NFCU BT offer consolidation question

[Anonymous]

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

[Anonymous]

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

[Anonymous]

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@Anonymous wrote:

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

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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.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

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

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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.

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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. 

[Anonymous]

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. 

[CreditInspired]

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%.