topic Balance Transfer Cards in Credit Cards

Balance Transfer Cards

breakdown1987 — Wed, 10 Jun 2020 04:48:18 GMT

Hello,

Can anyone provide any insight on what balance transfer cards are available?

I'm currently trying to BT $10-14k from a Discover Card to pay off over the next 12 months.

Current income is 100k. Credit Score 755.

Current Cards - Discover 14,000/18,000 and American Express 0/40,000.

Thank you!

Re: Balance Transfer Cards

AverageJoesCredit — Wed, 10 Jun 2020 11:22:22 GMT

Bt cards are hard to come by nowadays. Any chance you qualify for Navy Federal where they have $0 transfer fee. Credit Unions are good options. If you cant find a bt card with high enough limit , might need to try for a personal loan. Please add your current scores, aaoa, hps, etc. People will blindly offer advice on no dp on ones credit. Always best to share when asking for advice. thanks

Eta- saw a score but please all 3 ficos

Re: Balance Transfer Cards

vic6string — Wed, 10 Jun 2020 13:08:24 GMT

The BB&T Bright card is a nice balance transfer card, and the best thing is they are one of the only ones left that actually still offer a pre-qualify tool on their website. Also, if you get the card from the pre-qualify site, there is no hard pull. I recently got their cash back card with a lower score than you, and a BK still showing on my report (older than 5 years, but still visible) and was given 7500.

Re: Balance Transfer Cards

Anonymous — Wed, 10 Jun 2020 19:01:18 GMT

I'm going to second what AJC said - try a local CU. My card with one of them is at a lower rate than ANY personal loan i've had, period. and BTs are free.

I'd BT from my personal loan to that card, but that jacks up my revolving utilization too much...

A personal loan might be the best bet.

Re: Balance Transfer Cards

dlister70 — Wed, 10 Jun 2020 19:04:07 GMT

AMEX Everyday and Bank of America Americard are the two zero fee cards that I've balance transferred with. I was going to try for a Chase Slate, but I'm over 5/24 and I've even heard that they're not issuing those cards anymore.

Those are the three zero fee transfer cards that I've heard of.

Re: Balance Transfer Cards

AverageJoesCredit — Wed, 10 Jun 2020 21:54:02 GMT

@dlister70 wrote:
AMEX Everyday and Bank of America Americard are the two zero fee cards that I've balance transferred with. I was going to try for a Chase Slate, but I'm over 5/24 and I've even heard that they're not issuing those cards anymore.

Those are the three zero fee transfer cards that I've heard of.

Problem is starting limit. Amex supposedly only allows bts up to 5k. Op only has two cards so might be possible to get 2 bt cards.

Re: Balance Transfer Cards

breakdown1987 — Fri, 12 Jun 2020 02:02:57 GMT

Thanks for all the replies.

My average score is 755 - no lates, AAoA 7.5 years, income 100k. Only two CC's, Discover/American Express.

Checked local CU including my current bank and no current offers. Also, not able to BT to AmericanExpress as they don't have any offerings to my current card. Going to look into BB&T and also Americard for now. Even if I don't get the full amount at least it will be something to offset some of the interest. Any other suggestions?

Re: Balance Transfer Cards

Anonymous — Fri, 12 Jun 2020 16:51:57 GMT

I agree it's alwasy going to be iffy in regards to your SL being enough to work with. As some have already mentioned you might do better with a CU, because witht ehm you can request what you want teh SL to be and go from there. With cold apping online you have to call to recon if you do not get a SL large enough to work with.

That said, right now Citi is offering 21 month BT's on the Diamond preferred and the Simplicity. A Family menmber who's profile mainly consists of AU accounts with 714 Fico was only approved for $1,500. Which is pretty close to what i was approve for 3 years ago with a slighlty higher score at 740 and a thicker profile. So who knows. lol

It is a bummer Amex only allows $5K transfers, but I can see them wanting to limit risk. Especially of non swiped debt.

Re: Balance Transfer Cards

FlaDude — Fri, 12 Jun 2020 17:11:19 GMT

@AverageJoesCredit wrote:
@dlister70 wrote:
AMEX Everyday and Bank of America Americard are the two zero fee cards that I've balance transferred with. I was going to try for a Chase Slate, but I'm over 5/24 and I've even heard that they're not issuing those cards anymore.

