Credit score needed for a transfer credit card?

[Peteyglad]

My wife has scores in the 800's and a six figure income. She had around $8k on a high Apr card when we first met. Chase gave her a $3k limit on a Slate and Citi gave her a $6k limit on a TYP. She ended up splitting the balance between the 2 cards and paid them off ASAP.

So even with good scores and income it can be tough to get what you are looking for. Don't rule out getting more than 1 balance transfer card to suit your needs. Will be tough with that score though. 

[egypt04]

As of right now, I'm just continuing to try and throw any extra money at my current balance. I'm not using the card nor am I tempted to use it.

I'm working on getting some student loans cleaned up so hopefully that will bump up my score a bit as well.

I joined a CU in June so I might speak to someone there about if I have any options or if they have any advice.

All this different input has been good - even if it hasn't been very uplifting haha. 

Is there a score I should strive for before even attempting to apply for a different card to help out my file? It would only be to help out my credit file, not to charge up at all. Been there, done that and learned my lesson!

[ttleigh]

I highly recommend talking to a few credit unions. Many of them will be straight with you before applying in what you can qualify for. And even if you got in the door with a lower amount you could always transfer a smaller amount pay that off and then transfer more.
So if you got approved for 3000, transfer 600 and then when it's paid off transfer another 600. Better to pay as little interest as you can. It doesn't take long to get an increase with a cu.

[adamkingadam]

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@egypt04 wrote:

I currently have 1 Capital One credit card with a limit of $6800 but with a $6300 balance. The account is in good standing but the APR is high. It was 23.15% and I just called to get it lowered and they changed it to 20.15% for 7 months. I have been reading about the best way to get it paid off and it was suggested to transfer the balance to another card that has 0% for up to so many months. That way I could get it paid off a lot quicker with WAY less interest charges.

My question is regarding what range of credit score(s) do you need to get approved for one of these cards? On this website it says you should have a score of 700 or higher - is that true across the board for most transfer cards? If so, I will need to wait until my scores reach that range as they are currently around the 630 range.

Also, can you get approved with negatives on your reports. It's been AGES since I've applied for a credit card so I'm not sure what the parameters are for getting approved.

I'd love any kind of insight, guidance and suggestions please. : )

Mainly I'd like to know what I need 1 or all 3 credit scores to reach before trying to apply for a transfer card - thanks!!!

PS. Also this is probably a dumb question but I seached for the answer and couldn't find anything on this forum. 

How do I put my current FICO scores on the bottom of every message I post in the signature bar section like I see most members have? 

There's gotta be some way to do that w/o writing it in everytime you go to post something right?

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1st. get that uti % below 90% and keep it below that going forward. 2nd, I have no Idea what your finances are, but if possible make sizeable payments over the next couple of months to get that UTI % down, then  aftet three months I would ask Cap One for a CLI to further get that UTI % down. The faster you can get that balance down, the better chances of getting a score boost and a balance transfer card to transfer the rest of the Cap One Balance too. 

[egypt04]

My first thought was to see if they could increase my credit limit after I called to try and lower my APR. They denied me but said only because I hadn't been paying more than the minimum due each month (which honestly makes me sad each month I have to shell out $200)!!!

However, starting last month I've been able to pay more than is due plus I got rid of 2 monthly charges ocurring on said card which frees up an extra $20 which I'm very happy about. Gotta start somewhere and every little bit helps. I'm trying to pay my balance down right away so that I will only get charged interest on the lowest amount.

Curious to see how much my 3% reduction cuts off my finance charges, wish it was more but I'll take what I can get. Also, the more my score improves, the better my bargaining power will become. 

Since I just requested a CLI late last month, when should I try again? 3 months the earliest?

[adamkingadam]

3months at the earliest. You really need to dump as much as possible into your payments over that time. If they see you making payments such as $500 a month, they very well may be inclined to cli. But if that kind of payment is not possible for you, just make sure you are paying as much as you can above the interest due, and give it time.