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Hi all! My first post..

I have a Citi American Airlines Card that I use for everything and pay off every month. I had new windows installed in my condo and put the whole $10K on the card, intending to transfer funds from my home equity line of credit to pay off the card. At the same time, interest rates dropped so I refinanced the condo, which eliminated my HELOC.

I got an offer from Chase for a 0% BT for 12 months, which is cheaper money than any HELOC. If I transfer the $10K to Chase will I still get miles from Citi?

Thanks,
YLM

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If I transfer the $10K to Chase will I still get miles from Citi?

Yes.

Balance transfer is akin to a regular payment in all respects. The only difference is that it is a third party payment. This means that, instead of you, someone else is paying off your card.

Typically, you forfeit your points only when you pay late/don't pay your credit card. Also, you will forfeit your points if you decide to...errr... return your new windows: the number of your earned points for a given time period is equal to the amount of your purchases minus the amount of your returns/credits.

2195501y


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'the number of your earned points for a given time period is equal to the amount of your purchases minus the amount of your returns/credits.'


That was my question, does it show up as a return type credit or a payment type credit? 10,000 miles is a lot to lose, and I wanted to know if there was a better way of doing it.

My other options are another HELOC or a 1.7% cash advance from MBNA that expires in April. MBNA would deposit it in my checking account and I could pay Citi, but I couldn't pay it off by April, which would mean anither BT or loan. Both Chase and MBNA are insisting on a BT fees, and you lose your advantage by racking up the fees, but saving 10K miles is worth an extra $45.

Caution **MBNA rant**

I was glad to see that most of the Chase customers are pleased with the CS. I plan to replace my 18 year old MBNA card with the Chase, as they wouldn't consider extending the 1.7% beyond April, despite the fact that I got 2 offers this past week for 1.7 until July from them for other branded cards. They said I could open up new accounts to get the rate until July, but they couldn't offer it on my old card. My old card has no outstanding balance and a $39,000 credit limit. Who the heck needs that much on a credit card? I suppose things would be different if they made more money on me. Responsible use of credit does not mean good CC customer apparently.

Thanks,
YLM
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Too many bouncing balls .. but if I've followed them correctly, you've already made the purchase, and are casting about for a way to avoid paying interest on it. My experience with the Aadvantage card is that the purchase earns miles, and they don't care about the balance afterwards. I pay my balance in full every month (a good discipline to follow, I highly recommend it) and therefore don't have to pay any interest, and still earn miles.

- David
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That was my question, does it show up as a return type credit or a payment type credit?

It shows as a regular payment, not as credit.

Your statement afetr the transfer will say something like:

'PAYMENT - $XXXX.YY - Thank you'.

2195501y

By the way, there is no such thing as 'payment type of credit'. You see, merchants pay a fee to credit card company: 2-3% of purchase amount. When you return something, I suspect that credit card company has to refund the merchant this fee (and to credit your account). Thus the term 'credit'. When you pay your credit card bill, there's no fee involved. The credit card company simply takes the money (and credits your account). Thus the term 'payment'.
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