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.
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