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Help with strategy for App Spree?!

Frequent Contributor

Re: Help with strategy for App Spree?!

I would maybe look at some cards that dont charge a transfer balance fee or a personal loan that way uyou dont have to worry about the utilization.

Chase Freedom Unlimited (1/2022): $1500 | Discover It Chrome (5/2022): $2000 | AmEx Charles Schwab Investor Card (5/2022): $6000 | Chase Sapphire Preferred (6/2022): $5000 | Chase Amazon Prime Rewards (7/2022): $500
Total Credit Limit : $15000
As of 4/2022: Experian FICO 8 : 659 | Experian Vantage : 677 | Equifax FICO 8 : 622 | MyEquifax : 630 | TransUnion FICO 8 : 629 | TransUnion Vantage : 677
Starting Score: 512
Current Score: 659
Goal Score: 670+

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Message 11 of 13
Frequent Contributor

Re: Help with strategy for App Spree?!

I concur with above posters, it sounds like a personal loan would be ideal for your situation.  With your scores, income, and low DTI thanks to paying off your mortgage (congrats!) and having no other installment debt, you would likely qualify for a favorable interest rate and a loan that would nearly (if not entirely) pay off the CC debt that you are intending to transfer.  Putting that balance into an installment loan relieves your revolving portfolio of carrying that load long-term, which will be much better for your credit profile over time.  And if you aren't able to land a large enough loan to cover the full balance, then I'd recommend a BT card or two to clean up the leftovers.

CH7 Filed Dec 31, 2018; DC Apr 9, 2019
FICO 8 at DC (Apr 15, 2019):
FICO 8 current (June 29, 2022):
Total revolving credit limit: $149,150 Utilization: 9% Inquiries:

Who I've burnt: Amex / Discover / Chase / Wells Fargo / CapOne / Barclays / Citi / DSNB / US Bank / NASA FCU / Apple FCU / Synch / Comenity
Who let me back in: CapOne / Citi (Retail) / DSNB / Synchrony / Comenity
Message 12 of 13
Mega Contributor

Re: Help with strategy for App Spree?!

@JMCB wrote:

I'm wanting to apply for (4) credit cards & (2) Hard pull CLI so I can balance transfer about $55k in debt out of $177k in CL, so I can spread the debt out to stay below 30% on each card. I was going to use 3 cards but was warned against it. Most my cards CL are around $13k. My FICO Score 8 is 790 with perfect history, 12 year average, 31% Util, no inquires, and I live in Oklahoma. I know I will take hit with 6 inquires and 4 new cards. But I haven't applied for anything in 5 years. Only debt I have is this. What strategy would you use? What card would you apply for first? Then CLI? Thank you for any suggestions!


I've received the following Pre-approved offers in the mail:

Citi Diamond - 0% at 21 months - Read they can pull all 3 CB.

WF Reflect - 0% at 21 month  - Read they pull EX mostly

BoA - 0% at 18 months - Read they pull EX mostly

US Bank - 0% at 20 months - Read they pull EX mostly

Want to do CLI for Chase (EX) & Barclays (TU)


If I were you I would try to get a credit union non-rewards platinum card with no balance transfer fee and no cash advance fee.

Total revolving limits 699000 (597000 reporting) FICO 8: EQ 732 TU 721 EX 698

Message 13 of 13
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