Credit Question
01-22-2003, 01:03 PM
#1
Senior Member
Thread Starter
Join Date: Aug 2002
Location: Denver, CO
Posts: 4,985
For anyone with more expierence than me.
I recieved a promotional offer to transfer balances to a 3.9% account for the life of the balance transfer. I would like to take advantage of this. How likely do you think I'll be able to get a high enough limit?
The card advertizes a minimum of $1000, max $15,000.
I have an sub-$12,000 loan for my car
Have had other large-balance credit that has been recently paid down.
I have ~$8500 of CC debt,
The balance transfers incur a 3% fee
The amount of the transfer must be less than 90% of my given limit on the new account.
I do not have late payments or slow pay or bankrupcy
I have a good credit history
I have been at my job for 2+ years and make good money (but less than $50k)
I am nearly 22 (Feb. 7th)
The way I see it, I'd need nearly $10,000 credit to do the transfers. Anyone have any experience they'd like to share??
I recieved a promotional offer to transfer balances to a 3.9% account for the life of the balance transfer. I would like to take advantage of this. How likely do you think I'll be able to get a high enough limit?
The card advertizes a minimum of $1000, max $15,000.
I have an sub-$12,000 loan for my car
Have had other large-balance credit that has been recently paid down.
I have ~$8500 of CC debt,
The balance transfers incur a 3% fee
The amount of the transfer must be less than 90% of my given limit on the new account.
I do not have late payments or slow pay or bankrupcy
I have a good credit history
I have been at my job for 2+ years and make good money (but less than $50k)
I am nearly 22 (Feb. 7th)
The way I see it, I'd need nearly $10,000 credit to do the transfers. Anyone have any experience they'd like to share??
01-22-2003, 01:36 PM
#7
Senior Member
Thread Starter
Join Date: Aug 2002
Location: Denver, CO
Posts: 4,985
Originally Posted by Baldy' date='Jan 22 2003, 01:34 PM
actually, I was serious....but trying to do my own search for a personal finance forum turns up a bunch of places that claim help, only to have a bunch of earn money ads...my bad
01-22-2003, 01:51 PM
#8
Super Moderator
Join Date: Sep 2002
Location: Tallahassee, FL
Posts: 5,425
Originally Posted by Sinful7' date='Jan 22 2003, 02:36 PM
Oh, sorry! I thought you were just joking! Thanks for the search effort, though!
01-22-2003, 01:52 PM
#9
Senior Member
Thread Starter
Join Date: Aug 2002
Location: Denver, CO
Posts: 4,985
Originally Posted by Baldy' date='Jan 22 2003, 01:51 PM
I just figured that whatever advice you get here might be skewed by personal experience, if that makes sense.
01-22-2003, 03:58 PM
#10
Super Moderator
Join Date: Feb 2002
Location: Amityville, New York
Posts: 12,288
lie to the credit card company and tell them you make $70000 a year, they dont ask for proof anyhow, this will help with your credit limit.
Call your current credit card companies and tell them you are thinking of trasfering the balance from thier card to someone elses with a much lower rate, 9 times out of 10 they will give you that rate rather then have you transfer your balance from them and then they get nothing.
By the way there should be no fee for transfering a balance, never heard of that one before.
Call your current credit card companies and tell them you are thinking of trasfering the balance from thier card to someone elses with a much lower rate, 9 times out of 10 they will give you that rate rather then have you transfer your balance from them and then they get nothing.
By the way there should be no fee for transfering a balance, never heard of that one before.