topic Re: Best Balance Transfer card with Highest possible Credit limit on approval? in Credit Cards

Best Balance Transfer card with Highest possible Credit limit on approval?

RandomSpirit — Sat, 02 May 2015 23:50:06 GMT

What is the best balance transfer card (preferably with no transfer fee)?

I am trying to assist a friend who is trying to pay down about 15k in 2yrs or less.

Credit score is 711( from Cap1Fico).

2 inquiries (10/2013 & 04/2014) in the last 5 years.

AAoA is 6.6 years

Overall util 25-30%

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

Anonymous — Sun, 03 May 2015 02:38:43 GMT

One option is to see if there's a BT offer on an existing credit card. My boss got an offer for a 15 mo. 0% APR balance transfer on her Bank of America card (she's had it for years) and took it to move $18k to 0% off of Citi.

The Chase Slate is one of - if not the - best balance transfer cards there is. 0% APR for 15 months and $0 BT fee if done within first 60 days of opening the account. The $0 fee is key here, as the fee is typically 3% (on $15,000 that's $450.... more debt).

The Slate, from what I've seen, doesn't typically come with huge initial CLs, but high limits aren't unheard of.

P.S. - That Cap1 score isn't a FICO (it's not even close, unfortunately/fortunately), so finding her actual FICO will be more helpful.

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

Scupra — Sun, 03 May 2015 04:08:26 GMT

Barclay may be an option, not sure where her CC debt is held at.. SL is going to be dependent of credit file and income though

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

Anonymous — Sun, 03 May 2015 06:56:28 GMT

Bank of America and Discover have balance transfer offers all the time...

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

Kostya1992 — Sun, 03 May 2015 08:54:48 GMT

Slate just call them and say you want 15 grand, they will counter with a slightly lower number.

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

Anonymous — Sun, 03 May 2015 14:04:39 GMT

@Kostya1992 wrote:
Slate just call them and say you want 15 grand, they will counter with a slightly lower number.

Yeah you'll probably get countered $14,999.00 and you can counter back at $14,999.50 and they should accept

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

chalupaman — Sun, 03 May 2015 14:17:33 GMT

@RandomSpirit wrote:
What is the best balance transfer card (preferably with no transfer fee)?
I am trying to assist a friend who is trying to pay down about 15k in 2yrs or less.
Credit score is 711( from Cap1Fico).
2 inquiries (10/2013 & 04/2014) in the last 5 years.
AAoA is 6.6 years
Overall util 25-30%

Credit unions tend to offer those kinds of cards. Maybe look into one of those.

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

baller4life — Sun, 03 May 2015 14:20:48 GMT

I agree with CUs. Maybe NASA or Penfed.

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

Anonymous — Sun, 03 May 2015 14:21:45 GMT

@Anonymous wrote:
One option is to see if there's a BT offer on an existing credit card. My boss got an offer for a 15 mo. 0% APR balance transfer on her Bank of America card (she's had it for years) and took it to move $18k to 0% off of Citi.

The Chase Slate is one of - if not the - best balance transfer cards there is. 0% APR for 15 months and $0 BT fee if done within first 60 days of opening the account. The $0 fee is key here, as the fee is typically 3% (on $15,000 that's $450.... more debt).

The Slate, from what I've seen, doesn't typically come with huge initial CLs, but high limits aren't unheard of.

P.S. - That Cap1 score isn't a FICO (it's not even close, unfortunately/fortunately), so finding her actual FICO will be more helpful.

+1 to everything jdt said - the good news (maybe) is that cap1 has always been way low for me. it's always 30 or so points below my real fico scores. not sure if it's the same with everyone, but it can differ a lot. i got a barclay nfl card a few months ago, which had 0% for i think 15 months. good because i knew it would hit TU, and i just had hit ex 3 times. also was approved for 5k with a score right around 685, so decent enough SL. got a 100 dollar offer for 500 in spend too.

cap 1 also has the platinum prestige, which is good because you can check their prequal site for a pretty reliable predictor before applying.

also, the sportman's guide visa has 0% as well (12 months i think), but you can't get them without a HP anymore I hear.

those are the one i have experience with, but chase slate, freedom and dicover it are also good ones it seems

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

Mellon — Sun, 03 May 2015 14:32:03 GMT

If they are eligible for NFCU, they would be a great option as they do BT at 0% and no BT fee usually for 12 months

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

Luscher — Sun, 03 May 2015 19:38:18 GMT

SLATE!

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

CreditCuriosity — Sun, 03 May 2015 19:51:03 GMT

Problem with Slate most likely you aren't going to get 15k... I think 15k is the most the slate allows you to BT as well if you were to even get that limit.. I would say the CU route is your friends best bet as well.

Yep my memory is sharp as ever from Chase T&C's on slate.. well memory is doing well today at least.

Balance Transfer Option

Balance transfers are contingent upon issuance of your account with us.
The total amount of your request(s) including fees and interest charges cannot exceed your available credit or $15,000, whichever is lower.

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

taxi818 — Mon, 04 May 2015 00:37:16 GMT

@Anonymous wrote:
One option is to see if there's a BT offer on an existing credit card. My boss got an offer for a 15 mo. 0% APR balance transfer on her Bank of America card (she's had it for years) and took it to move $18k to 0% off of Citi.

The Chase Slate is one of - if not the - best balance transfer cards there is. 0% APR for 15 months and $0 BT fee if done within first 60 days of opening the account. The $0 fee is key here, as the fee is typically 3% (on $15,000 that's $450.... more debt).

The Slate, from what I've seen, doesn't typically come with huge initial CLs, but high limits aren't unheard of.

P.S. - That Cap1 score isn't a FICO (it's not even close, unfortunately/fortunately), so finding her actual FICO will be more helpful.

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

Anonymous — Mon, 04 May 2015 01:51:25 GMT

You'd be much more likely to get a higher credit limit with something like the Citi Simplicity which has a balance transfer fee but also has 0% APR for 21 months. Chase doesn't give much with the Slate. I applied for both not that long ago and ended up getting $3500 CL on the Slate and $9200 CL on the Simplicity.

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

RandomSpirit — Mon, 04 May 2015 01:51:57 GMT

Thanks everyone who responded. This has been very helpful and we willl definitely be exploring your suggestions.

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

Anonymous — Mon, 04 May 2015 02:08:19 GMT

Visa promise from penfed!

Re: Best Balance Transfer card with Highest possible Credit limit on approval?

RandomSpirit — Sun, 14 Jun 2015 00:01:05 GMT

@Falim Citi Simplicity ended up being the best and taking care of the issue. Good starting CL, 0% for 21 months and 14.99 thereafter.

Thanks again everyone!