Need 10k balance transfer card

Klesko · ‎09-10-2015

I really need to find a 10k CL balance transfer card for my wife. I need to transfer about 7-8k total so 10k would really be the minimum.

TU 700, EQ 710, EX ??

She has a BK from 2009, clean since then and burned Amex, Citi, NFCU, Barclays. She also has low income so CU really out of the question.

I got her a QS Visa with 10k limit recently but their BT is only for 8 months and I need at least 12. She also has a Discover It already with 5k balance and 13k limit.

I just need some more ideas, hoping someone can come up with some ideas I missed.

Anonymous · ‎09-10-2015

@Klesko wrote:
I really need to find a 10k CL balance transfer card for my wife. I need to transfer about 7-8k total so 10k would really be the minimum.

TU 700, EQ 710, EX ??
She has a BK from 2009, clean since then and burned Amex, Citi, NFCU, Barclays. She also has low income so CU really out of the question.

I got her a QS Visa with 10k limit recently but their BT is only for 8 months and I need at least 12. She also has a Discover It already with 5k balance and 13k limit.

I just need some more ideas, hoping someone can come up with some ideas I missed.

why not do a debt shuffle and pay as much as possible over the months? what is the balance on the QS? You could easily take a convenience check from disco for 8k as a 0 for 12 months and pay the disco and part of the qs off. Thus no need to open another card (although for reporting reasons a person should have 3 cards)

Open123 · ‎09-10-2015

If you can qualify, I think the Chase Slate would be ideal.

Klesko · ‎09-10-2015

@Open123 wrote:
If you can qualify, I think the Chase Slate would be ideal.

With the BK still reporting Chase seems like its unlikely. Also even if she did get apporved I would be affraid of a low limit.

Klesko · ‎09-10-2015

@Anonymous wrote:
@Klesko wrote:
I really need to find a 10k CL balance transfer card for my wife. I need to transfer about 7-8k total so 10k would really be the minimum.

TU 700, EQ 710, EX ??
She has a BK from 2009, clean since then and burned Amex, Citi, NFCU, Barclays. She also has low income so CU really out of the question.

I got her a QS Visa with 10k limit recently but their BT is only for 8 months and I need at least 12. She also has a Discover It already with 5k balance and 13k limit.

I just need some more ideas, hoping someone can come up with some ideas I missed.
why not do a debt shuffle and pay as much as possible over the months? what is the balance on the QS? You could easily take a convenience check from disco for 8k as a 0 for 12 months and pay the disco and part of the qs off. Thus no need to open another card (although for reporting reasons a person should have 3 cards)

She has more cards than listed, I just listed the major ones.

Amanzon 0/5000

JC Penny 0/5000

ToysRus 0/5000

CareCredit 0/6500

CapOne QS 0/10000

Discover 5500/13000

Creditaddict · ‎09-10-2015

Is she pre-qual for anymore cap1 cards? I would suggest a Cap1 Venture and Venture 1 back to back but if she is not pre-qual for anything I would just cold apply for venture 1 because I believe that one has the BT offer and the Venture does not.

otherwise move everything to the cap1 for now and in 7.5 months revisit a new card to BT again but if you can do it in 12, that means in 7 the balance should be way down so moving over to Discover or something else she currently has wouldn't be a problem and discover will always throw a BT offer at you if you call and ask!

Klesko · ‎09-10-2015

@Creditaddict wrote:
Is she pre-qual for anymore cap1 cards? I would suggest a Cap1 Venture and Venture 1 back to back but if she is not pre-qual for anything I would just cold apply for venture 1 because I believe that one has the BT offer and the Venture does not.
otherwise move everything to the cap1 for now and in 7.5 months revisit a new card to BT again but if you can do it in 12, that means in 7 the balance should be way down so moving over to Discover or something else she currently has wouldn't be a problem and discover will always throw a BT offer at you if you call and ask!

