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Cap One BT advice

Regular Contributor

Cap One BT advice

Good evening brain trust.  I've got a question for y'all.

I recently got a Cap One Platinum with a SL of $3000.  I can do a BT with 0% interest for one year and NO BT fee.


Question is which card would be the better benefit?  I have no plans to seek out any more credit at this time, until next summer. 


USAA 3000/3500  12.5%

NFCU Cash Rewards  3600/9300 15.65%


I can pay off the USAA, then chip away at NFCU , then focus on CapOne before the year is up.

OR BT $3000 off the NFCU b/c the interest is higher?  Then I'd have two cards w high util...


My overall utility is 15%,   most my other cards report at or near 0%


Do you always defalt to pay the higher interest rate card with the BT?


Ok credit, getting better.....slowly.... Can't seem to stay in the Garden for any extended period of time. I'm trying. Mid to upper 600's across the board.
Message 1 of 3
Super Contributor

Re: Cap One BT advice

I would move nearly all the $3k off the USAA card to the Capital One card. You want to pay the $3k down a bit so it is not completely filling up the Capital One card.


Get the USAA card balance to zero, so that it is no longer carrying any balance. Pay In Full (PIF) after every statement on the USAA going forward. That avoids interest on new purchases.


Use only the USAA card for any new spend, and PIF every monht. Keep the CapOne and NFCU card in the SD with no new charges until they are paid down completely.


Scores won't improve much, but you will save oodles of cash on interest costs, and it will help to get ahead of these balances, get them paid down.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812

Delta Reserve and CSP Jan 2018, no more 5/24 worries... unless new Chase Marriott/SPG replacement is enticing...meh, turns out not.
Message 2 of 3
Established Contributor

Re: Cap One BT advice

Always pay 2 or 3 times your min payments then highest interest rate first unless over limit.  The rest will work itself out.

credit rebuild started 01/01/14
$100k credit card goal achieved 10/01/17
now in the garden with $140k in credit cards
  $ 30,000          $ 25,500          $ 23,750             $ 13,500             $ 7,000            $ 1,800     

  $ 17,000          $ 10,000              $ 6,000            $ 4,000     
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