With all of the AOR craze over the last couple of years I've been patiently waiting for the right time to venture into this AOR club. Having thoughts of purchasing a home, I have previously held back on pulling the trigger. Well with our home closing last October and the increasing talk of "credit tightening", with CC company's actions starting to back some of it up, I thought it was time to jump in.
Initially I had planned to be very thorough and methodical in my whole approach. Some in this forum are unbelievable in how well-planned they have been in this process. I thought I would do the same. I would plan ahead, keep an organized folder of dozens of links, documents, spreadsheets, detailing my masterplan, and then submit it for FWF to pick it apart.
Well I was able to BEGIN the organization part but never quite made it to the submit to FWF part. I couldn't resist and began my AOR process.
I would've been glad to get everyone's input on my approach, however, between the numerous threads out there now on this, and my tendency to second guess things, I probably would've overthought it, so I'll just provide some details here and results for others to build on.
So all that said, here's the details and ongoing results: Goals: mostly 0% no/low fee deals, followed by a Cash Back for Gas/Grocery. I threw a couple of points/miles cards in there just to make sure my AOR portfolio was well-diversified
Name: squid3 Age: 29 HHI: ~130K Date of AOR: 1/12/2008 (yes, against conventional AOR wisdom, I did mine on a Saturday) PM123 fakos on 1/12 before AOR: 765/783/747 (TU/EX/EQ) Inquiries on PM123 report: 8/3/4 (TU/EX/EQ) Existing Cards: (Card / Limit / Balance / Util% / Age) Discover...........$2300.00.....$99.00.....4.3%...9 years Chase..............$5000.00......$0.00.....0.0%..11 years NatCity Platinum...$8250.00......$0.00.....0.0%...3 years NatCity Diamond....$6500.00......$0.00.....0.0%...4 years Capital One Plat...$7000.00......$0.00.....0.0%...8 years Citi/ATT Univ.....$21500.00......$0.0......0.0%...9 years BofA (auth user)..$30000.00......$0.0......0.0%...7 years AMEX Blue.........$12000.00......$0.0......0.0%...5 years Lord&Taylor(store)..$500.00......$0.0......0.0%...2 years AMEX Green Rewards..(charge)....$10.00............5 years TOTAL CL:............$93050
Other accounts: US Bank mortgage Car Loan Student Loan
Cards applied for (roughly in order of application) Life Spring Visa (Nat City)..........0% 12 mo no fee..........Denied - too many inquiries, already have NC cards BoA Plat + Visa targeted mailer (by phone).......0% 12 mo no fee..........Instant approval - $9500 CL Chase Plat Visa targeted mailer................0% 15 mo $99 fee.........Approval (non instant) - $19300 CL AMEX In Chicago......................0% 6 mo no fee..........Instant approval - $10000 CL -> $21000 realloc 11K from existing Blue Discover Business....................0% 12 mo no fee..........Pending AMEX Costco True Biz..........................................Approved - $3500 CL ($500 from existing AMEX Blue Advanta Biz..........................0% 15 mo $90 fee.........Instant approval - $12500 CL BankAtlantic Biz.....................0% 15 mo $75 fee.........Instant approval - $20000 CL Citi Driver's Edge...................0% 12 mo no fee..........Approval 1/14/08 - $7500 CL Citi Professional....................0% 12 mo no fee..........Approval (phone call) - $4000 CL Discover Open Road............................................Approval - 8000 CL Scrapbooks Visa Nat City.............0% 6 mo no fee...........Denied - email 1/14/08 - too many inquiries, already have a card with them National Education Worldpoints BoA...0% 12 mo $30 fee.........Approval - $10000 CL Citi AAdvantage......................20K AA miles after $750..Approval - $9700 CL Chase Sony Rewards...................5K Sony Rewards w/purch..Approval - $7000 CL I also got a CL increase in ATT Universal from $21.5K to $30K Total approved new CC CLs: $120500.00
Pending a BT to my checking and a $6500 BT check coming from Citi, I should have about $75K in liquid funds to do something with. 18K will need to be liquid in < 6 months to payoff AMEX.
Ways I could've improved my approach (some of these are suggestions mentioned in this thread, thanks for those): 1) Been more organized/prepared in my approach. I had a good idea in my mind of what I planned to do but planning it out ahead of time with a more organized "next step" type of approach would've prevented some of the mishaps 2) Gotten feedback from FWF before starting the process. 3) Should've added a couple more business cards, Citi would have been good to have a better shot at reallocation since my Citi Aadvantage CL was kind of useless 4) Not applied for the National City cards or cancelled my other 2 cards prior to AOR 5) Could've been a little more efficient with some of the BT fees
My thought is to try to realloc/consolidate my current AMEX Blue $12K to In Chicago, and $5K current Chase and some of Sony Chase into new Chase. I have to look into the ATT Universal more to see if I can do anything with my fresh $30K in existing CL. I'm not sure if I can do anything with current $30K BofA since I am only an AU.
