Looking for balance transfer card (someone who gives high limits) recommendations which report from either experian/equifax as my application on my journey from going from the 500's to hopefully 800s someday. My plan is to get as much as possible available low interest credit to then transfer all my high interest credit where I plan to pay it off over next 1.5 years. Just recently, NFCU gave me a second platinum card for $16,700 (0.99% BTC for one year terms, no fees) which I plan to eventually use when i get my ducks in a row. Also, just afterwards, I got a CLI increase on my discover card (14,500 to 17500). This upcoming May 2nd, I'm eligible to apply for CLI with my first NFCU platinum card, which I'm hoping (if I can get something decent) it will give me a bump that will further drive down my utilization score, thus improving my FICO. Navy Federal has been an angle to me, I think i might have been forced to declare bankruptcy if it weren't for them. Current CC Cards: Capital one quicksilver (27.65%) 0 /5,000 Capital quick one (27.65%) 0 /2,300 Venture (22.74%) 23,226 /30,000 Chase (27.5%) 0 /10,000 Citi (0% until July) 1,980 /3,000 Discover (16.74%) 10,513 /17,500 NFCU visa (0.99% until June) 1,820 /7,500 NFCU visa 0.99% offer 1 year 0 /16,700 barclay (closed, apr 27.74%) 7,184 /8,250 Not counting Barclay I have $37,539 in unsecured credit card debt and 92,000 in available credit (Barclay isn't showing in those categories now but it's still high interest that's piling up). Aggregate Utilization (when new card finally gets updated on reports) = 40.8% Just a couple weeks ago, my aggregate utilization was above 65%. My Experian hasn't been updated w/ the newly utilization data yet, FICO8 currently is at 696. I'm assuming my FICO will go up even with the new inquiry once it shows my utilization is under 50% now. I might be able to get it below 30% if I can get a few CLI's and another card/etc. I also got my venture card just couple days ago under 79% individual utilization, not sure if that counts for anything though. I have the money to get CTI under 50% individual utilization but it's under a 0% promo so not sure its worth it. Looking for advice on next steps. Guessing I wait until Experian gets updated before I apply for another card. Thanks again for all the great insight!!!
Post

BTC strategy recommendation

1 of 4
A year ago
Sun Apr 30, 2023 5:09 pm
User avatar
NoMoneyNoHoney
Seasoned RebelNeed BTC card
NoMoneyNoHoney has passed the 12 month threshold!
No scorable inquiries on file!
Level20 Last INQSunday, January 1, 2023 Gardening For1 year, 8 months, 6 days, 20 hours, and 19 minutes Next Level in23 days, 3 hours, and 41 minutes on October 1st INQ 1yr onMonday, January 1, 2024 INQ 1yr reached8 months, 6 days, 20 hours, and 19 minutes ago INQ 2yr onWednesday, January 1, 2025 INQ 2yr in3 months, 24 days, 3 hours, and 41 minutes
Looking for balance transfer card (someone who gives high limits) recommendations which report from either experian/equifax as my application on my journey from going from the 500's to hopefully 800s someday. My plan is to get as much as possible available low interest credit to then transfer all my high interest credit where I plan to pay it off over next 1.5 years.

Just recently, NFCU gave me a second platinum card for $16,700 (0.99% BTC for one year terms, no fees) which I plan to eventually use when i get my ducks in a row. Also, just afterwards, I got a CLI increase on my discover card (14,500 to 17500).

This upcoming May 2nd, I'm eligible to apply for CLI with my first NFCU platinum card, which I'm hoping (if I can get something decent) it will give me a bump that will further drive down my utilization score, thus improving my FICO. Navy Federal has been an angle to me, I think i might have been forced to declare bankruptcy if it weren't for them.

Current CC Cards:

Capital one quicksilver (27.65%) 0 /5,000
Capital quick one (27.65%) 0 /2,300
Venture (22.74%) 23,226 /30,000
Chase (27.5%) 0 /10,000
Citi (0% until July) 1,980 /3,000
Discover (16.74%) 10,513 /17,500
NFCU visa (0.99% until June) 1,820 /7,500
NFCU visa 0.99% offer 1 year 0 /16,700
barclay (closed, apr 27.74%) 7,184 /8,250

Not counting Barclay I have $37,539 in unsecured credit card debt and 92,000 in available credit (Barclay isn't showing in those categories now but it's still high interest that's piling up).

Aggregate Utilization (when new card finally gets updated on reports) = 40.8%

Just a couple weeks ago, my aggregate utilization was above 65%.

