Credit Card Question...

[mrSHEiK124]

I'm looking at Citi's Home Rebate Platinum Select and Citi Professional Cash Card. Both offer 0% on Balance Transfers for 12 months with a waived transaction fee. American Express's INSIDE:NYC card has the same offer but for 6 months, along with 0% on purchases. My question is, can an application for a balance transfer be made along with the card; and how soon will the balance transfers be processed (in general).

 

[mrSHEiK124]

PAGING ROSSMAN

 

[larciel]

It should be stated in the application. (BT transfer rate valid only at the time of application) If it doesn't say that, ask them. Normally they give about 2-3 months of time

 

[RossMAN]

Originally posted by: mrSHEiK124
My question is, can an application for a balance transfer be made along with the card; and how soon will the balance transfers be processed (in general).

I'm not sure I understand your question. Normally you use a special link to apply for a credit card/balance transfer. During the application process you specify which accounts you'd like the balance transfer to payoff and how much. Assuming your application is approved and your credit limit is sufficient they mail checks to those creditors.

 

[mrSHEiK124]

Originally posted by: RossMAN

Originally posted by: mrSHEiK124
My question is, can an application for a balance transfer be made along with the card; and how soon will the balance transfers be processed (in general).

I'm not sure I understand your question. Normally you use a special link to apply for a credit card/balance transfer. During the application process you specify which accounts you'd like the balance transfer to payoff and how much. Assuming your application is approved and your credit limit is sufficient they mail checks to those creditors.

How long will it take between applying for the credit card to having the balance paid off to the other creditors?

 

[MixMasterTang]

Originally posted by: mrSHEiK124

Originally posted by: RossMAN

Originally posted by: mrSHEiK124
My question is, can an application for a balance transfer be made along with the card; and how soon will the balance transfers be processed (in general).

I'm not sure I understand your question. Normally you use a special link to apply for a credit card/balance transfer. During the application process you specify which accounts you'd like the balance transfer to payoff and how much. Assuming your application is approved and your credit limit is sufficient they mail checks to those creditors.

How long will it take between applying for the credit card to having the balance paid off to the other creditors?

Some credit cards will immediately approve you, some can take a few weeks. Once approved it takes about a week to get your account setup, and then the balance transfer will be initiated and should only take a few days (up to a week max). So it could process in as little as two weeks, but could take up to 4 at the most (in my experience).

 

[RossMAN]

Originally posted by: mrSHEiK124

Originally posted by: RossMAN

Originally posted by: mrSHEiK124
My question is, can an application for a balance transfer be made along with the card; and how soon will the balance transfers be processed (in general).

I'm not sure I understand your question. Normally you use a special link to apply for a credit card/balance transfer. During the application process you specify which accounts you'd like the balance transfer to payoff and how much. Assuming your application is approved and your credit limit is sufficient they mail checks to those creditors.

How long will it take between applying for the credit card to having the balance paid off to the other creditors?

It varies on creditors but I think the average is around 10 calendar days. Some do it electronically and it's done within 2 days, others take up to 2-3 weeks.

 

[Jumpem]

Originally posted by: mrSHEiK124
How long will it take between applying for the credit card to having the balance paid off to the other creditors?

Pretty much instantly if you are approved.

 

[zig3695]

i just did that to my home rebate card (transferred an old balance to this card), the transfer will clear the old card out in about two weeks. your new card shows the transfer immediately.

 

[kranky]

Keep in mind most BT offers will state you should allow "up to" 6 weeks for the BT to be processed, so you should make your payments to the other card until you see they received the BT payment from Citi. Don't assume it will get there by any particular time.

For the record, the BT's I have done (Citi, Chase, Discover, WaMu) were all delivered within 3 weeks, and all of them were requested with my application.