So I have a question.. If you do a balance transfer on a newly aquired card THAT HAS NOT YET appeared on your credit report, when it does appear for the first time, will the balance transfer amount also be reported?
$30,500
$18,500
NPSL
$15,000
$10,000
$25,000
$32,000
@daybreakgonesXe wrote:That depends...if the balance transfer is approved and moved onto the card by the time the card reports (say, after the first statement posts), then yes, it will be reported
Also depends on who the creditor is, a large BT and trigger a mid-cycle report sometimes.
@LS2982 wrote:
@daybreakgonesXe wrote:That depends...if the balance transfer is approved and moved onto the card by the time the card reports (say, after the first statement posts), then yes, it will be reported
Also depends on who the creditor is, a large BT and trigger a mid-cycle report sometimes.
ahhh... it's chase.. the accout docs they sent me says my next payment date is 4/4/2013 and I want to move over 2k from a card that reports to the credit agencies on 3/3/2013.. This will make my credit profile look like I paid down 2k in debt UNTIL that 2k appears on my chase card..
@RSCo wrote:
@LS2982 wrote:
@daybreakgonesXe wrote:That depends...if the balance transfer is approved and moved onto the card by the time the card reports (say, after the first statement posts), then yes, it will be reported
Also depends on who the creditor is, a large BT and trigger a mid-cycle report sometimes.
ahhh... it's chase.. the accout docs they sent me says my next payment date is 4/4/2013 and I want to move over 2k from a card that reports to the credit agencies on 3/3/2013.. This will make my credit profile look like I paid down 2k in debt UNTIL that 2k appears on my chase card..
I wouldn't get wrapped up in the BT game too much, I would focus more on trying to clear the debt slowly. Also most of time your paying in some form to do a BT usually in the form of a flat fee.