topic Re: Wells Fargo Reflect Balance Transfer Card Aproved ! in Credit Card Approvals

Wells Fargo Reflect Balance Transfer Card Aproved !

urluckypenny1 — Mon, 29 Jul 2024 01:56:31 GMT

After being on this board and asking questions, I decided to with the Wells Fargo Reflect BT card. They gave me a $10 K limit 0% for 21 months.

the question is I'm going to transfer $5,800 from my AMEX card. What to I do with the other $4,200 of the limit. I'd say nothing being that way I wouldn't have 50% utilization instead of 7500 plus? 🤷‍♂️
i Heard- of people taking it out and using the money to leverage the left over money?

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

MissLiz — Mon, 29 Jul 2024 02:28:26 GMT

Congratulations on your nice approval!
(I'm not following your question 😬)

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

JoeRockhead — Mon, 29 Jul 2024 03:01:49 GMT

Nice to see you found an approval with a useful limit for your BT needs. You should avoid going over 79% utilization on the new card if at all possible. Congratulations on your approval.

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

gingerflower — Mon, 29 Jul 2024 03:47:52 GMT

Congratulations on your approval with a nice SL

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

NoMoreE46 — Mon, 29 Jul 2024 14:02:08 GMT

@urluckypenny1 wrote:
After being on this board and asking questions, I decided to with the Wells Fargo Reflect BT card. They gave me a $10 K limit 0% for 21 months.
the question is I'm going to transfer $5,800 from my AMEX card. What to I do with the other $4,200 of the limit. I'd say nothing being that way I wouldn't have 50% utilization instead of 7500 plus? 🤷‍♂️
i Heard- of people taking it out and using the money to leverage the left over money?

Dont Leverage this - Remember there is a 5% BT fee.

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

coreyb80 — Mon, 29 Jul 2024 22:00:37 GMT

Congrats!

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

Rdbeetle — Tue, 30 Jul 2024 01:54:33 GMT

Congrats on your WF approval!

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

911gt34life — Tue, 30 Jul 2024 04:10:02 GMT

Congrats

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

FlaDude — Tue, 30 Jul 2024 12:31:08 GMT

@NoMoreE46 wrote:
@urluckypenny1 wrote:
What to I do with the other $4,200 of the limit. I'd say nothing being that way I wouldn't have 50% utilization instead of 7500 plus? 🤷‍♂️
i Heard- of people taking it out and using the money to leverage the left over money?
Dont Leverage this - Remember there is a 5% BT fee.

Sounds like good advice to me, between that and effect having a maxed out card has on your score.

Congrats on the new card!

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

4sallypat — Wed, 31 Jul 2024 12:51:08 GMT

Keep the utilization under 30% - I have a $16K CL and never go above 30% as it impacts your score.

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

NoMoreDebt — Thu, 01 Aug 2024 00:03:37 GMT

Congrats

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

urluckypenny1 — Thu, 01 Aug 2024 00:45:23 GMT

Thank you all for the help and suggestions!! I'll take all your advice.

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

cashorcharge — Sat, 03 Aug 2024 00:21:22 GMT

That’s Terrific!! Congratulations on your Approval!!👏🏼🍾🥂

You'll take a score hit for the new account and another for the over 20% individual utilization so I would leave the remaining CL alone for bit

Re: Wells Fargo Reflect Balance Transfer Card Aproved !

CreditAggie — Sat, 17 Aug 2024 22:42:15 GMT

Congratulations on your Wells Fargo Reflect approval!