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I’m looking to purchase a set of hearing aids through Costco. My idea is to purchase $1500 in gift cards online with Discover to take advantage of the quarterly bonus. I would then BT that amount to a 0% offer I have with Cap1.
Will I still get the bonus having transferred that amount immediately? I assume I’ll want to wait until the statement posts and transfer during my grace period, right? Anyone see a problem with this plan?
thanks!
No problem at all with this plan. A balance transfer is just like a payment. As long as the sales transaction posts, you'll get the cashback. You wouldn't *have* to wait until into the grace period to pay it, but I would, for cash flow purposes.
I've done the Costco G/C thing with Discover, Chase and other cards many times in the past. Nice way to rack up a bonus (or meet a spending requirement).
Chris.
All that Discover would know is that you made a $1500 purchase at Costco and paid it off immediately, they wouldn't know it was from a BT so no problem at all. Only thing is to make sure that you let the transaction post on Discover before BTing it to C1 to ensure that you get the bonus.
Someone explain to me how this works since Costco doesn't accept Discover?
You buy the cards online at Costco.com where they do accept Discover to then spend in store.
@Anonymous wrote:You buy the cards online at Costco.com where they do accept Discover to then spend in store.
Ok, thanks.