Credit Card BT

[Anonymous]

Has anyone ever tried to transfer about 4 smaller balances to one card?  After I pay my bills tomorrow I will have about 4 cards with balances between $200-$350 each.  I would like to consolidate these into one card with 0% APR.  I have a few options, including NFCU and Discover.  Does it look desperate to want to transfer multiple low balances (as if I can't make next month's bills)?  I would rather make a $200-$250 payment on one card per month until PIF.  19.99% on Blispay and 22.99% on Total Rewards adds up slowly.

I'm also trying to go from 10CCs to about 4 or 5 soon because it's a lot of work to keep track of it all.

[ChessChik47]

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@Anonymous wrote:

Has anyone ever tried to transfer about 4 smaller balances to one card?  After I pay my bills tomorrow I will have about 4 cards with balances between $200-$350 each.  I would like to consolidate these into one card with 0% APR.  I have a few options, including NFCU and Discover.  Does it look desperate to want to transfer multiple low balances (as if I can't make next month's bills)?  I would rather make a $200-$250 payment on one card per month until PIF.  19.99% on Blispay and 22.99% on Total Rewards adds up slowly.

I'm also trying to go from 10CCs to about 4 or 5 soon because it's a lot of work to keep track of it all.

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It's easy to do and banks don't seem to care, they just want to get paid.  Hopefully you won't incur balance transfer fees (3% or so normally per balance transfer), check your offer to make sure.  

[SouthJamaica]

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@Anonymous wrote:

Has anyone ever tried to transfer about 4 smaller balances to one card?  After I pay my bills tomorrow I will have about 4 cards with balances between $200-$350 each.  I would like to consolidate these into one card with 0% APR.  I have a few options, including NFCU and Discover.  Does it look desperate to want to transfer multiple low balances (as if I can't make next month's bills)?  I would rather make a $200-$250 payment on one card per month until PIF.  19.99% on Blispay and 22.99% on Total Rewards adds up slowly.

I'm also trying to go from 10CCs to about 4 or 5 soon because it's a lot of work to keep track of it all.

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It's fine. No it doesn't look desperate.

[SouthJamaica]

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@ChessChik47 wrote:

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@Anonymous wrote:

Has anyone ever tried to transfer about 4 smaller balances to one card?  After I pay my bills tomorrow I will have about 4 cards with balances between $200-$350 each.  I would like to consolidate these into one card with 0% APR.  I have a few options, including NFCU and Discover.  Does it look desperate to want to transfer multiple low balances (as if I can't make next month's bills)?  I would rather make a $200-$250 payment on one card per month until PIF.  19.99% on Blispay and 22.99% on Total Rewards adds up slowly.

I'm also trying to go from 10CCs to about 4 or 5 soon because it's a lot of work to keep track of it all.

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It's easy to do and banks don't seem to care, they just want to get paid.  Hopefully you won't incur balance transfer fees (3% or so normally per balance transfer), check your offer to make sure.  

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NFCU has no BT fee.

Discover's 0% offer does come with a 3% fee. Discover's 4.99% offer comes with no BT fee.

[Anonymous]

Thanks.  I think I'll do Navy because my limit on that account is double what my Discover is.  Better to have 5% utility on one card than 10%.  This is the first time all of these CC bills hit me at once.  I generally use one (like Blispay for purchases over $200) and others for small purchases to keep them active.  Blispay stopped allowing customers to make new purchases.  It's stressing me out and I don't want this to happen again so I will consolidate cards soon.

[FlaDude]

I recently did 4 BTs totalling around 10k to a new card, no problems. The issuers are happy to have you do this since they hope you won't pay off the balance before the promo rate ends and they can make some money off of you.

[AverageJoesCredit]

Having 10% utilty is the death knell for credit cards. I sure hope you back up options