topic Re: Approved for PENFED CC need advice on BT please in Credit Card Approvals

Approved for PENFED CC need advice on BT please

glamchick — Wed, 04 May 2016 16:23:36 GMT

I would like to do a balance transfer from my icky First Premier cards to my new PENFED card. I'm tranfering about $1000 which will make my util under 10%

Then I plan to cancel First Premier. I still have other cc's with good history. Will a BT affect my score in any other way? like with AAOA?

Re: Approved for PENFED CC need advice on BT please

baller4life — Wed, 04 May 2016 16:36:01 GMT

A BT will not affect AAOA. It will only affect your util on your Penfed card. What limit were you approved for? Congratulations

Re: Approved for PENFED CC need advice on BT please

Anonymous — Wed, 04 May 2016 16:46:09 GMT

Congrats

Re: Approved for PENFED CC need advice on BT please

glamchick — Wed, 04 May 2016 16:48:06 GMT

Thanks! it was for 10,000

Nice signature Jimm420. I want mine to look like yours one day

Re: Approved for PENFED CC need advice on BT please

Anonymous — Wed, 04 May 2016 16:58:50 GMT

Congrats! I haven't been able to pick up a card from Penfed yet. May I ask what your EQ score was at time of approval?

Re: Approved for PENFED CC need advice on BT please

baller4life — Wed, 04 May 2016 17:20:30 GMT

So you will only be using 10%. I say go for it!

Re: Approved for PENFED CC need advice on BT please

glamchick — Wed, 04 May 2016 17:56:36 GMT

my score EQ was 690. They pulled EQ. I applied over the phone.

Since I will be doing a BT and won't be using the card until the balance is paid down. Will that affect my score not using the card every month?

Re: Approved for PENFED CC need advice on BT please

Anonymous — Wed, 04 May 2016 18:09:19 GMT

Actual use/swipes of a card do not impact your scores, the cra's have no idea how you're racking up your balances. Utilization and balances can and will as they move around. But utilization had no memory, it's a snapshot in time.

PenFed is great for BT's. The process was fast and I didn't feel like I was risking any AA. I pay on-time, everything is going smoothly.

Re: Approved for PENFED CC need advice on BT please

Anonymous — Wed, 04 May 2016 19:56:22 GMT

Congrats OP!

Re: Approved for PENFED CC need advice on BT please

Anonymous — Wed, 04 May 2016 20:20:20 GMT

Congratulations and welcome to the PenFed family! As baller4life said, "Go for it!"

Re: Approved for PENFED CC need advice on BT please

RonM21 — Thu, 05 May 2016 09:27:35 GMT

Congrats on the PenFed approval! I just got in with them yesterday.