BT a charge card

[Anonymous]

Im curious if I charged 50k on a amex platinum charge card, can i balance transfer that out to revolvers and take advantage of the intro 0% APR for 15 month offers that i have? Thanks in advanced. 

[ibmrad7]

I am sure you can BT but it has to process pretty quick before your charge card statement cuts. BUT charging 50K on Platinum? Do you have a revolver with 50K CL?

[UncleB]

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@ibmrad7 wrote:

I am sure you can BT but it has to process pretty quick before your charge card statement cuts. BUT charging 50K on Platinum? Do you have a revolver with 50K CL?

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+1

In theory this would work, but if you plan on using more than one revolver you'll end up with a lot of 'moving parts' and the chances of something going wrong increases greatly.

I would personally only do this if I had the resources (i.e. liquid cash) to take care of the Platinum bill should any delays in come up with the balance transfer(s).

[Anonymous]

yeah, the 50k charge would be for a business expense. And i currently have two chase ink cards with 50k limits each, as well as a citibusiness thank you card with a 54k limit. I have seen free balance transfer offers from time to time, so i wanted to know if i could do it. So theoretically, the biggest problem would be for the balance transfer to go through before the new statement cuts right? So i should probably do it at the beginning of a new cycle? 

[Anonymous]

worst case scenario would be just paying off the platinum right?

[ibmrad7]

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@Anonymous wrote:

worst case scenario would be just paying off the platinum right?

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Exactly. Take a shot right around your statement cut date.

[jamesdwi]

read up on the dangers of mixing bussiness and personal credit, if the platinum is a personal card, not the bussiness version. Haven't done all the research but most of the bussiness people say its bad to mix bussiness expenses on personal cards. 

[takeshi74]

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@Anonymous wrote:

Im curious if I charged 50k on a amex platinum charge card, can i balance transfer that out to revolvers and take advantage of the intro 0% APR for 15 month offers that i have?

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As stated above, sure but time to process BT's can vary and can take weeks in some cases so you might be in trouble if the credit doesn't post in time.

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@Anonymous wrote:

And i currently have two chase ink cards with 50k limits each, as well as a citibusiness thank you card with a 54k limit.

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Additionally you need to consider revolving utilization even on cards with 0% offers.  0% offers are not indicated on your reports (see for yourself) so creditors cannot consider that you have maxed a card or you're leaving it with high revolving utilization because of the 0% offer.

$50,000 / $50,000 is 100%

$50,000 / $54,000 is 93%

Both would be considered maxed.  Keep in mind that the general suggestion is do not exceed 30%.  Short term high utilization is generally not an issue but prologned high utilization can lead to AA -- leaving a card maxed even more so.

[Anonymous]

but business cards such as the ink and the citibusiness thank you do not show on your personal credit report right? Arent they hidden tradelines?