BT: Amount Granted Vs. Amount Requested.

[XxRaVeNxX1]

Tried to google and search the forums for the answer...couldn't find it...


First time doing a balance transfer, and it seems the amount granted is less than the amount requested?  Less than half was granted....with a spare 5K in the remaining credit limit.


Why? Seems pointless....

[Anonymous]

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@XxRaVeNxX1 wrote:

Tried to google and search the forums for the answer...couldn't find it...


First time doing a balance transfer, and it seems the amount granted is less than the amount requested?  Less than half was granted....with a spare 5K in the remaining credit limit.


Why? Seems pointless....

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Need more info.  What were the details of the BT, cards involved and dollar amount.

Still unusual for a BT to be cut in half

[XxRaVeNxX1]

	Date Requested	Estimated Posting Date	Payee Account Number	Amount Requested	Amount Granted	Status	Action
	04/06/2016	04/17/2016	NAVY FEDERAL CU	$4,788.23	$1,960.00	Pending

That's all I know...

EDIT: Transfer from NFCU to Chase Slate

[Anonymous]

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@XxRaVeNxX1 wrote:

	Date Requested	Estimated Posting Date	Payee Account Number	Amount Requested	Amount Granted	Status	Action
	04/06/2016	04/17/2016	NAVY FEDERAL CU	$4,788.23	$1,960.00	Pending

That's all I know...

EDIT: Transfer from NFCU to Chase Slate

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Strange, I would either call Chase or send them a secured message and find out why

[Anonymous]

I'm not sure which is one with the existing balance and where you wanted it to end up. Is the account where you wanted it to end up new? Or have you had that card and you know that you have the CL available for that transfer? I'll stay tuned, I've never heard of this if it's the later. 

If it's a new card and you requested that BT via the process of applying, it's understandable that they only granted you a certain amount that was lower than you wanted. That's absolutely happened to me. 

[Anonymous]

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@Anonymous wrote:

I'm not sure which is one with the existing balance and where you wanted it to end up. Is the account where you wanted it to end up new? Or have you had that card and you know that you have the CL available for that transfer? I'll stay tuned, I've never heard of this if it's the later. 

If it's a new card and you requested that BT via the process of applying, it's understandable that they only granted you a certain amount that was lower than you wanted. That's absolutely happened to me. 

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+1

The only thing that makes prefect sense is the OP 'requested' X amount but was only approved for Y amount....

I see how the way BT are marketed, at times...why a person applying would assume 'if' approved they'd get a large enough

approval to handle the amount requested...

IMO it kinda stinks the way banks advertise a BT when it should 'transfer as much as WE approve you for' but they make it SEEM more

like a consolidation loan where either you're approved for the loan amount or not....

These BT credit card offers are really just CC offers with the 'hope' the CL will be big enough to transfer an old balance onto a new card

but if you say it that...it's less SEXY and they'd get fewer apps, b/c ppl would better understand it means IF approved for a big enough CL

 to handle your desired need.

But truth be told just b/c a person has Z amount of outstanding debt doesn't mean a new lender is gonna approve them for a much higher debt level

and this is way sometimes the BT app is a sucker bet.....b/c if you take a HP, get approved for a limit that's too low...what happens?

Do you not take the card, do you take the card that didn't clear your debt and create 'more' debt or yet another card, makes no sense the split the amount and have 2 payments (unless it's 0% I guess)....can turn out poorly

[Runitup]

In my experience, Chase is famous for this. I have transfered multiple times with them and each time they have put a maximum limit on the amount of total transfers. A couple of years ago I had a 17k limit but they explicitly stated the max transfer is 10k. Limiting exposure I guess.

[XxRaVeNxX1]

Called Chase, the CSR rep stated she wasn't sure and just canceled and resubmitted it. This time the full amount went through.

So, the more I look at it, the original amount that was approved, was my original limit when I applied for the card.

I closed another Chase Card and combined limits when I applied for the card and did a transfer the same day...yet that new limit probably needed a day or so to catch up...if that makes sense..

[UncleB]

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@XxRaVeNxX1 wrote:

Called Chase, the CSR rep stated she wasn't sure and just canceled and resubmitted it. This time the full amount went through.

So, the more I look at it, the original amount that was approved, was my original limit when I applied for the card.

I closed another Chase Card and combined limits when I applied for the card and did a transfer the same day...yet that new limit probably needed a day or so to catch up...if that makes sense..

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I think you just answered your own question. 

[deltatee]

I have never had that problem with Chase, which is good because I use my Amazon Visa for BTs and if it was stuck at the amount of my initial CL I would only be able to BT $300, lol.  I bet it was just some glitch in their system.