topic Re: What is the maximum percentage of credit limit for a PenFed balance transfer? in Credit Cards

What is the maximum percentage of credit limit for a PenFed balance transfer?

Anonymous — Mon, 24 Apr 2017 22:45:40 GMT

My PenFed Promise card has a credit limit of $7,500. I am moving soon and will be making a lot of large purchases. I am planning on using other cards to get the rewards points, but will then transfer to the promise to get the 4.99% promotional balance transfer APR.

Does PenFed have a maximum percentage of credit limit that you can transfer over?

Re: What is the maximum percentage of credit limit for a PenFed balance transfer?

K-in-Boston — Mon, 24 Apr 2017 22:50:25 GMT

No limit that I am aware of, just don't forget that interest will begin accruing immediately so make sure that you have left enough room to not go over your credit limit on your next statement.

Re: What is the maximum percentage of credit limit for a PenFed balance transfer?

Anonymous — Mon, 24 Apr 2017 22:55:11 GMT

I should be good.

4.99% interest on $7,000 would be about $29, so hopefully there is no maximum transfer amount!

Re: What is the maximum percentage of credit limit for a PenFed balance transfer?

bettercreditguy1 — Tue, 25 Apr 2017 10:28:28 GMT

Be sure to read 'how interest charges are figured" It may not be simple interest compounding.

Re: What is the maximum percentage of credit limit for a PenFed balance transfer?

HeavenOhio — Tue, 25 Apr 2017 10:37:03 GMT

Do a google search for credit card interest calculators and find one that you're comfortable working with.

Re: What is the maximum percentage of credit limit for a PenFed balance transfer?

elim — Tue, 25 Apr 2017 11:07:46 GMT

@HeavenOhio wrote:
Do a google search for credit card interest calculators and find one that you're comfortable working with.

The best way is to have a calculator built in to a section of your spreadsheet... Mine defaults to the promo APR if one is listed (AMEX and CITI offer me low APR's at times for 6 months, as well as any intro APR's).

The first listed is an auto loan (84% left to pay), the rest are revolvers.

Limit	Available	Util	balance	rate	promo	month fee
$16,792	$2,627	84%	$14,165	2.99%		$35.29
$29,000	$24,700	15%	$4,300	13.15%	0.00%	$0.00
$7,600	$6,900	9%	$700	17.00%		$9.91
$14,100	$14,100			16.24%		$0.00
$13,000	$13,000			16.24%		$0.00
$5,500	$5,100	7%	$400	8.25%		$2.75
$9,000	$9,000			18.00%	6.99%	$0.00
$17,000	$16,800	1%	$200	25.00%	0.00%	$0.00
$10,000	$8,700	13%	$1,300	25.00%	0.00%	$0.00
$6,400	$6,400			25.00%		$0.00
$5,500	$4,500	18%	$1,000	17.00%	1.99%	$1.66
$11,000	$11,000			14.00%		$0.00
$10,000	$10,000			13.24%		$0.00
$10,000	$10,000			15.24%	0.00%	$0.00