Re: Will this Chase BT strategy wor Geo, You're right. As it turns out, Chase customer service was wrong last night when they told me that any amount over $3K would be matched by an equal credit line. See the customer service reponse below from my e-mail I posted in this thread: _____ Hello marci, Our records indicate that there is a $2,000.00 credit line increase associated with the balance transfer offer on your account. This increase will activate if it is necessary to accommodate a balance transfer posting to the account. If a transfer posts for more than the $3,000.00 standard credit line, the full $2,000.00 increase will be added to your account. The $5,000.00 balance transfer that you requested may result in an overlimit situation when the finance charges are added to your balance when the statement closes. To avoid an overlimit situation, you may wish to make a payment to the account. _____ So, I should have waited for this reply before doing the BT last night. I would have just transferred $4800, not the full $5000. It also seems from this e-mail that I was lied to again by Chase customer service. He already knows that I requested to have the $5000 check sent to me. I wonder if that $5000 will post tonight, forcing me to make a payment before the card closes this month. Customer service told me that it would not post until they got the cancelled check back from my bank. :-/ Geo: I too want to convert my classic to a Platinum. When you got the auto increase of $1000 after converting - did they do that with a hard inquiry or without? I thought Chase ALWAYS did a hard inquiry for CL increases (excepting this BT ofer, which is why I'm even doing this at all). Thanks,
Re: Will this Chase BT strategy wor True, but isn't that the best policy a bank can have? Most other banks post it to your account and it starts accruing interest long before the other lender credits your BT payment. I don't think you were lied to, the rep probably just made a mistake. Saar
Let your bill cycle,and then make the transfer once you do that just send chase a $100.00 payment to guard against over limit fees!By doing this you have just got your credit line raised to the new amount that they will give you,and at the same time you have just avoided getting hit with overlimit fees!
Re: Will this Chase BT strategy wor Marci, Why not C2it with your Cap 1 then pay Chase off, then wait till the "refund" appears in your Cap 1 account?
Re: Will this Chase BT strategy wor Saar - I agree that I do like what Chase customer service told me re Chase's policy of waiting until the cancelled check re-appears. Citi doesn't do it that way (but then again, I've never seen Citi randomly send out empty BT/cash advance checks). Hermit - I won't involve Cap One now, as the Chase check will go directly into my bank account. Thanks for the suggestions!
