topic Re: Balance transfer question in Credit Cards

Balance transfer question

lizziebeans — Tue, 18 Dec 2012 17:25:43 GMT

I would like to transfer my credit card balances to a 0% interest card to pay them off. My utilization is about 70%. My total of all my balances is $6370. My fico score is 676. The negatives on my report are 3 60-90 day late payments on credit cards, all in Jan 2011. Is there a card that would approve me?

Thanks for any advice.

Re: Balance transfer question

Creditaddict — Tue, 18 Dec 2012 17:27:58 GMT

@lizziebeans wrote:
I would like to transfer my credit card balances to a 0% interest card to pay them off. My utilization is about 70%. My total of all my balances is $6370. My fico score is 676. The negatives on my report are 3 60-90 day late payments on credit cards, all in Jan 2011. Is there a card that would approve me?

Thanks for any advice.

Lets start with what cards do you have now (Balance and Limit)

What cards did the late pays go on?

Do you have access to Navy Federal Credit Union?

Re: Balance transfer question

lizziebeans — Tue, 18 Dec 2012 17:38:10 GMT

Orchard Bank - $1078.78 balance, $1120 limit

Credit One Bank $480.82 balance, $1200 limit

Merrick Bank $75 balance, $1200 limit

Capital One $1609.34 balance, $2000 limit

Macy's $172.66 balance, $200 limit

Kohl's $0 balance, $400 limit

I do not have access to the Navy Federal Credit Union.

Re: Balance transfer question

Creditaddict — Tue, 18 Dec 2012 18:05:50 GMT

@lizziebeans wrote:
Orchard Bank - $1078.78 balance, $1120 limit
Credit One Bank $480.82 balance, $1200 limit
Merrick Bank $75 balance, $1200 limit
Capital One $1609.34 balance, $2000 limit
Macy's $172.66 balance, $200 limit
Kohl's $0 balance, $400 limit
I do not have access to the Navy Federal Credit Union.

I would apply at Discover and to Citi

but util. and not really having any high limit cards you might find it difficult to get high limit new card and new card in general for high util. but have seen discover be forgiving of util in past and sometimes for what ever reason I have seen a Citi Forward come back instant crazy limit and then other times instant DENIED for what don't seem like good reasons.

nothing to loose at this point with these cards you have to apply for a few if you don't need to go for mortgage soon.

Re: Balance transfer question

DailyDriver — Tue, 18 Dec 2012 19:21:52 GMT

Have you received any pre-approved offers? I know from reading aorund the forums they do not mean much, but it could help. I pulled my annualcreditreport and noticed that Discover and Amex were SPing me a lot. I was also receiving many preapproved offers from each (Discover More Balance transfer offers/Amex Gold, PRG, and Green offers).

I had two Citi cards at the time, both over 80% util. One Citi Forward (had been upgraded from student) and a Citi Dividen World Mastercard. I app'd for the Discover More and received a 5.5k CL. I believe my scores were around 700 (only negative was the high utility). I am currently working on paying down the balances.

I would try to write GW letters to the credit card companies and see if they will remove the lates. If so, I would say you might have a good chance.

Re: Balance transfer question

ObeyJohnny12 — Tue, 18 Dec 2012 19:34:19 GMT

You can try for the Chase Slate. They have 0% apr for 15 months on balance transfers. That can def. help out alot. You can try to see if you are pre qualified on their website too.

Re: Balance transfer question

Creditaddict — Tue, 18 Dec 2012 21:37:36 GMT

@ObeyJohnny12 wrote:
You can try for the Chase Slate. They have 0% apr for 15 months on balance transfers. That can def. help out alot. You can try to see if you are pre qualified on their website too.

This is what my partner just got after it gave him the pre-approval on the new thing they have on website.

This is fantastic because not only is it 0% for 15 months but it's $0/0% BT FEE for first 60 Days after approval!!

Re: Balance transfer question

ObeyJohnny12 — Wed, 19 Dec 2012 02:00:06 GMT

Exactly! Imo it's one of the best cards out there for BT. I applied last month for it and taking advantage of the 0 fee's. It's a great card although it doesn't offer any rewards.