topic Re: Balance Transfer Strategy in Credit Cards

Balance Transfer Strategy

TenaciousRebuilder — Mon, 06 Jul 2026 19:09:03 GMT

I have a little over $20k in credit card balances that i want to move to a 0% balance tranfer card. I have an existing relationship with BoFa so i think that's my best option.... i want to maximize my credit limit so i'm trying to strategize and would like some advice.

Which option is better.

1) just apply for a BoFa Americard BT card. i might be able to get some CLI's in on this card but the clock will start ticking immediately for the 0% interest.

2) start with some other BoFa card, maybe wait 6 months so i can get a couple of CLI's in and THEN change the card with the full limit to a new BT card. i have to wait and pay higher interested until i open the BT card but i will be able to transfer a higher amount to start with and still maybe get some CLI's in.

Re: Balance Transfer Strategy

FicoMike0 — Mon, 06 Jul 2026 20:07:01 GMT

Wow, that's a lot of CC debt! $600 a month in interest?

You don't give any details, what makes you think you will get a credit limit that high?

Id be looking for a reasonable rate loan to carry the debt, while shopping for 0% bt. Then transfer however much you can to 0%, but be prepared for that to be less than $20000.

If also put those cards in the sock drawer and work hard to retire the debt.

Re: Balance Transfer Strategy

Kforce — Mon, 06 Jul 2026 23:16:34 GMT

As @FicoMike0 said ; "You don't give any details"

We need a lot more information to help.

With an average APR of 25%, today's "Google search" average,

interest loss would be ~$400/month.

$600/month would require average APR's of 36%.

Not that $400 is a small amount, just not likely to be $600.

Agree 100%, stop using the card's and put maximum effort on paying them down.

Re: Balance Transfer Strategy

SusanJA — Mon, 06 Jul 2026 23:47:43 GMT

I'd go with 1. You're not guaranteed to get 0% the whole time with 2.

Re: Balance Transfer Strategy

FicoMike0 — Tue, 07 Jul 2026 02:44:00 GMT

I just got a new card, usb go. They're offering 0% bt through Oct '27, With a 5% fee, so not really 0%. They went $5000 cl for me.

The usb shield card is offering 0% (really 5%) for 21 months.

The best bt deal I see out there is 0.99%, no fee, for 12 months,

https://www.navyfederal.org/loans-cards/credit-cards/platinum-alt.html

Navy tends to go big on cl, too.

Re: Balance Transfer Strategy

FicoMike0 — Tue, 07 Jul 2026 02:59:24 GMT

Amex goes high on cl. They offer 0% for 15 months in bce,

https://www.americanexpress.com/us/credit-cards/category/zero-percent-intro-apr/?eep=25330&intlink=US-Axp-Shop-Consumer-PDP-BCE-Prospect-zero-percent-intro-apr-BrowseCategoryTile&linknav=creditintel-contextual-cardshop

I don't know what the bt fee is, but they have one.

Re: Balance Transfer Strategy

crystal626 — Tue, 07 Jul 2026 14:29:23 GMT

@FicoMike0 wrote:
Amex goes high on cl. They offer 0% for 15 months in bce,
https://www.americanexpress.com/us/credit-cards/category/zero-percent-intro-apr/?eep=25330&intlink=US-Axp-Shop-Consumer-PDP-BCE-Prospect-zero-percent-intro-apr-BrowseCategoryTile&linknav=creditintel-contextual-cardshop
I don't know what the bt fee is, but they have one.

3% fee with AMEX.

Re: Balance Transfer Strategy

portlandmusician — Fri, 10 Jul 2026 01:05:32 GMT

@TenaciousRebuilder I'd probably go with Option 1. The biggest variable isn't whether you start with an Americard or another BofA card—it's what credit limit BofA is willing to extend based on your profile today.

A couple of things to keep in mind:

A product change generally does not create a new 0% introductory balance transfer offer. Those offers are almost always tied to opening a brand-new account. If your plan is to open a different BofA card now and convert it later, I'd verify with BofA that you'd actually be eligible for the promo, because in most cases you won't be.
Waiting six months means you're continuing to pay your current interest rates during that time. Unless you're reasonably confident you'll get significantly higher CLIs, the interest you pay while waiting could easily outweigh the benefit of a larger transfer later.
If your profile supports it, you could also consider applying for more than one BT card (whether with BofA or another issuer) to cover the full $20k, assuming the balance transfer fees and promo periods make sense.

It would help to know your current scores, income, existing BofA exposure, utilization, and what cards the balances are currently on. That'll give everyone here a better idea of what kind of limit you might realistically expect, and they can give you more sound/concrete advice.