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Established Contributor
Posts: 599
Registered: ‎01-31-2008
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BT Question

Does indicating that you wish to transfer a balance on an app have any impact on the app itself or a recon?

Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $6600, PayPal $2200
Established Contributor
Posts: 599
Registered: ‎01-31-2008
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Re: BT Question

Just curious if anyone had any input about this.  I imagine it makes no difference, but it sort of makes sense if it did.

Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $6600, PayPal $2200
Senior Contributor
Posts: 3,528
Registered: ‎01-19-2009
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Re: BT Question

it did when I app for a credit union card and they asked me questions, I was able to say I wanted to do a balance transfer to a lower intrest fee, and got my highest limit at the time 3k

Established Contributor
Posts: 599
Registered: ‎01-31-2008
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Re: BT Question

Was just wondering if there were any other thoughts on this... i'm trying to make a long term plan and want to understand all options!

Chase Freedom: $1500, Citi Diamond Preferred: $3000, Barclays: $3900, Chase Disney Visa: $1500, Chase Southwest Signature: $5000, Citi TY Preferred: $3000, Cap One Platinum: $1750, Cap One Platinum Rewards: $2500, Orchard Bank: $900, Kay Store Card: $6600, PayPal $2200
Frequent Contributor
Posts: 387
Registered: ‎06-15-2013
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Re: BT Question


EaglesFan2006 wrote:

Was just wondering if there were any other thoughts on this... i'm trying to make a long term plan and want to understand all options!


I don't think it does. They probably want you to BT because they can charge you 3-5% to do the transfer.

AMEX BCE: 5k; Barclay Apple: 2.5k; BoA CB: 3k; BoA BBR 4.2k; BoA Travel: 8k; Chase Sapphire: 5k; Chase Freedom: 6k; Citi Diamond: 3k; Discover IT: 9k

June 2013 FICOs: TU: 763; EX: 754; EQ: 764 (was 747 9/2012). Last app 2/20/2014 Garden until 3/2015
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Valued Contributor
Posts: 2,110
Registered: ‎12-29-2011
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Re: BT Question

Good question. Personally, I've never apped and requested a BT because I know that after the app is processed and approved, I can always call back and ask for a BT within 90 days from the card opening.

 

BTs have gotten me denied for cards I've wanted. I applied for a AMEX BCE maybe a month ago and it was denied because I had two recent balance transfers to my CAP1 card. They had been paid off. No negatives but I guess they didn't like that I balance transfered rather than just paying it off. I only did it because I needed more time to pay the balance and there was no transfer fee Smiley Happy

The truth is out there...
FICO scores: 764 (EQ) 732 (EX) 757 (TU) 9/14 | Goal score: 750+ (all 3)
Tradelines: Capital One QS NPSL (5.0k) | Discover IT (6.0k) | Walmart Mastercard (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)






Valued Contributor
Posts: 1,590
Registered: ‎08-30-2011
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Re: BT Question


EaglesFan2006 wrote:

Does indicating that you wish to transfer a balance on an app have any impact on the app itself or a recon?


I think you can SAY whatever you'd like when you apply for a card or call for a recon, and I don't think it really makes a difference.  I'm thinking that perhaps there's some statistical database that may be kept somewhere, but really, in the scheme of things, it doesn't matter.  Whenever I've actually called in for an app, such as with IberiaBank, they did ask why I wanted their Select card, and I told them for "future" balance transfer options.  Whenever I've actually called in for a CLI, such as with Chase and the Sapphire Preferred card, I simply said "for future travel considerations".  I've not been denied under any of these circumstances, and I've not taken advantage of the BT option with IberiaBank. 

EX = 834 EQ = 846 TU = 834 as of 09/2016
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Valued Contributor
Posts: 2,111
Registered: ‎07-29-2011
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Re: BT Question

Often, if a creditor was going to approve you for a lower limit, they will increase the limit to accomodate the amount of the balance transfer that you want to do.

EX:694 TU:744 EQ:777
Amex ED $19.5k - BoA Travel Rewards $15k - CSP $5k - SDFCU EMV $15k - NFCU goRewards $20k - Barclays Arrival $6.5k

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