ok. I've never done this. Can I balance transfer from my citi card to say my capital one card. Even if i don't owe anything on the my capitalone card? will cap 1 take the check? If its say $2000 over my balance? and post it? Will I be able to get the cash back on a balance refund and then use the intro balance transfer rate as a low interest personal loan? I dont owe anything on my cards right now but i could use a personal loan for $2k-4k for some car stuff. I really need cash not credit and dont want to cash advance the whole amount and get stuck with 19.99% and fees! Can you balance transfer to 1. yourself? (check payable to you) 2. Someone else ? 3. someone elses credit card? hints please.
Re: Question about balance tra I've done it before. Do the balance transfer, and on the card you transfer from, you should end up with a credit balance. Then call and ask for a refund.
Re: Question about balance tra You can have Citibank send a payment to your Cap 1 account. Some companies won't allow you to send a balance transfer to yourself or another individual. It must be sent to a company. I would advise against transferring such a large amount to a zero balance card if time is an issue. You will get your money back, but it may take awhile. A lot of companies won't issue a refund for 3-4 weeks, depending on the amount of the overpayment (they want to make sure the payment they received cleared).
Re: Question about balance tra Sam, if you use the transfer from Citibank, they will send you a check directly and you can use it as you wish. I just did this recently and had the check in 8 days, I am not sure all banks do this but I do know Citibank does.
Re: Question about balance tra Couldn´t you make a Cash advance from Cap One Example $1100 and then send the citibank balance transfer check (Ex $ 2500) to them and ask for the credit refund?.
Re: Question about balance tra Actually you can have the first $1K of the BT register as a PURCHASE (meaning you enjoy a grace period, unlike a BT transaction). Just move the money to a Yahoo's PayDirect account, change your CC details to the Cap 1, and then move the PayDirect balance back to the credit card. I've just done the to make a fee-free & interest-free BT from my Amex Blue to the Amex Opt Plat. Works like a charm, and it's not against Yahoo's policy, because I did not move the money to my own checking account. Saar
