Hi everyone, I've never done a balance transfer before and I'm hoping you can weigh in on my plan.
My husband and I are planning to put some home renovation expenses on to some credit cards to meet minimum spend requirements and then balance transfer those balances to cards where we have 0% APR offers.
Can he and I complete 2 balance transfers each (4 total) without issue? And are BTs similar to CC app-o-ramas in which they should be requested on the same day? (Note that at this time I don't want to open any new CCs, even if they have 0% APR offers).
Here is the breakdown of $17.5k in transfers, each with the aim of keeping each transfer at 30% utilization:
Me:
$5.5k from Chase to Barclay Arrival ($18k CL)
$3k from Amex to Barclay Aviator ($10.5k CL)
Husband:
$6k from Citi to Chase ($24k CL)
$3k from Amex to Cap1 ($10k CL)
Please let me know if you think this will work, or if there are any other recommendations. TIA!
