Kamakzie wrote:So if I got like say $14K I would also pay a 3% fee once I got the funds in my checking account he said to turn around and pay it back on the card and it would be at the 0% rate for 12 months.
Replying to bump this because I'm curious to see if anyone has any answers. Also, maybe it's just because I'm ignorant about balance transfers, but what exactly is meant by the stuff I quoted above? My understanding is that, when you do a balance transfer, you apply for a new card w/ a 0% dealy and get approved for a limit. Then you get a balance transfer check to pay off the old card, right? When I start to think about the concept of the bank giving you money to pay off your card and then that money goes on the same card, my head starts hurting.
tl;dr I'm confused (probably because I don't really know much a/b balance transfers), but also curious about how other people who know more might answer your question. So I am replying with a useless reply to bump your post.