Archieed thread

in the middle of second BT to Wells Fargo Heloc. Last time took 7 days, no other issues though.

From all the detrimental effects brought on by BT 0% deals, I would say the laundering method is the better choice over doing negative balances methods. Get a Credit Union account with one that has no fee cash advances. (check DCU) Have a check mailed to you and then do a BT to the CU CC. This is probably your safest bet. Any negative balances appear to trigger something with most cards, with Citi seeming to be the most lenient. (some exp, mainly based on all the Rama threads I've read)

I did the BT from two of my chase cards and one citi card to my HELOC at Etrade. The transfer took 3 weeks beacuse they couldn't wire it, but they all were able to do it.

tarcapone said:I tried to do a BT from Chase to my BoNY HELOC. India said it could not be done. America said sure, no problem, but when she tried to enter the account number the system was not allowing it. She recommended calling BoNY and asking them how to best do a transfer, but that didn't make sense to me. I think I'll call again and ask to speak to a manager. It's a small enough amount ($12K) that I can transfer it to another BT that is coming due.

By the way, the rep told me that this is a 0% BT for life with no minimum purchase requirements. This seems too good to be true. I think I got the card from a response to an ad in the sunday paper, but I'm not sure. Too many applications to remember.

What tax consequences would occurif you pay your corporation?

So it looks, thus far, that check-card option is the best way to go about it.

Can anyone post their experience of doing BT to check-card 'from Chase CC' and/or 'to BoA check-card'? Did it raise any red flags? How long did it take? (Couple posts suggested that from BoA CC to some check-card had failed, and want to make sure that other way around is fine.)

Thanks everyone for your fantastic input...

xerty said:Economist said:What tax consequences would occur if you pay your corporation?
(I'm not an expert but...) if your company is a sole proprietorship I think there would be no tax consequences.
A sole-proprietorship is different from a corporation.

bump for any other good ideas

has anyone mentioned Citi cards?? you can send the BT to a Citi card and they seem to have no problem with overpayments (if its huge like OP, dont do it all at once!) and they also have an option to send a BT check to yourself. Most of citis BT offers these days for good customers have no transaction fee

BT's to debit/check cards did not work with Chase, Citi for me.

When I used my bank check card to BT.

Chase:
Chase mailed a check to my bank and my bank returned it. (It took about 6 weeks for nothing)

Citi:
Citi called me and canceld my BT transaction (reason no debit cards are allowed).

Citi offers checks, so I end up balance transferring from chase to Citi and deposited citi checks to my account. About month

HELOC may be better option, I will try with chase and post here. My chase 0% offer is ending this month.

MBNA Quantum is a good card to have/get for this. In the five years I've had this card, they have constantly sent me no-fee balance transfer checks with promotional interest rates like 0.9%, 1.9% (currently 1.99%), but never higher than 2.9%. These are good for temporarily creating a quickie low-interest balance on my CC to be paid off by another 0% card like Chase etc., and depositing the money into my checking account.

And by depositing these checks directly into an ING or ED account, the temporary MBNA interest loss is more than made up for by ING's or ED's higher interest rate. So for me, this is a very safe, no-cost method to move 0% balance transfer cash from Any credit card into interest bearing accounts.

The balance transfer to debit card seems like a great idea if it was reliable, but the fact that they sometimes get rejected or lost makes me nervous.