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Valued Contributor
SnackTrader
Posts: 1,563
Registered: ‎09-15-2012

Re: Recon CL with Discover??


youngandcreditwrthy wrote:
Dang.... If that's the case then I may just pay it off lol.. It just kinda sucks cause once I pay that, I won't really have any cc debt to continue building my credit history. Hmmmm

Have yall heard of Barclay's extending 0% offers? Like for an extra couple of months? Lol

I'm confused about what you mean here...

 

There's no reason your credit history stops if you don't have debt.  I and many, many other people have never carried a credit card balance in their entire life and continue to build credit history with on time monthly payments.  I just hope you aren't getting the wrong idea from this forum on the credit game.  Sure, you want your reports to look good, but they will look best with long term responsible credit use. 

 

You would be making the right personal financial decision to pay off the debt before it gains interest, if you are able.  Why pay a $40 transfer fee?  Save the $40, buy yourself and your significant other a nice dinner.

 

 


In My Wallet: Amex BCP (12/12) $22.200, Chase CSP (4/14) $12,000, Barclaycard Arrival (5/13) $10,500, Citi Forward (12/12) $9,600, Cap1 Cash Rewards (6/12) $9,000, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Regular Contributor
negg
Posts: 184
Registered: ‎05-21-2011

Re: Recon CL with Discover??

Barclayscard is offering bal transfers till nov 1st. 0% interest if paid off bye 12-1-13. 3%transferfees 

Delta Amex $7500.........Marriott Rewards Premier $6500.......Discover IT $3800......Citi Preferred $2500...........Chase Freedom $2500........Barclay(apple) $2000.......BofA $1500.......
Capital One $4000.....ASB $3000(soon to be FNO visa)
Valued Contributor
Jazzzy
Posts: 2,678
Registered: ‎07-29-2009

Re: Recon CL with Discover??


SnackTrader wrote:

youngandcreditwrthy wrote:
Dang.... If that's the case then I may just pay it off lol.. It just kinda sucks cause once I pay that, I won't really have any cc debt to continue building my credit history. Hmmmm

Have yall heard of Barclay's extending 0% offers? Like for an extra couple of months? Lol

I'm confused about what you mean here...

 

There's no reason your credit history stops if you don't have debt.  I and many, many other people have never carried a credit card balance in their entire life and continue to build credit history with on time monthly payments.  I just hope you aren't getting the wrong idea from this forum on the credit game.  Sure, you want your reports to look good, but they will look best with long term responsible credit use. 

 

You would be making the right personal financial decision to pay off the debt before it gains interest, if you are able.  Why pay a $40 transfer fee?  Save the $40, buy yourself and your significant other a nice dinner.

 

 


I agree....transfer fees are expensive, and I often see people focus only on the 0%. These offers are far from 0% once you've paid the transfer fee.

 

You don't have to owe money to build your credit. Just use the credit wisely. And the wise thing to do here is to pay off the balance instead of paying another transfer fee. And your money isn't earning enough in the bank to justify the cost of the transfer fee.

Valued Contributor
maiden_girl
Posts: 2,005
Registered: ‎12-29-2011

Re: Recon CL with Discover??

The only fee-less BT card I know of is the Chase Slate. There's no balance transfer fee and they offer 15 month 0% APR. Most banks do charge the typical 3% fee based on balance transfered

The truth is out there...
FICO scores: 740 (EQ) 738 (EX) 750 (TU) 4/14 | Goal score: 750+ (all 3)
Tradelines: Capital One (5.0k) | Discover IT (5.0k) | Walmart Discover (5.0k) | Chase Freedom NPSL (7.3k) | Citi Simplicity (9.3k)
--------------------------Gardening until my credit recovers...NO MORE INQUIRES TIL 2015
Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: Recon CL with Discover??

There shouldnt be any confusion...

I'm not getting the wrong idea.

 

I know.... I would just hate to be denied anything in the future for not using enough of my avail cred lol.... but I suppose you are right :-)

 

Thanks!

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Senior Contributor
youngandcreditwrthy
Posts: 6,154
Registered: ‎08-16-2012

Re: Recon CL with Discover??

I know all about the bt fees, and I'm in the garden .. so no Slate for me...

 

weird though... Barclay's has a new offer for me.. 3.99% til 07/2013.. and a 4% fee. HAHAHA I'm just gonna pay them off.... no sense in dealing with that. I just hate not having as much cash in the bank.. but I suppose sacrificing liquidity for being debt free is the usual tradeoff haha... because if I don't have debt, then I don't need to be as liquid since my expenses are much lower hahaha.

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k| West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k

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