Anything suspicious about this BT?

[busted2]

I would like to show experience with available credit limit by writing a one time large BT check to myself, depositing it, then paying the vast majority (90-100%) back shortly after it posts. I don’t have any experience trying to game my credit cards. I only want to do it one time and have no history of anything other then legitimate purchases that raise no red flags. I simply noticed my highest balance used on my highest limit card was only 20% of available credit and wanted to show a larger percent. The idea is clearly not organic usage so I assume I better get advice.

Educate me please. I think I know just enough to be dangerous. 🙂

[MrDFinance]

Balance transers are typically used to reduce or Eliminate interest to pay things down over time with less interest...... I'm not sure how this will help your history with them.... If anything it will imply your in debt else where and need a balance transfer to ease that debt...

Another thing to consider.... If you take out a balance transfer for a amount higher then any debt you have on your credit report that could raise some major flags.......

I would just use the account organically.... No need to do all these tricks because it will only end of being a blip on the radar and not part of your normal spend habits.... And that's what they care about...

My first thought if I was the issuer would be, "why would he transfer a balance to pay it off right away... Why not use those funds to pay the original balance" ..
You don't wanna do things to get human eyes on your accounts...

[K-in-Boston]

If there is any fee for doing so, it would not be a good financial decision.  Highest reported balance is not used in any modern FICO scoring algorithm (it used to be used for NPSL cards such as Amex charge cards to determine your "credit limit" for utilization calculations on older models, which would be a great example of where having it at a one-time very high balance was advantageous).  The only time it would really be looked at is if you needed manual underwriting, and even then the appearance that you never went above (for example) $3,000 on a $10,000 limit shines a more positive light for your long-term ability to handle credit than seeing that you once had a $9,000 balance on a $10,000 card (90%, or maxed out).  Depending on the report that the underwriter would be looking at later or if it's years later and that is no longer showing, they may not see your monthly balance history like you would on a full copy of your personal credit report, so they would have no way of knowing that you only had the balance for a few days vs carrying a maxed out card for years.  In the end, it's unlikely to hurt you significantly, but I honestly don't see any way that it would actually benefit you and would advise against it.

[busted2]

Superb information above. Got the point. Thank the added fine details.

Incredible knowledge base here. 🙂

[AverageJoesCredit]

I once used a bt from my Citi Dc and paid it back within 3 weeks. Not one bt offer since. Conclusion??

[Anonymous]

Yes I agree a BT transfer is not the way to go and I dont think it will give you the benefits you are looking for. First - there is almost always an upfont fee - especially when you write a check that gets cashed/deposited in to your bank account. It is really a cash advance and 3%-5% fee added on to your CC balance. 

Second the banks are sensitive to unusual activity on new accounts. Suspicious behavior could get a new account flagged and may result in adverse action - the opposite of what you are trying for. The bank may reduce your Credit Line/Freeze the account or close it all together if they see something they do not like - again they can do this at anytime to any account - but new accounts are more scrutinized. 

As for building a relationship with them - there are no get rich quick schemes. Just takes time. Charge something small every month = let it post and pay it in full. Use the card as it benefits you and avoid trying to take short cuts and gain the system. The biggest boost to your releationship in the banks eyes are account age and responsible charges and timely payments. 

So if you are looking to increase the Credit Line - use the card as your everyday card and stay within your spending budget and by using it as often as possible with as many swipes as possible and the paying in full every month, the bank will value and appreciate your loyalty and be more likely to be more generous in future credit line increases as long as your scores allow it.