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NFCU BT offer consolidation question

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Valued Member

NFCU BT offer consolidation question

Greetings fellow credit experts and Happy New Year...

 

I am considering transferring all my balances to my NFCU Go Rewards card using the 1.99% BT offer i received. My question is, how will this affect my credit score as I am planning on appplying for a VA loan with NFCU in approximately 6 months. I will be able to pay the balance transfers complete off before the 12 months expire. I also plan on closing FP and indigo as soon as I transfer. As always any and all advice is greatly appreciated.

 

Listed below are my current cards that carry balances and their CL.

 

NFCU Go rewards          4,500/10,000

NFCU Cash rewards      2,500/3,000

Discover                          57/2,000

AMEX                               500/1000

Capital One                     250/500

Indigo                               160/300

First Premier                   220/400

Starting Score: 471
Current Score: 713
Goal Score: 740


Take the myFICO Fitness Challenge

NFCU Flagship 15,000
NFCU GO rewards 6,500
NFCU CASH rewards 4,000
Discover IT 4,000
AMEX Blue Cash 7,000
AMEX Gold Delta 6,000
Cap One Plat 501
Indigo 300
First Premier 400
Kay Jewelers 1,000
Fingerhut 1,800
NY&Co 400
Victoria's Secret 350
J Crew 250
New Coast Direct 5,000
Message 1 of 6
5 REPLIES 5
Established Contributor

Re: NFCU BT offer consolidation question

How much are you planning on moving there for the BT?

 FICO 8
Message 2 of 6
Highlighted
Valued Member

Re: NFCU BT offer consolidation question


@Overmedicated wrote:

How much are you planning on moving there for the BT?


Moving all of my balances to the GO rewards card. So basically all cards will be zero except for GO rewards which will be 8,100 of 10,000 available.

Starting Score: 471
Current Score: 713
Goal Score: 740


Take the myFICO Fitness Challenge

NFCU Flagship 15,000
NFCU GO rewards 6,500
NFCU CASH rewards 4,000
Discover IT 4,000
AMEX Blue Cash 7,000
AMEX Gold Delta 6,000
Cap One Plat 501
Indigo 300
First Premier 400
Kay Jewelers 1,000
Fingerhut 1,800
NY&Co 400
Victoria's Secret 350
J Crew 250
New Coast Direct 5,000
Message 3 of 6
Moderator

Re: NFCU BT offer consolidation question


@Dsteudlein wrote:

@Overmedicated wrote:

How much are you planning on moving there for the BT?


Moving all of my balances to the GO rewards card. So basically all cards will be zero except for GO rewards which will be 8,100 of 10,000 available.


You can't use the balance transfer offer to move the balance on your CashRewards card to the GoRewards card.  No creditor allows you to BT the balance from one of their cards to another. 

Message 4 of 6
Valued Contributor

Re: NFCU BT offer consolidation question

As Irish mentioned you can't transfer debt from a NFCU card to another NFCU card. You try a discover CLI then see if there are any BTs available to discover, and move the Cash reward balance to disco. 

Message 5 of 6
Community Leader
Senior Contributor

Re: NFCU BT offer consolidation question

Hi OP

So it looks like you want to Xfr a total 1187 to your go rewards. That will put the go rewards card at 57% UT. This is pretty high. And your cash rewards is already almost maxed out at 83% UT.

IMHO, if your goal is to buy a house in 6 mos. you need to get your overall UT down to less than 28.9%.
GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 6 of 6
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