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Looking for a balance transfer card

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ooeemusic
Established Member

Looking for a balance transfer card

Hi everyone, I'm looking for a balance transfer card to move some debt to so I can pay some of it down without interest. I current have a 722 according to experian and 720 per Transunion. I have a very high percentage utilization (45%) as one of my store credit cards was closed due to inactivity recently, and it had a 6k limit. That bumped my utilization from right around 33% to where it is now. I have about 17k in debt, with about 36k total in credit limits over all accounts. I have a chase card with a $0 balance on it and $3300 limit, however, I somehow got removed from the pre-qual system which also removed me from the balance transfer offers. I have opted back in the pre-qual offers, but have yet to receive anything.

I've never gotten turned down for a credit card, so I'm not really worried about that. I haven't opened any cards for over 2 years so the only inquires I have are a cable company last month and Kia from 6/2015. Any suggestions? I want to move about 3k or so and would move more if I was able to get a high enough limit.

Last card I applied for was a discoverIt card in 12/2013 or 1/2014 and got a 5k limit with balance transfer offer for 18 months. That is the card I'm now looking to move from, so I need something that is not Discover.

Thanks everyone.

Message 1 of 27
26 REPLIES 26
Anonymous
Not applicable

Re: Looking for a balance transfer card

Have you considered Chase Slate? 0% for 15 months and no BT Fee when you do it in the first 60 days?
Message 2 of 27
ooeemusic
Established Member

Re: Looking for a balance transfer card

I will give that one a look, my only hesitation with that would be, how likely would it be for Chase to give me another card in the 3k+ limit range when I currently have a chase with that limit with a $0 balance? wouldn't that look at it and say why does she need a Chase card when she already has a card with a $0 balance?

Message 3 of 27
Anonymous
Not applicable

Re: Looking for a balance transfer card

Honestly, just the other day I was considering going for the Slate because I wanted to BT around $7000 from my PRG.  Actually applied for it, but it was denied because I had my Transunion Report frozen (no HP).  I was expecting them to hit Experian.  Didn't really want to unfreeze TU for them since I had 4 new HPs from last month.  At that point I looked into the Citi Simplicity, which I found to have a better deal.  0% APR on purchases and BTs for 21 Months.  There is a BT fee of 3%, so there's that, but for nearly 2 years without interest, I think it's well worth the 3%.

 

Applied for it yesterday and was instantly approved for $11.2K and a decent APR (after the intro 0% APR) of 16.24%.

 

With your scores, assuming they're true FICOs, I'd say you've got a pretty good chance for approval.

 

With your low # of inquiries I think the only issue would be your utilization.  I've never had any experience with Citi aside from my app yesterday, although my utilization was 18%.  That's the only thing I could see being an issue (at least where a larger CL is concerned).

 

In my case Citi pulled Experian but I've heard they like to pull EQ as well.

 

Let us know what you decide to go with

Message 4 of 27
ooeemusic
Established Member

Re: Looking for a balance transfer card

And...I see you edited and answered this question before I acutally asked it lol! Thanks! Maybe I'll give Citi a go...

 

I actually just looked at the Citi one, it looks like a good BT deal, but, is a 722 with a 45% utilization realistic to get approved? I've read a lot of mixed reviews about approval.

Message 5 of 27
Anonymous
Not applicable

Re: Looking for a balance transfer card


@ooeemusic wrote:

And...I see you edited and answered this question before I acutally asked it lol! Thanks! Maybe I'll give Citi a go...

 

I actually just looked at the Citi one, it looks like a good BT deal, but, is a 722 with a 45% utilization realistic to get approved? I've read a lot of mixed reviews about approval.


No problem, I would wait and see if others on here with more Citi experience have anything to say about it.  You might even consider applying for both since you have few inquiries.

 

Good luck!

Message 6 of 27
ooeemusic
Established Member

Re: Looking for a balance transfer card

Well I didn't see your wait message until just now and applied for the citi one and got denied...dang. Maybe I'll get a bt offer on my already open Chase soon...

Message 7 of 27
ooeemusic
Established Member

Re: Looking for a balance transfer card

You know, aren't Best Buy and Home Depot both with Citi? I have both, HD with a 3k limit currently $0 balance and BB with an 800 limit with a $70 balance...makes no sense to me that they wouldn't approve me for a Citi card. Maybe I will wait for the letter, see what the issue is an then give them a call to see if they will recon.

Message 8 of 27
AverageJoesCredit
Legendary Contributor

Re: Looking for a balance transfer card

Best buy and Home Depot are on the retail of Citi whereas Simplicity is from their legacy cards, i believe more stringent. ;(
Message 9 of 27
ooeemusic
Established Member

Re: Looking for a balance transfer card

Sigh, well, we will see what the letter says, although, I'm sure it will say high utilization is the issue.

Message 10 of 27
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