NO Balance Transfer feature - now what (alternative)?

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magician0
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NO Balance Transfer feature - now what (alternative)?

Postby magician0 » Wed Nov 11, 2015 4:24 am

Hi All,

I would like to transfer available spending amount on card from one card to second card. The second card would be either visa or mastercard. However my problem is that the source card, so the one FROM where funds should be transferred, doesn't have so called ''Balance Transfer'' feature. I did some research on that topic online about alternative solutions and I think some alternatives still exist. Either via phone call or web based application, perhaps even desktop based. Where you simply fund one card with another card. I am NOT really interested at all about prepaid cards because those ones have a way too low either spending limit or funding limit. I would like to know how to transfer funds from one card (e.g. american express) to another (e.g. visa or mastercard)? Any explanation how to do this, how to download such software or register for such web application or even where to call to, would be highly appreciated. I contacted credit cards department already but unfortunately all they told me is for their options to do such transfer, the feature Balance Transfer should exist. On my american express it doesn't.

Paypal is out of the question - too many bad experiences with it.
Skrill is out of the question too because it doesn't accept american express.

Would prefer to NOT use such ewallets but if i am really required to use it in order to do what i described, i will.

What to do? Appreciated.


Vermonster
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Re: NO Balance Transfer feature - now what (alternative)?

Postby Vermonster » Wed Nov 11, 2015 10:03 am

The way you wrote things is a little confusing, so I'm taking a guess at what you're trying to do.

If you are attempting to move the credit limit from one card(eg, amex) to another card(eg Visa), that is not possible. The credit limit of a card is a decision made by a specific bank, not just the network of the card. You could move limits between cards issued by the same bank. (ex, Chase Freedom and Chase Slate, or Citi Double Cash and Citi Simplicity). Though keep in mid that each bank has different rules about moving limits.

If you are talking about transferring a balance from one card to another then the only important part is that the new card offers balance transfer. Basically the new card will write a check to the bank of your old card for the balance of the card, essentially transferring the balance to the new card. As far as I know there is no way the old bank can deny a payment from a new company.

The only reason to transfer a balance would be if you are being charged a high interest rate and can't afford to pay it off. You talk about prepaid cards and paypal, but I'm not sure how that fits in. If you can give us more information about your cards and the problem you are having, we will be able to help better.
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Tubpbs
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Re: NO Balance Transfer feature - now what (alternative)?

Postby Tubpbs » Wed Nov 11, 2015 11:49 am

Vermonster wrote:The way you wrote things is a little confusing, so I'm taking a guess at what you're trying to do.

If you are attempting to move the credit limit from one card(eg, amex) to another card(eg Visa), that is not possible. The credit limit of a card is a decision made by a specific bank, not just the network of the card. You could move limits between cards issued by the same bank. (ex, Chase Freedom and Chase Slate, or Citi Double Cash and Citi Simplicity). Though keep in mid that each bank has different rules about moving limits.

If you are talking about transferring a balance from one card to another then the only important part is that the new card offers balance transfer. Basically the new card will write a check to the bank of your old card for the balance of the card, essentially transferring the balance to the new card. As far as I know there is no way the old bank can deny a payment from a new company.

The only reason to transfer a balance would be if you are being charged a high interest rate and can't afford to pay it off. You talk about prepaid cards and paypal, but I'm not sure how that fits in. If you can give us more information about your cards and the problem you are having, we will be able to help better.



I would say this is a pretty complete and concise answer given the information presented.

We would need significantly more information and clearer information to help any further. Thanks.
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magician0
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Re: NO Balance Transfer feature - now what (alternative)?

Postby magician0 » Wed Nov 11, 2015 12:31 pm

Vermonster: I meant transferring a balance from one card to another regardless of type of those cards and also regardless which bank in which country on which continent issued the card. What do you mean with term "new card"? Is this card TO where the balance should be transferred (destination card) or the card FROM where the balance should be transferred (source card)? So what card is ''new card'' that has to offer, as you said, the balance transfer?

Obvious second question would be: what if the card on the other side (the opposite card of the answer according to above sentence) doesn't have balance transfer feature?

Vemonster could you also tell me how to do such transfer from one to another card? Is there any possibility to do that online via either some web or desktop application (platform)? There should be another, much quicker way. When i was doing my research on this, requesting that via phone call could take 7 business days. Usually card transfers are instant. Also hopefully what I just wrote won't confuse you - my primary question is still about method how and where to transfer from one to another card and not how to speed up procedure. I didn't talk about paypal, just said that solution I am looking for must NOT be paypal related one because there are too many problems using paypal.