That's not bad at all. 10 out of 11 on the ones that have decisions so far. That's better than most I've seen.
tolamapS
Senior Member - 2K
posted: Jan. 14, 2008 @ 11:45p
Holy-Moly. Nice instant approval numbers. Great going, and good luck.
markkundinger
Senior Member - 2K
posted: Jan. 15, 2008 @ 12:00a
So far, looks like it will be pretty successful. What are you going to do with the 0% money?
Here's what you did wrong:
- You can get non-targeted Chase apps with 0%, 12mo, and only a $75 fee. (then again, the Sony card probably has the lower fee).
- I probably wouldn't have applied for two National City cards.
- I would have recommended at least a Chase and Citibank business card. Then you could reallocate lots of personal credit to them, max them out, and "hide" the balances. Actually, there might still be time to do this.
In my experience with the AMEX:IN card, you can request a higher limit as soon as you receive the card to do a balance transfer. I received $10k initially as well but requested that it bumped to $20k for a balance transfer and they did it without blinking an eye. YMMV of course.
MikeR397
Senior Member - 3K
posted: Jan. 15, 2008 @ 8:54a
Thrilla said: In my experience with the AMEX:IN card, you can request a higher limit as soon as you receive the card to do a balance transfer. I received $10k initially as well but requested that it bumped to $20k for a balance transfer and they did it without blinking an eye. YMMV of course.yes, it is the AMEX crack CLI (you can get a CLI online). DO NOT ask for more than 24.9k CL unless you are really in the mood for an AMEX FR and probal insertion.
FYI, my family has 7 AMEX IN cards, all with $20,000-24,900CL's (202k HHI) for the last 6 months and I made it through (so far) without a FR . AMEX really likes a high HHI when giving big CL's and not FR'ing in my opinion.
markkundinger said: So far, looks like it will be pretty successful. What are you going to do with the 0% money?
Here's what you did wrong:
- You can get non-targeted Chase apps with 0%, 12mo, and only a $75 fee. (then again, the Sony card probably has the lower fee).
- I probably wouldn't have applied for two National City cards.
- I would have recommended at least a Chase and Citibank business card. Then you could reallocate lots of personal credit to them, max them out, and "hide" the balances. Actually, there might still be time to do this.
Thanks for the comments, I agree, the Scrapbooks Nat City was a last minute one that in hindsight I probably should've just ignored, it's only a 6 mo one anyhow. I'll have to check my Chase mailer when I get home, it may have been $75.
I'll have more time tonight, now that I know I was approved for 3 Citi and 2 Chase, might as well push it to see if I can get one more of each.
MikeR397 said: Thrilla said: In my experience with the AMEX:IN card, you can request a higher limit as soon as you receive the card to do a balance transfer. I received $10k initially as well but requested that it bumped to $20k for a balance transfer and they did it without blinking an eye. YMMV of course.yes, it is the AMEX crack CLI (you can get a CLI online). DO NOT ask for more than 24.9k CL unless you are really in the mood for an AMEX FR and probal insertion.
FYI, my family has 7 AMEX IN cards, all with $20,000-24,900CL's (202k HHI) for the last 6 months and I made it through (so far) without a FR . AMEX really likes a high HHI when giving big CL's and not FR'ing in my opinion.
So better to ask for CLI than to try to get my 12K available CL from my AMEX Blue (which has been unused for years)?
I'm thinking your CLI suggestion would probably be better so I have less overall utilization of AMEX CLs and they don't freak. Thanks for the heads-up on the limits, I think saw you mention this in another thread
EmilM
Member
posted: Jan. 15, 2008 @ 1:06p
With AMEX you can reallocate your credit among cards online by yourself. I wouldn't close your old card, but you can easily move $10,000 CL from one card to the other instantly.
I ended up combining 4 AMEX cards into 1 card last AOR (over a year ago) and ended up with a 54,000 credit line on my IN:LA card. I didn't get FR, but this was before the CLI button even existed. After BT was done I moved the CL among the remaining cards to try and avoid sticking out over $25,000 limit, even tho at that point it was probably a moot point.
jakeru said: Could you tell us more about the 15-mo 0% no fee BOA targeted mailer? Was is business or personal? Platinum Plus Mastercard?
That's pretty hawt.
