good thread. i'm curious if anyone doing an AOR balance transfered all of their new cards that wouldn't BT to checking, mail BT checks, etc, would do a BT to a citi card and got a huge credit balance refund check.

chessycatlane said:i know i am gonna get a ton of red on this, but i really dont know anything on any of this stuff and am trying to learn but reading through all of this just makes these finance threads more confusing. i just know the basics about charge cards, cds, bank accounts and checking accounts and am trying to learn but it looks like i need to take a few college finance courses to understand this foreign language you are talking.

anyways would anyone be kind enough to tell me why you would want to overpay your charge account?

Most credit card issuers will not directly give you money as part of a balance transfer - you must transfer it to another account. Citibank will send you a check for excess balance on your credit card. So you can request a balance transfer to your Citi account, get a refund check, and then invest that money and earn interest.

Squeezer99 said:citi now has a BT to bank account on their cards. you should be able to BT to citi and have a negative balance, and then BT to your checking account to bring your BT back to a positive number. don't even have to deal with the checks that way

Not quite sure I get that. Are you saying they will send a negative balance to any checking account as opposed to mailing a check? If theres no 'no fee' bt option on your citi card, then a standard bt of the 'credit' would be costing you $

jdopple said:Speaking of bt's, has anyone had a problem doing a bt from an AMEX card to another AMEX card issued by a different bank (AMEX logo). The AMEX side BT screen does list AMEX as a valid card type, but I was running into a problem getting it to take.

I couldn't transfer to my Citi AMEX card; entering the number on the AMEX site gave me an error. I will try a transfer from AMEX to a Citi MC. Anyone know roughly how long a transfer takes from AMEX to Citi? One of my no-fee BT offers with Citi is expiring soon, so my transfer from AMEX must be done quickly to enable a BT from Citi to get the funds out.

Well, I have two:

May 2006 $12k bt to a $2k card. It took about 3 weeks to get a check after requesting it online, part of which was due to suspected fraud. I had to call in a few times to get the fraud notice resolved.

August 2007 $20k bt to a $7.5k card. I requested this about a week ago and just got a notice yesturday saying that they will be sending the refund check out. No fraud junk nor telephone calls needed so all in all, it was pretty painless. Granted, this go around I had total lines of over $45k with citi, whereas I previously had only the one $2k card.

In the OP Technologist said:Another thing that I MAY try is AFTER I get the BT funds into my citi CC account as overpayment; rather then request a check for the overpayment, I may ask Citi to do a BT to either one of my savings/checking accounts, or (since I already have the hard inqs from AOR) open a citi savings/checking, then move the money myself...
A CitiGold rep told me that I would be charged a cash advance fee if I moved money from a Citicard with a credit balance to my linked checking account. I probably should have called a couple more times to confirm, but I (out of character) took her word for it and requested the credit balance refund.

taewlee said:wouldn't it be faster if you BT to your checking account debit card? i read somewhere sending payments to your checking debit card will fund your checking account. this will not only save time but gas as well.

There's no guarantee that it'll work. It has worked with HSBC in the past, but now various problem has creep up. Citi seemed pretty consistent with issuing refund on credits.

wait a bit for citi bt's before you ask for a refund. or they'll hold it up for a while.

yeah its kinda funny because i've paid off 10K balances before they don't hold that and my credit lines combined are over 100K with citi so their bank hold policy is really lame. If someone were to send a fake (fraud) check in it would take a while before it came back especially if the person was so loaded they wouldn't notice 10K missing from their account lol.

I get the same shebang when i go to the bank. So i walk over to the manager and say no hold please. They type in some override code and boom next day available. I mean with check-21 at its current speed the money is there next day but any sort of fraud could come back months later and be deducted. Paypal Stylee

I have a Citi card that I haven't used for over a year. Its CL is $13,000. Will there be a problem if I do a BT of $5,000 to that card from a different credit card?