Credit Card Balance Transfers and Preapprovals
Guest: 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.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Jun 13, 2006 1:29 am
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)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ajulius
Posted: Tue Jun 13, 2006 1:35 am
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.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: EasyRhino
Posted: Tue Jun 13, 2006 7:49 am
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.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Jun 13, 2006 10:06 am
Quote:
"EasyRhino"
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.
We got a credit limit of exactly $100 over the BT amount requested on the application on a BofA card
EXAMPLE
$9,500 BT REQUESTED
$9.600 CREDIT LIMIT
Guess...had no BT been requested the credit limit may have been lower
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Jun 13, 2006 1:29 am
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)
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: ajulius
Posted: Tue Jun 13, 2006 1:35 am
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.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: EasyRhino
Posted: Tue Jun 13, 2006 7:49 am
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.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Tue Jun 13, 2006 10:06 am
Quote:
"EasyRhino"
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.
We got a credit limit of exactly $100 over the BT amount requested on the application on a BofA card
EXAMPLE
$9,500 BT REQUESTED
$9.600 CREDIT LIMIT
Guess...had no BT been requested the credit limit may have been lower
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 2:17 PM
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