I have seen a reference to this in posts, but doing a search I couldn't really find anything that explained it. Can someone fill me in please? )
You have to have an overdraft line of credit attached to your CK account ... BT to the OD LOC and any credit balance gets deposited to your CK account. -mj
bank of america's current promo (4.75% life of balance - no trans fee) allows you to deposit their bt check into your checking acccount.
Maybe it's just late, or I'm dense, but I still don't quite understand. How would it help me to transfer, say, a two thousand dollar balance TOO my checking account? I thought the idea was to end up with extra cash out of the deal?
Sorry for the confusion. The checks i received from Bank of America could be used for balance transfers OR could be used as cash advances - depositing it into your checking account - for the same 4.75% rate.
Oh, I see ) Anybody know Discover's policy on this? My mother just got a Discover Gold with $2k limit and 0% BT for a year.
I've BT'd to a checking account several times. I just give 'em the acct number and the "payment" address. I think it's better to see if your bank has a LOC that you can use to zap money into your checking account. Then send the BT to pay off the LOC balance. This way it's all legit and you won't have to worry about the CC company catching wind of it and turning your BT promo into a very expensive cash advance. RM
