Balance Transfer Credit Card Advice From Experienced People
Author: taz86
Posted: Sun May 06, 2007 5:54 pm
Post subject: people who have done BT's
does doing a balance transfer lower score at all just curious
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: mouse
Posted: Sun May 06, 2007 6:00 pm
Post subject: Re: people who have done BT's
taz86 wrote:
does doing a balance transfer lower score at all just curious
It may for a month or two
Say you do $5,000 with BofA and CITIBANK
One will be $5,000 less
One will be $5,000 more
THE SCORE IS THE SAME AFTER BOTH BALANCES UPDATE
Saving interest money is MORE important than a STINKIN' SCORE
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: taz86
Posted: Sun May 06, 2007 6:13 pm
Post subject:
thanks... but im just trying to learn about credit / loans like the do and don't cause I want to save money and have a good score like I said in my other post I want a house by 30 no later then 35
Author: TomfromCT
Posted: Sun May 06, 2007 6:51 pm
Post subject:
lets say you BT 5k off of a 20k limit card because a promo rate you had ended.
You move the 5k to a 6k limit card with a much better rate.
You make out financially. You suffer a bit on the score side. so what.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: mouse
Posted: Sun May 06, 2007 7:36 pm
Post subject:
I have done probably 50+ BT's
Maybe 100+
Saving money on the APR is more important than any tempory score loss
You can use that FICO money for a STEAK DINNER FOR TWO AT A DECENT RESTAURANT
You could also pay less in that interest "IF" you use that FICO money to pay down your highest APR card
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Sun May 06, 2007 5:54 pm
Post subject: people who have done BT's
does doing a balance transfer lower score at all just curious
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: mouse
Posted: Sun May 06, 2007 6:00 pm
Post subject: Re: people who have done BT's
taz86 wrote:
does doing a balance transfer lower score at all just curious
It may for a month or two
Say you do $5,000 with BofA and CITIBANK
One will be $5,000 less
One will be $5,000 more
THE SCORE IS THE SAME AFTER BOTH BALANCES UPDATE
Saving interest money is MORE important than a STINKIN' SCORE
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: taz86
Posted: Sun May 06, 2007 6:13 pm
Post subject:
thanks... but im just trying to learn about credit / loans like the do and don't cause I want to save money and have a good score like I said in my other post I want a house by 30 no later then 35
Author: TomfromCT
Posted: Sun May 06, 2007 6:51 pm
Post subject:
lets say you BT 5k off of a 20k limit card because a promo rate you had ended.
You move the 5k to a 6k limit card with a much better rate.
You make out financially. You suffer a bit on the score side. so what.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: mouse
Posted: Sun May 06, 2007 7:36 pm
Post subject:
I have done probably 50+ BT's
Maybe 100+
Saving money on the APR is more important than any tempory score loss
You can use that FICO money for a STEAK DINNER FOR TWO AT A DECENT RESTAURANT
You could also pay less in that interest "IF" you use that FICO money to pay down your highest APR card
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Labels: Balance Transfer Credit Card Tips, Does a Balance Transfer Lower Overall Credit Score?
posted by CardRatings.com at 3:22 PM
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