Tubpbs: Thank you for reply, Whatever other info you need, ask and I will help you.

Vermonster
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Re: NO Balance Transfer feature - now what (alternative)?

Postby Vermonster » Wed Nov 11, 2015 7:47 pm

magician0 wrote:Thank you for reply, Whatever other info you need, ask and I will help you.


This would be a lot easier if you told us exactly what card you have, and what it's balance is, and what card you intend to move it to. We can't really answer your question until then as each card is different, and each bank is different.

There is no app, or program, or website for this sort of thing. You have to deal directly with the banks, in particular, the bank issuing the card that you intend to move the balance to. If you have an online banking you might be able to do a lot of it online, but again each bank and card is different. Yes, it can take up to 7 days for everything to complete. Generally it will be faster, but they can't say that.
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magician0
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Re: NO Balance Transfer feature - now what (alternative)?

Postby magician0 » Thu Nov 12, 2015 4:26 am

Vermonster you are saying I need to contact the bank that issued the card TO where i want to move the balance? Impossible, due to 5 reasons:

1. I don't speak their native language, they don't speak English.
2. In different situation of same problem I contacted bank and they told me I need to contact the bank that issued the card FROM where i want to transfer.
3. Most likely all they can do is to check if Balance Transfer feature exist. If not, they won't be willing to help. If yes, they will be willing to do the transfer on my request but they will want me to wait for like 7 business days for transfer to be completed. Cards transactions are usually instant.
4. My card doesn't have balance transfer feature.
5. If the card doesn't have balance transfer then there is no way to enable this feature.

Summary: I need alternative to feature Balance Transfer which will let me do what I described.

My source card is American Express issued in USA. My destination card is Mastercard.

takeshi
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Re: NO Balance Transfer feature - now what (alternative)?

Postby takeshi » Fri Nov 13, 2015 8:08 am

Your choice of words is confusing the matter so let's at least get you on the same page as everyone else in order to assist.

magician0 wrote:NO Balance Transfer feature - now what (alternative)?

magician0 wrote:I would like to transfer available spending amount on card from one card to second card.

Transferring available spending is what is generally referred to as reallocating and it is not the same thing as a balance transfer (even though transferring a balance does change available credit on both cards involved). If you're referring to a balance transfer then stick with the term "balance transfer" or you will confuse people. Reallocating can only be done with cards that are all from the same creditor. Balance transfers can only be done with cards with different creditors.

magician0 wrote:The second card would be either visa or mastercard. However my problem is that the source card, so the one FROM where funds should be transferred, doesn't have so called ''Balance Transfer'' feature.

It also sounds like you might be mixing up "to" and "from". With a balance transfer these words are in relation to the balance. If you start with card A with a balance of $100 and card B with a balance of $0 and end up with $0 for card A and $100 for card B then you transferred the balance from card A to card B.

The card you're transferring to has to offer balance transfer. You make the request with the creditor that issues the card. They issue a payment to the card you're transferring from and that's how the balance is transferred. You may need to call to initiate a balance transfer in some cases.

magician0 wrote:I did some research on that topic online about alternative solutions and I think some alternatives still exist. Either via phone call or web based application, perhaps even desktop based. Where you simply fund one card with another card. I am NOT really interested at all about prepaid cards because those ones have a way too low either spending limit or funding limit. I would like to know how to transfer funds from one card (e.g. american express) to another (e.g. visa or mastercard)? Any explanation how to do this, how to download such software or register for such web application or even where to call to, would be highly appreciated. I contacted credit cards department already but unfortunately all they told me is for their options to do such transfer, the feature Balance Transfer should exist. On my american express it doesn't.

There are no magic solutions. A third card, web app, desktop app, phone call, etc will not summon a BT out of thin air. There has to be a method of paying the source account and debiting the target account. Generally the target card has to offer balance transfer. A convenience check can work as an alternative but carefully review the terms if such checks are available as they can be treated as cash advances. Any other solution is going to have to be one that can charge the target and credit the source and I'm not aware of any off the top of my head. If your research indicates that options do exist then look into those options.

magician0 wrote:Paypal is out of the question - too many bad experiences with it.
Skrill is out of the question too because it doesn't accept american express.

Would prefer to NOT use such ewallets but if i am really required to use it in order to do what i described, i will.

These aren't relevant to balance transfers. You can get funds out of a credit card and to a merchant or another person but you can get funds into a credit card account.

magician0 wrote:I don't speak their native language, they don't speak English.

