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Making the most out of a 0% BT...

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#1 vivyip


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Posted 18 May 2005 - 11:55 PM

Right now, Bank of America credit cards have a 0% balance transfer promotion until october.

in their terms & conditions, they have the following:

"unless you are a Financial Rewards member, you will not earn Rewards credit, miles, points toward free travel or merchandise....[and] future payment will be applied to promotional balances prior to any existing or new regular balances on the account"

Financial Rewards members earn five points for each $2500 in balances transferred to their Bank of America Financial Rewards card per billing cycle. This applies only to balances transferred from non-Bank of America accounts.

Now, I know it's not much, but how does a person do the balance transfer thing when a person only has the one Financial Rewards card?

I was thinking of just taking out 2500 and depositing it into ING Direct for a month...

then I have no clue what to do...

Could a person who has done the balance transfer game give some tips, please?

Thank you for reading this. Advice will be appreciated.

#2 pangya88


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Posted 19 May 2005 - 07:08 AM

This balance transfer game works with CitiBank credit cards, but might not work with Bank of America cards. In any event, this is what you could do. Tell them you have to pay a lot of bills and see if they could send you a check to deposit in your bank. CitiBank treats this as a balance transfer; other banks, cash advance. Check with Bank of America.

Watch out for balance transfer fees, which will lower your rate of return.

#3 vivyip


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Posted 19 May 2005 - 12:04 PM

thank you for your help!!

#4 cmatthes1


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Posted 20 November 2005 - 02:29 PM

transfer it to a card and get a credit, then ask them to send you a check