US Bank (Elan) credit cards - no fee BT deals are back! (personal only, as of 10/1/08)

It appears they do a $1 authorization on the credit card you want to BT to verify the CC. Once it has been reviewed and verified that it is a valid credit card in your name, they will issue a check and it will mailed to the address provided. Then, the $1 authorization will then be lifted.

oh yes, i know this feeling of insecurity (where's the money???), it happened to me too, the BT just takes a while. That's all.

Thanks just got the Linux card with $17500 CL.

Did a BT on my new roof that was on my penfed cc----was going to transfer it to my heloc---but can't beat 0%

Thanks OP!

I did something dumb. Perhaps you can help me.

I applied for the Linux Card and requested balance transfers of $15K to my AMEX and $15K to my Mastercard. Neither credit card has that much of a balance on it, and I was counting on them to mail me a refund check. But someone said that this causes problems with AMEX and Mastercard. I was reading above and someone suggested a balance transfer to a HELOC, which I should have done in the first place.

How do I go about having the Linux Card balance transfer go to my HELOC instead of AMEX and MC without raising any eyebrows?

darkmeridian said: I did something dumb. Perhaps you can help me.

I applied for the Linux Card and requested balance transfers of $15K to my AMEX and $15K to my Mastercard. Neither credit card has that much of a balance on it, and I was counting on them to mail me a refund check. But someone said that this causes problems with AMEX and Mastercard. I was reading above and someone suggested a balance transfer to a HELOC, which I should have done in the first place.

How do I go about having the Linux Card balance transfer go to my HELOC instead of AMEX and MC without raising any eyebrows?

you do a balance transfer FROM not TO
I'm sure once you understand this basic concept, your other questions will be easier to answer

After submitting your application, you will get an instant decision (or 7-10 days), then you will have a chance to submit you BT request. You need the CC bank, account no and mailing address.

isitamilf said: I don't see the BT options on the online applications(did not fully complete the app yet). Do i need to wait for approval and have the card sent to my house. Can someone here please advise me how you did the transfer.

Has anyone gotten hit with finance charges on a US Bank BT paid off on the due date?

I just saw a finance charge posted to my US Bank even though the BT was paid off (with payment posted on) the due date.

I called and got the finance charge reversed, but the rep says "It's common knowledge you have to pay off promotional balances by the due date of the month in which the promotional rate ends."

Is it just me, or does the statement

"The daily periodic rate of 0.0000% (corresponding Annual Percentage Rate (APR) of 0.00%) applies until 03/31/2009."

...in the letter notifying me of the BT check being issued not mean what it says. It's certainly the way it works with Citi, B of A, FNB, and Chase, with whom I've also done BTs.

I ask because my wife has a US Bank BT that should be due 0n 8/31, but I'm debating whether this is just a fluke or policy and should pay it off on the statement due date.

Any ideas?

Thanks to Horseyman, I decided to call about offers on a 1 year old existing Elan Biz card. (Woodforest, but I bet it doesn't matter.) The rep was able to find a 0% BT for 6 months with no fee. The card had been in the sock drawer for about 6 months.

Platnium.

Thanks for the info. Can one apply for more than one personal cards? It seems that there are some mixed opinions on that. Thanks again.

For those who BT to checking/saving account instead of CC, all you need is to provide account number, bank name, and deposit mailing address? Thanks!

Agent9 said: peabi said: For those who BT to checking/saving account instead of CC, all you need is to provide account number, bank name, and deposit mailing address? Thanks!

Yes

Thanks! Agent9, if you don't mind could you share which bank you used for BT? It seems that BT to FNBO saving account has worked for other poeple. Thanks.

Very good info in this thread.

Quick question... I applied for the US Bank Linux Card and requested a $18k balance transfer on my application. Well, I got the card and the credit limit is $15k.

Has this happened to anyone? I'm just wondering if I should request another balance transfer, say for $14.5k, but don't want to do a duplicated transfer. Or would the original balance transfer request go through at $15k?

Agent9 said: I used a local bank (American Savings). Had no trouble doing the transfer. I think it took all of 5 mins.So did you use option "Pay a bill with your credit card or line of credit" or "Pay another person (or yourself) with your credit card or line of credit"? Thanks.

Agent9 said: I called customer service. They are pretty good. I would recommend doing that.Did you just call them and tell them the bank account # and they put money right into it?

Agent9 said: I used a local bank (American Savings). Had no trouble doing the transfer. I think it took all of 5 mins.

Did you use your debit card number or checking/savings account number?
I used my 10 digital Citibank checking account number, and she said this is not a credit card number.
Then I have to told her my debit card number...

Does anybody have a similar exprience?

lhendricks92 said: Thanks to Horseyman, I decided to call about offers on a 1 year old existing Elan Biz card. (Woodforest, but I bet it doesn't matter.) The rep was able to find a 0% BT for 6 months with no fee. The card had been in the sock drawer for about 6 months.

FYI, I called today regarding my 2 cards to see if any offers were available. 1, an M&T Bank Biz card, had a 3.9% BT for 6 months with 3% no cap BT fee and the 2nd card, a Cambridge Trust, had 0% BT for 6 months with 3% no cap fee or also a 0% on purchases for 6 months so I jumped on the 0% purchases for 6 months.
It seems to vary by card. Anyways I know they typically don't CLR but I think I remember reading about someone (maybe that was you lhendricks92) that transferred $10K of a $15K from one to another. Otherwise if no CLR is possible I'll likely CLI on the Cambridge Trust.

Basic Q?: When you say "use my HELOC", exactly how does that work? It's still a checking account # and a routing #? or do you guys have to provide some debit card # linked to your HELOC?

gyagya said: Basic Q?: When you say "use my HELOC", exactly how does that work? It's still a checking account # and a routing #? or do you guys have to provide some debit card # linked to your HELOC?
Usually the BT offers let you pay off any type of debt, not just credit card debt. I've been successful just giving them my HELOC loan number and bank address.

You don't want to give them a debit card number. If the can't transfer the money electronically, they'll cut a check. I'd hate to think how long it would take for a bank to figure out what to do with a check with a debit card number on it.

json99 said: Using this option you still obtained the $0 fee BT?

What did you put in the BT portion of the application, nothing?

I also read in this thread that the $0 fee/12 mo BT offer is available for the 30 days after application/approval, is this accurate or in writing anywhere?

In my case the CSR told me that the offer is available for the whole 12 months. I confirmed by transferring 4 months after the initial approval. The downside is I only get to use the money for 8 months for free.

To clarify, you can do 0% BTs for free during the promotional period but any balance needs to be paid prior to 12 months after your approval date.