Credit Card with Best Balance Transfer Offer
Guest: ore83
Post subject: Credit Card with Best Balance Transfer Offer
Posted: Fri Feb 03, 2006 12:29 am
Hey every one, I've been lurking in the shadows for a while now but I had a couple questions and finally worked up the courage to post. I'll give you my info then the question...
Credit scores: 683, 687, 692
3 credit cards, Lowe's, and 2 BofA's, limits $1k, $4k, $3.5K
The only one with a balance is the $4k limit one that I had to do an emergency cash advance on ($1k), now the balance sits around $2.5k and I'm worried that the balance might be high considering the limit. I don't want to pay the cash advance rate so I was considering a BT on a new card. Problem is my friend did that and the card issuer only gave them a little more than the BT as the credit limit and made it look nearly tapped out...
Any suggestions on good card issuers regarding BTs and credit lines? I'm 18 and don't want to screw anything up this early on so anything will help! Thanks
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: beyond platinum
Credit Expert (100+ Posts)
Posted: Fri Feb 03, 2006 1:33 am
I'm glad you used the word "emergency" to rationalize taking out a cash advance on your card because that is one of the worst mistakes to make. When you apply for a new credit card, one thing creditors are going to look at are your current credit limits and then decide how much to give you. You already have a utilization of 63% and I imagine that your payments are going to the lowest APR instead of the cash advance APR first (19-25%??) right?
It is very uncertain how much of credit limit you will get if you apply for new credit card so you run the risk of increasing your utilization ratio but think about the money your going to save on interest charges if you transfer that amount to a 0% intro card.
I would suggest Chase Visa or American Express Blue because they have long intro rates and easier approval.
https://www201.americanexpress.com/cards/Applyfservlet?csi=38/9341/b/57/0334763299/033232134386/0/n
http://www.chase.com/ccp/index.jsp?pg_name=ccpmapp/card_acquisitions/unsolicited/page/PFSCreditCardDetails&sourcecode=4W65
_________________
"The most incomprehensible thing about the world is that it is comprehensible." --Einstein
Last edited by beyond platinum on Mon Feb 06, 2006 11:56 am; edited 1 time in total
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: JaneiR36
Credit Expert (100+ Posts)
Posted: Fri Feb 03, 2006 5:22 am
I myself favor anything Citibank
Not sure if you're in college or anything equally demanding of your time but don't forget to work your little heiney off and give every spare dime to the CC companies! They basically own you now but trust me it's so important to learn this lesson now as against later.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Fri Feb 03, 2006 9:51 pm
I applied for AMEX Blue, a recent address change I think might be throwing them off. They replied by email saying they needed home address verification. My change of addy hasn't hit my report just yet... I wonder if them replying with wanting to know that might be a good sign I got the card? Anyway, the office was closed for the weekend... Can't wait till Monday lol
They were 3.99% on BT for the life of the balance, better than 0% for 6 months, or even a year if it happens to take me that long to pay it off... AND WAY better than the 20 something % I'm going to get dinged with on my cash advance with BofA. Thanks for the advice
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Mon Feb 06, 2006 11:55 pm
I was approved for Blue, AMEX! I'm excited. The only problem was that I wanted to do a $2.5k BT and they only gave me a $2k line. The lady (who was very nice, I wonder if ALL amex people are?) said she'd do a BT of $2k and said when my card comes in and I call to activate it, go ahead and ask for a CLI as well, that way I can either get my other $500 on it or at least not have a 'maxed' out card. Either way their 3.99% for the life of the balance sure beats whatever my cash advance rate was on my other card. Thanks for the advice...
PS: Curtis,
I found the website while doing a search for credit cards, it was really neat to find a place where people as nutty as me about credit existed!
Leo
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: beyond platinum
Credit Expert (100+ Posts)
Posted: Tue Feb 07, 2006 4:16 am
Congratulations Leo , try to get more than a $500 increase. Better to have a $3000 limit instead so that you are not at 100% utilization. Keep us informed as to the results.
_________________
"The most incomprehensible thing about the world is that it is comprehensible." --Einstein
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Tue Feb 07, 2006 8:40 am
Congrats Leo! Let us know how things turn out...
