Help - I'm in a panic :(

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So............ I'm almost out of debt, however..... I decided to transfer one balance to another credit card.

I did the transfer online on Sunday.
On Monday, the credit card that will now carry the balance, showed at balance of $6000 (the amount I transferred)

HOWEVER, the old credit card still shows the balance, and it has not been deducted!! And today is Wednesday.

I did call and they said it takes a few days to process, but I don't get it if it is already appearing in the new card.

Has anyone ever had this happen when doing balance transfers?
How many days were you in "double debt" meaning the old card still have the balance, and the new card still carries the balance?

THANKS FOR ANY HELP!

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delzy (Jan. 28, 2013 @ 10:54p) |

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Dude, chill.

Chillax broski, usually takes about a week


Sky is falling
Disclaimer
The sky is falling!

Thanks I'm not a dude though

Is it just me or is it just WIERD that it does not clear from the old account a day or two afterwards, even thugh the debt is in the new account.

I mean WHERE does the money go?????????????

I do not like being in "double debt"

CC-A: Cuts a check for 6k, and adds it to your CC balance.
Check takes a few days in the USPS system.
CC-B: Receives check and deducts 6k from your balance.

As you can see, for a few days, you will see the 6k in your CC-A account but not the corresponding 6k reduction in CC-B account.

The process can easily take a week, especially if a paper check is mailed. If the transfer is done electronically, it can still take 3-4 business days.

Just relax and dont login to your accounts till late Friday.

I like your use of random capitalized words. Well done.

uutxs said:   CC-A: Cuts a check for 6k, and adds it to your CC balance.
Check takes a few days in the USPS system.
CC-B: Receives check and deducts 6k from your balance.

As you can see, for a few days, you will see the 6k in your CC-A account but not the corresponding 6k reduction in CC-B account.

The process can easily take a week, especially if a paper check is mailed. If the transfer is done electronically, it can still take 3-4 business days.

Just relax and dont login to your accounts till late Friday.


Thanks for your response. THey told me it was all done electronically though.

frogmom said:   Thanks I'm not a dude though

When I worked with 4 year olds, sometimes I'd call one of them "dude" and they'd yell "I'm not doody!" -- assuming that "dude" means guy is somehow even more silly.

uutxs said:   CC-A: Cuts a check for 6k, and adds it to your CC balance.
Check takes a few days in the USPS system.
CC-B: Receives check and deducts 6k from your balance.

As you can see, for a few days, you will see the 6k in your CC-A account but not the corresponding 6k reduction in CC-B account.

The process can easily take a week, especially if a paper check is mailed. If the transfer is done electronically, it can still take 3-4 business days.

Just relax and dont login to your accounts till late Friday.


Thanks, your post is definitey the most helpful

frogmom said:   Thanks I'm not a dude though

dudette ?

Unfortunately, This means you now owe a total of $12k. 6k to both credit cards. Sorry, bad luck I guess.

Credit cards almost always post balance transfers as soon as you submit them online....its a quick way for them to gain interest from day zero if there is any interest charged.

Also prevents you from using any more of the limit....

corporateclaw said:   frogmom said:   Thanks I'm not a dude though

When I worked with 4 year olds, sometimes I'd call one of them "dude" and they'd yell "I'm not doody!" -- assuming that "dude" means guy is somehow even more silly.
I am pretty sure that "doody" means something else to a 4 year old.

Now you know why you get so many balance transfer Checks In The Mail. Roughly 78.4% of them are boobytrapped to double the balance you're trying to pay. That's the secret way CC companies make stacks of cash money outside of fees and interest.

RidicuRuss said:   corporateclaw said:   frogmom said:   Thanks I'm not a dude though

When I worked with 4 year olds, sometimes I'd call one of them "dude" and they'd yell "I'm not doody!" -- assuming that "dude" means guy is somehow even more silly.
I am pretty sure that "doody" means something else to a 4 year old.

Yes, Russ, that is the "joke" of the anecdote. That the children thought I was calling them poop, and then I'm saying that thinking it means "guy" is equally silly. Jeez, with the spoon-feeding on FWF



edit: and yes, russ, the joke in this post is equating "explaining a joke" to "spoon-feeding some churning technique"

I noticed that OP received quite a bit of reds. What a tough crowd! OP, the "dudette" (according to mistycoupon), did not know so she asked.

A bit over dramatic, I say. btw. you are a dude unless there's picture to prove otherwise.

Please tell me you are joking

I should have known by the lame title this post was going to suck.

.

