topic Re: Best Card for Balance Transfer? in Credit Card Approvals

[Update: Approved] Best Card for Balance Transfer?

bennew111 — Wed, 19 Sep 2018 21:42:21 GMT

I am trying to find the best card for a balance transfer. I am looking for a high SL and the cheapest balance transfer i.e. 0 balance transfer fee and 0% APR length of time. I keep seeing the Discover It mentioned and the Amex EveryDay card. I notice that the Discover card has a 3% BT fee and that the Amex EverDay card has no BT fee yet it does not seem to even get ranked when I look up best BT cards. Any advice on what card is best(does not have to be those two) and most likely to get approved? I recently got approved for a Capital One Venture card for $8K. I took a cash advance and now wish to to transfer the balance. Thanks!

Re: Best Card for Balance Transfer?

kerplunk — Sat, 25 Aug 2018 21:28:22 GMT

These may be of value to you:

American Express EveryDay
Bank of American BankAmericard
U.S. Bank Platinum Visa

Re: Best Card for Balance Transfer?

Kevin5974 — Sat, 25 Aug 2018 21:36:49 GMT

Citi had one for 21 months. I think it was the diamond preferred card. Haven't applied for it myself.

Re: Best Card for Balance Transfer?

Gokuva — Sat, 25 Aug 2018 22:24:48 GMT

Usually when people are asking for a BT card it's because they have a high utilization resulting in less than stellar scores. The DiscoverIT is a card that you can get approved for a higher limit than some of the other BT options if your score is hovering around 700 (or lower). Another positive to the DiscoverIT is that it isn't a dead card once the 0% APR expires like most other options. I bolded "can" because people have reported wildly different experiences while having similar scores.

Are you looking to BT more than a couple thousand dollars? If so I'd stay clear of the Citi Diamond Preferred or Chase Slate unless you have higher scores, and even then I've seen low SL on these cards with pretty good scores. I would suspect with only a 7k approval on the Cap1 Venture you may be dissapointed with those two cards.

Do you have a relationship with Discover or AMEX? If so I'd maybe pursue those options.

If you're fine with a dead card after the 0% period I would echo the poster above and suggest the BoA BankAmericard. It seems to give starting limits with enough room, and has the perk of having 0% BT fees/15 months of 0% APR.

Also just a quick reminder if you aren't aware - you're unable to balance transfer any money from your Cap1 Venture to another Cap1 card that has a 0% ARP offer (like the QS or VentureOne).

Good luck, and keep us updated on how everything turns out!

Re: Best Card for Balance Transfer?

Anonymous — Sat, 25 Aug 2018 22:42:12 GMT

Navy Fed Platinum has no BT fees, 0% Apr for 12 months and are known to give high limits. If you need more than 12 months i suggest looking at Citi or Discover.

Re: Best Card for Balance Transfer?

bennew111 — Sat, 25 Aug 2018 23:31:54 GMT

I have never had any military affiliation. Is there any way I could qualify for an NFCU card?

Re: Best Card for Balance Transfer?

Gokuva — Sat, 25 Aug 2018 23:35:25 GMT

@bennew111 wrote:
I have never had any military affiliation. Is there any way I could qualify for an NFCU card?

Did any grandparents or parents serve? If not - I don't believe so. There was a way to get in by joining a navy league, but that backdoor entry has closed.

Re: Best Card for Balance Transfer?

bennew111 — Sat, 25 Aug 2018 23:39:27 GMT

No but thanks for answering

Re: Best Card for Balance Transfer?

bennew111 — Tue, 28 Aug 2018 21:20:11 GMT

thank you

Re: Best Card for Balance Transfer?

bennew111 — Tue, 28 Aug 2018 21:22:19 GMT

thank you ver y much and i will keep you posted. i have much to learn.

Re: Best Card for Balance Transfer?

Anonymous — Tue, 28 Aug 2018 22:57:21 GMT

I get Discover snail mail several times a week with 0 percent and 0 transfer fee. I signed up for Discover scorecard and that is probably why they bombard me with the offers.

Re: Best Card for Balance Transfer?

Anonymous — Tue, 28 Aug 2018 23:15:37 GMT

I have a no-frills Platinum Visa that I got from a local credit union here in Northern VA, Apple Federal Credit Union, last year, currently with a $7K credit limit. Since it doesn't have any rewards that would be wasted by putting BT's on it, and since it currently has the lowest APR of any of my cards (plus which no fee for BT's), I'm going to use it for BT'ing several small ($500 - $600) balances from cards with much higher APR's. That is, once I can work out a technical issue that's preventing me from doing BT's from Sync cards to the Apple card online. I might end up having to have them cut old-fashioned checks, yuck. (My overall utilization is 8% or so, by the way, but I want to consolidate existing bills; I'm considering closing my highest-APR card, Overstock, with 28.74% - ouch!!! - if I can get a NFCU card with a good SL reasonably about the same as that card, so hopefully $8k - $10k though I won't say no to more!)

Re: Best Card for Balance Transfer?

bennew111 — Wed, 19 Sep 2018 16:16:11 GMT

Thanks!

I went for the BankAmerica Cash Rewards Card and got a low SL, 3k, but that was enough to help me get rid of the cash advance interest rate on my other card plus they are giving me a sign on bonus of $200 if I spend $500 in 90 days! This will cover the BT fee and my cash advance fee. I also found out from the rep that they evidently keep repeating their zero % APR every few months.

Now I am trying to get a self employed car loan.

Have a great day and thanks again.

Re: Best Card for Balance Transfer?

SouthJamaica — Wed, 19 Sep 2018 20:24:15 GMT

@bennew111 wrote:
Thanks!

I went for the BankAmerica Cash Rewards Card and got a low SL, 3k, but that was enough to help me get rid of the cash advance interest rate on my other card plus they are giving me a sign on bonus of $200 if I spend $500 in 90 days! This will cover the BT fee and my cash advance fee. I also found out from the rep that they evidently keep repeating their zero % APR every few months.

Now I am trying to get a self employed car loan.

Have a great day and thanks again.

I've had the card for 14 months, and they've never repeated it.

Re: Best Card for Balance Transfer?

K-in-Boston — Wed, 19 Sep 2018 21:50:01 GMT

Congratulations on your approval. I’ve updated your title and moved this thread to approvals.

Most BankAmericard, Cash Rewards, and Travel Rewards cardholders do have persistent 0% and 1.99% balance transfer offers. YMMV as @SouthJamaica noted.

Keep in mind that if you have already done the balance transfer, any new charges (and any residual balance from previous charges) will not have a grace period if you do not pay the next statement balance IN FULL, including the transferred amount. That may eat into your signup bonus, although if you make the charge prior to your first statement closing and pay at least the sum of all new charges PLUS the minimum payment (which would be applied to your 0% balance first), you should be fine.