topic Re: Best bet for BT card in Credit Cards

Best bet for BT card

Anonymous — Wed, 06 Nov 2019 02:13:16 GMT

I need new cc for approximately 30k BT.

Experian FICO Score 8 = 797
TransUnion = 810
Equifax = 804

Total CL = 98k (CSP 28k, QS 30k)

UTL = 0%

What will be my best bet to get highest possible CL w/ BT 0% intro

Re: Best bet for BT card

Jnbmom — Wed, 06 Nov 2019 02:17:58 GMT

@Anonymous wrote:
I need new cc for approximately 30k BT.
Experian FICO Score 8 = 797
TransUnion = 810
Equifax = 804
Total CL = 98k (CSP 28k, QS 30k)
UTL = 0%
What will be my best bet to get highest possible CL w/ BT 0% intro

If you have 0% utilization what excatly would you be transferring or are you wanting to use BT check for a purchase?

Re: Best bet for BT card

Anonymous — Wed, 06 Nov 2019 02:26:17 GMT

I'll have some business related expenses I'd like pay over time

Re: Best bet for BT card

FinStar — Wed, 06 Nov 2019 02:44:20 GMT

You may want to explore business cards as an option if you already have some sort of established business.

Otherwise, you'd have a bit of a challenge in getting approved for a single card that would cover the entire $30K (without maxing it out, even with your scores/profile). There's CUs like First Tech, for instance but you'd have to join as a member.

Re: Best bet for BT card

FlaDude — Wed, 06 Nov 2019 14:14:16 GMT

Another thing to consider is BT fees, which generally range from 3-5% of the amount transferred. You might have to get more than one card to get 30k. Some cards that have zero transfer fee for new accounts are BOA, Chase Slate, Amex ED, and some credit union cards. Note that Amex limits BTs to 5k.

Re: Best bet for BT card

Aahz — Wed, 06 Nov 2019 22:18:43 GMT

@Anonymous wrote:
I need new cc for approximately 30k BT.
Total CL = 98k (CSP 28k, QS 30k)
What will be my best bet to get highest possible CL w/ BT 0% intro

Your best bet (probably only chance to get the limit you need) would be:

- Apply for Chase Slate

- When you receive the card move the bulk of your CSP limit to the Chase

- 14 days after approval do a $15k BT

- 46 days after approval do a second $15k BT

- After BT is paid you can move some of the limit back to CSP

The timing is important because Chase only allows $15k in BTs per 30 days. But you can consider it a ~$900 Sign-up Bonus since there's no BT Fee.

Also, expect your FICO scores to drop down to the 750 range.

Re: Best bet for BT card

Anonymous — Thu, 07 Nov 2019 02:23:24 GMT

BT fee is really not an issue because using QS or CSP I'll get 1-1.5-2% cash back.

Even good business CC won't give me 15 - 18 months 0% APR.

I have only one HP

So, the question is what bank I should start with to get my best chance for high CL (my CSP was approve @19k and increased to 28k 3 months later)?

Re: Best bet for BT card

Aahz — Thu, 07 Nov 2019 02:38:31 GMT

@Anonymous wrote:
BT fee is really not an issue because using QS or CSP I'll get 1-1.5-2% cash back.

Spending $30k on QS will net you $450 in rewards. BT fees range from 3% ($900) to 5% ($1,500).

So, following my plan above you'll still save $450 to $1050. To me, that's a pretty significant difference.

Most cards limit BTs to 90% of credit line, so you'll actually need a $33,000+ approval to transfer the entire $30k.

That's extremely unlikely to happen with any new app.

Re: Best bet for BT card

SouthJamaica — Thu, 07 Nov 2019 02:55:07 GMT

@Anonymous wrote:
I need new cc for approximately 30k BT.
Experian FICO Score 8 = 797
TransUnion = 810
Equifax = 804
Total CL = 98k (CSP 28k, QS 30k)
UTL = 0%
What will be my best bet to get highest possible CL w/ BT 0% intro

You might be able to get a 30k card, but then you would wind up with 100% utilization, tanking your scores for awhile.

Re: Best bet for BT card

HeavenOhio — Thu, 07 Nov 2019 06:25:33 GMT

Welcome, @Anonymous.

I like the business card idea. And I like the Chase Slate idea. I think you should get both a business and a personal card.

You haven't mentioned your income, but note that Chase puts a lid on total credit limits when they reach something like 50 or 60% (or so) of one's income.

Re: Best bet for BT card

SoCalifornia — Fri, 08 Nov 2019 00:01:13 GMT

As others say, the optimal bet, would include at least two new cards- in which case, definitely not avoiding a double pull. And if Slate is in consideration, where do you fall in with 5/24? So, two new cards, at least a double pull and near-max UTI on said new cards- a lot to consider tanking your score when you currently have low to 0% UTI.

Re: Best bet for BT card

Anonymous — Thu, 07 Nov 2019 23:44:42 GMT

I have, at this moment, only one HP and 1/24 on my files.

30k it is a goal but I'll manage lower CL, if I have to

I've narrowed my choices:

Discover it®

0% on Purchases for 6 months and 0% on Balance Transfers for 18 months

BankAmericard® credit card

0% on Purchases for 18 billing cycles and 0% on Balance Transfers for 18 billing cycles for balance transfers made in the first 60 days

HSBC Gold Mastercard

0% Introductory APR on credit card purchases and balance transfers for the first 18 months from account opening.

0%* on purchases and balance transfers for 18 billing cycles*

Citibank Simplicity Credit Card

0% on Purchases for 12 months and 0% on Balance Transfers for 21 months

Chase Slate

But my CL with Chase is 12k from reaching 50% of my income

So, in your expert opinion, where should I start to get best chances for highest CL? What will be #2?

I don't have cards from banks listed above (except Chase that is)

Re: Best bet for BT card

kudosalert — Fri, 08 Nov 2019 02:30:21 GMT

i've been looking at the citi cards as well. they have 3 BT card offers

Citi Rewards (15 months) and Citi Double Cash (18 months)

The Citi Simplicity gives you 21 months but it's also 5% fee vs 3% on the previous two cards.