Money Tips: Can I get a balance transfer from my credit card account to my checking account?

Written by carnold
Posted On: September 9, 2006

Guest: Evilbunny
Post subject: Can I get a balance transfer from my credit card account to my checking account?
Posted: Sat Sep 09, 2006 3:03 pm

with Chase your account has to be open at least 3 months, you have to be calling from the home phone number on file, and your risk score has to be low.

even if you meet all that, the option may not be available. you just have to call and ask.

Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sat Sep 09, 2006 5:19 pm

Evilbunny, can you tell us more about that risk score you mentioned? Is that bought by Chase or calculated by Chase? Any way for us mere mortals to find out the score or make a good guess at it? What risk score is needed for this service?

My momma told me there’s never any harm in asking!
_________________
Polonius
“Neither a borrower, nor a lender be; For loan oft loses both itself and friend”

Guest: Evilbunny
Posted: Sat Sep 09, 2006 6:57 pm

ahh, i am but a lowely peon. even as a supervisor, they do not tell me those kinds of things

here is what i figure:

the Credit Risk score is an internal Chase thing i do believe. and it is based on your credit score, payment history and i believe some transactions can cause it to go up

keep in mind, i dont know the formula, and i can only guess going by what i have seen.

though when i get to work tommorow i will see if i can find more information on it

i would love to be a credit analyst. lol

i can tell ya that if you want a credit limit of 100k what they look for.. hehehe. i got nosy and asked =)

income of 1.5 - 3 mill. exellent credit, and a million dollar mortage. Mmm, a girl can dream =)

Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sat Sep 09, 2006 7:21 pm

Thansk, Evilbunny.

I wonder about my own situation with Chase. I’ve had cards with Chase forever. I did some combining and reallocating last year, so now I have 4 personal Chase cards and one Business Chase card, with limits of $1,000, $1,000, $39,500, $45,500, and $15,000 respectively. So that’s $87,000 in personal credit lines and $15,000 in a business line, for a total of $102,000.

I’ve never claimed a household income of more than $150,000 per year. I don’t have a mortgage. I do have a HELOC with a $150,000 limit.

I just wonder how these numbers match up to those requirements you stated. Of course, I got all this credit a long time ago, when it was easier to get credit I guess.
_________________
Polonius
“Neither a borrower, nor a lender be; For loan oft loses both itself and friend”