Looking for high SL, 0% intro APR for immediate large expense. Help?

[dubpeezy]

My wife recently got the Amex Blue Cash Everyday card with a SL of $25K. I believe it has 0% for 15 months.  Her score was high 700s and i think she put income @ $80k. Utilization was probably around 20% and I think she had only 1-2 inquiries on her file. Amex is soft pull unless you are approved and you accept, then it hard pulls EX and maybe TU. I can't remember if Amex showed her SL prior to her accepting.

[markbeiser]

Good news, you have an existing relationship with Bank of America, with a CCR card that is >1 year old, and has a decent CL!

Apply for the Unlimited Cash Rewards card, with a bit of luck you could get a $20k or more CL right out of the gate with your credit profile.
If approved, call BoA and have some or most of the existing CL on your CCR card transferred to the new card, have to leave at least $200 CL on the old card.

15 months of 0% APR.
$200 welcome bonus.
1.5% cash back bonus on the entire purchase charged to the card, more if you are a Preferred Rewards member.

[wowthisiswild]

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@markbeiser wrote:

Good news, you have an existing relationship with Bank of America, with a CCR card that is >1 year old, and has a decent CL!

Apply for the Unlimited Cash Rewards card, with a bit of luck you could get a $20k or more CL right out of the gate with your credit profile.
If approved, call BoA and have some or most of the existing CL on your CCR card transferred to the new card, have to leave at least $200 CL on the old card.

15 months of 0% APR.
$200 welcome bonus.
1.5% cash back bonus on the entire purchase charged to the card, more if you are a Preferred Rewards member.

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If you think my non-use of the current card won't be a problem, that sounds like a good plan. One question: In the terms and conditions, this sentence was in bold: "You also understand that if you have existing credit card accounts with Bank of America, we may use the available credit on the existing account(s) to approve your new credit card which could include moving credit from an account with a lower annual percentage rate and/or fee structure to a higher annual percentage rate and/or fee structure without increasing your overall credit limit." This sounds like they could do the opposite of what I want. Am I understanding this correctly?

[wowthisiswild]

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@dubpeezy wrote:

My wife recently got the Amex Blue Cash Everyday card with a SL of $25K. I believe it has 0% for 15 months.  Her score was high 700s and i think she put income @ $80k. Utilization was probably around 20% and I think she had only 1-2 inquiries on her file. Amex is soft pull unless you are approved and you accept, then it hard pulls EX and maybe TU. I can't remember if Amex showed her SL prior to her accepting.

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Thanks, this is encouraging.

[markbeiser]

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@wowthisiswild wrote:

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If you think my non-use of the current card won't be a problem, that sounds like a good plan. One question: In the terms and conditions, this sentence was in bold: "You also understand that if you have existing credit card accounts with Bank of America, we may use the available credit on the existing account(s) to approve your new credit card which could include moving credit from an account with a lower annual percentage rate and/or fee structure to a higher annual percentage rate and/or fee structure without increasing your overall credit limit." This sounds like they could do the opposite of what I want. Am I understanding this correctly?

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While that is certainly possible, and does appear to randomly happen, it usually only happens if the approval would put your TCL on BoA cards over whatever they decided the maximum is for you. Typically around 50% of stated income, or $99.9k.
From comments BoA reps have made when I was doing various business with them over the years, having a mortgage underwritten by them, even if they sold the servicing on, is viewed as a positive in your favor.

[wowthisiswild]

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@CreditCuriosity wrote:

Possibly call discover and see if they will offer you 0% for 12 months offer as sometimes they are known to do this as that way you wouldnt have to open a new card and have the limit you desire already.  If you did discover you would want to pay off that balance first though if they had an offer for you @CreditCuriosity, I was about to call Discover and then re-read your comment and not sure if I understood correctly. Are you saying I should have a $0 balance before I call? Or just pay it off before I put the HVAC system on it?

I use this card for everything and PIF every month. The $1700 on my CR was from my July statement and was paid Aug 9. My current balance is $580, with another $110 in pending transactions. I was actually about to put a $500 work expense on it, but I can put it on a different card if that would be wiser.

[NoMoreE46]

I'm sure you can get approved for most card -But I would keep a second application ready just in case you don't hit that $ 25,000 on the first...

[GZG]

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@wowthisiswild wrote:

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@CreditCuriosity wrote:

Possibly call discover and see if they will offer you 0% for 12 months offer as sometimes they are known to do this as that way you wouldnt have to open a new card and have the limit you desire already.  If you did discover you would want to pay off that balance first though if they had an offer for you @CreditCuriosity, I was about to call Discover and then re-read your comment and not sure if I understood correctly. Are you saying I should have a $0 balance before I call? Or just pay it off before I put the HVAC system on it?

I use this card for everything and PIF every month. The $1700 on my CR was from my July statement and was paid Aug 9. My current balance is $580, with another $110 in pending transactions. I was actually about to put a $500 work expense on it, but I can put it on a different card if that would be wiser.

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yeah, ask discover if they have a promotional APR on purchases or balance transfers available for your account 

[webhopper]

My parents just did this. The hvac company approved them for a wells fargo home improvement card with 0% for 18 months. They were approved for $17k 

would be worth asking the hvac company if they offer something similar. 
my parents are in Louisiana and this was offered by Southern Air. 

[webhopper]

https://retailservices.wellsfargo.com/homeprojects.html

this is the program that was offered by the hvac company.