@Anonymous wrote:
Hi all - been a while since I posted here.
When I began I had scores in 600's now 5 years later I own a home and got 3% on my home loan (SUNYMA)
and have scores touching 800.
I had to make some repairs on my house and need some help doing balance transfers.. and is it even possible.
NCFU - offering 0% promo 12 mo w.no BT fee.
current: $2k - promo expires 02/21/18 + $4k - promo expires 04/22/18 with 22k max limit on visa
PENFEX - offering 4.99% promo 12 mo w.no BT fee
@current: PLOC $7k@11.50% + Promise Visa $6,700 @8.99%, with 40k max limit on Promise Visa
(also my visa will be 1 year old on 1/27/18 - should I ask for APR decrease then?)
So looking at my data- is it possible to do something like this to get my interest rates down (Especially PenFed PLOC)
- @Anonymous 6k from NFCU to Penfed @ 4.99%apr
- @Anonymous 14k from PenFed to NFCU @ 0%apr (puts me at over 50% cli)
- BT some amount from NFCU back to Penfed to get my utilization down?
- PS I my NFCU card is 1 year old at 01/27/18
TYVM
I would do the following, keeping in mind you want to avoid either card reporting anything other than your final desired balances. Transfer all $14K to NFCU. Once that BT clears and your PenFed shows $0, transfer the entire $20K to PenFed. Once your NFCU reports $0, then transfer $11,500 back to NFCU.
Again, timing with statements would be key. You don't want NFCU to post with $20K of usage! You shouldn't have any problems as long as you aren't CONSTANTLY moving money around, or involving cash advances in the process.
I recently did a similar shuffle between NFCU and my Venture.
Total Cards: 24 | Total Limit: $304,250
Current FICO 8 Scores: EQ: 841| TU: 815 | EX: 814
Hard Inquiries: 1
