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I got the email for the 18 months 0% interest. I tried to balance transfer this years ago into my checking account and ran into trouble. Has anyone figured out a way around this? I think it is meant only to transfer from other credit cards?

Thanks!

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You can send it to a CC with a zero balance. The transfer will show up as an overpayment, then you call and ask for a transfer to your checking. USAA has been the easiest for this, but recently introduced a 5k limit on transfers. So for a large amount you'll have to ask for a certified check, but they will do it for free.

Will most cc's do that for you? Has anyone been turned down doing this?

thriftyy said:   You can send it to a CC with a zero balance. The transfer will show up as an overpayment, then you call and ask for a transfer to your checking. USAA has been the easiest for this, but recently introduced a 5k limit on transfers. So for a large amount you'll have to ask for a certified check, but they will do it for free.

This is a security flag for a lot of issuers and your account will be closed and/or the overpayment held for at least a month.

vipercon said:   thriftyy said:   You can send it to a CC with a zero balance. The transfer will show up as an overpayment, then you call and ask for a transfer to your checking. USAA has been the easiest for this, but recently introduced a 5k limit on transfers. So for a large amount you'll have to ask for a certified check, but they will do it for free.

This is a security flag for a lot of issuers and your account will be closed and/or the overpayment held for at least a month.



AS long as you don't abuse it and have a balance I have found Citibank is pretty good about it. They even have a button on their website to request the check. I had a 1500 balance and paid it with an 8000 transfer -- and had no issues. Note, my line of credit is higher than 8K....

You can also try to time it right by taking a cash advance on your penfed card or other card, transfering it into your penfed regular share account, then performing the balance transfer for that same amount to pay off that cash advance. You end up paying a couple of days of interest on the cash advance (a few dollars) but end up with a legitimate balance to pay off with the balance transfer. It might also involve some moving of funds to settle appropriate accounts but this should raise no red flags.

kdog271811 said:   You can also try to time it right by taking a cash advance on your penfed card or other card, transfering it into your penfed regular share account, then performing the balance transfer for that same amount to pay off that cash advance. You end up paying a couple of days of interest on the cash advance (a few dollars) but end up with a legitimate balance to pay off with the balance transfer. It might also involve some moving of funds to settle appropriate accounts but this should raise no red flags.

If we can balance transfer to PenFed regular share account, would we be able to transfer it from regular share account to a checking?



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