New Member
Posts: 1
Registered: ‎06-24-2007

0% balance transfer strategy

I have good fico score ~700. Interested in opinion. Just opened new CitiBusiness credit card ~$8000 credit line and consolidated $45,00 from second CitiBus card ( left $5,000 on this card). With the $53,000 credit line on the card with the 0% balance transfer promotion (they will send me check), what is the maximum I should take (? up to 90% -) to minimize hit on fico score. I have easily over $250,000 credit line on numerous cards( personal & business) with probably 1/3 the cards no balance( do not use or use and pay off each month) and the other 2/3 with 0 - 1.99% balance transfer promotions where I pay slightly more than the minimum each month and have balance of 75-90% of max. None of the cards have accumulating interest that is not part of a promotional rate. Lastly, does paying 1 day early or more than the minimum due improve the fico score. thanks, Al
Senior Contributor
Posts: 3,071
Registered: ‎05-17-2007

Re: 0% balance transfer strategy

[ Edited ]
To minimize the hit? Less! Their is no way to minimize as debt is the factor that brings down your score. 89% is the limit before you get hit with an additional greater loss due to maxing at 90%.

Message Edited by ilovepizza on 06-24-2007 08:40 AM
If we never set higher goals we would never get as far.
sol, credit 101, acr, abbreviations, calc

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