This is what I hate. Whenever you apply for a new card the credit limit is always low, especially if it's a bank/financial institution you've never had a relationship with.
I just opened up a card and low and behold the credit limit they gave me was just $4100. I've never had a late payment in my life and always have kept balances below 30% of my credit limit. $4100 is lower than any of my other cards and a couple of my cards have CL's of $13,100 and $26,500. As you can imagine I was pretty pissed about getting a CL of only $4100.
I called them up today and canceled the balance transfer amount because it would have been more than 50% of that small credit limit. That would actually hurt my credit and not be worth the 0% especially when it was transferred from a card with an 8% normal APR.
Does anyone know any way around these things? I'm not carrying much debt and I actually could pay it off right now if I liquidated some investments. The thing is I don't want to. I'd rather transfer it to a 0% APR card with an intro rate or transfer it to a card that has a very low normal interest rate of 6 or 7%. I have good enough credit for it but you're always stuck with that low CL when you open up a new card. I've seen this on my family's accounts too when they open cards. They always give you a crappy limit to start off with.