topic Re: Bankamericard for BT? in Credit Card Applications

Bankamericard for BT?

Anonymous — Wed, 22 Jun 2016 15:01:41 GMT

So I am thinking in the near future of finally getting rid of my Chase Freedom debt (5988/7000) I saw that this card has 0% for 18 months and no purchase intro Apr which is perfect since I won't use it for that. I heard this card is one of the harder ones to get with Bofa? Any reviews ppl can provide me of it? My credit profile:
Chase freedom: 5988/7000
Boa bbr: 400/3000
Citi: 1990/2000
Slate: 568/1000
Fico about 670 across board
2 inquiries, last in jan 2016
AAOA is about 4 yrs
30 day late in march 2013, but have gotten 3 ccs since then

What do you guys think of my chances and my plan?

Re: Bankamericard for BT?

jacetx — Wed, 22 Jun 2016 15:07:07 GMT

@Anonymous wrote:
So I am thinking in the near future of finally getting rid of my Chase Freedom debt (5988/7000) I saw that this card has 0% for 18 months and no purchase intro Apr which is perfect since I won't use it for that. I heard this card is one of the harder ones to get with Bofa? Any reviews ppl can provide me of it? My credit profile:
Chase freedom: 5988/7000
Boa bbr: 400/3000
Citi: 1990/2000
Slate: 568/1000
Fico about 670 across board
2 inquiries, last in jan 2016
AAOA is about 4 yrs
30 day late in march 2013, but have gotten 3 ccs since then

What do you guys think of my chances and my plan?

The problem I see is your utilization is over 90% on two cards and over 50% on another. You could get approved but the limit would be small. Instead of obtaining new credit try to work on paying down the debt. In the past BoA credit analysts declined to overturn a denial because my utilization was too high.

Re: Bankamericard for BT?

RonM21 — Wed, 22 Jun 2016 23:39:51 GMT

This is a good point, mainly because if you want a BT, it almost can become worthless if you get a limit that won't even cover most of what you need. You honestly would stand a better chance by getting some of the utilization down first.

Re: Bankamericard for BT?

Anonymous — Thu, 23 Jun 2016 13:34:28 GMT

I would prefer you add a card to your lineup that does not have a BT fee. That way in the future you can do Debt Shuffles. Can be risky for some.

Bank of america bbr and citi limit could get pretty high if you played your cards right, and they will send you checks constantly for BTs. May need a HP for increase.

Is there a local credit union near you that has a card with no BT fees and fairly low APR (below 10, ideally 8% or less)

So first, get your overall utilzation down, then take hp increases for BOA if your account is 5 months old or more, same for citi, then app for CU card with no BT fee.