08-09-2013 11:25 AM
08-09-2013 11:28 AM - edited 08-09-2013 11:29 AM
I was just approved for a cc through my CU with no annual fee. My question is I reallllllly want to close my capital one and transfer the balance but I'm confused on how it will work once balance is transferred do I close the card then?? I will pay it to a zero balance before transfer. Thanks to all who answer
You lost me
You want to do a BT to your new card correct?
Why would you pay the CAP1 to zero then?
Forgive me if I missed something
08-09-2013 11:34 AM
08-09-2013 11:41 AM
I don't know that's why I'm asking do I have to pay it off that's where I'm confused once I transfer balance what happens to the rest my available is 200/750
Ok got you now
No do the BT but be prepared to pay the minimum if it doesn't go through when you expect it to..
So monitor your CAP1 account so that you know when it gets moved. If it has not moved by the time CAP1 due date..... pay the minimum payment
08-09-2013 11:42 AM
08-09-2013 11:54 AM
Thanks for clearing that up so once transfer is done do you know how it will report on my cr
Once the transfer is done, the account you transferred from will generate a statement with -0- balance and will report zero.
It will not automatically get closed though.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.