Need a new credit card: balance transfer secret?

SoftwareEng

Senior member
Apr 24, 2005
553
4
81
Hi guys and ladies, I need some financial advice, please.

I need to get a new credit card for a balance transfer (say, $5,000), so I'd like as large a Credit Limit as possible. Question is, should I tell them WHY I'm wanting to get a new card? (thinking about calling rather than applying online). Meaning, am I more likely to get the largest possible CC limit if I mention wanting to transfer the balance to it, or if I say nothing about it?

Thanks so much!
 

AznAnarchy99

Lifer
Dec 6, 2004
14,695
117
106
There are certain cards that basically advertise for cheap balance transfer offers. If you google "Balance Transfer Credit Cards" you'll find a list of recommended ones.
 

jaedaliu

Platinum Member
Feb 25, 2005
2,670
1
81
They don't really care why you want the card. They typically give you the largest limit they're allowed to based on your credit report. When you call, just ask for the largest limit they can give you (if for some reason they don't do that right off)

Most companies charge 3% up front for a balance transfer. Make sure it's worth it for you to pay the 3%. Or, look for one with a reduced fee, but I'm pretty sure 3% is standard.
 

Tweak155

Lifer
Sep 23, 2003
11,448
262
126
I tried to do a 0% BT fee once. Pwned myself because I didn't realize it was the same company at the time. So they approved the card but denied the BT. Sucked... to avoid paying interest I threw down like $7500 on one payment.

I've yet to get charged a single cent of CC interest to this day.
 

JM Aggie08

Diamond Member
Jan 3, 2006
8,225
844
136
Keep an eye out for free balance transfer + 0%APR for 12 mos. I did this with the Chase Slate to pay off my college credit card after graduation.
 

Scarpozzi

Lifer
Jun 13, 2000
26,389
1,778
126
I'm a fan of AMEX Blue....just becasue of their buyer protection and customer service.

They used to send me blank transfer checks every now and then...to do a balance transfer, you just filled out the check and send it to the company of the card you want to pay off.

I never used it, but it seemed like it could be an easy process.
 

AznAnarchy99

Lifer
Dec 6, 2004
14,695
117
106
Keep an eye out for free balance transfer + 0%APR for 12 mos. I did this with the Chase Slate to pay off my college credit card after graduation.

I got a Chase Slate too. Its basically just useful for balance transfers and nothing else. They gave me 30 days no balance transfer fees with 18 months no interest. Limit wasn't too high though.
 

Franz316

Senior member
Sep 12, 2000
987
467
136
Citi Simplicity cards have 18months 0% for balance transfers with a 3% fee(I think).
 

JM Aggie08

Diamond Member
Jan 3, 2006
8,225
844
136
I got a Chase Slate too. Its basically just useful for balance transfers and nothing else. They gave me 30 days no balance transfer fees with 18 months no interest. Limit wasn't too high though.

Exactly. I think they gave me like $1500, which was more than enough for what I had. Paid it off in full 2 months later with my tax return. It hasn't been touched since.
 

Vdubchaos

Lifer
Nov 11, 2009
10,408
10
0
Over the years I found Citi to be the best.

they have 12-18 month offers, no annual fee and 3% transfer fee

Tough to get much better than that.
 

funlol

Junior Member
Nov 12, 2013
5
0
0
chase always sends me offers in the mail for free balance transfers. i just always threw them away because i always assumed those credit card things would always come back to get you in the long run anyways
 

JeepinEd

Senior member
Dec 12, 2005
869
63
91
chase always sends me offers in the mail for free balance transfers. i just always threw them away because i always assumed those credit card things would always come back to get you in the long run anyways

A few years ago, I consolidated my cards over to Chase. They were offering me 4% permanent interest on all balance transfers. I later received a letter from Chase telling me that I either have to let them increase my interest rate to 10%, or they would increase the minimum payment by 300%. I told them I'll keep the 4%.

I paid that card off & will never use Chase again.
 

RossMAN

Grand Nagus
Feb 24, 2000
78,817
323
136
another vote for Chase Slate. I got them over the summer. 0% interest for 18 months and NO balance transfer fee.

https://creditcards.chase.com/credit-cards/slate.aspx

WTF a useful post from SE? What is the world coming to?

I second/third/fourth this recommendation, how can you argue with borrowing money for free for 1.5 years? There are dozens of 0% offers however most of them get you with the fine print (3-5% BT fee), but the Chase slate has 0% with no BT fee.

Doooooooo it.