topic Re: Balance Transfer Card Options? in Credit Cards

Balance Transfer Card Options?

Anonymous — Sat, 18 Jul 2020 19:39:15 GMT

My score is going back up as I pay down CC debt but I'd like to get ahead of the game by doing a blaance transfer for the last $9k!

Unfortunately, 1.5 years ago I lost my job and spent 4 months unemployed.. I had a hard time reigning in my spending habits and the CC debt grew and my fico took a hit.

My current FICO scores are EQ-649/TU-668/EX-677 (Equifax shows my Vantage 3.0 @ 607)

Income: $125k/yr

I have paid down $11k in the past 30 days ($4,600 worth of payments that will be reporting before the end of the month)... Looking to apply for a good balance transfer card for at lease $7k. will be applying once the payemts I have made report and my score boosts a little more.

I currently have 13 lines of revolving credit ( 3 cards at ~85% util, 7 at less than 29% util, 3 at 0% util).. and AmEx Plat that I use daily.

Currently, My highest limits are Capital One Venture at $6250 (28% utilized) and my local credit union at $5k limit w/ 3,700 on that.

What CC companies w/ balance transfer promos are generous with limits? I've read about high approval limits with Citi Double Cash

Would it be wise to ask my current cards for CLI? if so, Who do you as or all of them.. I don't want to have 13 hard inquiries at once

Wallet: CL

AmEx Platinum NPSL - HC ~$9,000/Average monthy spending ~ $4400

Cap 1 Venture $6250

Salem VA Credit Union $5000

Cap 1 Platinum $3000

Cap 1 GM Buypower $3000

Chase Slate $2000

Barclay Apple Rewards $2000

CFNA $2000

Amazon $1600

Paypal $1600

Cap 1 Prepaid $750 (my first CC)

Discount Tire: $700

Lowes $200 (not even worth mentioning)

Any advice is helpful!

-Scott

Re: Balance Transfer Card Options?

tcbofade — Sat, 18 Jul 2020 20:00:17 GMT

BT offers are a bit difficult to come by right now... When you're ready, I would check for a prequal on a Discover card.

You can ask Amex for a line increase... that's a soft pull, not an inquiry.

Re: Balance Transfer Card Options?

K-in-Boston — Sat, 18 Jul 2020 20:13:23 GMT

You can ask for CLIs on your CapOne cards, as well as on your Synchonry cards (Amazon, PayPal, Lowe's) without worry of a HP. Whether they'll be granted is questionable, however. Chase and Barclaycard will both be HPs and almost certainly denied.

Any Citi approval is likely to be with a very low starting line, and a decline for any of their cards with a BT offer is probable.

Unless you can bring the balances down (especially the 85% cards) which should raise your scores considerably, your only options for new cards with balance transfer options are likely to be from other credit unions. If you are eligible for NFCU membership, that might be worth a shot.

Edit: tcbofade you're reading too fast. Amex doesn't accept CLI requests on charge cards.

Re: Balance Transfer Card Options?

tcbofade — Sat, 18 Jul 2020 20:28:57 GMT

Doh! Missed that.

...it's my first day...

Re: Balance Transfer Card Options?

Rogue46 — Sat, 18 Jul 2020 20:47:39 GMT

I'm not sure what kind of sl you will get but Discover bt card is pretty good. I've used it twice now and pretty much have the offer all the time to use

Re: Balance Transfer Card Options?

Anonymous — Mon, 20 Jul 2020 14:09:08 GMT

Thanks everyone,

I am going to wait for my payments to cycle and go from there.

Re: Balance Transfer Card Options?

Merc1776 — Tue, 10 Nov 2020 19:33:01 GMT

@K-in-Boston with NFCU BT Plat Card you know the typical starting balance by chance?