topic Re: Anyone approved for a balance transfer with 60 % balance ? in Credit Cards

Anyone approved for a balance transfer with 60 % balance ?

ShiningDown — Fri, 04 Nov 2011 13:59:36 GMT

IM wondering what balances a lender will accept for a balance transfer. Im sure 30 % is good but has anyone been approved with 60 % balance on all cards total. My credit report will be clean by next month.

Re: Anyone approved for a balance transfer with 60 % balance ?

Anonymous — Fri, 04 Nov 2011 14:35:46 GMT

If you are asking whether you can transfer 60% of a card's limit then I'd say yes it won't be an issue. The card issuer states you can transfer up to your limit.

Re: Anyone approved for a balance transfer with 60 % balance ?

Anonymous — Fri, 04 Nov 2011 16:24:43 GMT

I believe the OP is asking about a 60% utilization on existing accounts. If that is the case, then that is a huge negative that you are going to need to overcome with most prime lenders. I can only imagine that it is having a drag down effect on your credit scores. Depending on the rest of your credit profile (negatives, age, etc.) you might be able to overcome the utilization in either an initial approval or a recon. But if there are other negatives I believe most prime CC companies Magic 8 Ball's would say "Not at this time".

Re: Anyone approved for a balance transfer with 60 % balance ?

tcbofade — Fri, 04 Nov 2011 17:29:58 GMT

I'm in a similiar situation...64% utilization and NO baddies...

..and no 0% offers will approve me.

If you find one that will approve you, please let us all know.

Re: Anyone approved for a balance transfer with 60 % balance ?

birjest — Fri, 04 Nov 2011 18:04:13 GMT

Mee....I have an utilization of 75% on my Dell Preferred. I was approved for the Discover More 0% for 15months transfer and xfer my Dell (have no use for it now, family all have Dells) and will be paying off the balance before the 15 months is up. If it going to hurt me? Maybe, but paying 0% vice 25.99% is a better deal for me. From what I see here in the forums, it was the best course of action.

Re: Anyone approved for a balance transfer with 60 % balance ?

tcbofade — Fri, 04 Nov 2011 18:07:40 GMT

You bring up an interesting point...I wonder of the number of open accounts is a factor?

I've got lots and lots of open trade lines...some are maxed, some are at zero...my TOTAL utilization is around 64%, and various prime cards just said "No".

(Although, I too recently opened a Dell account and am doing the 12 month zero interest deal...)

Re: Anyone approved for a balance transfer with 60 % balance ?

birjest — Fri, 04 Nov 2011 18:24:10 GMT

Almost forgot, I also haveCiti Plat Selece M/C

No annual fee 0% Intro APR on balance transfers and purchases for 21 months; after that the variable APR will be 11.99%-21.99%,

Re: Anyone approved for a balance transfer with 60 % balance ?

Anonymous — Fri, 04 Nov 2011 18:51:33 GMT

I've never done a BT, and I apparently don't understand how they work. Why couldn't you just do multiple BTs (1 at a time) until all of your balances are transfered? That way you wouldn't have to get approved for the entire 60% all at once.

Re: Anyone approved for a balance transfer with 60 % balance ?

Walt_K — Fri, 09 Dec 2011 05:49:40 GMT

@Anonymous wrote:
I've never done a BT, and I apparently don't understand how they work. Why couldn't you just do multiple BTs (1 at a time) until all of your balances are transfered? That way you wouldn't have to get approved for the entire 60% all at once.

I'm guessing OP isn't getting approved for the card with the 0% offer. Not an issue of not being approved for a high enough CL, just not getting approved at all due to utilization.

Re: Anyone approved for a balance transfer with 60 % balance ?

ShiningDown — Sat, 10 Dec 2011 17:19:29 GMT

I was approved for a us platinum card from US BANK with 12 months 0 apr on balance transfers, limit 1,000 after that 17.99% Nov 22

I was also approved for a citi diamond preferred card with 21 months 0 apr on balance transfers. Limit 1,500 after that around 21.99% Nov 23

and a discover more card with 1,000 and 3.99% balance transfer for 6 months with 21 or 23 % after 6 months. Dec 9th