To apply or not to apply dilemma ...

Anonymous · ‎01-24-2016

Ok guys/gals I wanted to get your take on this subject and hope to get some good insight.

I, like alot of people did my share of spending these past holidays (nothing outrageous) and added about $600-$800 in credit card spendature. I wanted to consolidate all the balances into 1 card and just pay that off every month on 1 date and not 4 multiple dates on all my various cards. So was wondering what you recommend I do in this case. Its been since 4/2015 that I applied and was approved for a CC and my credit is excellent so an approval on any card would almost be granted so lt me know.

Here are the cards i have and the current balances:

discover: $1200 / $3500 CL (got a 1000 cli this past november and was unable to get one this month since i forgot i had asked for one already)

bofa cash rewards : $650 / $2000 CL

walmart: $249 / $10k

Fico : 760/ NO baddies at all

So what I was really looking to do is transfer ALL these balances into 1 new card, but dont know which card to do this with since I would be looking for a higher CL amount than my current cards rather than a mere 2k - $4k which I hear most of these cards have offered people with excellent credit.

Was looking into the chase slate which has an attractive $0 APR on balance transfers and $0 APR for 15 mos and no rewards... But the reviews are horrible on the customer service and the ridiculous low credit lines they give to people with excellent credit, not to mention a common issue with most reviewers who state, they get denied when trying to transfer balances and at times the transfers take months to actually transfer all the while both their slate and old cards show full balances. Another one is a Bofa Bankamericard that has 18 mos $0 apr on balance transfers but a variable APR on purchases.

what are your recommendations ?

Anonymous · ‎01-24-2016

A couple months ago my Son applied for some Citi Card. It had a promo of 21 mos at 0% balance transfer option. I can't remember what Citi card it was, but you might look at their cards.

Edit: It looks like the Citi Diamond Preferred and Simplicity are still offering the 0% for 21 mos. No Annual Fee.

Anonymous · ‎01-24-2016

WOW thats a long intro period!!

I have been unable to find anything higher than the bofa bankamericard at 18 mos, I just didnt really want to take a HP with bofa and then come to find out the CL is too low as I have had my card with them going on 3 years, started off as $300 secured, after a year $500 and unsecured and now almost 3 years later only $2000 and thats it.

Anonymous · ‎01-24-2016

I'd just transfer it to Discover or pay it all off in full now. Log into discover, click on accounts, then balance transfer. There should be 2 seperate 0% offers available, one is 12 months, the other is 18 months.

Anonymous · ‎01-24-2016

@Anonymous wrote:
I'd just transfer it to Discover or pay it all off in full now. Log into discover, click on accounts, then balance transfer. There should be 2 seperate 0% offers available, one is 12 months, the other is 18 months.

Not everyone has the 18 month offer at Discover. I have an 18 month one, but my wife only has 12mos.

puckster23 · ‎01-24-2016

How about looking at Credit Unions. They give high limits. Got 11800 with Navy Federal and 0% balance transfer (although now it is 2.99) for 12 months. If you can't join that try PenFed. They have 0% BT on some of their cards plus rewards. They are easier to join then Navy Fed. Good luck though with your search. They are for 12 months.

Current Scores - EX-754, EQ-716, TU-751 Cards - Amex BCP(13800), Amex PRG, Amex Everyday(5000), Discover IT(3000), Navy Fed Go Rewards(11800), Cap One Sony Card(4000), Chase Freedom(5000), Chase Slate(5000)

Anonymous · ‎01-25-2016

I get mailers for the Slate all the time since I'm already a Chase cardholder, but in all honesty beyond the BT offer it really is a pretty lackluster card. Don't know about the Citi cards since I don't have one, but do get mailers for the Diamond Preferred quite a bit. Looks like there is a rewards program associated with that card, but not sure about inital credit limits with them. You could BT to your Discover account, and see if you can PIF the walmart since its a smaller balance. Keep hitting up Discover for the CLI's!

Anonymous · ‎01-27-2016

well I was looking into the slate and bankamericard and although its 18 mo 0 apr on balance transfers, neither offers any rewards and or perks so I dont think my balances are too high in order to consider a card which will only serve its purpose for 6-8 mos (time it will take to pay off debt) then there wil me no debt to transfer which the 0 apr only applies to balances transferred within the first 60 days of opening the acct.

I looked into the chase sapphire and freedom as well for the travel perks and rewards, but im mot too big into the triple pull chase does so im still stuck on what to do or if I should even consider getting another card.

as mentioned, I do not want to add a balance transfer to the discover as they charge 3% and it will near my credit limit as well

Anonymous · ‎01-27-2016

Amex is generous with CL and you can request a cli when you activate your card. I really like my edc 0% for 15mo on BT. BCE is a great card as well.

Anonymous · ‎01-27-2016

@VereorNox wrote:
Amex is generous with CL and you can request a cli when you activate your card. I really like my edc 0% for 15mo on BT, no transfer fee. BCE is a great card as well.

VereorNox:

Amex is a great card indeed but dont like the fact it isnt accepted everywhere like a visa or mc is, thats one of the main reasons why I dont really care for it much...and as far as barclays products go (if that is what you meant by BCE), I promised myself I would never give them my business due to the way they treated me when I was looking to get an account with them and their customer service was horrible.

sorry for the noob question, what is edc?