topic Re: Balance transfer card for high utilization? in Credit Cards

Balance transfer card for high utilization?

benitosolo04 — Sat, 30 Nov 2013 02:12:44 GMT

Any help would be great looking for a balance transfer card with a 0% apr... might be asking a lot here ha

660 fico... and high balances...

Thanks in advance for any help.... i was looking at discover IT but have seen a lot of people get denied for that one...

Re: Balance transfer card for high utilization?

myjourney — Sat, 30 Nov 2013 02:35:50 GMT

Chase Slate but may have to recon the limit depending on how much you need

Re: Balance transfer card for high utilization?

Meltdownblitz — Sat, 30 Nov 2013 02:38:39 GMT

I agree with myjourney, chase slate, if denied call for recon and let them know you are trying to pay down balances and want to use card for a BT.

Re: Balance transfer card for high utilization?

FinStar — Sat, 30 Nov 2013 06:14:42 GMT

The downside with high utilization (assuming across the board on your CCs) that getting another CC may actually not happen as expected. Lenders are typically hesitant to extend any additional credit when your other TLs display a high proportion of balances.

Re: Balance transfer card for high utilization?

Anonymous — Sat, 30 Nov 2013 07:07:33 GMT

What is your current util?

Re: Balance transfer card for high utilization?

Anonymous — Sat, 30 Nov 2013 08:50:50 GMT

+1 to finstar said.

You can also check out citi simplicity. It comes with 18-21 months 0% apr, which is a tad longer than chase slate, but there is a 3% BT fee.

Re: Balance transfer card for high utilization?

DaylightSlaving — Sat, 30 Nov 2013 13:51:28 GMT

Slate from Chase was specifically offered as a balance transfer card if I remember correctly. Though, honestly, if you feel confident enough to try, I'd definitely lean towards the Discover It.

Awesome balance transfer option, awesome customer service, and discover is pretty rad when it comes to CLIs (in my experience at least).

Plus, the It card has rewards. So, once you paid that puppy down, you'd actually have a use for it (unless you get a wicked low APR on the slate; but still).

I'm not sure what your credit report looks like exactly, but I was approved for one with the same ballpark fico.

Re: Balance transfer card for high utilization?

takeshi74 — Sat, 30 Nov 2013 14:26:08 GMT

@FinStar wrote:
The downside with high utilization (assuming across the board on your CCs) that getting another CC may actually not happen as expected. Lenders are typically hesitant to extend any additional credit when your other TLs display a high proportion of balances.

+1. Chase would only give me $2K on a Slate with the highest APR in the bracket with high utilization. Once I dropped my utilization (no other changes aside from several months time) I was getting much higher limits with the best interest rates for cards with brackets. High utilization can be severely limiting.