topic Re: BT Question in Credit Cards

BT Question

phumanr — Tue, 01 Jan 2008 20:15:47 GMT

All,

I have received transfer checks from WaMu for 1.99% until August. I have a $2,500 CL ($597 outstanding) on this card and would like to transfer $1,500 from Hooters (16.49%). This will bring this card to almost maxed out, although my total utilitzation on all of my cards is at 8%.

Will this drop my score because of almost maxing out one card?

Phumanr

Re: BT Question

Anonymous — Tue, 01 Jan 2008 20:24:26 GMT

I say if you can dont go over 50% on any 1 account.

I an overall UTL of 3% with one card at 30% and it cost me 11 points.

Re: BT Question

Anonymous — Tue, 01 Jan 2008 20:34:01 GMT

I got the same thing phumar but my offer was for 5.99 for the transers--I was thinking about considering it as well but my account has a CL for 2000 and my balance currently 700 ---have had zero percent interest on the card so it carries the highest balance....but it this offer will really hurt my scores I think what sounds like a good idea may have to be washed away--i dont think i want to take the risk on my scores but it would allow some of my other cards to report 0 balances!!!!

I guess this is never a good idea unless you have a much higher credit limit or its a new card with a zero balance that can afford a balance to be added to it

Re: BT Question

Anonymous — Tue, 01 Jan 2008 20:40:58 GMT

AWLEGZ wrote:
I got the same thing phumar but my offer was for 5.99 for the transers--I was thinking about considering it as well but my account has a CL for 2000 and my balance currently 700 ---have had zero percent interest on the card so it carries the highest balance....but it this offer will really hurt my scores I think what sounds like a good idea may have to be washed away--i dont think i want to take the risk on my scores but it would allow some of my other cards to report 0 balances!!!!

I guess this is never a good idea unless you have a much higher credit limit or its a new card with a zero balance that can afford a balance to be added to it

STBDW got the same checks yesterday for her WaMu card. 1.99% through August.

Don't forget to read the fine print on these. If they're the same as the ones we received there is a 3% fee, and they are not BT checks strictly speaking, but cash advances. That means if the balance isn't paid off by August, the balance will revert to the cash advance APR.

Re: BT Question

Anonymous — Tue, 01 Jan 2008 20:44:46 GMT

Timothy wrote:
I say if you can dont go over 50% on any 1 account.

I an overall UTL of 3% with one card at 30% and it cost me 11 points.

Ditto. With 3% overall, one card at 49% cost me 11 points, as well.

Re: BT Question

Anonymous — Tue, 01 Jan 2008 20:47:24 GMT

Sounds like we are in the same bucket then-

cheddar wrote:

Timothy wrote:

I say if you can dont go over 50% on any 1 account.

I an overall UTL of 3% with one card at 30% and it cost me 11 points.

Ditto. With 3% overall, one card at 49% cost me 11 points, as well.