From what I see on their website the VentureOne has 0% promo on purcheses but nothing on balance transfers. My plan was to roll the balance into another 12 month 0% card in 12 months. Just seems like having to do this in 8 months is going to be harder with new account reporting.

Creditaddict · ‎09-10-2015

@Klesko wrote:
@Creditaddict wrote:
Is she pre-qual for anymore cap1 cards? I would suggest a Cap1 Venture and Venture 1 back to back but if she is not pre-qual for anything I would just cold apply for venture 1 because I believe that one has the BT offer and the Venture does not.
otherwise move everything to the cap1 for now and in 7.5 months revisit a new card to BT again but if you can do it in 12, that means in 7 the balance should be way down so moving over to Discover or something else she currently has wouldn't be a problem and discover will always throw a BT offer at you if you call and ask!
From what I see on their website the VentureOne has 0% promo on purcheses but nothing on balance transfers. My plan was to roll the balance into another 12 month 0% card in 12 months. Just seems like having to do this in 8 months is going to be harder with new account reporting.

if you lay low for 7+ months, most banks won't even consider the accounts new anymore and you will qualify for better and higher limit cards.

Klesko · ‎09-10-2015

@Creditaddict wrote:
@Klesko wrote:
@Creditaddict wrote:
Is she pre-qual for anymore cap1 cards? I would suggest a Cap1 Venture and Venture 1 back to back but if she is not pre-qual for anything I would just cold apply for venture 1 because I believe that one has the BT offer and the Venture does not.
otherwise move everything to the cap1 for now and in 7.5 months revisit a new card to BT again but if you can do it in 12, that means in 7 the balance should be way down so moving over to Discover or something else she currently has wouldn't be a problem and discover will always throw a BT offer at you if you call and ask!
From what I see on their website the VentureOne has 0% promo on purcheses but nothing on balance transfers. My plan was to roll the balance into another 12 month 0% card in 12 months. Just seems like having to do this in 8 months is going to be harder with new account reporting.
if you lay low for 7+ months, most banks won't even consider the accounts new anymore and you will qualify for better and higher limit cards.

My concern on this is her utilization will be high on the 2 cards then. I plan to move 8k to the 10k card, and another 4k to the discover. So next month the cards will be 80% util and 70% util. I only plan to pay the mins on them, so in 8 months the cards will be 64% util and 53%. I know her score will take a hit in the meantime but I dont plan on applying for anything else during that time.

Creditaddict · ‎09-10-2015

@Klesko wrote:
@Creditaddict wrote:
@Klesko wrote:
@Creditaddict wrote:
Is she pre-qual for anymore cap1 cards? I would suggest a Cap1 Venture and Venture 1 back to back but if she is not pre-qual for anything I would just cold apply for venture 1 because I believe that one has the BT offer and the Venture does not.
otherwise move everything to the cap1 for now and in 7.5 months revisit a new card to BT again but if you can do it in 12, that means in 7 the balance should be way down so moving over to Discover or something else she currently has wouldn't be a problem and discover will always throw a BT offer at you if you call and ask!
From what I see on their website the VentureOne has 0% promo on purcheses but nothing on balance transfers. My plan was to roll the balance into another 12 month 0% card in 12 months. Just seems like having to do this in 8 months is going to be harder with new account reporting.
if you lay low for 7+ months, most banks won't even consider the accounts new anymore and you will qualify for better and higher limit cards.
My concern on this is her utilization will be high on the 2 cards then. I plan to move 8k to the 10k card, and another 4k to the discover. So next month the cards will be 80% util and 70% util. I only plan to pay the mins on them, so in 8 months the cards will be 64% util and 53%. I know her score will take a hit in the meantime but I dont plan on applying for anything else during that time.

if you don't plan on applying for anything then credit score during that period won't matter and has no memory so you could fix the util. issue in 1 month right before you need to apply for new credit but if you have no changes, it might be tad harder in 7 months to make moves but revisit it then... no since in paying higher interest now if you have options for 0% just over util.