If you apply for a card that allows balance transfers, is there a higher possibility that you may be approved if you transfer a balance rather than just applying? Just wondering!
RE: Transferring balances and Hey Molly, I tried this a couple times and it didn't seem to make a difference, I still got denied. Of coure I am wiser now Mom
RE: Transferring balances and I would say it gives you an advantage, but it really depends on your report and their criteria.
RE: Transferring balances and Yes than do, started with 10,000 with them, raised to 12,000 in 7 months.
RE: Transferring balances and I was just curious I am not applying for any more cards until I get more items removed. If I can get all negatives removed then I will apply for Amex. I was just wondering if it's easy with a balance transfer. Thanks for the input.
RE: Transferring balances and Again I would say it's helps, but it all depends on American Express criteria for approving potential customers. I wouldn't use the word EASY.
RE: Transferring balances and I think it might give you a slight (very slight) edge if an actual human being is decisioning your application (getting rarer all the time), so long as other factors are in line with their normal approval parameters. Some banks allow you to call in and speak with a credit analyst for a reconsideration if you get denied. Sometimes the offer of a balance transfer at this time can make a difference. Keep in mind that you may not be approved for a credit line large enough to facilitate the entire balance transfer. In this case, they will transfer whatever your credit line allows, leaving the rest on your other card. This really ticks some people off. Kat http://creditexert.tripod.com/home.htm
RE: Transferring balances and I just applied for Nextcard and was given the option of a 5K limit at 15.9 with no balance transfer, 7K limit at 13.9 with a $3K transfer or 9K limit at 9.9 with a $5K transfer. I opted for the 9.9 rate which is now the lowest ongoing rate card I have. I doubt that asking for a balance transfer will increase the chances for approval. I was approved before I was given the transfer option but at least with Nextbank, it sure impacts the interest rate they offer and the total credit line.
