@Anonymous wrote:Hi, I am fairly new to this forum. ANy questions I have asked before everyine has always been extremely helpful and thorough and I appreciate that. Right now I have a question that may seem a bit naive that I dont know the answer to. I keep hearing about balance transfers and people transferring one card to another? I am carrying a balance on my capital one mastercard of $1500 and my credit limit for that is $3500.
my question is if I wanted to do a balance transfer how would I go about doing this? You just request it to be done either by phone or online. BTs cannot be done internally with the same creditor so you would be moving the balance to a different creditors card. Does this mean applying for an entirely new card? Doesnt have to be if you already have cards that you can BT on to. If you are apping for another card you just request the BT at time of app if they are offering a deal for it.
i had my eye on the chase slate for some reason. i d not have ay chase cards. last month I had my bankruptcy finally removed from all 3 credit bureaus. I currently have an amazon card with an $1800 credit limit. They just gave me a $400 automatic increase a few days ago. I carry no balance on that. I have a Kay jewelers with a $7,700 limit no balance, I have a Victoria Secret with a $980 credit limit and I have a Capital one Journey Visa $2500 with a 700 balance. So if I did a balance transfer, does that mean i will no longer have my Capital one mastercard? No, the card would still be active with a lowered balance.
Im sorry I apologize, its just a bit confusing to me. I would appreciate it if someone could explain to this patient lady how balance transfers work. Once again I would appreciate and and all advice!! By the way my fico scores are 736-Experian and Transunion-743 and Equifax-740. these fico scores I obtained from the sites
