Consumers often use credit card balance transfers as a way to take advantage of a much lower interest rate.
Please contact us at 1-80 or stop into your local branch to process this request.A balance transfer means moving all or part of the debt from one or more credit cards to another credit card. If the check can’t be located by the other financial, you could request to do a Stop Pay with TruStone Financial. Stop Pays on a cashier’s check can be done after 90 days. At that time, if the check isn’t cashed by the other financial, the funds will be applied back to your account. Cashier’s checks expire 6 months from issuance date. If it hasn’t been received after 6 weeks, you will want to contact that other financial to inquire about your payment. It can typically take up to 6 weeks for the other financial to receive the check and process the payment. What should I do if the check is never received by that other financial? At that time, you can work with that financial to complete the transaction. The check will be applied back to your VISA credit card balance as of the date it is received. You will be sent the letter from the other financial stating why the check couldn’t be processed. What happens if the check is returned from the other financial? You will receive an email notification stating why the VISA balance transfer wasn’t processed. How will I know if my request wasn’t able to be processed? TruStone is not responsible for any remaining balance on an account or for any finance or other charges that you may incur due to a delay in transferring a balance. Please continue to make your required minimum payment due each month until the transfer is complete. What happens if I incur a fee or finance charges while I wait for TruStone to process my VISA balance transfer request? You will need to contact each company directly if you want to close out that credit card account. No, transferring a balance will not automatically close your other credit card accounts. Will a balance transfer close out my other credit card(s)? Yes, please continue to pay at least the minimum amount due on each account you want to transfer until the payment/balance transfer appears on that account’s billing statement. Once I submit my VISA balance transfer request online, will I need to make my payment on the card I am requesting to transfer? No, VISA balance transfers do not earn CU Rewards points. 
Will I earn CU Rewards points when doing a VISA balance transfer? Checks will not be sent to you for mailing or another individual. Checks are sent standard mail and are not sent overnight. VISA balance transfers are sent as checks and they are sent directly to the financial or credit card company.
How does the other financial/credit card company receive the funds?
You will need a copy of your Government or State ID as well as your most recent statement for each credit card that you want to transfer a balance for.Īllow 4 to 6 weeks for processing and for the other financial to receive the check and process the request on their end. What will I need to complete this form online? Authorized signers and co-signers cannot request a balance transfer. Only primary cardholders and co-borrowers on the credit card loan can request a balance transfer. Who on my TruStone account can request a VISA balance transfer? This can cause a higher than normal minimum payment due on the statement following the transfer, as interest will put the your credit card loan over the credit limit.
BALANCE TRANSFER CREDIT CARDS FULL
Yes, but keep in mind that if the full balance is advanced, it will start accruing interest on day one. Interest will start to accrue from the date the check is issued.Ĭan I use the full amount available on my TruStone credit card for a VISA balance transfer? VISA balance transfers are considered a cash advance from your credit card loan. When does a VISA balance transfer start accruing interest?
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