New card thoughts...

[tcbofade]

$2,000 CL, 0% for 12 months...then 17.99.

My initial thought was to max the card out via BT's to take advantage of the 0%.

Frankly, I'd like to get to the place of larger credit lines, and I'm wondering if a different behaviour would encourage CLI's?

Use it and PIF every month?  (Seems like a waste of the 0% offer...)

Use it to PIF several other cards that are NOT 0% and just pay the debt off as I go?

Which do you think is better for my Fico?

Which do you think is more likely to encourage the CU to gradually increase my limit?

(I don't want to screw this up...)

[LS2982]

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@tcbofade wrote:

$2,000 CL, 0% for 12 months...then 17.99.

My initial thought was to max the card out via BT's to take advantage of the 0%.

Frankly, I'd like to get to the place of larger credit lines, and I'm wondering if a different behaviour would encourage CLI's?

Use it and PIF every month?  (Seems like a waste of the 0% offer...)

Use it to PIF several other cards that are NOT 0% and just pay the debt off as I go?

Which do you think is better for my Fico?

Which do you think is more likely to encourage the CU to gradually increase my limit?

(I don't want to screw this up...)

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This while on your 0% period.

[Anonymous]

This depends on the bank or CU. You may want to check with them. I had my CU Visa for 2.5 years and never had an auto CLI. I called and requested one and they made a comment about my excellent payment history. I asked, "why haven't I  received an Auto CLI?" The rep advised me that auto CLI's were against their policy and ALL CLI's have to be requested through an application process (HP every time). You may want to call them and ask what do they prefer...

[bichonmom]

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@Anonymous wrote:

This depends on the bank or CU. You may want to check with them. I had my CU Visa for 2.5 years and never had an auto CLI. I called and requested one and they made a comment about my excellent payment history. I asked, "why haven't I  received an Auto CLI?" The rep advised me that auto CLI's were against their policy and ALL CLI's have to be requested through an application process (HP every time). You may want to call them and ask what do they prefer...

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My CU told me the exact same thing. But Navy has been known to give auto-CLIs, so maybe it's a policy some CUs have.

[Anonymous]

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@LS2982 wrote:

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@tcbofade wrote:

$2,000 CL, 0% for 12 months...then 17.99.

My initial thought was to max the card out via BT's to take advantage of the 0%.

Frankly, I'd like to get to the place of larger credit lines, and I'm wondering if a different behaviour would encourage CLI's?

Use it and PIF every month?  (Seems like a waste of the 0% offer...)

Use it to PIF several other cards that are NOT 0% and just pay the debt off as I go?

Which do you think is better for my Fico?

Which do you think is more likely to encourage the CU to gradually increase my limit?

(I don't want to screw this up...)

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This while on your 0% period.

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+1 I'd do this too without a doubt. I've even heard of creditors upping your CL upon request when they hear its for a BT. Maybe call in to ask?

[tcbofade]

New card got here this weekend...1st BT completed...

I'm still thinking about which balances to transfer, but I've got the first one done! 

[LS2982]

@tcbofade How many other BT's are you doing?

[tcbofade]

Haven't decided yet...

I put 500 on it this morning which nearly pays off a "subprime" account of mine.

I'm still looking at my spread sheet trying to decide which others to BT.

Frankly, it's not a large enough CL to make much difference to ME, but I think with some careful manipulation, I can use BT's to lower my DW's util enough to have an impact on HER score...she and I will discuss this more this evening.

Your thoughts?

[LS2982]

Are the cards your DW has maxed out or just high interest? Are you paying BT fee's?

[tcbofade]

Yes, yes, and yes.