$8000 overpayment on an $8000 CL.
October 2006
They took their time sending the check, but then increased my CL to $9000.

Technologist, I made this little summary on how to get the $ from BT to checking that may help out (keep in mind I didn't ask for a BT on any apps for me personally as I only had one credit card before my own personal AOR). Check with your bank first about the BT to debit card as I hear some banks accept this, some don't (I haven't had the guts to try it, but would like to collect a datapoint for my thread).

$3800 on a $6000 line, Requested check online and got it within a couple of weeks. No Hassle at all.

OP, if Citi is taking some time to cut the check, is it worth doing this ? Sorry, I'm failing to understand the reason and possible hassles if my overpay is much over the CL, though I see many posting pretty large amounts that what I would.

MikeR397 said:Technologist, I made this little summary on how to get the $ from BT to checking that may help out (keep in mind I didn't ask for a BT on any apps for me personally as I only had one credit card before my own personal AOR). Check with your bank first about the BT to debit card as I hear some banks accept this, some don't (I haven't had the guts to try it, but would like to collect a datapoint for my thread).

you cant bt to a debit card it wont work. i have seen idiots try it and it doesn't work.

dodgeman007 said:MikeR397 said:Technologist, I made this little summary on how to get the $ from BT to checking that may help out (keep in mind I didn't ask for a BT on any apps for me personally as I only had one credit card before my own personal AOR). Check with your bank first about the BT to debit card as I hear some banks accept this, some don't (I haven't had the guts to try it, but would like to collect a datapoint for my thread).

you cant bt to a debit card it wont work. i have seen idiots try it and it doesn't work.

apparently it works for hsbc debit cards, if i remember correctly from some recent AOR threads.

Technologist said:MikeR397 said:Technologist, do you have a HELOC? If so, you should be able to get a 16 digit credit card that links to it. In this case, you can send all the $ you want to the HELOC and withdraw it with your checks with no delays and no fees . This appears to be the best way to be able to ask for big BT's on applications in hopes of a higher CL.

no HELOC..... But I have also thought about "the trick" of giving a new CC issuer one of my "Checking Debit Card" numbers as the place to send the BT to.... which will, in effect, place the money directly into my checking account. Don't know which one to try it with though (I have too many choices:

Suntrust Checking
Wamu Checking
Wachovia Checking
BoA Checking
Local CU Checking
NASA Federal CU Checking
HSBC Checking

Don't know if this info is already available, or if I should start a new thread about that. I like the idea of collecting Data points, in specific threads, so that they can be easily checked / updated / used by many!

Thanks again for the replies so far (gonna do some really weird stuff this AOR, like NOT pay down the balance on several of my cards first.... just to see the affect!).

I tried using the CITI online BT form with a debit card. I tried several debit cards, and they were all refused, in real time. I believe the CITI BT application somehow has a way to differentiate a debit card attached to a checking account from a credit card.

Technologist, thanks much for the elaboration.

I do not seem to have no fee BT offers on any of my Citi anymore re-route elsewhere, and seeing some mentions of 30 day delay in processing prior to regular 7 day paper check timings, I'm putting this on hold. I guess those who have to use the reason 'C' have little choice though.

Another avenue to consider is a BoFA card.

The BofA NEA card has a $30 limit on BTs, and BofA transfered the BT funds into checking in 1 day!

This works if you have a massive BofA line - scattered across many is not a problem because BofA personal BT department is very quick to do credit line juggling and then BT.

So in summary:

1. Get a low max-fee BT 0% offer from BoFA,
2. Consolidate as much CL into that card as possible,
3. Take out a large BT,
4. Move funds from other cards into that card,
5. Possibly do step 3 again.

I know every time you do step 3 costs $30 or whatever the max is, but is still an approach.

P.S. I would not advise overpaying any BofA credit card, because I remember one thread where OP got in trouble for overpaying his BoFA card 4x the credit limit. Fraud department got involved quickly and they shut down all his BoFA accts: CC, Deposit, AU, and more.

ChumChurum said:Another avenue to consider is a BoFA card.

The BofA NEA card has a $30 limit on BTs, and BofA transfered the BT funds into checking in 1 day!

This works if you have a massive BofA line - scattered across many is not a problem because BofA personal BT department is very quick to do credit line juggling and then BT.

So in summary:

1. Get a low max-fee BT 0% offer from BoFA,
2. Consolidate as much CL into that card as possible,
3. Take out a large BT,
4. Move funds from other cards into that card,
5. Possibly do step 3 again.

I know every time you do step 3 costs $30 or whatever the max is, but is still an approach.

P.S. I would not advise overpaying any BofA credit card, because I remember one thread where OP got in trouble for overpaying his BoFA card 4x the credit limit. Fraud department got involved quickly and they shut down all his BoFA accts: CC, Deposit, AU, and more.

Not that your post is off topic (although talking Boa when I asked about citi technically is )

I am maxed at BoA for right now... I have over 60K in credit lines with them, and what you proposed is too risky for me.... and won't work for my AOR, as I need to use existing lines (such as citi) to BT the money into...

and @chessycatlane
No red for you from me.... it is confusing, but after a while you will get used to it... no degree necessary (I have non, nor do I work in finance).

The reason to OVERPAY a credit line is to get the $$$$ refunded... It doesn't work with BoA (as noted above), but DOES work with Citi (the whole reason for this thread).

I am going to attempt to SERIOUSLY overpay my citi card (by tens of thousands), then move the money into a HYS (High Yield Savings) account, and get between 5 to 6% on the money I borrowed (for 12 months or 15 months, at 0% interest). I may put it into the 7%, 7 month CD (you can find the thread by searching)....

AOR in a very short time now, thanks to all for the data points (I should've trademarked it, EVERYONE is using "data Points" now....)

and ChumChurum, thanks for the input.... even though I can't use it...