topic Re: Balance Transfer CLI in Credit Cards

Balance Transfer CLI

Anonymous — Tue, 11 Jun 2019 03:52:48 GMT

I read in a recent thread that someone did a balance transfer to another card and the the bank recieveing the incoming BT increased his CL. I may have misinterpreted the statement, but it got me thinking. I've searched/read through about 100 threads and havent been able to get the answer I was looking for. I feel like I know the answer (which is more than likely, no) but i thought I would get some more experianced insight on the issue. I will admit in advance that I haven't done a lot of research on BT's; mainly due to BT's not fittting into my overall credit strategy. Just curious if this is a thing. I know that BT's are to take advantage of 0% intro apr rates, but want to know if you can "get an advantage" by using them. So my questions are:

Is it possible to BT a balance to a card with a lower limit and "force" a CLI?

ie. xfer 3k balance from Chase Unlimited to a Citi DC that has a 500 CL

If it is possible, what would be the best way to go about it? Secured message or call csr?

Re: Balance Transfer CLI

NRB525 — Tue, 11 Jun 2019 05:07:56 GMT

If your question is: Can you request a BT of $1,500 onto a card with a $500 CL, no.

It might turn out that the bank looks at your $450 BT onto the $500 card and decides to give you a CLI, but I would not pay a BT fee for the ( unlikely ) prospect of the CLI lottery scoring an increase.

On larger balances, some banks like Barclays are much more likely to CLD you immediately, a decidedly less favorable outcome than CLI.

Re: Balance Transfer CLI

UncleB — Tue, 11 Jun 2019 09:16:49 GMT

I can also contribute that some banks don't 'count' balance transfers as usage for the purpose of qualifying for CLIs.

Capital One falls into this camp; you can max out your entire credit line with a BT and pay it off, and you'll still get declined for a CLI with the reason (paraphrased) 'Not using enough of existing credit line'. They want swipes.

Re: Balance Transfer CLI

Anonymous — Tue, 11 Jun 2019 13:17:49 GMT

I dont recall seeing the post but wanted to add in some points.

1 year ago with my PNC card, I did a balance transfer putting me into 95% maxed out territory.

Of course with credit knowledge, I paid it to under 88% before statement cut, as to not have it report maxed.

Now, PNC does hp to CLI so I never waste any hp for CLI ever, but before I made that payment,

they auto CLI me from $10.2k to $11.6k to actually get me under the 88%.

At the time I had thought, wow that is amazing because I had the card 2.5yrs at that point with no CLI

But needless to say, almost exactly 6 months later they auto CLI me again.

SO not sure on anything, but my best guess is that it was a perfect timing thing and perhaps

the same on the other thread you had previously read. But anything is possible.

also to add.... yes not the best idea to pay a BT fee and also risk monies needed elseware to pay before 0% BT ends.

Not worth it just to have the slightest chance or none at all for an auto CLI

probably more rare than AJC getting a penfed offer other than turbo tax