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Balance Transfers

Senior Contributor

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?
8 REPLIES
Senior Contributor

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

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

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

Re: Balance Transfers


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

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.

 
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Senior Contributor

Re: Balance Transfers


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

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

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.