Got approved for the new Ally Cashback Card (issued by TD bank) on June 29th, Transfered 2 balances one from Chase and the other from Citi. So far, I haven’t seen a credit on either of those cards. Turns out that they send those balances transfers out via paper check? Do other banks do this? I thought that banks sent electronic payments between each other, perhaps I am wrong? For the very expensive rate of 4% on a balance transfer, you would think they would do this right. Yes, I know thats high and I could have done better other places but for a reason I won’t be disclosing I couldn’t have it showing up on any statements from any of the credit card companies I currently use. Don’t worry I’m not hiding it from a spouse or any other person who could legally be responsible for my debt. Any event, they say that they were “requested” on July 8th which the rep told me that it means they were mailed out on that date after I asked. (I’m not sure I believe her).
I’m beginning to regret ever signing up for the card though, I’m not going to pay another balance transfer fee to get a better card.