Some BT questions

[Anonymous]

I got to thinking last night about balance transfers and have a few questions regarding this. Do you need the primary cardholders card number to do a transfer? Or will an AU cardholder number work? And does a transfer count as a 'spend'? And generally speaking how long does it take to complete the process? I might app for a Discover in the near future and I know that they usually have BT deals or whatever you would call it.

[My_Fako]

1. AU cardholder number work?  (No) Only primary.

2.does a transfer count as a 'spend'? (no) to reach bonus spend etc. 

3.generally speaking how long does it take to complete the process? (Usually 7-10 Business days)

[lg8302ch]

The fastest BT I have ever done was with a convenience check in combination of mobile deposit. All done from my living room.   The amount posted within 24hrs on  my checking account... this was shockingly easy.   As for the speed of a regular BT it heavily depends on card issuers and could take up to two weeks time.

[Anonymous]

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@My_Fako wrote:

1. AU cardholder number work?  (No) Only primary.

2.does a transfer count as a 'spend'? (no) to reach bonus spend etc. 

3.generally speaking how long does it take to complete the process? (Usually 7-10 Business days)

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+1

[takeshi74]

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@Anonymous wrote:
And generally speaking how long does it take to complete the process? I might app for a Discover in the near future and I know that they usually have BT deals or whatever you would call it.

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Time to process can vary from a few days to several weeks so continue to make payments until you verify that it has completed on both ends.

Don't BT when applying.  Make sure you know the limit on the new card and consider how revolving utilization would be impacted by the BT.  Also consider any applicable BT fee.

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@Anonymous wrote:
And does a transfer count as a 'spend'?

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Read the terms to answer such questions.  For Discover:

https://www.discover.com/credit-cards/consumerDIT_terms.pdf

You will not earn Cashback Bonus on cash advances, balance transfers, illegal transactions or on any cash you receive in connection with a purchase at the point of sale through our Cash Over feature.

[Runitup]

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@Anonymous wrote:
I got to thinking last night about balance transfers and have a few questions regarding this. Do you need the primary cardholders card number to do a transfer? Or will an AU cardholder number work? And does a transfer count as a 'spend'? And generally speaking how long does it take to complete the process? I might app for a Discover in the near future and I know that they usually have BT deals or whatever you would call it.

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Disco is fast.  Did two with them and each time it took two days to pay off.

[GetMeSlick]

Recently did Cap1 to BOFA. After submitting online in Cap1, it took 3-4 days to show up in BOFA as payment received from Cap1.

[GetMeSlick]

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@GetMeSlick wrote:

Recently did Cap1 to BOFA. After submitting online in Cap1, it took 3-4 days to show up in BOFA as payment received from Cap1.

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Alternatively, if you got those BT Checks in mailer, its even  super fast.