New card with high limit?

[Anonymous]

I'll second the Discover suggestion if you're okay with a BT fee. I like the card in general. 

I'd worry about a low limit with Slate. I was going to say you could have another Chase card in the wings in case the Slate limit was low you could also app for a co-branded card which usually have higher limits. You could then move limits around as needed. However, there's been something floating around about not having more than one new account in 30 days with Chase, so that may be a non-starter. However I haven't paid close enough attention to see if the co-branded cards are included. Lots of big limits on things like Southwest and United. Come to think of it I think one of the co-branded Southwest cards offers a BT...I'd look into that if there's any interest in a SW card. 

There's the Amex route mentioned, but I've heard Amex and Barclay are both weird about BT even though they offer them. 

[Anonymous]

I'm not sure if he'll go for the Discover but look into that one. I know he does not want the Slate. He doesn't care about fee. So no one really likes the Citi DCB? or is it low CL most of the time? I think he'd even app for two cards. Anyone else think Amex could work?

[Anonymous]

I PC'd to the Double Cash so I didn't know they offered BT rates. That's a good solution that will be useful later. It might take a second HP to get to a reasonable limit though. 

[NRB525]

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@Anonymous wrote:

such a waste to open a new account just for interest savings. especially with limits that high.  slate is a risk for low limit.

have you considered a debt shuffle?  get a card like the Ring, move as much to that as possible, then to a BT offer back on the US bank card.  Then you wont be stuck with a nearly worthless slate when its paid off..

Doesn the US bank card have any offers for a convenience check?  

u guys and your bt fees....they dont even come close to interest charges. I am just fine with people paying them if it saves them money.  If you can get a decent limit with chase, then by all means go for it. why not app for the slate and if limit aint high enough grab a freedom under same inquiry then move the limit.....

or, and some people here might flip out on me for this... but you could  always shuffle some of it to you before you BT it back to US bank.

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^This is your starting point, OP.

1) Check with USBank whether any BT offers are already available.

2) If not, you can app for the Perks+ card, which has a 12-month BT offer. With an existing high balance, rapid-pay history with US Bank DH should get a very nice limit on the new card.

3) After 1 or 2 above are in place, BT the $10k to Capital One using the no-BT Fee feature common to all Cap One cards. Wait a week or two.

4) Finally, initiate the BT back to the USBank offer, either 1 or 2.

I have done this many times over the years when one low-APR offer expires, or an even better one comes along on a single card with a balance.

After 12 months, if DH doesn't like the Perks+, it should be possible to easily PC to the Cash+, which only offers 9 months 0% BT, but has a little more obvious rewards.

[Anonymous]

NRB525, This actually sounds like the better option. We went on the prequal site for USbank and he prequals for three cards. The Platinum and the Cash seem to have the best BT options and he already has the Perks. The Platinum actually says "generous credit lines" and lower APRs starting at 9.9 and BT 0% (w/fee) for the first 12 cycles in the comparison window.  Thanks to everyone!!

[Anonymous]

Woohoo for doing the debt shuffle!  It's my favorite dance!

[takeshi74]

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@Anonymous wrote:

Does anyone have suggestions on which  cards he could get approved on with a high enough limit to do this?

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Limit isn't determined by the card.  It's determine by what one's credit and income qualify for versus the creditor's underwriting criteria.  If he has a high balance/revolving utilization on a card then he will have reduced chances of getting a high limit on a new card as revolving utilization is a significant scoring and risk factor.

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@Anonymous wrote:

In this case, he felt he had to put $15,000 on his card for a major purchase, will payoff $5000 right away and wants to put the remainder on a 0% BT so that he has breathing room.

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Keep in mind that the revolving utilization on the target BT card matters as well.  If he want to BT $10K then ideally he'd want at least a $30K limit.  If the BT maxes the card or puts it at very high utilization then he'll want to get it down as quickly as possible.

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@9CLINE wrote:
I like the Amex choices also...I can't speak on them no liking balances

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It's a myth/oversimplifcation that just gets parroted.  AmEx is concerned about the same risk factors as any other creditor.  They just have different risk tolerances but all creditor don't have the same tolerances to begin with.  It's not a simple black-and-white-matter of balance versus no balance or even just balances/usage/utilziation on their own cards.  One's entire credit profile matters and risky activity with non-AmEx accounts can lead to adverse action but, again, it's the same with any creditor.

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@Anonymous wrote:

slate is a risk for low limit.

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Again, depends on credit profile.  People apping for the Slate typically have high utilization as they're looking to transfer a balance.  High utilization does have an impact on approvals, limits and APR's.

[Anonymous]

The utilization in this case is 4-5% until this hits his report and I'm thinking it would not be reported until next month.