JimmyJazz4

Thanks for that info.

Just an FYI: They're offering 7.99% until 1/2011 at which time the card will be closed and the rate goes to the prevailing rate at that time.

I want to open a credit card or two to make BT's. Does it matter if I apply for the BT when I apply for a card (it would be about 5k if I did that), or is it better to apply for a card that has a BT offer I'm interested in, wait for approval and find out the CL, then make the BT? Haven't done this in about 10 years... Thanks all...

Sorry for any confusion. Thanks for the post, though. I'm looking only for a place to park a BT, not to use for purchases. I'm not necessarily looking for a $20k CL upon application. I'll take anything I can get to help me reduce the balance on my Chase card. I don't care if it's $3k.

Thanks. I will be investigating a local CU. I thought Penfed was only available to certain groups and that I'm not in any of them (military). Maybe I am wrong.

I have to transfer 20k balance out of my Chase acct because they'll be upping my min. monthly pmt on my 3.99% fixed for the life of balance from 2% to 5% of outstanding balance in January, and I can't afford the pmt. My rating averages 750, I've never paid anything late. No BK, nothing negative on my reports, ever. I checked the Credit Pulls database (a great resource), but I have some questions: 1) With the economy the way it is, does anyone think Capital One is a better risk than Discover for opening a new acct? With Chase upping my min. pmt. without any reason except "due to the economy," I'm nervous others will follow their lead. 2) For a BT, is it better to apply for a card, find out what my CL is, if approved, then do a transfer? As opposed to applying and requesting a BT at the same time? I would like to transfer as much as possible to a new card, if approved, but I think I might mess things up if I apply for a card and request to transfer, say, $15k at the time of application. Am I correct? 3) Do people have a better chance of being approved if they've received offers in the mail (like the CapOne 0% to 3/10 I just rec'd) as opposed to going to a recommended card (the Discover More card being recommended this month) and applying? Thanks for any suggestions/answers. Not sure if this is needed, but just in case someone has a better idea for me (card-wise): RBS: bal. $950 (promotional 3.99% for life of balance) on CL of $10,500; Citi: bal. $1367 (promotional 6.99% for life of balance) on CL of $25,000 (could pay off and take 0% 'til 9/09---if they accept my request for a BT); Chase: bal. $20,000(promotional 3.99% " " " ) on CL of $32,700; Harris/FIA: PIF each month--------------------------------------- CL of $24,200. Have student loan of $21k @ 1.875%

I got a rate increase, too. And I have 0% and a 2.9% BT promos online. Not for life, but better than any other card is offering. I may move my balance from Chase (who just upped my minimum pmt to 5% of the balance) over to Citi, if they'll take it. FYI: I called Citi and they dropped my increase by 3.59%, so that's something...

No problem accessing here

FYI for all: I just spoke with Chase and they offered to "lock in" (CSR's words) my current Purchases rate (7.99%) until my card expires (03/10), I would be required to pay 2% of balance for minimum payment, and no $10 monthley finance charge. Once my current card expires, my rate would change to whatever rate would be applicable for me at that time. I think if I can, I would be better off transferring to another card(s), since I would get hit with an extra $70/month in finance charges @ 7.99% + $10/mo if I stay with Chase. With a transfer, I can maybe get it done by paying a total of $375.00 in BT fees.

Shane, What did you mean by "...will see if it goes thru if not I have the checks."? Did you mean that you think you have a better chance of the BT with a check or was it that the online BT is with one card, and you have checks that you can use for a differnt card?

Can't you transfer your balance between your RBS and Citi card? Penfed has a 5.9% BT for life offer but they can be difficult to get approved for. Thanks for all the replies. I need others' advice because I'm just too close to this difficult situation to see it in the right perspective, I think. Yes, I could try to put it all on RBS & Citi. But there is no maximum BT fee on any of Citi's offers, so if I transferred $10k to RBS & $10k to Citi (2.99% until 3/2010), it would cost $75 + $300. This is all new and very confusing to me. Is it worth it to pay Citi a variable rate (they just raised my int. rate to prime + 8.99%) on the $300 BT fee (don't the cards all put the BT fees as normal purchases?) in order to save paying 5% of balance to Chase on 10k plus get assessed a $10/month finance they also threw in? (Assuming I only transfer $10k over to RBS (if they take it), and leave $10k with Chase at 3.99%.) Man, I need to start a spreadsheet on this. My head is spinning.

I got bit by Chase with their 5% minimum monthly pmt, effective 1/1/09. They could send me into bankruptcy because of this. Times are tough, groceries and other necessities cost more, and they go and do this. I want to get a new cc, with a good Bal. Transf. offer, and transfer whatever I can over to it from horrible Chase. I have 4 credit cards: Chase (bal. transf. bal. of 20k (3.99% for life) on a 32k credit limit), RBS (bal. trans. bal. (3.99% for life) of $900 on a $10.5k cr.lmt.), Citi (bal. trans. bal.(6.99% for life) of $1500 on a $25k cr.lmt), and Harris/FIA which I pay in full each month (I use it to earn points). My ratio on the Chase is high, but the offer was great back in 2005 and I had unexpected expenses that I had to pay (medical). The other ratios are very low. The only good offer I have on my current cards is RBS 5.99% until Nov 09, or 6.99% for life. But the cred. limit can't handle my entire Chase balance. Is it more difficult now (because of the economy and the financial industry crisis) than earlier this year to get a credit card? I want to get away from Chase and close that account. I have been with them forever, even had 2 mortgages with them. And they go and do this 5% cr** to approximately 120k people. FYI: my FICO scores average around 770-820 and I have never made a late payment on anything. My credit report is clean. So, just wondering if I would be wasting my time looking for a new card and dinging my credit...any help would be appreciated!

I'm a 3.99% lifer and got that horrible notice. I'm not subprime by any means (770-820 FICO scores). But I guess their 'internal scoring' put me in the risk pool. I'm trying to figure out a plan where I can transfer my balance to another card(s) and then close the Chase card. I have an RBS offer for 3.99% until Nov 2009 with a $75 max BT fee, or 6.99% for the life of the balance. I just hope they'll take the BT. I can't afford to pay 5%. Why do they want to force me into bankruptcy? Question 1: How much of a 'hit' will my FICO score take if I close my Chase card? I would have to close it if I pay it off, or else I'm hit with $10 a month. Unbelievable. I average, over the three credit reporting agencies, 760-820. Question 2: Is there a way to find out if any legal research is being done on this increase, if any legal agencies are questioning it and may potentially protest it?

Just great. I've been thinking about making a 0% BT to my RBS, since Chase just upped my minimum pmt t 5% of the balance. I wonder if they'll reject it.