adiaudi1211 wrote:I have a gold Amex, and I have about 15k on it. I was wondering if I can transfer the balance to a low APR card without hurting my credit score. And in the same time I don't want to apply for another card, since they will pull your credit history and that will add more inquires and lower your credit score. Is there is anyway I can take a loan from a credit union without pulling my credit history and pay off my card? or if there is anything else I could do?
Just for clarification, you state you've got the AMEX Gold and further in your reply, you state you're making minimum payments. Are you using the pay over time feature on the Gold card??
Without having a current credit card with a large enough credit limit, or not wanting to apply for a new card (and hard to get an initial CL of $15K), then a personal, unsecured loan would be one way to go. Take out the loan through your credit union, pay off the AMEX balance, and then start paying off that loan...early if you can. Yes, you will take a minor ding for the inquiry, but not so much of a ding for the new loan. Depending on whether you have other personal loans already, a personal loan can actually help you, your mix of credit, if you don't have one, and your score can be minimally impacted.
However, I don't see anything you can do without any sort of inquiry. You could try for an AMEX revolver, SP if denied/HP if approved. Whether you'd get a CL in excess of $15K remains to be seen, and even if you could, there could be utilization issues, which can carry more significant weight than an inquiry.