Credit card transfers for high balances?

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
3 posts
big tony
Green Member
Green Member
 
Posts: 3
Joined: Sat Jan 29, 2011 6:55 pm
Location: Florida

Credit card transfers for high balances?

Postby big tony » Sat Jan 29, 2011 7:07 pm

How much can you do with a credit card balance transfer? I have great credit and would like to transfer a high balance of around $21,000. A few years ago I had a couple credit cards with credit limits ranging from 35 to 45 thousand but those have since been cut. If I apply for a credit card during 2011 what can I expect to get as my credit line. Do you think if i apply and in the box that asks if you have any balance transfers, I enter $21,000, will it go through?


bubblebusteconomy
Green Member
Green Member
 
Posts: 20
Joined: Sun Jan 30, 2011 2:27 am
Location: The United States of Greed

Postby bubblebusteconomy » Sun Jan 30, 2011 2:53 am

I have a question for you. What about paying it off? What is your goal? To keep playing the credit card transfer game year after year on your high balance and never pay it?

If I were big Tony, I would spend my time figuring out how to pay off the debt rather than strategizing schemes to shuffle it around and play musical chairs with it.
Cards: NONE!

User avatar
Mogul of Pineapples
Centurion Member
Centurion Member
 
Posts: 1271
Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Mon Jan 31, 2011 1:23 am

How do you know he isn't doing the transfer for strategic purposes? Some do balance transfers to float the money and earn interest on it before paying it back. You don't know what the original poster's motive is.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



Return to “Finance Charges & APR Compare”

Who is online

Users browsing this forum: CreditCardGuru and 0 guests