Re: Re: Re: Re: BT Questions For normal credit card, you purchase $1000 then you pay $1000 when due. If I took the balance transfer offer of $1000 from Bofa at 8.9% Fixed APR + 0% BT, how much is total amount due? Regards, goeast
Re: Re: Re: Re: Re: BT Questions it will be more than $1000 because of accrued interest on the BofA card at 8.9%.
Re: Re: Re: Re: Re: BT Questions i thought i would not be charged with interest if i do a payment in FULL the first month. NOTHING IS FREE Anyway, thanks the_other. Regards, goeast email is on
You normally pay interest on a BT from the first day. It's like a cash advance. The grace period is only for purchases. Some banks will refuse to do BTs after a certain point, especially if it's a teaser rate or a free transfer. But it is true that many banks will send you a check that you can deposit, or EFT it to your account. Citibank does this. If you are only doing it to free up credit limit, and you have the money, why not just make multiple payments each month or request a CL increase. Also, you normally won't get rebates or miles on balance transfers. And Herb, good to see you posting again. I wasn't posting when you were last here, but have been lurking for over a year.