Those are the three zero fee transfer cards that I've heard of.
Problem is starting limit. Amex supposedly only allows bts up to 5k. Op only has two cards so might be possible to get 2 bt cards.

My personal experience is that Amex only allows 5k of BT no matter the CL, this was confirmed with a phone rep. @dlister70 identified the three major zero fee BT cards that I am familiar with, although some CUs offer them too. Beyond that expect 3-5% BT fees on most other cards. If you don't think you can PIF before the intro period ends, you might want to consider a loan. I got 2 loans at 6% (10k each) and one at 7 (20k) when my scores were similar to the OP.

Re: Balance Transfer Cards

Anonymous — Tue, 16 Jun 2020 19:46:06 GMT

Hmm, from the AMEX site it looks like the Everyday card no longer mentions anything about balance transfers, neither 0% APR nor zero fee period. Is this yet another casualty of the BT card scourge?

Would this mean that there are now no card offering a zero fee balance transfer period?

Re: Balance Transfer Cards

FlaDude — Tue, 16 Jun 2020 20:14:58 GMT

@Anonymous wrote:
Hmm, from the AMEX site it looks like the Everyday card no longer mentions anything about balance transfers, neither 0% APR nor zero fee period. Is this yet another casualty of the BT card scourge?

Would this mean that there are now no card offering a zero fee balance transfer period?

I still see 0% APR:

but drilling down to the T&C I don't see the zero BT fee language any more. Note that the intro APR is valid for 60 days from account opening, if you already have the ED you can't count on 0% APR.

BOA seems to have a similar offer on the Cash Rewards card. With both of these cards having a 3% BT fee and Chase Slate no longer open to new customers, zero fee cards might be scarce. I also checked my CU, they are still offering 0% interest, but I don't see the 0 BT fee that they were offering last year.

Re: Balance Transfer Cards

Anonymous — Tue, 16 Jun 2020 21:16:04 GMT

@FlaDude wrote:
@Anonymous wrote:
Hmm, from the AMEX site it looks like the Everyday card no longer mentions anything about balance transfers, neither 0% APR nor zero fee period. Is this yet another casualty of the BT card scourge?

Would this mean that there are now no card offering a zero fee balance transfer period?
I still see 0% APR:
but drilling down to the T&C I don't see the zero BT fee language any more. Note that the intro APR is valid for 60 days from account opening, if you already have the ED you can't count on 0% APR.

BOA seems to have a similar offer on the Cash Rewards card. With both of these cards having a 3% BT fee and Chase Slate no longer open to new customers, zero fee cards might be scarce. I also checked my CU, they are still offering 0% interest, but I don't see the 0 BT fee that they were offering last year.

I'm not seeing the BT part, just purchases

Re: Balance Transfer Cards

breakdown1987 — Wed, 17 Jun 2020 05:14:17 GMT

Ended up going with my local CU. I must have glanced over it but saw it when I was checking again.

Was able to get a 10k limit, 7.5% with no BT fee. I'll just lump sum the 4k difference at the end of the month and work on the remainder.

Re: Balance Transfer Cards

AllZero — Wed, 17 Jun 2020 05:23:10 GMT

@breakdown1987 wrote:
Ended up going with my local CU. I must have glanced over it but saw it when I was checking again.

Was able to get a 10k limit, 7.5% with no BT fee. I'll just lump sum the 4k difference at the end of the month and work on the remainder.

Congratulations on your approval!

Re: Balance Transfer Cards

CYBERSAM — Wed, 17 Jun 2020 05:26:36 GMT

Congrats! Great job

Re: Balance Transfer Cards

Merc1776 — Tue, 10 Nov 2020 15:39:32 GMT

Vic6string

Wanted to confirm that if you use the "pre qual" tool it is a soft pull for their BT card? And is there actually is no Hard Pull there after in getting that BT type of card from them? Never heard of being able to get any CC without actually having a HP. If that is the case are there other banks that operate the same way? Thank you in advance