topic Balance Transfer in Credit Cards

Balance Transfer

Anonymous — Fri, 22 Jan 2016 18:46:19 GMT

Anyone have any sugestions on a card with a good transfer opportunity?

Im looking to completly take my balances off my two Cap One cards which both have an APR right now of 20.00.

AEO Visa-2500

TJX-600

Nordstroms-500

Target-500

Discover-500

Amex Gold- No Limit

Amex Everyday-1000

Cap One Quicksilver Visa- 1750

Quicksilver MC-2000

Utilization:40%

Fico:641 Transunion: 643 Equiax:653

Re: Balance Transfer

Anonymous — Fri, 22 Jan 2016 18:54:08 GMT

At your current scores and utilization percentage you're going to have a tough time getting an approval with a high enough limit to do it.

Re: Balance Transfer

Anonymous — Mon, 29 Feb 2016 18:49:19 GMT

I see this thread is a month old, but it stops me from making a new one. Can someone explain how this balance transferring works? Because I certainly want to rid myself of the two First Premier cards.

Re: Balance Transfer

Mantis350 — Mon, 29 Feb 2016 20:34:18 GMT

@Anonymous wrote:
I see this thread is a month old, but it stops me from making a new one. Can someone explain how this balance transferring works? Because I certainly want to rid myself of the two First Premier cards.

I'm sure there are many threads on here regarding the benefits of BTs. In short, you "transfer" your "balance" from a high interest card (or one that is close to being maxed) onto a card that has an introductory offer of say 12,15 or 18 months no interest. The company/bank of the CC that the balance is going onto will send a wire or check to the CC that is being paid off and it will just look like a payment to them. Usually in order to quality for these cards and intro rates, one must have a fairly decent credit profile with little to no baddies.

Re: Balance Transfer

Anonymous — Tue, 01 Mar 2016 00:15:00 GMT

Well that sounds like a balance transfer is in my near future. Just need to find the card that will do it.

Re: Balance Transfer

Chris679 — Tue, 01 Mar 2016 00:28:06 GMT

And there's the rub...