I just got my new Chase credit card but I did not see any information about the balance transfer that I requested. When I opened online I set an amount for the balance transfer to my old Citi credit card. My question is do they send the amount automatically to the card? Or will they send me a check?
thanks
2007-09-26 11:48:34 · 7 answers · asked by SHRAZZY 2 in Business & Finance ➔ Credit
They send it automatically but it takes a few days.
2007-09-26 11:55:40 · answer #1 · answered by LeAndra 4 · 1⤊ 0⤋
If you gave them the creidt info for the card you want to pay-off they will send that company a check. It could take up to 6 weeks for the payoff to go through so sit tight. But veriy that it is in the works by calling the new credit card company. I hope you got 0 interest on the balance transfer. SunTrust is offering 0% interest on balance transfers for the first six months...
2007-09-26 13:02:49 · answer #2 · answered by CaseyMae 2 · 1⤊ 0⤋
It could take a few days to process, or it could have gotten lost. Call the number on the back of the Chase card and find out what is happening, and, if nothing, how to start a balance transfer.
2007-09-26 11:56:26 · answer #3 · answered by Ted 7 · 1⤊ 0⤋
The first thing to look out, when a person wants to transfer his balances is a credit card which offers the lowest apr rates and lowest balance transfer fees. Many online credit card companies offer credit card comparisons. It is indeed a good practice to search for the credit cards using their services and decide on a credit card which offers the maximum savings. It is important to note here that balance transfer APRs depend on a person's credit history. If the credit card in question offers the lowest rates, it is definitely for those with the best credit ratings. There are different balance transfer apr's for people with lower credit ratings. So, it becomes imperative that one chooses the credit card which offers the lowest apr and balance transfer fees for his credit ratings.
When you decide for a balance transfer it doesn't mean that your obligation for payments towards your outstanding balances with the existing credit card company cease to exist. You will have to pay the credit card company all the monthly payments. One way you can save money is to just send the monthly minimum payments to the existing credit card company. This way you won't default and invite penalty.
The next step is to sign up with the credit card which you sought for transferring your balances, and fill up the balance transfer application.
When you receive a balance transfer offer from the new credit card company, it's time to verify the offer and call your old credit card company about the balance transfer. Get the statements of billing from the old credit card company and ensure that your outstanding balances are $0.
Blue Cash from American Express®
This credit card issued by the credit card giant American Express has No annual fee. Coming to balance transfers, the Blue Cash from American Express has a low balance transfer rate. The APR for balance transfer is 4.99% fixed for the life of balance. Another good feature of the Blue Cash from American Express is that it is a 0 Intro APR credit card. It has a 0% intro APR rate for 6 months. The reward program of Blue Cash from American Express gives Up to 5% Cash Back with Unlimited Cash Rewards. This entitles the credit card holder to earn an unlimited cash back on his spendings. get more about it
2007-09-27 00:09:38 · answer #4 · answered by alexa dion 3 · 1⤊ 0⤋
They will probably send the amount to the card. I would get on the phone and call them after a day or so and check to see what's been done. I have a Chase card and know that they are very friendly and helpful.
2007-09-26 11:55:32 · answer #5 · answered by Clarkbar 2 · 1⤊ 0⤋
well i work for chase credit card services, and if you need to get the funds back to your chase card you will need to do a few things you need to call chase and tell then that the transfer wasn't yours! this may involve a mgr. sometimes reps. may not want to do this for you. but if you say that the transfer was not yours and you never wanted it done..... you can dispute the transaction and it will be reversed...... as well as the transfer fee.... be patient it will take a few days maybe a week ....but again say it was not you transfer!!! good luck
2016-04-06 02:43:54 · answer #6 · answered by Anonymous · 0⤊ 0⤋
they will prob do it automatically.
2007-09-26 15:08:03 · answer #7 · answered by Anonymous · 1⤊ 0⤋