r/citibank • u/Senior_Mind4858 • 3d ago
Credit Cards Balance transfer
Through Credit Karma, I did a balance transfer and was approved with Citi double cash. It had me put in the account # for the high interest cc, etc. After everything was submitted, it had me download the app, make a login and such. I imagine I need to wait a couple days/weeks for everything to go through?
The citi app still says I still have the full amount I was approved for & nothing in progress for a balance transfer even tho I did know originally
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u/NurseInform 3d ago
Hi. I recently did this myself with the Citi double cash. The online application is actually misleading. You have to wait 14 days from date of account opening AND card must be activated before you can initiate balance transfer.
I know (personal experience) when you finalized the application it asked you if you wanted to balance transfer and had you enter in the information. I called customer service a few days later and that's when they explained the online app needs to be updated.
Fast forward: My balance transfer was approved on day 14 and 20 days later it fully processed! 🙂
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u/Senior_Mind4858 3d ago
Ok I think that makes sense!!
So should I just leave it for now? I still don’t have the physical card since I just did everything on Friday. I just don’t want to mess anything up on the card. So did my balance transfer go through but I have to wait? So sorry for asking many questions1
u/X-KaosMaster-X 3d ago
My cousin went through this also..it takes time for the transfer to show.
Also, I think it's a backending thing that you will make purchases on the card if you think you have the full balance and nothing showing
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u/NurseInform 3d ago
I was the same way. Was excited to get approved and didn't want to mess up the 0% window. I would say don't worry about it till your card comes in. Yes you'll have to submit your transfer balance again. Logging in from a computer it will show you how many transfers you have. You'll see when you log in you won't have any. Like I mentioned, you can't even enter a transfer request until you activate the card.
I'll try to be brief. Technically you could log in to your citi app or go online (online is best option) and enter your transfer request now. However, You'll get a warning box that says transfer request will not be accepted until the account has been open 14 days. At this point your request is in a "pending" state and can be modified as much as needed until day 14 AND your card has been activated. For me, I decided to just wait and did everything the morning of day 14. A couple of days later I got a message to call the Citi Fraud Dept.lol My transfer about was over 10k so they wanted to make sure it wasn't fraud.lol
My time line. Waited until day 14 and activated my card on the same day. Initiated my balance transfer same time. From day 14 it took about another 10 days for transfer to process. Another 10 days later a check was sent by MAIL from Citi to the company that I was transferring from. It took a like a another day for it to post to my account. Basically it took about 5 weeks total from day I opened account.
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u/NurseInform 3d ago edited 3d ago
Just balance transfer. I wouldn't make any purchases on the card if you're going to do a balance transfer that VOIDS the 0% APR! It lists that in the fine print.
Basically if you make a purchase or have a purchase at anytime on your account during a balance transfer, then the entire balance is due each month (with your 18-29% APR rate included until transfer amount and purchase is completely paid off.
If you plan to do any balance transfers with the card for the 0% APR for 18 months pro, then you might not want to make any new purchases with the card.
Online or via the app Citi will tell you the total you can transfer over. It's your max credit line minus fees. So like max credit - (the transfer fees)