Sorry to hear about the low SL but congrats on the approval! You might consider calling recon and telling them the amount you’re looking to BT and see if they’ll work with you.
Otherwise I would try PenFed. Keep the Slate though, you’ve got your in with Chase, but Chase definitely is not a lender you want to saddle with large BTs right away anyway.
I'm not familiar with credit union cards. Do you recommend any, that I can research?
1. You're likely to find a good credit union that only takes people who live or work in your area. So you could research it, searching for "credit unions near me" or "best credit unions in ____ [insert your state name]" or something like that.
2. Some nationwide credit unions who will accept pretty much anybody, who have cards of the type I mentioned, are Langley FCU, PenFed, Unify FCU, Digital Credit Union, and Andigo Credit Union.
But which ones in that list are known for big SLs besides PenFed? At $7,000 for BT, that means $12,000 to be under 60% utilization right out of the gate.
I don't know.
Thanks for all the ideas... I will do some researching tonight.... this is new to me, wasn't aware of these kinds of credit cards...
I wasn't aware of them either, until I learned here about PenFed and the PenFed Promise card. Since then I've added some others.
Curious?!? This credit union CC.. Would it be considered a different kind of credit? My account mix is not good, I'm wondering if this kind of CC would help it?
It's considered a bank card by FICO. No difference.
WHOMP! I have CC's and a lease ATM... I cant get into a mortgage and have 0 student loans... What else helps this MIX on my report?
Sorry in advance for so many quesions.....
Credit mix is a minor factor; I wouldn't worry about it.
I don't know what "lease ATM" means. If it's an auto lease it counts as an installment loan. If you mean an apartment lease, it's not a factor.
Ok... so I spent the better half of the day investigating all these CU cards and by far PenFed does have the best offer 3% BT fee and 12 months 0% APR... but.... Chase Slate really had the best offer overall with 0% BT fee and 15 months 0% APR... so the only thing left was HOPE 🤞 I got a high SL...
So I pulled the trigger on Slate....
I was approved for 4,900...
Short of what I need to transfer over... ☹
The PenFed card with 3% balance transfer fee is not the PenFed Promise card; the Promise card has no BT fee.
Slate always does that; gives you too low a SL to be meaningful for a BT. And you'll hurt your scores if you use more than 28% of it. And the card is useless later on. IMHO it's a rotten card. But it's good to be in with Chase.
Yup I saw the Promise card with 0 BT fees but has an APR of 4.99% for 12 months which technically ends up costing me more interest then the 3% with 0 APR for 12 months.
It depends really. The fee will cost you 3% up front. You can technically pay less interest if you pay it off or transfer it elsewhere before the 12 months is up and the way interest is calculated, you actually come out ahead on the 4.99% APR anyway.
$210 up front 3%
~$191 over twelve months at 5%