Anyone know of a miles card that will give you the credit for balance trasfers

[Shelly]

I would like to transfer a useless credit card I have and want to get something for transfering the balance, any cards do this.??

 

[GoldenOldie]

You won't find any that will. When you purchase something, the credit card company (MC, Visa, Discover, AmEx, etc) gets a percentage of the sale from the merchant's end usually in the 3-5% range. So even if you pay off your balance in full every month, they are still making money on your account.

A balance transfer is different. They get nothing on it. Plus if they did offer you the mileage or cash back perks on a transfer, there is nothing to stop you from transferring the balance in and out of the account every month to get the perk over and over. The card company accepts your balance from the other card/bank/account in the hopes that you will pay it off over time and thus pay monthly interest charges. But they will not give you any perks on it.

In fact, the fine print in the card applications specifically exempts cash advances and balance transfers from figuring in any perks.

My advice to you is don't worry about what you get on a balance transfer. Worry more about what perk(s) the new card will give that you can use over time and what the yearly cost (annual fee/interest rate/etc) of those perks will be.

 

[larfamily]

I recently transferred by balance to Miles One Select from Capital One. You earn one mile for each dollar in purchases, and they give you one bonus mile per dollar transferred (up to 5,000). The rate is pretty good too. I think it's 0.9% for 6 months then 8.9%. They also have no blackout travel dates and you can use any airline. It does have an annual fee of $19 though.

 

[Shelly]

thanks larfamily. Do you happen to have a number for them?

 

[larfamily]

Their website is www.capitalone.com and the phone number is
1-800-867-0904.

 

[ChiTownZee]

I'm waiting for the WDW visa!!