Credit Tips: Credit Card Balance Transfers and Preaprovals

Posted On: July 1, 2006

Author: ajulius
Posted: Tue Jun 13, 2006 1:25 am
Post subject: Credit card balance transfers and preapprovals

Hello. I just reallocated my credit limits so now my utilization is under 50% and I got a lower rate to boot.

I just received in the mail (before I reallocated and was using 90% limit of 2 cards) a 0% for 15 mths offer. It says it can change at anytime though on this one though. I wonder if they will honor the 0% for 15 mths or will approve me for the card and jack me up.

I also dont even know what balance transfer amount to put since my other card with them is a 20k limit with 15k used as per the credit report since the new transfer and reallocation wont show for a few months.

I dont want to ask for a very high balance transfer only to be denied or giving fees and/or a high rate since its a 0% for 15 mths.

Author: mouse
Posted: Tue Jun 13, 2006 1:29 am
Post subject: Re: Credit card balance transfers and preapprovals

Quote:

“ajulius”
Hello. I just reallocated my credit limits so now my utilization is under 50% and I got a lower rate to boot.

I just received in the mail (before I reallocated and was using 90% limit of 2 cards) a 0% for 15 mths offer. It says it can change at anytime though on this one though. I wonder if they will honor the 0% for 15 mths or will approve me for the card and jack me up.

I also dont even know what balance transfer amount to put since my other card with them is a 20k limit with 15k used as per the credit report since the new transfer and reallocation wont show for a few months.

I dont want to ask for a very high balance transfer only to be denied or giving fees and/or a high rate since its a 0% for 15 mths.

You DON’T change the APR on a 0.00% BT mid deal

(unless you are late or over-limit or bounce a payment check)

Author: ajulius
Posted: Tue Jun 13, 2006 1:35 am
Post subject: Credit Card Balance Transfers and Preaprovals

You thought I was transferring from another 0% or are you saying the bank will honor it?

If they wont jack me up, then the question is: How do I determine how much to transfer since I dont know my limit in advance. I want to take advantage of the maximum of it I can since its a great deal.

Author: EasyRhino
Posted: Tue Jun 13, 2006 7:49 am
Post subject: Credit Card Balance Transfers and Preaprovals

Some think that requesting a large BT at time of application will tend to increase the credit limit you’re granted. I think they might be right, probably depends on the bank.

The only way this would backfire is if there is a minimum fee on the BT, and they only approve you for a tiny tiny credit limit that would make the fee look ridiculous