I just found out someone deposited $6000 to my account on Monday. I am going to Vegas, Thanks OP.

erutio said:   Unfortunately, This means you now owe a total of $12k. 6k to both credit cards. Sorry, bad luck I guess.
mattun said: Now you know why you get so many balance transfer Checks In The Mail. Roughly 78.4% of them are boobytrapped to double the balance you're trying to pay. That's the secret way CC companies make stacks of cash money outside of fees and interest.
gremlins718 said: I just found out someone deposited $6000 to my account on Monday. I am going to Vegas, Thanks OP.

lol. You guys made my day.
Seriously, leave the poor dudette alone

frogmom is looking more red in the face than green

Double-Debt.............. i like that.

Thanks OP.

lol

Congrats on being 'almost out of debt' and I hope you did a smart balance transfer (no or low fee/capped) and at 0%. Give the 'old credit card' more time to process the payment. You're not in double debt.

Relax.

turtlebug said:   Congrats on being 'almost out of debt' and I hope you did a smart balance transfer (no or low fee/capped) and at 0%. Give the 'old credit card' more time to process the payment. You're not in double debt.

Relax.


Thx, yes I can't wait to be debt free. Technically I coulld be today but I feel I need to keep money in savings just in case.

Seriously though I do have bad luck and the last thing I need is for them to say "we never got it" and the other company say "well we mailed it tough cookies its your fault" HA.. I guess I'd have to hire a lawyer then ha.

Frogmom, consider visiting/posting at ivillage's debt forum. You may find more support there. And before I get bashed by the "fairer" sex for my advice being sexist, I offer the advice with friendly and hopefully helpful intentions. (Frogmom, ivillage is mostly populated by women/chicks/dudettes/skirts/broads/dames and the like. My debt-burdened sister swears by it and says it's very supportive.)

Paging Codename47.

What was the cost of the Balance Transfer and what is the interest rate?? How long will it take you to pay this off?
Your need to have the cash is coming at a very high cost?

Joe328 said:   Double-Debt.............. i like that.

Thanks OP.


2 at a time....cool

frogmom said:   turtlebug said:   Congrats on being 'almost out of debt' and I hope you did a smart balance transfer (no or low fee/capped) and at 0%. Give the 'old credit card' more time to process the payment. You're not in double debt.

Relax.


Thx, yes I can't wait to be debt free. Technically I coulld be today but I feel I need to keep money in savings just in case.

Seriously though I do have bad luck and the last thing I need is for them to say "we never got it" and the other company say "well we mailed it tough cookies its your fault" HA.. I guess I'd have to hire a lawyer then ha.


what is this "ha"?

Unless the interest of the card from is zero or less (example: for 6 months-year) than the interest of the 6K dollars owe, otherwise useless to transfer.

frogmom said:   Please tell me you are joking
No, people don't joke on Fat Wallet.

Seriously - wait a few days, it'll reconcile. One of my recent balance transfers showed on the "transfer to" account immediately and took a week to post to the "transferred from" account.

What...women can be dudes too now? What is slang coming too...

frogmom said:   uutxs said:   CC-A: Cuts a check for 6k, and adds it to your CC balance.
Check takes a few days in the USPS system.
CC-B: Receives check and deducts 6k from your balance.

As you can see, for a few days, you will see the 6k in your CC-A account but not the corresponding 6k reduction in CC-B account.

The process can easily take a week, especially if a paper check is mailed. If the transfer is done electronically, it can still take 3-4 business days.

Just relax and dont login to your accounts till late Friday.


Thanks for your response. THey told me it was all done electronically though.

But its the same principle....

Dude chillax. Most likely it will be cleared automatically by monday. If not on monday you call your bank and clarify and they fix the error you will worst case be out 15 minutes of hold music. Freaking out is counterproductive. Relax dude is generic. Relax this is just a paperwork issue, focus on the big picture.
p.s. I'm also a woman being generically called dude is just a figure of speech and when you freak about about gender when gender is not the issue you make all women look bad.

Skipping 15 Messages...
TakeTheActive said:   Thank you FW Ladies for your input. I appreciate the insight.

I guess, with me at least, it must be a 'Generation Thing'.

As I currently understand it:
Men vs Women = OK
Boys vs Girls = OK
Guys vs Gals = NGBTW, when I refer to a mixed gender / coed group, I use 'Folks' instead of 'People'...

Believe it or not, many see the word "folks" as a pejorative. It's sort of like hillbillies or ignorant people. You'll notice it in the context of political speeches if you watch. It's a way to slight others while pretending you are friendly. Maybe I notice these things because I'm not "folksy".



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