$13k O% Balance Transfer from Capital One Credit Card
Well I bit again. Back in June I signed up for a 0% balance transfer from CitiCard for $26.5k, now I signed up for a $13k 0% balance transfer from Capital One.
Since I no longer have any major financing moves in my immediate future (no plans to buy another property), I went ahead and put my credit score back to work by applying for a new credit card, taking the 0% balance transfer offer, and moving the cash to my HSBC Internet Savings Account to earn 5.05% APY.
This time I used 2 different techniques to extract the balance transfer from the new credit card.
When I applied for the credit card I requested a $10k balance transfer to my Wachovia Ready Reserve (basically a line of credit acct) account. Then I transferred the money from my reserve account to my checking account, and finally to my savings account.
When I received the actual credit card, the mailing included a "purchase check" that could be used for balance transfers with no transaction fee. So I wrote the check to myself for the remaining credit, deposited the check into my checking account and then moved the cash to my savings account.
For future reference, I found it less hassle to transfer using the purchase check so I will opt for using the check in the future rather than transferring it to my line of credit account.