Credit Tips: Tips on Credit Card Balance Transfers

Posted On: March 10, 2006

Author: directdude2001
Posted: Fri Mar 10, 2006 4:59 pm
Post subject: BT and Authorized Users

Hello

I would like to know if I could BT my wifes balance on her card, to MY new card. I am not an authorized user on her card though. What are the chances the transfer will go through?

Author: rapjunkie
Posted: Fri Mar 10, 2006 6:50 pm
Post subject: Tips on Credit Card Balance Transfers

I think you can do it, although you may want to do it with BT checks from your card just in case, or call your credit card issuer to do it over the phone.

Author: Polonius
Posted: Fri Mar 10, 2006 10:00 pm
Post subject: Tips on Credit Card Balance Transfers

It’s not a transfer–you’re paying off one card by using the credit on another. The banks don’t care who owns the card you’re paying off, nor do they have any way of finding out as long as the card is at a different bank. Nor does the bank that’s being paid off care whether the funds are coming from the account holder, his mother, her lover, a friend, a relative….

You can do it as long as the other terms of the transfer are met.

Author: Ira
Posted: Sat Mar 11, 2006 12:36 am
Post subject: Tips on Credit Card Balance Transfers

Polonius is correct. Technically there is no such thing as a “balance transfer.” Look at it as a two part transaction and you’ll see what I mean.

Part 1: You borrow a sum of money from credit card X

Part 2: You use that money for anything you want, be it paying off another credit card, putting the money into a savings account, or going off on a spending spree (please don’t do that!). To the card issuer it’s all the same. All they care about is that you pay back the borrowed money in accordance with the terms of your cardholder agreement

Credit Tips: Tips on Credit Card Balance Transfers

Posted On: March 1, 2006

Author: Polonius
Posted: Thu May 27, 2004 8:46 am
Post subject: Tips on Credit Card Balance Transfers

I received three checks that I could use on my Sears MC a few weeks ago. One was 1.99% through September; two were 5.99% good until paid. Neither offer had a fee. Checks expire 6/1.

I decided to use the 1.99% offer, but 6/1 is just a few days off and I was sure that the check wouldn’t reach the Sears bank before the expiration date. So I just called its customer service department. I simply asked what balance transfer offers were available to my account–and was told 1.99% good through November. Transfer was made as requested immediately. Took only a minute.

Point: you can get a better deal if you call sometimes. And it does no harm to check now and then to see what’s available.

Author: Board Monitor
Posted: Thu May 27, 2004 9:59 am
Post subject: Tips on Credit Card Balance Transfers

Thanks for the tip Polonius! I have had many similar experiences.
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