Latest Balance Transfer Promos

John47 wrote: ↑ Received two offers in the mail today:

TD - 1.99% interest for 6m, no BT fee
CIBC - 0% interest for 10m, 2% BT fee

I have a big MBNA balance coming up for expiry in a few weeks, so this is convenient, but in reality it's not that convenient:
- from past experience, don't think I can BT from MBNA to TD given they're the same family
- I just did a CIBC BT for my entire available limit a few months ago, so I barely have any limit left.

terracotta92 wrote: ↑ MBNA to TD is possible, just not directly. use another bank's LOC to transfer the money.

John47 wrote: ↑ Right, but it's the opposite for me --- I would need to get the money from TD cc to MBNA cc. I didn't write it clearly in my post.

Don't think I can transfer money from TD cc to a bank account.

John47 wrote: ↑
Right, but it's the opposite for me --- I would need to get the money from TD cc to MBNA cc. I didn't write it clearly in my post.

Don't think I can transfer money from TD cc to a bank account.

embguy wrote: ↑ If you have another cc other than TD and MBNA, you can BT to that spare cc. Withdraw money from the spare cc and pay the cash advance fee.

TorontoEh wrote: ↑ Got a sweet offer on my new AeroPesso card... 10 months 0% and 2% BT. Not sure but maybe good to bite as my MBNA balance renews in August but this is only avail till Feb28 i think.

CIBC doesn't send me offers, I gotta call them everytime but their offers are good.

John47 wrote: ↑ What financial institution

John47 wrote: ↑ Received two offers in the mail today:

TD - 1.99% interest for 6m, no BT fee
CIBC - 0% interest for 10m, 2% BT fee

I have a big MBNA balance coming up for expiry in a few weeks, so this is convenient, but in reality it's not that convenient:
- from past experience, don't think I can BT from MBNA to TD given they're the same family
- I just did a CIBC BT for my entire available limit a few months ago, so I barely have any limit left.

• Once you take advantage of this offer, you will have a promotional rate balance on your account. As a result, you will lose your interest-free grace period on new purchases unless you pay your amount due, including any promotional rate balances, in full each month. While you will enjoy the promotional rate on the balances you transfer by using this offer, new purchases will be subject to the purchase interest rate.

ROYinTO wrote: ↑ I finally took up the BT offer online from CIBC today and now I'm a little concerned over a couple of things.

Posts have indicated to do a BT close to your statement end date, which for me is 8 business days away. By accepting the BT offer online I assumed the BT would be processed overnight like other payments done online. I was very surprised when the screen popped up saying Your balance transfer will be completed within 2 weeks. Two weeks should get me under the wire for the payment due date, but will likely arrive after the MBNA BT promo end date that I'm paying off - which is 1 business day away. It looks like I may have to pay a little interest if the BT takes longer than 1 day. I'll monitor MBNA to see when the payment comes through and if needed just do an additional Minimum $10 payment before its Payment Due Date.

I've read a number of times not to use the card once you have done a BT to it. That seems to come from this quote that is listed in the terms and conditions:


I've got a couple of small subscriptions that are automatically charged to the card. If I pay off the BT fee plus the subscriptions and minimum due on the BT every month by the due date, shouldn't that mean I am not going to be charged interest? Or should I switch those subscriptions over to a different card?

I'd appreciate hearing how this has worked for other people in the past.

happiy wrote: ↑ Any payments over the minimum balance will be apportioned based on the % of your balance in each category (fees, purchases, interest, BT, etc.). So, if your subscriptions will amount to, say, 3% of your total balance, then 3% of your payment above the minimum payment will go to pay down your subscriptions. There is no way to steer your payments to go 100% to pay off your subscriptions.