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BT or no?

Valued Contributor

Re: BT or no?

@Caardvark wrote:

I simply cannot imagine many scenarios where it would make sense NOT to balance transfer everything to the NFCU. And, the scenarios I can imagine are outliers. This is a no brainer. 

Agreed. And if you're concerned about Util, have you considered asking for a Navy CLI? Bump that 14K to 25K and you can have your cake and eat it too.

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (3/12/2021): FICO 08 EXP: 748; TU: 755; EQ: 773
2020 Goal Score: 760 across the board

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Message 11 of 14
Not applicable

Re: BT or no?

Saving interest is definitely good.

Keep in mind that depending on timing your utilization could have a very temporary spike up or down depending on timing of when balances post to new account and payments are posted to old accounts.

I believe that Chase will report to CRA’s when balance paid to zero so make sure you get to zero.


Navy Federal sends a physical check to issuers for balance transfers.

Message 12 of 14
Mega Contributor

Re: BT or no?

Be really careful that you don’t run out the clock on the BT offer. Navy takes a few days to post them, I would probably make my mind up today or tomorrow if it was me just to make sure I didn’t end up missing the promo. 

Message 13 of 14
Frequent Contributor

Re: BT or no?

I opted to transfer my CO balance over and leave the Chase Balance as is - which was the 2nd option given by SouthJamaica.   There's no difference in time payoff b/w that and transferring both over (either case would take 12 months), and it only increases my NFCU UTI to ~48% instead of 75%.   Chase is already almost under 20%.  The difference in interest is about $200, so either way still saving 1300-1500.


Thanks all for the suggestions.

Message 14 of 14
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