Ah, I just updated OP, I flipped the terms when I typed in the Chase and BoA cards wrong, the Chase is 15 months and the BoA is 12. I knew there was a reason that I took the Chase offer even with the $99 fee
The BoA was Platinum Plus Visa and the Chase was Chase Platinum
sushii
Member
posted: Jan. 18, 2008 @ 7:30a
squid3 said: MikeR397 said: Thrilla said: In my experience with the AMEX:IN card, you can request a higher limit as soon as you receive the card to do a balance transfer. I received $10k initially as well but requested that it bumped to $20k for a balance transfer and they did it without blinking an eye. YMMV of course.yes, it is the AMEX crack CLI (you can get a CLI online). DO NOT ask for more than 24.9k CL unless you are really in the mood for an AMEX FR and probal insertion.
FYI, my family has 7 AMEX IN cards, all with $20,000-24,900CL's (202k HHI) for the last 6 months and I made it through (so far) without a FR . AMEX really likes a high HHI when giving big CL's and not FR'ing in my opinion.
So better to ask for CLI than to try to get my 12K available CL from my AMEX Blue (which has been unused for years)?
I'm thinking your CLI suggestion would probably be better so I have less overall utilization of AMEX CLs and they don't freak. Thanks for the heads-up on the limits, I think saw you mention this in another thread
sushii
Member
posted: Jan. 18, 2008 @ 7:32a
MikeR397 said: Thrilla said: In my experience with the AMEX:IN card, you can request a higher limit as soon as you receive the card to do a balance transfer. I received $10k initially as well but requested that it bumped to $20k for a balance transfer and they did it without blinking an eye. YMMV of course.yes, it is the AMEX crack CLI (you can get a CLI online). DO NOT ask for more than 24.9k CL unless you are really in the mood for an AMEX FR and probal insertion.
FYI, my family has 7 AMEX IN cards, all with $20,000-24,900CL's (202k HHI) for the last 6 months and I made it through (so far) without a FR . AMEX really likes a high HHI when giving big CL's and not FR'ing in my opinion.
What is HHI? Am I in a foreign country? Plz someone educate me. Op, Once you get the BT done on your new cards, do you still use them for purchases or will that affect the fees? Thanks in advance!
sushii said: What is HHI? Am I in a foreign country? Plz someone educate me. Op, Once you get the BT done on your new cards, do you still use them for purchases or will that affect the fees? Thanks in advance!
If you aren't posting comments/questions specifically related to my AOR (your questions are really unrelated), then you should probably post in the flame-free thread link
That said, HHI = Household Income and in 99% of the cases I would say you should NOT use a card you are carrying a 0% balance on for purchases. Post your question in the flame-free thread if you want a further explanation as to why.
As to what to do with my 0% available BT lines, I must admit I'm somewhat torn.
I currently have a MM savings account that still has about 4 months left of guaranteed 5.25 APY, but after that ??? I already have Ameritrade and Fidelity accounts, so even parking some of it in a brokerage account with a nice sign-up bonus may be difficult.
In addition, with all of this A/A talk, I'm not sure how aggressive I want to be.
My post earlier about plans for the 0% funds was that I was considering paying off my student loans (16K at 7%), since I am likely to be phased out of the interest deduction in 2008 unless the IRS really steps it up with income level increases. But with rates possibly decreasing further, I thought I would take my chances so I'm going to skip that plan.
Most likely I will just tread cautiously and watch my util rates. Park the $ in the MM savings (as soon as work on getting it into my checking). I'll have to continue to consider my options for after April. Maybe win333 will have found a company we can buy by then.
Rorer714
Senior Member
posted: Jan. 19, 2008 @ 2:41a
squid3 said: sushii said: What is HHI? Am I in a foreign country? Plz someone educate me. Op, Once you get the BT done on your new cards, do you still use them for purchases or will that affect the fees? Thanks in advance!
If you aren't posting comments/questions specifically related to my AOR (your questions are really unrelated), then you should probably post in the flame-free thread link
That said, HHI = Household Income and in 99% of the cases I would say you should NOT use a card you are carrying a 0% balance on for purchases. Post your question in the flame-free thread if you want a further explanation as to why. Squid3, aren’t we being a little harsh? Intro 0% BT only: Do not make any purchases. Intro 0% BT & Purchases: Defiantly make purchases. The reason being some CC (probably most) will permit you to use the grace period when paying of the BT. I have done this with Discover (Open Road) & Chase (Sony). Intro 0% BT w/promo: Make purchase, pay immediately then do BT. Intro 0% BT & Purchases w/promo: Defiantly make purchases. There are probably other situations but I think you get the idea.
Rorer714 said: squid3 said: sushii said: What is HHI? Am I in a foreign country? Plz someone educate me. Op, Once you get the BT done on your new cards, do you still use them for purchases or will that affect the fees? Thanks in advance!
