10-16-2012 03:58 AM
I am supposed to close nov 1st. I have a feeling we miht be behind but I don't know for sure. All my cash is tied up in this mortgage and I have a 3700 balance on my visa which the promotional interest runs out on nov 2nd. I reallly need to transfer that to my psecu by using one of the 3.9% checks they sent me out.
Can I do this? Will it even report on my credit by the time i do it? Say If i send it out in the mail oct 26?
10-16-2012 04:13 AM - edited 10-16-2012 04:19 AM
So say by the end of the mortgage I have the same account in cc debt , just about 4600 bucks. but all on my psecu instead of my visa.... and they repull my credit. is this going to set off any alarms? Also tho I calculated out the interest I would be charged if I don;t do this balance transfer ... and its like 60 bucks a month. That would definitely raise my minimum payment.
My gut feeling says I should just do it and if they ask why do write a letter saying I am paying those off over the next 6 months and it makes more sense to get the 2.9 rate compared to the 20 rate
10-16-2012 04:33 AM
Well thoughts on this if you like but I think I can't stomach 60 dollars a month in interest . It would make me sick. I'm going to do this balance transfer but not until one week from now. That way the chances are it won't reflect even if they pulled my credit again towards the end.
10-16-2012 06:38 AM
I see you answered your own question. I don't think there are a lot of us on this site at at 4 am, but who knows....
The only risk you are taking is that the charge from the BT shows on your new visa before it is credited off the old one which would make your debt appear higher than it actually is - but then a normal LOE should explain that away. By all means, do what you can to save the interest. It makes good financial sense.
10-16-2012 01:57 PM
It's coming off of a bank of america visa so when it updates to 0 can't I do an address change on it just accept the same address as before and it will auto update to all three cb's?
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.