cancel
Showing results for 
Search instead for 
Did you mean: 

Balance Transfers

Highlighted
Established Contributor

Re: Balance Transfers

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.
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 11 of 29
Highlighted
Established Contributor

Re: Balance Transfers

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.
Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 12 of 29
Highlighted
Established Contributor

Re: Balance Transfers

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.
Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 13 of 29
Highlighted
Established Contributor

Re: Balance Transfers

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.
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 14 of 29
Highlighted
Super Contributor

Re: Balance Transfers


@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.

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. 




Message 15 of 29
Highlighted
Super Contributor

Re: Balance Transfers


@BrandonLane 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.

BT utility is kind of pointless at that point though. 




Message 16 of 29
Highlighted
Established Contributor

Re: Balance Transfers

Oh yeah. Lol.

My bad. Got tunnel vision with approval. 😂😂😂
Started 6/6/2018 EX - 588 ; EQ - 667 ; TU 575

Updated 12/2018


Message 17 of 29
Highlighted
Established Contributor

Re: Balance Transfers

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.
Sept 18: EQ: 578 TU: 583 EX: 576
Sept 19: EQ8: 640 TU8: 645 EX8:640 April 20': EQ8: ??? TU8: 680 EX8: 673
Goal by Sept 20’ EQ: 700 TU: 700 EX:700

AA:


Goal: Auto Lease 2020 Jeep MOAB
Goal: Chase Sapphire Preferred
Goals Achieved Nov 19’: First Chase CC, Marriott Bonvoy w/ lowest APR rate of 17% April 20': First Citi CC W/ 15% APR rate Total CL:$21,400
Message 18 of 29
Highlighted
Super Contributor

Re: Balance Transfers


@BrandonLane wrote:
Oh yeah. Lol.

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

🤣 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. 




Message 19 of 29
Highlighted
Super Contributor

Re: Balance Transfers


@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.

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. 




Message 20 of 29
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.