Anybody ever transfer a limit, just to take advantage of a balance transfer offer?

[gen-specific]

Say you have two cards at the same institution

Have you ever transferred a limit from one card to the other just to take advantage of a balance transfer offer? I guess this wouldn't be any different than taking advantage of any other promotional APR

[Revelate]

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@gen-specific wrote:

Say you have two cards at the same institution

Have you ever transferred a limit from one card to the other just to take advantage of a balance transfer offer? I guess this wouldn't be any different than taking advantage of any other promotional APR

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I don't think lenders allow you to BT from another one of their cards typically?  Think Chase is one such example that doesn't to my knowledge... usually they want that balance from another financial institution.

Most of the BT offers I've ever gotten have a fee that usually makes it not worthwhile but I haven't needed to ever carry a balance and my opinion would probably change if that happens.

[gen-specific]

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@Revelate wrote:

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@gen-specific wrote:

Say you have two cards at the same institution

Have you ever transferred a limit from one card to the other just to take advantage of a balance transfer offer? I guess this wouldn't be any different than taking advantage of any other promotional APR

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I don't think lenders allow you to BT from another one of their cards typically?  Think Chase is one such example that doesn't to my knowledge... usually they want that balance from another financial institution.

Most of the BT offers I've ever gotten have a fee that usually makes it not worthwhile but I haven't needed to ever carry a balance and my opinion would probably change if that happens.

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I said transfer a limit, as in credit limit, from one card to the new card, just so the new card now has a higher limit to do 0% balance transfers (from different institutions)

I was wondering if that would have been ambiguous when I typed it, but I thought saying limit would be distinctive enough from balance transfer

[Revelate]

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@gen-specific wrote:

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@Revelate wrote:

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@gen-specific wrote:

Say you have two cards at the same institution

Have you ever transferred a limit from one card to the other just to take advantage of a balance transfer offer? I guess this wouldn't be any different than taking advantage of any other promotional APR

---

I don't think lenders allow you to BT from another one of their cards typically?  Think Chase is one such example that doesn't to my knowledge... usually they want that balance from another financial institution.

Most of the BT offers I've ever gotten have a fee that usually makes it not worthwhile but I haven't needed to ever carry a balance and my opinion would probably change if that happens.

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I said transfer a limit, as in credit limit, from one card to the new card, just so the new card now has a higher limit to do 0% balance transfers (from different institutions)

I was wondering if that would have been ambiguous when I typed it, but I thought saying limit would be distinctive enough from balance transfer

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Misread, happens; however, AFAIK people have xferred limits to Slate in the past which there's no reason to do so other than your scenario.

[takeshi74]

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@gen-specific wrote:

I said transfer a limit, as in credit limit, from one card to the new card, just so the new card now has a higher limit to do 0% balance transfers (from different institutions)

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Your subject and OP aren't very clear and I thought the same thing as Revelate until I saw your later reply clarifying.  It's a given that limits can only be transferred from cards with one given creditor so the "same institution" made it sound like the BT was for cards with the same instituion.

I haven't done so but what are your concerns?  If the creditor will allow reallocation of limits then there isn't an issue.  As stated above, make sure to consider any applicable BT fee.  Also make sure you consider utilization on the card being used for the BT.

[HiLine]

What are you concerned about?

[Anonymous]

Yes.  Did this with Chase to take advantage of great terms on Slate BT.  Did it all through Secure Message.

[gen-specific]

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@Anonymous wrote:

Yes.  Did this with Chase to take advantage of great terms on Slate BT.  Did it all through Secure Message.

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Thanks, this is what I'm thinking about doing, although I saw the BT limit for the current promo is $15,000. So we'll see if it is even necessary.

[gen-specific]

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@HiLine wrote:
What are you concerned about?

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Just new to balance transfer fun. Wasn't familiar with the various conditions people might have encountered with different institutions