Reply
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Balance Transfers

Thankfully I have no balances to transfer but if I did would the CCC who was getting balances transferred from them be less inclined to give you more credit in the future?
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: Balance Transfers

Not that it has ever affected me. I do about 5-10 BTs a year and get CLIs after all debt is PIF. Never had a problem.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: Balance Transfers



ilovepizza wrote:
Not that it has ever affected me. I do about 5-10 BTs a year and get CLIs after all debt is PIF. Never had a problem.


Maybe I wasn't clear. Say you have a balance on a Citi card and want to transfer that to a new Chase card. Would Citi be the jealous girlfriend and refuse to give you CLI's because you transferred money away from them?
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: Balance Transfers

Jealous maybe? In my case when I do that they quickly send me a new BT offer that is lower to get me to BT back to them. I love it. I go back and fourth. Never had a problem. Always saved me money.
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: Balance Transfers

[ Edited ]

ilovepizza wrote: Jealous maybe? In my case when I do that they quickly send me a new BT offer that is lower to get me to BT back to them. I love it. I go back and fourth. Never had a problem. Always saved me money.
Thanks pizza. So would a lender be more apt to grant a new card if you are balance transferring a balance or would it have little to nothing to do with an approval?

Message Edited by smallfry on 05-19-2008 09:59 PM
Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007

Re: Balance Transfers



smallfry wrote:

Maybe I wasn't clear. Say you have a balance on a Citi card and want to transfer that to a new Chase card. Would Citi be the jealous girlfriend and refuse to give you CLI's because you transferred money away from them?

Great question!  I have read that Juniper likes to CLD and/or close accounts after BTing from them, but they're moody anyway.
 
Otherwise, I've never heard of any other CCCs having any issues with it.

 
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
Senior Contributor
ilovepizza
Posts: 3,071
Registered: ‎05-17-2007

Re: Balance Transfers

[ Edited ]

smallfry wrote:

ilovepizza wrote: Jealous maybe? In my case when I do that they quickly send me a new BT offer that is lower to get me to BT back to them. I love it. I go back and fourth. Never had a problem. Always saved me money.
Thanks pizza. So would a lender be more apt to grant a new card if you are balance transferring a balance or would it have little to nothing to do with an approval?

Message Edited by smallfry on 05-19-2008 09:59 PM


This is different. They can see a flag when you BT then after apply so I would not apply for new credit until balances are PIF. I have been denied for BT and then apping.

UPDATED. I might have misunderstood. Do you mean applying with a BT. No affect on being approved, however it can affect a larger CL.

Message Edited by ilovepizza on 05-19-2008 10:27 PM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: Balance Transfers



cheddar wrote:


smallfry wrote:

Maybe I wasn't clear. Say you have a balance on a Citi card and want to transfer that to a new Chase card. Would Citi be the jealous girlfriend and refuse to give you CLI's because you transferred money away from them?

Great question! I have read that Juniper likes to CLD and/or close accounts after BTing from them, but they're moody anyway.
Otherwise, I've never heard of any other CCCs having any issues with it.




I could care less if Juniper shut me down they're just a placeholder now and I wish I never got involved with them. I do however care about all my other relationships. Don't want to chance it really. I am almost tempted to run up a little balance with Juniper and see if I can get a card I might not otherwise get if I showed an amount to balance transfer.
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: Balance Transfers



ilovepizza wrote:

smallfry wrote:

ilovepizza wrote: Jealous maybe? In my case when I do that they quickly send me a new BT offer that is lower to get me to BT back to them. I love it. I go back and fourth. Never had a problem. Always saved me money.
Thanks pizza. So would a lender be more apt to grant a new card if you are balance transferring a balance or would it have little to nothing to do with an approval?

Message Edited by smallfry on 05-19-2008 09:59 PM


This is different. They can see a flag when you BT then after apply so I would not apply for new credit until balances are PIF. I have been denied for BT and then apping.

UPDATED. I might have misunderstood. Do you mean applying with a BT. No affect on being approved, however it can affect a larger CL.

Message Edited by ilovepizza on 05-19-2008 10:27 PM


Huh? How can you balance transfer if all your cards are paid in full? Example. Say I have little or no chance of a BOA credit card. I have a balance on my Juni I want to balance transfer to a BOA. Would BOA be more likely to approve me if I had a balance to bring with me or would my chances be the same if I didn't want to balance transfer. I see this on all applications.

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+