Transfering a newly made balance to another card with a higher credit limit

[Anonymous]

Hi i have rebuilt my credit thanks to this site and now i have a question. I recently made a big purchase (aprox 2337) on my Discover with a 3000 limit.  I had planned on putting the purchase on my American express blue cash (15k limit) but found out at the last minute that they took every card but American Express. So i put it on my Discover.  This was not what i planned  as i planned on putting it on my American Express and paying it off monthly while in my 0.00% introductory APR period which last till june 2016. I put it on my discover which only had a limit of 3000 but also has a introductory  Apr period that lasts till April 2016.

With the Discover limit being only 3000 and the purchase being 2337.00 that takes me close to the discover limit. From what i have learned it is not good to use a card close to the limit unless maybe you plan to PIF and that was not my plan. If i could have put it on my American Express it would not be a big part of my credit limit being used.

So my Question is would it be ok to transfer the balance from my discover over to my American Express. Or should i just leave it be. After learning so much about credit from these forums and online i have become paranoid about my credit and not getting in debt and doing what is right to keep my credit clean. If i did this would it hurt my relationship with Discover? I just need some suggestions on what you guys/gals would do.  ATM im leaning towards leaving it on my discover and paying half the balance in my first payment and abut 200 a month till its payed off from then on, i would not use my discover till its payed off.  

[Turbobuick]

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@Anonymous wrote:

Hi i have rebuilt my credit thanks to this site and now i have a question. I recently made a big purchase (aprox 2337) on my Discover with a 3000 limit.  I had planned on putting the purchase on my American express blue cash (15k limit) but found out at the last minute that they took every card but American Express. So i put it on my Discover.  This was not what i planned  as i planned on putting it on my American Express and paying it off monthly while in my 0.00% introductory APR period which last till june 2016. I put it on my discover which only had a limit of 3000 but also has a introductory  Apr period that lasts till April 2016.

With the Discover limit being only 3000 and the purchase being 2337.00 that takes me close to the discover limit. From what i have learned it is not good to use a card close to the limit unless maybe you plan to PIF and that was not my plan. If i could have put it on my American Express it would not be a big part of my credit limit being used.

So my Question is would it be ok to transfer the balance from my discover over to my American Express. Or should i just leave it be. After learning so much about credit from these forums and online i have become paranoid about my credit and not getting in debt and doing what is right to keep my credit clean. If i did this would it hurt my relationship with Discover? I just need some suggestions on what you guys/gals would do.  ATM im leaning towards leaving it on my discover and paying half the balance in my first payment and abut 200 a month till its payed off from then on, i would not use my discover till its payed off.  

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You could get hit with transfer fees of about $75 or more depending on the terms of Amex. You could call Discover and see if they have a problem with your charge. If you throw a couple hundred/mo at the balance it will shrink fast.

[AzaleaB]

Maybe you could try asking for a CLI (SP) on your Discover. 

[Anonymous]

Your utilization will still be the same even though one card is at 75%. I would just leave it alone and pay your purchase back as you had originally planned. Just don't charge anything else on Discover until you pay it down considerably. 

I had a M/C with my mom in the past with a $30,000 limit that I exclusively used with a 70-80% utilization and double to quadruple the minimum payments monthly and she had a FICO score of a little over 800.

You will be fine. As the op said there is a fee to do a transfer. 

[onstar]

AFAIK, the 0% introductory APR on the Amex Blue Cash is only for purchases, not for balance transfers. So if you do a BT from Discover to Amex, not only do you get hit with a BT fee (3%), you also have to pay monthly interest. Leaving it with Discover, you pay 0% interest (just make sure you pay off the entire balance before the promo period ends).

I agree with Swampy99. Just leave it alone. No sense paying BT fee + monthly interest by doing a BT.

[ojefferyo]

Having a high utilization on one card will affect the score some, to what degree all the depends on your profile and what other things you have on there.