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Balance Transfer

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Anonymous
Not applicable

Balance Transfer

Anyone have any sugestions on a card with a good transfer opportunity?

Im looking to completly take my balances off my two Cap One cards which both have an APR right now of 20.00. 

 

AEO Visa-2500

TJX-600

Nordstroms-500

Target-500

Discover-500

Amex Gold- No Limit

Amex Everyday-1000

Cap One Quicksilver Visa- 1750

Quicksilver MC-2000

 

Utilization:40%

 

Fico:641  Transunion: 643   Equiax:653

Message 1 of 6
5 REPLIES 5
Anonymous
Not applicable

Re: Balance Transfer

At your current scores and utilization percentage you're going to have a tough time getting an approval with a high enough limit to do it.

Message 2 of 6
Anonymous
Not applicable

Re: Balance Transfer

I see this thread is a month old, but it stops me from making a new one. Can someone explain how this balance transferring works? Because I certainly want to rid myself of the two First Premier cards. 

Message 3 of 6
Mantis350
Regular Contributor

Re: Balance Transfer


@Anonymous wrote:

I see this thread is a month old, but it stops me from making a new one. Can someone explain how this balance transferring works? Because I certainly want to rid myself of the two First Premier cards. 


I'm sure there are many threads on here regarding the benefits of BTs.  In short, you "transfer" your "balance" from a high interest card (or one that is close to being maxed) onto a card that has an introductory offer of say 12,15 or 18 months no interest.  The company/bank of the CC that the balance is going onto will send a wire or check to the CC that is being paid off and it will just look like a payment to them.  Usually in order to quality for these cards and intro rates, one must have a fairly decent credit profile with little to no baddies.

PenFed Rewards Visa Sig-$14,000 | BofA Plat Visa-$12,500 | Discover IT-$11,000 | NASA-$7,500 | WF Cash Rewards Visa-$6,800 | BofA Cash Rewards Visa Sig-$6,500 | Barclay Rewards MC-$6,000 | Cap1 QS Visa Sig-$5,750 | Citi DC-$5,500 | Cap1 Venture 1-$4,500 | Cap1 QS-$3,400 | Chase Freedom-$3,400 | AMEX BCE-$2,000 | Lowes-$15,000 | Home Depot-$5,000
|Current Score(2/19/2016)|| 709 EQ || 734 TU || 729 EXP ||
Message 4 of 6
Anonymous
Not applicable

Re: Balance Transfer

Well that sounds like a balance transfer is in my near future. Just need to find the card that will do it. 

Message 5 of 6
Chris679
Established Contributor

Re: Balance Transfer

And there's the rub...
Message 6 of 6
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