Has anyone else received this offer.. 3.9% utill transferred balances are paid in full, PLUS your credit line will increase up to $1,500 with balance transfer fee waved. I got this in the mail today. I have enough available credit on the card to pay off 4 of my 6 cards but I was wondering.. I'd have 4 cards at $0 balances while 2 will be maxed out how much will that hurt my score. One upside is only have to make two payments a month. Whould Citibank allow me to combined two cards with high balances? High balances only due to BT's. Only 49 days to go Go Blue
Can't say how much that will hurt your score, but your main concern should be lowering your borrowing costs or not having any debt. IMHO. www.creditsense.com
So if I understand this correctly.. $0 balance cards hurt just as much as maxed out credit? I have been "sock drawering'" my high balance cards and rotating two cards which have between a 30 and/or 50 percent CL to Bal ratio for purchases. Should I pay down to only a $100 balance?
Don't misunderstand me, I do not know much about scoring, my whole approach to credit is "credit sense", pay down high interest debt with low interest debt, leverage your credit to EARN money and more credit. It works for me and everyone else that has tried it. www.creditsense.com
Des.. take the deal. My husband has the dea. 3.9 until paid is good. I'd bet you are paying much more on the 4 cards. How long have you had this citi- card ? I am waiting for the deal to be offered to MY citi card. Cherie
My citi credit line was 10.5k. they offered me to increase to 12.5k at 3.9% no fee if I balance transfer. So I ask for a check payable to myself for the full credit line. I just deposit it into my checking account yesterday.
Cherie Sorry I didn't see your question till today, I am taking the deal and paying off 4 and half cards with it. I will still have a high ratio but 2 checks to Citibank is better then 6 all month. I have both a Plat Select and a Plat Select Dividend cards and I checked Cit's BT on the web site and while I got this offer in the mail for my Plat Select I got the same offer on the Plat Select Dividend on line. So I am taking both. Which will max out both cards but I can have them both paid back in 13 months and still save $200 a month on payments. I got the Plat Select in Feb 01 and Dividend in Mar 01. I have balance transfered other cards over the course of the year and always paid more then min and never when over 40% on my ratios. I just got a 1100 CL raise on my 1 year with the Dividend card so this new BT will raise it another $1000. Thanks CreditNet
