Balance transfer cards

[Croselx]

My situation is the following:

$20K total credit, using 11%

that 11% is on a high APR card and I wish to do a BT to a 0% card.

I have a chase freedom that is still on the promo period of 0% for 15 months on BTs, but when I applied was given only a toy limit of $500 (applied at the end of an app spree ..should of been the first). The chase freedom is at 60% utility since it also has an 0% APR. I want to ask for a 7-10x CLI so I can transfer that $2k and not have the card maxed out for utility purposes.

What are the chances of being approved? My credit is clean with only a 30 day late about 3 years ago. Could Chase deny me based on the utility of their card and the card that I want to do the BT from? Or do you guys think a new BT card has higher approval odds?

[09Lexie]

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@Croselx wrote:

My situation is the following:

$20K total credit, using 11%

that 11% is on a high APR card and I wish to do a BT to a 0% card.

I have a chase freedom that is still on the promo period of 0% for 15 months on BTs, but when I applied was given only a toy limit of $500 (applied at the end of an app spree ..should of been the first). The chase freedom is at 60% utility since it also has an 0% APR. I want to ask for a 7-10x CLI so I can transfer that $2k and not have the card maxed out for utility purposes.

What are the chances of being approved? My credit is clean with only a 30 day late about 3 years ago. Could Chase deny me based on the utility of their card and the card that I want to do the BT from? Or do you guys think a new BT card has higher approval odds?

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You are better off apping for another cc.  doubtful that Chase would increase your CL that high with the info provided. 

[negg]

Takes awhile, but Barclay is great BT company. After about 6 months they will mail you weekly checks/BT deals.  0% apr and 1% fee for 15 months.  

[Croselx]

I'm thinking of Discover IT or Chase Slate for the BT if applying for a new card . I don't think that I will have any offers from Barclay since I am from Puerto Rico and it doesn't appear as an option when selecting state.

I rather get a CLI increase on my freedom though.. think that I have higher chances if I pay the freedom to 0% and request the increase? Or is chase known for being stingy with CLIs?

[FinStar]

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@09Lexie wrote:

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@Croselx wrote:

My situation is the following:

$20K total credit, using 11%

that 11% is on a high APR card and I wish to do a BT to a 0% card.

I have a chase freedom that is still on the promo period of 0% for 15 months on BTs, but when I applied was given only a toy limit of $500 (applied at the end of an app spree ..should of been the first). The chase freedom is at 60% utility since it also has an 0% APR. I want to ask for a 7-10x CLI so I can transfer that $2k and not have the card maxed out for utility purposes.

What are the chances of being approved? My credit is clean with only a 30 day late about 3 years ago. Could Chase deny me based on the utility of their card and the card that I want to do the BT from? Or do you guys think a new BT card has higher approval odds?

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You are better off apping for another cc.  doubtful that Chase would increase your CL that high with the info provided. 

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+1

As Lexie mentioned OP, based on the factors you shared, it is likely the CLI may be insignificant.  You can try your luck with the Slate, and if approved for a decent CL, you can transfer a portion of that to Freedom.  Usually Slate would have a better BT promotion than Freedom and no BT fees.

[jamesdwi]

a $500CL chase credit card is the kiss of death, it won't grow fast and it will cost you a HP to try.  There are other card companies that will give you a better rate and decent BT deals, First National Omaha  has a number of cards, they have a tendancy to do manual reviews but aren't overly paranoid about a baddie or two on your report and have been good with initial CL's,  Also lots of people are having good luck with the Oregon duck card, try one of them, they may hit you with a 3% BT fee but  both have 12 months 0% intro APR.

[Croselx]

Well as of today I applied for a Slate and got the 7-10 day message. I called and was told I needed to verify some identity information (probably since I am applying from Puerto Rico and Chase has no branch here). Confirmed everything and was told I was approved, but they didn't disclose the credit line. When I applied I requested for the BT to be done automatically so the credit line should be at least 2.5k.

After I pay this off I will combine it with the Freedom card and close down the Slate (if allowed) since I don't see any benefit to the Slate other than the balance transfer offers. Thanks everyone for the advice.

[FinStar]

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@Croselx wrote:

Well as of today I applied for a Slate and got the 7-10 day message. I called and was told I needed to verify some identity information (probably since I am applying from Puerto Rico and Chase has no branch here). Confirmed everything and was told I was approved, but they didn't disclose the credit line. When I applied I requested for the BT to be done automatically so the credit line should be at least 2.5k.

After I pay this off I will combine it with the Freedom card and close down the Slate (if allowed) since I don't see any benefit to the Slate other than the balance transfer offers. Thanks everyone for the advice.

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OP - contact them just to make sure.  1-800-945-2000.

[wHiTeSoL]

Or since you have a freedom already log into you chase account and see if it's popped up yet. Should be rather quick.

[Croselx]

Update:

I called and was told the credit limit was $500 with no chance of increase at this time. I was very disappointed since I wanted at least $2K (plan being to transfer this full balance to the Freedom after I pay off the $2K in debt).  Well I decided to forget about it until the card arrived, which was today. I called the recon # and a nice lady answered and after a few questions I got as 5x increase.  Very happy with the results, specially seeing as I messed up on the application. I let 5 out of 7 accounts report a balance with 2 being high utility (70%+) vs the credit line available.

Do note that I wasn't able to log in to the slate card or access balances until the card arrived. I had to make a 'new' account in order to see the balance and options for the account. Thanks for the advice everyone!