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Tue Feb 07, 2006 8:06 pm
While headed home today I decided to apply at a local credit union for their Visa, I hear they're pretty easy to get approved. I had to become a member ($5) and open a savings acct with a min of $25, but I was approved with a $2,000 limit, they told me my beacon score was 710, they seemed surprised... Heh, I was too because the credit monitoring place I go through all posted scores of high 600s...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Wed Feb 08, 2006 9:24 am
You're on a roll Leo!
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Fri Feb 24, 2006 1:15 am
Does anybody have any info on One, from AMEX? I was just approved for it and wanted to know if anybody out there has any experiences to share? I couldn't find the card in the card review section....
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Posted: Tue Feb 28, 2006 1:26 am
ore83 wrote:
Does anybody have any info on One, from AMEX? I was just approved for it and wanted to know if anybody out there has any experiences to share? I couldn't find the card in the card review section....
amex blue is one of the best cards out there. customer serivice is A+++
they raise cl often. my wife's card was at $8600, paid her bill on-line, clicked the raise cl, then it asked for the 4 digit security #, bam, we can raise it 5k, accept or decline. my wife has her own amex account and so do i. we have a joint visa card w/our credit union w/a 30k limit.
all her credit scores are in the mid-high 700's. mine are in high 600's low 700's. she's 25, i am 29. i had some previous collections, but all were paid back in 2002.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Tue Feb 28, 2006 1:29 am
Yeah my AMEX Blue was raised from 2k to 5k when i activated it, what I didn't like was the fact that they asked what limit I wanted... I hear a lot of people saying they offer amounts or tell you what you're 'eligible' for but I've always had to pick a number and hope it wasn't asking for too much. I think now that I'm online with AMEX after my statement I'll try doing an increase again... Did you pick an amount or did it offer an amount? Still awaiting my One from AMEX ....
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Posted: Tue Feb 28, 2006 1:32 am
no, they picked the amount. i believe you can ask amex for a cl increase every 90 days
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Tue Feb 28, 2006 1:35 am
The reps told me it was once a month... The neat part for me was the fact that you could get a CLI upon activation, totally neat, AMEX rocks for credit lines. They don't fool around unlike some stories i've heard from CrapOne...
So online IT picks the amount? That's good to know
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Credit Card with Best Balance Transfer Offer
Posted: Fri Feb 03, 2006 12:29 am
Hey every one, I've been lurking in the shadows for a while now but I had a couple questions and finally worked up the courage to post. I'll give you my info then the question...
Credit scores: 683, 687, 692
3 credit cards, Lowe's, and 2 BofA's, limits $1k, $4k, $3.5K
The only one with a balance is the $4k limit one that I had to do an emergency cash advance on ($1k), now the balance sits around $2.5k and I'm worried that the balance might be high considering the limit. I don't want to pay the cash advance rate so I was considering a BT on a new card. Problem is my friend did that and the card issuer only gave them a little more than the BT as the credit limit and made it look nearly tapped out...
Any suggestions on good card issuers regarding BTs and credit lines? I'm 18 and don't want to screw anything up this early on so anything will help! Thanks
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: beyond platinum
Credit Expert (100+ Posts)
Posted: Fri Feb 03, 2006 1:33 am
I'm glad you used the word "emergency" to rationalize taking out a cash advance on your card because that is one of the worst mistakes to make. When you apply for a new credit card, one thing creditors are going to look at are your current credit limits and then decide how much to give you. You already have a utilization of 63% and I imagine that your payments are going to the lowest APR instead of the cash advance APR first (19-25%??) right?
It is very uncertain how much of credit limit you will get if you apply for new credit card so you run the risk of increasing your utilization ratio but think about the money your going to save on interest charges if you transfer that amount to a 0% intro card.