My Experian hasn't been updated w/ the newly utilization data yet, FICO8 currently is at 696. I'm assuming my FICO will go up even with the new inquiry once it shows my utilization is under 50% now. I might be able to get it below 30% if I can get a few CLI's and another card/etc.

I also got my venture card just couple days ago under 79% individual utilization, not sure if that counts for anything though. I have the money to get CTI under 50% individual utilization but it's under a 0% promo so not sure its worth it.

Looking for advice on next steps. Guessing I wait until Experian gets updated before I apply for another card.

Thanks again for all the great insight!!!
NoMoneyNoHoney
User avatar
  • Score data EX 757 TU: 742 EQ: 750
1
Post

Re: BTC strategy recommendation

2 of 4
A year ago
Mon May 01, 2023 9:20 am
User avatar
JoeRockhead
Seasoned Rebel
JoeRockhead has passed the 12 month threshold!
No scorable inquiries on file!
Level18 Last INQMonday, March 6, 2023 Gardening For1 year, 6 months, 1 day, 20 hours, and 19 minutes Next Level in28 days, 3 hours, and 41 minutes on October 6th INQ 1yr onWednesday, March 6, 2024 INQ 1yr reached6 months, 1 day, 20 hours, and 19 minutes ago INQ 2yr onThursday, March 6, 2025 INQ 2yr in5 months, 26 days, 3 hours, and 41 minutes Goal24 months Goal DateThursday, March 6, 2025 Goal In5 months, 26 days, 3 hours, and 41 minutes
I don't know when your last approval was or any other derogs you might have but BoA offering 21 months at 0% on purchases and qualifying BTs on the Americard. If you've had your Disco for a year they'll allow you to apply for a second card. They have a BT card, which I have, although I find it no different than their other rotating IT card.
JoeRockhead
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  • Score data EQ8: 810 TU8: 810 EX8: 796
0
Post

Re: BTC strategy recommendation

3 of 4
A year ago
Mon May 01, 2023 1:08 pm
User avatar
NoMoneyNoHoney
Seasoned RebelNeed BTC card
NoMoneyNoHoney has passed the 12 month threshold!
No scorable inquiries on file!
Level20 Last INQSunday, January 1, 2023 Gardening For1 year, 8 months, 6 days, 20 hours, and 19 minutes Next Level in23 days, 3 hours, and 41 minutes on October 1st INQ 1yr onMonday, January 1, 2024 INQ 1yr reached8 months, 6 days, 20 hours, and 19 minutes ago INQ 2yr onWednesday, January 1, 2025 INQ 2yr in3 months, 24 days, 3 hours, and 41 minutes
JoeRockhead wrote: Mon May 01, 2023 9:20 am I don't know when your last approval was or any other derogs you might have but BoA offering 21 months at 0% on purchases and qualifying BTs on the Americard. If you've had your Disco for a year they'll allow you to apply for a second card. They have a BT card, which I have, although I find it no different than their other rotating IT card.
Thanks, 21 0% months would be incredible. Will think about it. First thought is I'm worried if they would accept me or what sort of starting line I'd get. I applied for a BofA card around a year ago and got denied. In fact, I believe BofA is my only inquiry on my Experian report. Tomorrow I'll apply for a CLI on my first NFCU platinum so will see how that along with this new platinum card affects my FICO. Curious what getting under 50% aggregate utilization should do to it. Supposedly it's one of the major levels.
NoMoneyNoHoney
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  • Score data EX 757 TU: 742 EQ: 750
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Post

Re: BTC strategy recommendation

4 of 4
A year ago
Mon May 01, 2023 1:24 pm
User avatar
NoMoneyNoHoney
Seasoned RebelNeed BTC card
NoMoneyNoHoney has passed the 12 month threshold!
No scorable inquiries on file!
Level20 Last INQSunday, January 1, 2023 Gardening For1 year, 8 months, 6 days, 20 hours, and 19 minutes Next Level in23 days, 3 hours, and 41 minutes on October 1st INQ 1yr onMonday, January 1, 2024 INQ 1yr reached8 months, 6 days, 20 hours, and 19 minutes ago INQ 2yr onWednesday, January 1, 2025 INQ 2yr in3 months, 24 days, 3 hours, and 41 minutes
I'm around 10K from getting under 30% aggregate utilization. Seeing what CLI I can get with a better FICO.
NoMoneyNoHoney
User avatar
  • Score data EX 757 TU: 742 EQ: 750
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