Did I make a smart move?

[creditwatcher2012]

Here what I did, as some of you may know I applied for the CSP and was decined, so today I called the recon and explained to them that I understand that they cannot approve the CSP but if they look at my reports they will see that I can caryong a 1300 balance on my lowes card, I asked them if there was any way that I could consolidate credit to open a SLATE she said it would be a HP and I Said okc after 2-3 mins on the line she came back and said that she was able to use the HP from the CSP, which I said was good, so hers what I did

I moved 1000 from the BP card to open up the Slate, to take advantage of the 0% balance transfer form 15 months, my new BP limit is 700.00 decreased from 1000.00.... Was that a smart move?

[Creditaddict]

Yes!

[creditwatcher2012]

Ok great thanks for the reassurance

[09Lexie]

Are you going to use the new Slate, to pay off the BT you just did to your NFCU -which you just used to pay off the BP?

[creditwatcher2012]

Does this open my doors up to Auto CLI on the chase accounts?

[creditwatcher2012]

Lol, sorry for not keeping you guys updated, my NFCU currently has a balance of 3900.00/25000, I made subsequent payments when I did those other chase bal transfers, I basically just told the rep that so I could get the slate(figured I didn't want to let a HP go to waste) my NFCU will be paid off by mid November

[09Lexie]

Others might chime in but I'd be carefully robbing Peter to pay Paul. If you were given BT checks maybe but idk how closely they monitor BTs. Also, it's not a good idea to go back and forth using the same lenders.

[enharu]

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@09Lexie wrote:
Others might chime in but I'd be carefully robbing Peter to pay Paul. If you were given BT checks maybe but idk how closely they monitor BTs. Also, it's not a good idea to go back and forth using the same lenders.

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+1.

More importantly, it's bad for you even if you are not to worry about what the bank is going to think. 

Taking money from A to pay B, and then from C to pay A, etc. can get out of control very easily.

Since what's done is already done, you can only salvage to situation to make it better rather than to harp on past actions.

From what I remember you had a decent income, so hopefully you can pay it off soon w/o any issues.

[B335is]

I think you made a good move taking advantage of the 0% Slate offers only if you chip away at that balance in the next few months.  If you only plan to carry the balance long term making only minimum payments, as Lexie said, you're just robbing Peter to pay Paul, which isn't what you should do - banks catch onto this practice very quickly.

[creditwatcher2012]

I hear you, I have paid close to 5k so far on the NFCU card, my original balance transfers were 5700? Remember 4k freedom, 1700bp, I bought furniture for 2500.00, and now have a balance of 3900.00 so I have been paying down