I would suggest Chase Visa or American Express Blue because they have long intro rates and easier approval.
https://www201.americanexpress.com/cards/Applyfservlet?csi=38/9341/b/57/0334763299/033232134386/0/n
http://www.chase.com/ccp/index.jsp?pg_name=ccpmapp/card_acquisitions/unsolicited/page/PFSCreditCardDetails&sourcecode=4W65
_________________
"The most incomprehensible thing about the world is that it is comprehensible." --Einstein
Last edited by beyond platinum on Mon Feb 06, 2006 11:56 am; edited 1 time in total
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: JaneiR36
Credit Expert (100+ Posts)
Posted: Fri Feb 03, 2006 5:22 am
I myself favor anything Citibank
Not sure if you're in college or anything equally demanding of your time but don't forget to work your little heiney off and give every spare dime to the CC companies! They basically own you now but trust me it's so important to learn this lesson now as against later.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Fri Feb 03, 2006 9:51 pm
I applied for AMEX Blue, a recent address change I think might be throwing them off. They replied by email saying they needed home address verification. My change of addy hasn't hit my report just yet... I wonder if them replying with wanting to know that might be a good sign I got the card? Anyway, the office was closed for the weekend... Can't wait till Monday lol
They were 3.99% on BT for the life of the balance, better than 0% for 6 months, or even a year if it happens to take me that long to pay it off... AND WAY better than the 20 something % I'm going to get dinged with on my cash advance with BofA. Thanks for the advice
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Mon Feb 06, 2006 11:55 pm
I was approved for Blue, AMEX! I'm excited. The only problem was that I wanted to do a $2.5k BT and they only gave me a $2k line. The lady (who was very nice, I wonder if ALL amex people are?) said she'd do a BT of $2k and said when my card comes in and I call to activate it, go ahead and ask for a CLI as well, that way I can either get my other $500 on it or at least not have a 'maxed' out card. Either way their 3.99% for the life of the balance sure beats whatever my cash advance rate was on my other card. Thanks for the advice...
PS: Curtis,
I found the website while doing a search for credit cards, it was really neat to find a place where people as nutty as me about credit existed!
Leo
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: beyond platinum
Credit Expert (100+ Posts)
Posted: Tue Feb 07, 2006 4:16 am
Congratulations Leo , try to get more than a $500 increase. Better to have a $3000 limit instead so that you are not at 100% utilization. Keep us informed as to the results.
_________________
"The most incomprehensible thing about the world is that it is comprehensible." --Einstein
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Tue Feb 07, 2006 8:40 am
Congrats Leo! Let us know how things turn out...
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Tue Feb 07, 2006 8:06 pm
While headed home today I decided to apply at a local credit union for their Visa, I hear they're pretty easy to get approved. I had to become a member ($5) and open a savings acct with a min of $25, but I was approved with a $2,000 limit, they told me my beacon score was 710, they seemed surprised... Heh, I was too because the credit monitoring place I go through all posted scores of high 600s...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Posted: Wed Feb 08, 2006 9:24 am
You're on a roll Leo!
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Fri Feb 24, 2006 1:15 am
Does anybody have any info on One, from AMEX? I was just approved for it and wanted to know if anybody out there has any experiences to share? I couldn't find the card in the card review section....
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Posted: Tue Feb 28, 2006 1:26 am
ore83 wrote:
Does anybody have any info on One, from AMEX? I was just approved for it and wanted to know if anybody out there has any experiences to share? I couldn't find the card in the card review section....
amex blue is one of the best cards out there. customer serivice is A+++
they raise cl often. my wife's card was at $8600, paid her bill on-line, clicked the raise cl, then it asked for the 4 digit security #, bam, we can raise it 5k, accept or decline. my wife has her own amex account and so do i. we have a joint visa card w/our credit union w/a 30k limit.
all her credit scores are in the mid-high 700's. mine are in high 600's low 700's. she's 25, i am 29. i had some previous collections, but all were paid back in 2002.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Tue Feb 28, 2006 1:29 am
Yeah my AMEX Blue was raised from 2k to 5k when i activated it, what I didn't like was the fact that they asked what limit I wanted... I hear a lot of people saying they offer amounts or tell you what you're 'eligible' for but I've always had to pick a number and hope it wasn't asking for too much. I think now that I'm online with AMEX after my statement I'll try doing an increase again... Did you pick an amount or did it offer an amount? Still awaiting my One from AMEX ....
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Posted: Tue Feb 28, 2006 1:32 am
no, they picked the amount. i believe you can ask amex for a cl increase every 90 days
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ore83
Posted: Tue Feb 28, 2006 1:35 am
The reps told me it was once a month... The neat part for me was the fact that you could get a CLI upon activation, totally neat, AMEX rocks for credit lines. They don't fool around unlike some stories i've heard from CrapOne...
So online IT picks the amount? That's good to know
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 2:09 PM
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