i cant find any of the capitalone bt checks at the moment, i may have shredded them. but if they arent sending you the checks along with the emails for the promos, you can call them
@beautifulblaquepearl wrote:
@red259 wrote:
@beautifulblaquepearl wrote:
@red259 wrote:
@beautifulblaquepearl wrote:
I don't see a down side. Is the 3% BT fee less than the interest you will be billed once the introductory period is over? If yes, it's a win-win for you. Enjoy!Oh yes. The interest in the first month would be more than the BT fee for sixteen months. If I couldn't BT it then I would just PIF to avoid the interest.
Okay. Then I would do it. It may be best to deposit the check into your account like someone else mentioned and then make a payment to Barclay. Please verify that writing the check to yourself won't be treated like a cash advance. Keep us posted.
Weird I don't remember seeing that. I wouldn't think they would allow you to deposit a check for a BT like that, since its a special offer to do BT not a cash advance...
Not all institutions consider it a cash advance. I have the ability to direct deposit money into my personal account with Citibank [Simplicity & Double Cash], Bank of America [BBR & Cash Rewards], and Barclay [Ring]. I don't know if it's an option with Capital One which is why I suggested you verify before doing it.
I don't think you can deposit balance transfer checks issued by Capital One as 0% promotion. The idea is to pay off other creditors or credit card balances, otherwise the money could be used as cash advance and has a higher interest rate.
@ddemari wrote:i cant find any of the capitalone bt checks at the moment, i may have shredded them. but if they arent sending you the checks along with the emails for the promos, you can call them
I guess you have a better answer than mine. I didn't know that Capital One can make out a check to you to deposit in your bank account. Live and learn!
@takeshi74 wrote:
@red259 wrote:Is there a downside to doing a balance transfer?
Depends on the specifics and not simply whether one BT's or not. Consider any applicable BT fee. Consider impact to indivdual revolving utilization and how quickly you can pay down the BT card if it ends up with high utilization.
@red259 wrote:I've been carrying a balance on my arrival card for the past year so its not going to change my credit score from what it is now.
It's not just the balance but utilization. I don't see the limit on the source card but 4,000 / 11,000 is 36% which isn't terrible.
@red259 wrote:Would the activity on my venture card help with a potential CLI down the line?
Carrying a balance is a risk factor. If utilization is low and your credit profile is strong then it might be minor risk factor. Don't rely solely on activity for CLI's. Your entire credit profile and income matter for determining what you qualify for.
Source card is only 7.5k so the overall util on that card is much higher than it will be if I BT to Cap 1 card. I'm not concerned about overall util since I have been carrying this balance all along so its not going to change my credit report.
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@Anonymous wrote:
@ddemari wrote:i cant find any of the capitalone bt checks at the moment, i may have shredded them. but if they arent sending you the checks along with the emails for the promos, you can call them
I guess you have a better answer than mine. I didn't know that Capital One can make out a check to you to deposit in your bank account. Live and learn!
I will look into this and may have to chat with them to confirm it. The BT offers they sent me in the mail came with checks, although Im not sure where I placed them. However, my online account also has BT offers showing. I will look closer at the online offers and see if there is an option to pay myself. If so, I guess the best course would be to pay myself with the cap 1 card and then take that money and pay off the barclays card. That way barclays won't know its a BT vs me just PIF (which is to be expected when an intro APR is ending).
