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questionforyouguys

Balance Transfer Taking a Long Time

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I applied for a credit card from PNC bank on 12/8 and at the time of application did 2 balance transfers and they were approved. I've since received the PNC card and the balance transfers have posted to the PNC account yet the payments haven't been received by the 2 creditors. I know the mail can be slow around the holidays so at what point/date do I need to have PNC cancel those checks?

Edited by questionforyouguys

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the same happened to me, i did a balance transfer from discover to capital one venture card and even though it's posted in cap one and taken out of discover, they have yet to let the available credit go. Really sucks, I have heard that it can take up to 2 weeks for it to post. Make your payment in the meantime.

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If the balance transfers from PNC have not showed up on the accounts you were paying off, I'd say there is a problem. Did PNC have the right account #s? Have you called to ask about the balance payoffs? Or have they showed the payments, but have a hold on available funds? Two different things...

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If the balance transfers from PNC have not showed up on the accounts you were paying off, I'd say there is a problem. Did PNC have the right account #s? Have you called to ask about the balance payoffs? Or have they showed the payments, but have a hold on available funds? Two different things...

 

PNC said the only issue could be if I supplied them with the incorrect mailing address at the time of application. The balance transfers and fees have already shown up on my PNC account as transactions.

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I'm getting kind of anxious about this and wondering if the checks are lost in the mail, but I don't want to jump the gun on this and be hit with some kind of fees for having to request a new balance transfer....how much longer should I wait?

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I'm shocked they would be generating a paper check for the BT's in this day and age. Every BT I've done in the past couple of years has been processed electronically -- the sending banks only asked for the account numbers and name on the accounts, never addresses or anything else.

 

If they were sent via paper check, they should be able to supply you with digital images of the checks once they've been paid. As others have mentioned, if you're close to your due dates, don't rely on the BT's and make your own payments.

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