topic Re: Using BT offer doesn't hard pull right in Credit Cards

Using BT offer doesn't hard pull right

Bman70 — Sat, 16 May 2015 21:06:29 GMT

BofA sent me some checks for 0% balance transfer until 5/2016. I called to use one, and was offered 0% until 12/2016 if I did it right then. So I did. He would have informed me if that required a credit check right?

Re: Using BT offer doesn't hard pull right

Involver — Sat, 16 May 2015 21:09:19 GMT

It will not result in a credit pull.

Re: Using BT offer doesn't hard pull right

Anonymous — Sat, 16 May 2015 21:32:00 GMT

@Bman70 wrote:

BofA sent me some checks for 0% balance transfer until 5/2016. I called to use one, and was offered 0% until 12/2016 if I did it right then. So I did. He would have informed me if that required a credit check right?

Balance Transfers do not results in hardpulls... So you have nothing to worry about..

Re: Using BT offer doesn't hard pull right

NRB525 — Sat, 16 May 2015 22:49:51 GMT

Correct, no HP.

Now, for the up-front BT fee, you get 0% interest for, what, 18 months, and you have a basis for making your "more than minimum payments" each quarter to get your $25 bonus paid out.

Well played!

Re: Using BT offer doesn't hard pull right

JSS3 — Sat, 16 May 2015 22:58:06 GMT

Funny story.

I few days ago, I asked for a lower APR in Cap1 chat. They lowered it to 15% for 6 months. I then did a BT transfer to float a balance for a month at the same time. A few minutes later, I get an alert from Experian about a "new application". Cap1 pulled my report. Said it was a personal info/identity report.

First time that happened. Don't know which action caused it.

Re: Using BT offer doesn't hard pull right

NRB525 — Sat, 16 May 2015 23:04:31 GMT

@JSS3 wrote:
Funny story.

I few days ago, I asked for a lower APR in Cap1 chat. They lowered it to 15% for 6 months. I then did a BT transfer to float a balance for a month at the same time. A few minutes later, I get an alert from Experian about a "new application". Cap1 pulled my report. Said it was a personal info/identity report.

First time that happened. Don't know which action caused it.

That is strange. I've never experienced any HP on BT, and I've done a lot of them. The temporary APR reduction also doesn't seem like it is worth a HP, seems like the bank would know it is temporary.

And this is a HP, correct?

Re: Using BT offer doesn't hard pull right

JSS3 — Sat, 16 May 2015 23:07:46 GMT

It WASN'T a hard pull. Just an alert titled, "new application"

Cap1 softed me and I got an alert about it.

Re: Using BT offer doesn't hard pull right

Bman70 — Sun, 17 May 2015 02:08:21 GMT

@NRB525 wrote:
Correct, no HP.

Now, for the up-front BT fee, you get 0% interest for, what, 18 months, and you have a basis for making your "more than minimum payments" each quarter to get your $25 bonus paid out.

Well played!

That was the idea, the rep said only $1 more than minimum would qualify for the bonus. So with the rewards effectively covering the BT fee, 18 months is pretty sweet.

I was a little thrown when he offered to open a new account by moving some of my current CL.. Called it a "companion card" to my current account. Wait, what? I said no right away just hope he wasn't sniffing around with any HPs while offering all this.