You'll want to find some way around that. There's always a chance that you'll need to contact the creditor and not just for balance transfers but the usual customer service stuff.

magician0 wrote:In different situation of same problem I contacted bank and they told me I need to contact the bank that issued the card FROM where i want to transfer.

There are mistaken and/or there was a language issue which wouldn't surprise me as there's a language issue in this thread in English. Again, you need to be able to communicate effectively with your creditors.

magician0 wrote:If not, they won't be willing to help. If yes, they will be willing to do the transfer on my request but they will want me to wait for like 7 business days for transfer to be completed. Cards transactions are usually instant.

Purchases and BT's are entirely different things. You cannot use a purchase as an indicator of how long a BT should take. BT's do take time and it can take weeks for BT's to process.

Vermonster
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Re: NO Balance Transfer feature - now what (alternative)?

Postby Vermonster » Fri Nov 13, 2015 12:28 pm

magician0 wrote:Vermonster you are saying I need to contact the bank that issued the card TO where i want to move the balance? Impossible, due to 5 reasons:

1. I don't speak their native language, they don't speak English.
2. In different situation of same problem I contacted bank and they told me I need to contact the bank that issued the card FROM where i want to transfer.
3. Most likely all they can do is to check if Balance Transfer feature exist. If not, they won't be willing to help. If yes, they will be willing to do the transfer on my request but they will want me to wait for like 7 business days for transfer to be completed. Cards transactions are usually instant.
4. My card doesn't have balance transfer feature.
5. If the card doesn't have balance transfer then there is no way to enable this feature.

Summary: I need alternative to feature Balance Transfer which will let me do what I described.

My source card is American Express issued in USA. My destination card is Mastercard.


Ok this helps a bit more. But what Mastercard is it? Mastercard is just a network, they are not the bank behind issuing the card. And what country are they located in?

(A little off topic but why do you have a card issued by a bank that you can't speak the language?)

What I'm thinking is that there is no way to make this work in the current arrangement. If the card you would like to move the balance to doesn't offer BTs then you are out of luck. Perhaps if you told us why you needed to move it to this specific card we could offer suggestions. Are you looking for 0% interest, or are you just trying to free up some spending ability on the Amex?

I think your only real option is to apply for a new card (preferably one we suggest so we know it will work), and transfer the balance to it.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

magician0
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Re: NO Balance Transfer feature - now what (alternative)?

Postby magician0 » Fri Nov 13, 2015 5:10 pm

Vermonster wrote:(A little off topic but why do you have a card issued by a bank that you can't speak the language?)


Some of my cards are from local banks in ''home'' country. Other ones are from offshore accounts, mainly in tax heaven countries to avoid taxes.

You asked me why do I have to move to specific card. This is because I would like to do few purchases online and merchants don't accept american express. Thats why. They accept just visa/mastercard.

Furthermore you suggested to apply for new card. Do you know any good, trustworthy individual person seller selling those cards with as high as possible purchasing limit and as high as possible loading limit? Trying to get them for free from banks might be waste of time because they will require either bank account ownership with them or home/rented real estate in their country. However I don't have a problem with scans of documents or photos. I can either scan my document to identify myself or hold a document on hands (very common requirement) and use a camera. I have camera with me and could do that just fine, I found very few such cards providers - their price is acceptable but there are two problems: they require upfront payment which could be a scam or/and they provide cards with a way too low spending (purchasing) and/or loading limit.

The main problem why I am in such situation is, as previously said, that merchants don't accept AE card.

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Re: NO Balance Transfer feature - now what (alternative)?

Postby Battery111 » Sun Nov 22, 2015 8:04 pm

This is absurd, so I'm just gonna try to cut to the chase. Let's say I have two credit cards and a $10 charge.

A) a Chase Freedom
And
B) an American Express Blue Cash card

I make a purchase on Card A for $10. I want to transfer the balance of $10 to card B. I initiate a balance transfer with Card B, which in this theoretical example is American Express, but it really doesn't matter. All that matters is that card B, the card I wish to now owe said $10 to, will allow me to initiate a balance transfer. Whether or not card A has a "balance transfer feature" is completely unimportant. Essentially card B is paying my bill with card A. There isn't some elaborate back and forth between card A and card B. Card B is just writing a check to card A.

It really doesn't get any simpler than that. The $10 you charged on card A is payed off by card B. You now owe $10 to card B, plus whatever fees and interest they charge you for the privilege. Card A doesn't even need to know its a balance transfer, that piece of information means nothing to them. They just get a check for $10, and are content that the debt is settled.
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