Can I get another credit card from the same company for balance transfer?
Guest: Alexis Rios
Credit Expert (100+ Posts)
Post subject: Can I get another credit card from the same company for balance transfer?
Posted: Fri Apr 14, 2006 1:35 pm
lowloan wrote:
"Congrats lowloan , also consider to apply for a new Chase credit card in the future about 6-9 months after your credit limit increase ."
Why do say that. Is there a specific reason.
Can you tell me how can I take advantage of that.
And also let me ask the group, if I get another card from Chase in the enxt year, can I do a balance transfer from my current CHase card to the second chase card.
sometimes banks would grant you another credit limit increase or another credit card account between 6-9 months usually (to avoid any rejection from the issuer). However you can't use for BT's with accounts from the same issuer unless you're using your checking account to make BT's (thatis , sent a BT from card 1 to your checking account and then pay your card 2 using your checking account in the moment when appears the BT in your checking account)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: lowloan
Posted: Fri Apr 14, 2006 1:53 pm
Alexis,
Thank you for the reply.
As of now I have three cards
1. Amex - $19000/- Limit
2. Chase VISA - $20,000 Limit
3. Credit Union VISA - $2500/- Limit
How will it affect my FICO if I apply for one more card int he 6 - 9 months as you suggest.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Alexis Rios
Credit Expert (100+ Posts)
Posted: Fri Apr 14, 2006 2:38 pm
lowloan wrote:
Alexis,
Thank you for the reply.
As of now I have three cards
1. Amex - $19000/- Limit
2. Chase VISA - $20,000 Limit
3. Credit Union VISA - $2500/- Limit
How will it affect my FICO if I apply for one more card int he 6 - 9 months as you suggest.
It depends in which credit report agency will be reviewing(and hence a hard inquiry) , you could check this site: http://www.whogavemecredit.com/ to check your credit card choices and the CRA that will be reviewing. 6-9 months is sometimes that minimum time that you can request a credit limit increase or for a new credit application without the chances of being rejected and also to avoid a sudden decrease of your average credit history.
Last edited by Alexis Rios on Fri Apr 14, 2006 2:43 pm; 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: Alexis Rios
Credit Expert (100+ Posts)
Posted: Fri Apr 14, 2006 2:42 pm
Generally there's a decrease of 2-3 points(of your credit score) in one of the CRA's which the credit card issuer are reviewing . But as soon ,the new account appears in your report you're likely to gain 2-3 points in your credit reports.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: lowloan
Posted: Fri Apr 14, 2006 2:48 pm
Thank you. Its a nice site.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Credit Expert (100+ Posts)
Post subject: Can I get another credit card from the same company for balance transfer?
Posted: Fri Apr 14, 2006 1:35 pm
lowloan wrote:
"Congrats lowloan , also consider to apply for a new Chase credit card in the future about 6-9 months after your credit limit increase ."
Why do say that. Is there a specific reason.
Can you tell me how can I take advantage of that.
And also let me ask the group, if I get another card from Chase in the enxt year, can I do a balance transfer from my current CHase card to the second chase card.
sometimes banks would grant you another credit limit increase or another credit card account between 6-9 months usually (to avoid any rejection from the issuer). However you can't use for BT's with accounts from the same issuer unless you're using your checking account to make BT's (thatis , sent a BT from card 1 to your checking account and then pay your card 2 using your checking account in the moment when appears the BT in your checking account)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: lowloan
Posted: Fri Apr 14, 2006 1:53 pm
Alexis,
Thank you for the reply.
As of now I have three cards
1. Amex - $19000/- Limit
2. Chase VISA - $20,000 Limit
3. Credit Union VISA - $2500/- Limit
How will it affect my FICO if I apply for one more card int he 6 - 9 months as you suggest.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Alexis Rios
Credit Expert (100+ Posts)
Posted: Fri Apr 14, 2006 2:38 pm
lowloan wrote:
Alexis,
Thank you for the reply.
As of now I have three cards
1. Amex - $19000/- Limit
2. Chase VISA - $20,000 Limit
3. Credit Union VISA - $2500/- Limit
How will it affect my FICO if I apply for one more card int he 6 - 9 months as you suggest.
It depends in which credit report agency will be reviewing(and hence a hard inquiry) , you could check this site: http://www.whogavemecredit.com/ to check your credit card choices and the CRA that will be reviewing. 6-9 months is sometimes that minimum time that you can request a credit limit increase or for a new credit application without the chances of being rejected and also to avoid a sudden decrease of your average credit history.
Last edited by Alexis Rios on Fri Apr 14, 2006 2:43 pm; 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: Alexis Rios
Credit Expert (100+ Posts)
Posted: Fri Apr 14, 2006 2:42 pm
Generally there's a decrease of 2-3 points(of your credit score) in one of the CRA's which the credit card issuer are reviewing . But as soon ,the new account appears in your report you're likely to gain 2-3 points in your credit reports.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: lowloan
Posted: Fri Apr 14, 2006 2:48 pm
Thank you. Its a nice site.
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 12:33 PM
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