Which cards give you cash on BT?

[RushXTC]

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@lanipayne wrote:

Surprise, surprise!  I was recently approved for the B of A Cash Rewards Visa Signature and was able to do a Direct Deposit in to my checking account (0% until August 2016). 

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I already have that card, Unfortunately it's one of my maxed cards... LOL.

I'm looking for a 2nd one for debt consolidation. I have $25,000 in debt I need to do this to, 11/12 cards. So far my 2nd citi card (AU) I took out $8,300. $5,000 is money people owed me so I need one that reaches at least another 10k CL... So I can drop it down to 3-4 payments. I'll feel more comfortable like that.

[slickshoes182]

You could get a credit union card that has no cash advance transaction fee and a cash advance APR that is the same as its purchase APR (Western FCU is one I have that I use for this purpose.. but I think Apple FCU, BECU, DCU, SDFCU, UNFCU, and many more probably work.. some have a capped transaction fees, though... except for BECU, all the credit unions I listed are open to anyone that joins certain organizations).

The downside is that its an extra account + you would pay interest between when you pull from the credit union card and when the other balance tranfer is processed.

The upsides are:

1. You can tap it anytime and pay it off with cards that insist you use them for balance transfers (not direct deposit or checks).

2. Credit union cards tend to have higher limits than national banks, which will probably help you grow your other cards down the road.

[Kenny]

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@DaveSignal wrote:

I have never tried this, but I would assume that using a BT check to give cash to yourself instead of paying of another creditor will result in the transaction being billed as a cash advance, rather than a BT.

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I've not experienced this and I've done this.

[RushXTC]

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@slickshoes182 wrote:

You could get a credit union card that has no cash advance transaction fee and a cash advance APR that is the same as its purchase APR (Western FCU is one I have that I use for this purpose.. but I think Apple FCU, BECU, DCU, SDFCU, UNFCU, and many more probably work.. some have a capped transaction fees, though... except for BECU, all the credit unions I listed are open to anyone that joins certain organizations).

The downside is that its an extra account + you would pay interest between when you pull from the credit union card and when the other balance tranfer is processed.

The upsides are:

1. You can tap it anytime and pay it off with cards that insist you use them for balance transfers (not direct deposit or checks).

2. Credit union cards tend to have higher limits than national banks, which will probably help you grow your other cards down the road.

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Wow, I did not think about credit unions!

I should try for a DCU card.. Do you know if they have any promotional APR on BT though? I see they don't have BT fees, But I don't see if they offer any promotional APR on it.

[slickshoes182]

I don't see a promo on BT at DCU right now. You could still use DCU for your cash advance, and then use other cards to do a BT from DCU (even cards that don't normally allow their promo to be used for cash advances or direct deposits).

For those that CU that do have a 0% BT offer, which you want to use instead for a cash advance or direct deposit, you should call to verify that it can be used in that way. Also double check about any transaction fees. Right now, however, I see:

-Logix FCU has 0% APR for 12 months on all purchases, cash advances, and credit card balance transfers for 12 months on their Platinum Mastercard. Normally they have no transaction fees, and I don't see any mentioned for the promo. 8.24% Best Regular APR. 

-Apple FCU, 0% for 12 months w/ 3% fee (Their normal cash advances and BTs don't have transaction fees.. just the promos). 5.74% Best Regular APR.

- Looks like BECU's promo just ended.. they had 0% APR, $0 transaction fee but only for 6 months. Their membership is strict though (limited to WA state residents or Boeing Employees). 6.9% Best Regular APR

-UNFCU has 0% for 6 months (It used to be closed, but it looks like now you can join by becoming a member of the United Nations Association of the USA). Their 100K limit on the credit card is the highest I know of for a 0% Cash Advance, 0% BT, no special high rate Cash Advance APR card, though at 9.9% APR they are higher than many CU.

-Patelco CU has 0% for 12 months. 8.15% Regular APR.

-Andrews FCU has 1.9% introductor APR for 9 months, then their best regular APR is 7.99%. No cash advance or BT fees.

-Velocity CU has no transaction fees with 2.99% APR for 6 months, then best rate of 7.99% thereafter.