Balance Transfer – Somewhat complicated

Balance Transfer – Somewhat complicatedBalance Transfer – Somewhat complicated
Warrenseene asked 5 years ago

Hello All,


Current scores 700, 750 and 689 (the latter is due to an error at TU which is being corrected)


I have a Chase card that just went up from promotion 0.00% to 14.24% balance $ 4,231 against limit of $ 8900, a BoA card at 0% promotional rate with $ 13k against a $ 15k limit.


So I get a BT offer from Chase, call to inquire and get the balance increased to $ 15k.


I take a BT from the Chase of $ 10k to reduce the BoA to $ 3k. My plan is to wait 30 days or whenever the space is freed up on BoA and then use a current BoA promotion of 0% to do a BT on the Chase card of $ 7,500. I currently pay 3 times the amount due on both cards so I should have enough room to bring both down to 50% at 0% through 2016…and use the lower payments to pay down both cards.


I’m thinking I should probably ask for a credit line increase to the BoA just before doing the BT to Chase, since the BoA balance will be only $ 3k then.


Does anyone see any holes I have missed. I tried putting this on paper and making sure it makes sense….but honeslty I’d like to see what you folks think.


Thanks for taking a look at this.


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