I WAS THINKING ABOUT DOING A BALANCE TRANSFER FOR 10K AGAINST AN ACCOUNT WITH A ZERO BALANCE TO A O% INTRO FOR 6 MONTHS, THEN PUT THE MONEY IN MY BANK ACCOUNT AND EARN SOME INTEREST @4.50%, AFTER I REQUEST A CHECK FROM THE NO BALANCE CARD. DO THEY "VERIFY" IF YOU HAVE A BALANCE BEFORE DOING THE TRANSFER? THANKS
Balance transfers are NOT verified with the receiving bank...but I would not try it too often. I had an account with a bank that I owed about $1,500.00, I balance transferred $10,000 to it making my balance <$8,500.00> THEY WANTED TO MAKE ME WAIT 3 WEEKS FOR A REFUND CHECK... THEY ALSO MAY ASK WHY????
THANKS GEORGE, I COULD JUST WAIT A FEW WEEKS ANY WAY, STILL BE AHEAD, IF THEY DID ASK, I COULD SAY IT WAS A MISTAKE, I DON'T THINK THEY COULD REVERSE IT.
They won't verify anything. IF they ever thought to you could alwasy say you are planning to make a rather large purchase on that card in the next few weeks after the transfer clears. I have BT'ed all over the place and never had anyone ever verify the balance. I always bt more than the total just in case fees crop up that I don't remember. I have three cards now with credit balances of about $35 to $50.
Some cards have a balance transfer fee...(LIKE UP TO $50.00 OR MORE PER TRANSFER)...so if you balance transfer (AS MUCH AS YOU POSSIBLY CAN) to only one card...that card is over paid, ask for a refund check, deposit it in your own checking account and pay a second and/or third card off with the same $50.00 fee...
