Does a CC Balance Transfer Nullify Rewards/Miles Accruals for The Receiving CC?

CI on 19/09/2024 - 20:41
Last edited 20/09/2024 - 09:53 by 1 other user

Title probably doesn't make much sense - example below

CREDIT CARD 1 - Spend $10,000 in 90 days get 100,000 Miles
CREDIT CARD 2 - FREE BALANCE TRANSFER for 12 months, no processing fees

I use CC1 for $10k spend on items (furniture, some flights), so I hit my minimum spend. Now I owe $10k on CC1. If I use CC2 to pay off the $10k spent on CC1 (by using the BT offer), will I still get my 100,000 miles from CC1?

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  freefall101 on 19/09/2024 - 21:20

  +1

  What do the t&cs for cc1 say?

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    askbargain on 19/09/2024 - 22:03

    It doesn’t say 😮

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    CI on 20/09/2024 - 03:47

    It doesn’t say. I have searched the internet and nothing. Most posts are asking of BT gets you points and T&Cs clearly state they don’t. But that’s not my query.

    I called couple banks and customer service agent didn’t understand me.

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  hasher22 on 20/09/2024 - 06:15

  Correct me if I'm wrong but isn't a balance transfer…. Transferring the "debt" part only from CC2 to CC1?

  So if you have 4k debt in CC2, you transfer, CC1 will now have 14k in debt.

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    brendanm on 20/09/2024 - 07:21

    Wot

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  brendanm on 20/09/2024 - 07:23

  +3

  From memory CC1 wouldn't know that the payment made was done using balance transfer, it just appears as money going in. CC2 is the only one that would know it was a balance transfer, your points should be fine.

  That's probably why the customer service people don't understand, as they would have no idea where the funds came from.

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  Baysew on 20/09/2024 - 09:51

  +2

  The points accumulated is based on the spend not on the repayments.