Reply
Regular Contributor
anderl
Posts: 243
Registered: ‎06-08-2009

Balance Transfers w/ Chase

OK-so I recently received a Chase World MC and Visa Signature CC-I've found out through this forum that most World and Signature CC's do not report the CL but the balance owed w/no CL at first and from then on your highest ever paid balance-I am at 29% on my utilities(58K in Total CL's w/16.8k in Total Balances) and am in the "getting my utilities under 10% in 6mnths" mode-my thought was to Balance transfer say 4k to my Chase MC(CL=5K,Balance = $400)-let the balance report-pay 2.5k this month a little before the due date-1k the next mnth-and the rest the third mnth-how would this work exactly?-After the first 2.5k payment ,would the info reported to the CB'S read that my CL=2.5k and Balance=1.5k for the first mnth-CL=3.5k and Balance=$500 the second mnth-and CL=4k w/ Balance=0 the third mnth w/4k CL being reported thereafter as my CL?  I've also read on these forums that Chase doesn't really care for BT's and that in the past they reduced CL'S when a Balance Transfer was made- Also are BT's in general frowned upon-like I said the only reason why I want to make a BT to my Chase MC is so I can have a CL=4k factored into my Credit Reports(and it also lower APR@13.24%- I also received a Platinum Visa (CL=15k)from Addison w/I believe no fee and 3.99% for the first 12mnths on a BT since I'm a new Platinum Cardholder - I want to put 4k on this card just to put some activity on the card and to take advantage of the offer and uave it paid in 6mnths-Any info/input/advice is greatly appreciated-Thanks:smileywink:

Amex Platinum Charge(NPSL); Starwood Amex Preferred CC(20K CL); Delta Amex Reserve CC(21K CL); Amex PRG Charge(NPSL); Amex Zync(NPSL); United Presidential Plus Chase World Elite MC (15K CL); AARP Chase Visa Signature(35K CL); NFCU Visa Platinum(20K CL) NFCU LOC(15K); NFCU Go Rewards MC(10K); Disover IT 7.8K;
First Tech Federal Visa Platinum(15K CL); Simmons First Visa Platinum(9K CL); Wells Fargo Visa Platinum(7.5K CL); CitiBank Sears MC(6K CL); JCPenney Card(6K CL); Lowes(2.5K CL).

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+