Balance Transfers

[CivalV]

So BT might be the only thing I have not went crazy researching over. Would anyone happen to know if you can do more than 1 BT?

Example: If I have 3 CC accounts and I want to transfer from another CC is that allowed? Are you allowed to do that many BT from 1 account?

I know you have to have an offer available on the account you are trying to transfer. I also am aware of UTL and trying to stay under a certain percentage but I dont know the specifics ... YET

If anyone could chime in with their experience of doing a BT or your knowledge of BT I would appreciate it.

[Anonymous]

The limit on how many balances you can transfer to a single account are set by the issuer. You would have to ask them. For example when I got my NFCU Platinum card I was advised that I could transfer 5 balances to it. 

[CivalV]

Wow! That is insane 5 tranfers from 1 account? I have my two premier cards that I would like to BT to. Going to focus snowballing and getting my cards under the 48.9% threshold let my scores go up and then have my boyfriend sponsor me for NFCU. TU is my highest score so hopefully when the time comes I will get approved with a decent limit. Which NFCU do you recommend for BT? I was interested in the GO Rewards CC.

[Anonymous]

Platinum

[Anonymous]

The Platinum is the best BT card. It’s the only one that has 0% BT offers year round and Navy doesn’t seem to be shy about giving out large credit lines on it. 

You can always go for a second card at 91/3 or 6 months. I don’t like their $50 cash redemption on cards other than the cashRewards though. 

[CivalV]

Thank you for all of this information. Do you think it is more difficult to be approved for the NFCU Plat vs GO rewards? Ive read lots of threads in regards to low scores and high SL with GO rewards.

[Anonymous]

I think about the same for all in general.

[Anonymous]

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@CivalV wrote:
Thank you for all of this information. Do you think it is more difficult to be approved for the NFCU Plat vs GO rewards? Ive read lots of threads in regards to low scores and high SL with GO rewards.

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NFCU approved me for $7200 on the Plat as my second card a few days after giving me a CLI from $3000 to $7500 on my cashRewards and a $500 CLOC and my TU was 647 when they approved me in September for the CR and 652 when they gave me the Platinum. I don’t think Navy has different UW criteria for their cards except the Flagship which requires a $5000 minimum SL. 

They even gave me the lowest APR they offer on both of my cards. 

[Anonymous]

Saeren - you waited 6 months too didnt you?

OP - most app right at 91/3.

[Anonymous]

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@Anonymous wrote:
Saeren - you waited 6 months too didnt you?

OP - most app right at 91/3.

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Nope, I was amazed but at 91/3 I asked for $7500 for CLI 12/10 and received it without need to recon then I went for CLOC and just asked for $500 and got instant approval then 12/16 I asked for Plat and got approved for $7200. 

NFCU’s algorithms like something about my reports because they’ve extended me credit for 83% of my annual income.