Balance Transfers

[CivalV]

So in regards to data points this is pretty much my profile.

Current TU 630
2 inquiries
2 new accounts opened in December EQ pulls.
Overall UTL 70% *I know its high, I am paying off $4000 within the next 2-3 weeks* that will put my UTL below the 48.9% threshold.
AAOA 6-7YRS AAOA 1YR 6-7MTHS
11 revolving accounts, 2 out of 11 are installment loans. Self lender started at $1700. I now only owe $700. It matures in June.
Highest SL is my Cap 1 QS1 $2750
Second highest SL Discover 5% CB $2000


At what point should I go for the NFCU membership? I dont want to waste HPs. Makes me super nervous applying for new credit. I really want to close my 2 premier cards & combine my QS1 into my QS. A little nervous as my QS1 is the only account that is 6-7YRS old. All my other accounts are either 2 years or less.

[Anonymous]

Okay must have been someone else.

OP, Sareen is the exception on these boards for a CLI with Navy. The 2nd card approval almost seems to be a 100% lock so long you manage responsibly.

[Anonymous]

I would pay down that utilization under 9% if you want to minimize your chances of wasted HP. It will also increase your scores. Then I’d pull the trigger for the best chance.

[CivalV]

Thank you!! I figured that. The goal is to have my Discover as my daily driver until further notice. I want that to be the only account reporting a balance.

[Anonymous]

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@CivalV wrote:
So in regards to data points this is pretty much my profile.

Current TU 630
2 inquiries
2 new accounts opened in December EQ pulls.
Overall UTL 70% *I know its high, I am paying off $4000 within the next 2-3 weeks* that will put my UTL below the 48.9% threshold.
AAOA 6-7YRS AAOA 1YR 6-7MTHS
11 revolving accounts, 2 out of 11 are installment loans. Self lender started at $1700. I now only owe $700. It matures in June.
Highest SL is my Cap 1 QS1 $2750
Second highest SL Discover 5% CB $2000


At what point should I go for the NFCU membership? I dont want to waste HPs. Makes me super nervous applying for new credit. I really want to close my 2 premier cards & combine my QS1 into my QS. A little nervous as my QS1 is the only account that is 6-7YRS old. All my other accounts are either 2 years or less.

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Honestly I would get your utilization down under the 48.9% threshold and if your scores go up to or over 650-660, you might have a good shot of getting a card but they might give you a “prove yourself” limit so I would recommend doing the app over the phone so you can tell the rep exactly how much you are looking to BT (but don’t set the BTs up in case they give you a low limit and you end up maxed out) and see if they can send that info in with your application to have it reviewed. 

NFCU tends to be very accommodating in my experience. 

[Anonymous]

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@Anonymous wrote:
I would pay down that utilization under 9% if you want to minimize your chances of wasted HP. It will also increase your scores. Then I’d pull the trigger for the best chance.

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BT utility is kind of pointless at that point though. 

[Anonymous]

Oh yeah. Lol.

My bad. Got tunnel vision with approval. 😂😂😂

[CivalV]

Thank you! If I can get my little foot in the door with a limit good enough for a $1400 BT transfer I will be more than happy. I have 3 cards at high UTL. Which is Cap 1 and the two premier cards. Totaling $4,100. I only want to BT the two premiers. I will PIF Cap 1 very soon. If I could set aside the rest of the $$ I will have in hand towards savings that would be great.

[Anonymous]

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@Anonymous wrote:
Oh yeah. Lol.

My bad. Got tunnel vision with approval. 😂😂😂

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🤣 yeah I get that haha. 

I do not really see a problem with approval at this point as much as I do the potential for a low limit “prove yourself” card. 

[Anonymous]

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@CivalV wrote:
Thank you! If I can get my little foot in the door with a limit good enough for a $1400 BT transfer I will be more than happy. I have 3 cards at high UTL. Which is Cap 1 and the two premier cards. Totaling $4,100. I only want to BT the two premiers. I will PIF Cap 1 very soon. If I could set aside the rest of the $$ I will have in hand towards savings that would be great.

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I would be surprised if they can’t accomodate a $1400 BT at or under 70% utilization ($2000 limit). Definitely suggest making sure to call them though.