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Will banks/lenders see our balance transfers?

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Anonymous
Not applicable

Will banks/lenders see our balance transfers?

Just a thought and wanted to ask:  Will lenders/banks see when we do balance transfers on our credit report? Will lenders/banks frown when they see 1 or more balance transfers?

Message 1 of 15
14 REPLIES 14
takeshi74
Senior Contributor

Re: Will banks/lenders see our balance transfers?

You can always look at your own reports to see the data in them.  Transactions such as BT's are not indicated.  However, BT's will have an impact on reported balances.

Message 2 of 15
Anonymous
Not applicable

Re: Will banks/lenders see our balance transfers?


@takeshi74 wrote:

You can always look at your own reports to see the data in them.  Transactions such as BT's are not indicated.  However, BT's will have an impact on reported balances.


Thank you. When you say "impact on reported balances" is that a negative impact on our credit report or point deduction on our FICO scores? Will that trigger banks to look at our credit file more closely when they do soft pulls? 

Message 3 of 15
Anonymous
Not applicable

Re: Will banks/lenders see our balance transfers?

You can think of BT as normal spend. The more you transfer, the higher the credit card balance is. When balance is high (say, 30% of credit line), FICO scores starts to be negatively affected. When balance is really high (say, 99% of credit line), creditor might freak out and take adverse actions against your account.
Message 4 of 15
Anonymous
Not applicable

Re: Will banks/lenders see our balance transfers?

Got it. Thank you. So banks/lenders are able to see as Balance Transfers transactions then when they do soft pulls on our credit report since it's like a regular spend, right?

Message 5 of 15
kdm31091
Super Contributor

Re: Will banks/lenders see our balance transfers?

A BT will not show up as anything special. It will merely appear that you spent a lot on the card. Always be careful and keep your overall utilization as low as possible. If you find yourself needing to do BTs often, thats another issue and requires a hard look at your finances IMO
Message 6 of 15
Anonymous
Not applicable

Re: Will banks/lenders see our balance transfers?


@kdm31091 wrote:
A BT will not show up as anything special. It will merely appear that you spent a lot on the card. Always be careful and keep your overall utilization as low as possible. If you find yourself needing to do BTs often, thats another issue and requires a hard look at your finances IMO

Got it. Thank you. 
Thank you All for the replies Smiley Happy.

Message 7 of 15
Anonymous
Not applicable

Re: Will banks/lenders see our balance transfers?

Amex was able identify a BT I made and that was the sole reason for a CLI decline.
Message 8 of 15
Anonymous
Not applicable

Re: Will banks/lenders see our balance transfers?


@Anonymous wrote:
Amex was able identify a BT I made and that was the sole reason for a CLI decline.

Good info. Did you transfer from your Amex CC to another bank?

Message 9 of 15
Bman70
Established Contributor

Re: Will banks/lenders see our balance transfers?


@Anonymous wrote:
Amex was able identify a BT I made and that was the sole reason for a CLI decline.

They rarely have a sole reason, although they might tell you that. The entire profile gets looked at. Balances on all cards, FICO scores, payment history, any negatives, etc. 


EX 822
TU 834
EQ 820


Message 10 of 15
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