

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@Anonymous wrote:

So are you saying that currently neither Bank shows a balance? Would be kind of nice for UT purposes if it posted that way on your CR. lol

I'm in a dilemma about taking NFCU's 1.99 offer. I kind of want to so that I can pay off the remainder of my Loan that's at 8.99%, I just don't want to increase my CC balances right now if I happen to go for that Mortgage in the next two months. Especially if teh lender happens to want me to pay a couple down/off. 

But when I see how much I've already paid in interest.  

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As of this morning the payments posted and my accounts are zeroed out . NFCU definitely does their BTs electronically 

[CreditCuriosity]

Just a follow-up did mine this friday night i believe being a BT from PenFef to NFCU and it posted today as 0 balance on Penfed and the BT on NFCU so certainly electronic..  

How long does the offer last for as still need to get some furniture!  Would like to do this weekend if at all possible and get a BT in before the period closes.  assume as long as i have the request in before said closing day being a pending BT I will get the 0% terms or does it have to post prior?  As want to charge on my 3% hsbc card(first year to 10k used about 3-4k of it already and PIF, but other 6-7k in furniture) then BT it off to NFCU.

[Anonymous]

The offer expires 3/2/20, so i'd try to get it to post by 3/1/20 to be safe. Trouble is I don't know how long the actual process is. Even though it's done electronically, it could technically not post to the account for a few days. Hence the verbage for 14-30 business days on most offers. I would say that if you BT'd this Friday, it should be completed by next Friday? Because there's two weekends between now and 2nd.

New accounts seem to have an extra 30 days after approval.

Balance transfer offer: Application must be submitted by 3/2/20. Offer valid for balances transferred from non-Navy Federal credit cards within 30 days of account opening.

[CreditCuriosity]

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@Anonymous wrote:

The offer expires 3/2/20, so i'd try to get it to post by 3/1/20 to be safe. Trouble is I don't know how long the actual process is. Even though it's done electronically, it could technically not post to the account for a few days. Hence the verbage for 14-30 business days on most offers. I would say that if you BT'd this Friday, it should be completed by next Friday? Because there's two weekends between now and 2nd.

New accounts seem to have an extra 30 days after approval.

Balance transfer offer: Application must be submitted by 3/2/20. Offer valid for balances transferred from non-Navy Federal credit cards within 30 days of account opening.

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Actually new information as was curious just got off with NFCU...

Anyone with the 1.99 offer it ends 3/2 as mentioned..

Anyone that was targeted with the 0% for 12 month and $0 fee it WAS EXTENDED for everyone with this offer through March 31st.  She double check and confirmed this on my account .  Very very happy about this as bonus comes first part of march and before I spend alot I would like to know how big or small my yearly bonus will be this year as not just based on my performance but obviously the company I work for performances and earnings are being released this Friday.  

So long story short if you were targeted for the 0/0 offer you were extended for whatever reason.  Not sure why they didnt do this for the 1.99 offer?  Doesn't quite seem right, but just passing on the information.

[Jnbmom]

@CreditCuriosity 

thanks for the tip I may doing a little bit more switching over to Navy, just trying to keep the card around 26% or so.....................................

[Revelate]

Janus: even with the revolving utilization spike the way DTI is calculated (for mandated payoffs) it is almost always better to have that on a credit card as the minimum payment is what's used.

On the flip side possible reduction in credit score (installment loans much more favorable there) so it really depends on your own situation.

Me, once I get through this real life meme: "You get an app, and you get an app, and you get an app!" NFCU explicitly for a balance transfer card will be in my portfolio.  Even 1.99% no fee refinancing of even a 3.5% mortgage: godlike!

[Anonymous]

That's pretty cool, wish I was one of those with the 0% no fee offer, would have been even sweeter!

Though you really can't complain about 1.99%, it's def much lower than just about any other rates. Although it's a wash considering both Amex and Discover lowered their HYSA rates...  Better to break even than to pay out I guess. lol

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@Revelate wrote:

Janus: even with the revolving utilization spike the way DTI is calculated (for mandated payoffs) it is almost always better to have that on a credit card as the minimum payment is what's used.

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That's what i was thinking. Even though it would increase my CC balances, and have a slightly higher UT on one card. It would lower my minimum payments overall, current loan at $484 down to somewhere around $250 max. And given my recent loss to second income source, my goal is to lower DTI as much as possible. Just paid off Citi a couple Months ago, and my CSP BT is about paid off in another month, as well as Discover in about three. BBP will also be paid off in May, though it doesn't factor into personal so no hurry there. 

My only other issue is when they want to fine comb through bank satements, and how far back. Recently went to Chase for checking in May of 19, but if they want info from the previous Bank it will show very low balances after the switch.