If you aren't posting comments/questions specifically related to my AOR (your questions are really unrelated), then you should probably post in the flame-free thread link
That said, HHI = Household Income and in 99% of the cases I would say you should NOT use a card you are carrying a 0% balance on for purchases. Post your question in the flame-free thread if you want a further explanation as to why. Squid3, aren’t we being a little harsh? Intro 0% BT only: Do not make any purchases. Intro 0% BT & Purchases: Defiantly make purchases. The reason being some CC (probably most) will permit you to use the grace period when paying of the BT. I have done this with Discover (Open Road) & Chase (Sony). Intro 0% BT w/promo: Make purchase, pay immediately then do BT. Intro 0% BT & Purchases w/promo: Defiantly make purchases. There are probably other situations but I think you get the idea.
I wouldn't say it was being harsh, but ok.
Being harsh would be making fun of you for "defiantly" making purchases.
"AMEX FRs, A/A, Credit Crunch...ha! They got nothin'. I'll show them, ring me up! I'm over my limit? I don't care! I'm defiantly making purchases!"
sushii
Member
posted: Jan. 19, 2008 @ 7:33a
Rorer714 said: squid3 said: sushii said: What is HHI? Am I in a foreign country? Plz someone educate me. Op, Once you get the BT done on your new cards, do you still use them for purchases or will that affect the fees? Thanks in advance!
If you aren't posting comments/questions specifically related to my AOR (your questions are really unrelated), then you should probably post in the flame-free thread link
That said, HHI = Household Income and in 99% of the cases I would say you should NOT use a card you are carrying a 0% balance on for purchases. Post your question in the flame-free thread if you want a further explanation as to why. Squid3, aren’t we being a little harsh? Intro 0% BT only: Do not make any purchases. Intro 0% BT & Purchases: Defiantly make purchases. The reason being some CC (probably most) will permit you to use the grace period when paying of the BT. I have done this with Discover (Open Road) & Chase (Sony). Intro 0% BT w/promo: Make purchase, pay immediately then do BT. Intro 0% BT & Purchases w/promo: Defiantly make purchases. There are probably other situations but I think you get the idea.
Thankyou for being so kind. I get the picture. Keep up the fatwallet spirit of helping out those in need.
sushii
Member
posted: Jan. 19, 2008 @ 7:37a
------------------------------------------------------------------- If you aren't posting comments/questions specifically related to my AOR (your questions are really unrelated), then you should probably post in the flame-free thread -------------------------------------------------------------------
With no disrepect OP, how can I positively contribute to your thread if I have no idea what the hell you guys are talking about?
Rorer714 said: squid3 said: sushii said: What is HHI? Am I in a foreign country? Plz someone educate me. Op, Once you get the BT done on your new cards, do you still use them for purchases or will that affect the fees? Thanks in advance!
If you aren't posting comments/questions specifically related to my AOR (your questions are really unrelated), then you should probably post in the flame-free thread link
That said, HHI = Household Income and in 99% of the cases I would say you should NOT use a card you are carrying a 0% balance on for purchases. Post your question in the flame-free thread if you want a further explanation as to why. Squid3, aren’t we being a little harsh? Intro 0% BT only: Do not make any purchases. Intro 0% BT & Purchases: Defiantly make purchases. The reason being some CC (probably most) will permit you to use the grace period when paying of the BT. I have done this with Discover (Open Road) & Chase (Sony). Intro 0% BT w/promo: Make purchase, pay immediately then do BT. Intro 0% BT & Purchases w/promo: Defiantly make purchases. There are probably other situations but I think you get the idea.
Ok, thinking about this more, it is really YMMV. Sushii wanted to know what I planned to do, which initially I had planned to keep all BTs separate from purchases. But it really depends on what you want to do from an organization standpoint, as well as what cards you are getting/have.
So I take back my 99% comment, looking at my assortment I might actually implement one of the things Rorer mentioned. At first I thought I was going to BT to the max Util% I felt comfortable with, but I neglected to factor in minimum payments, which will offset purchases for that cycle. So if you are organized, you can make purchases up to the amount of your min payment without increasing your Util%.
Any reason to think doing purchases on a card you are carrying a 0% BT on will help prevent A/A?
sushii said: ------------------------------------------------------------------- If you aren't posting comments/questions specifically related to my AOR (your questions are really unrelated), then you should probably post in the flame-free thread -------------------------------------------------------------------
With no disrepect OP, how can I positively contribute to your thread if I have no idea what the hell you guys are talking about?
Sushii, post away then. This is now a flame-free thread.
sushii
Member
posted: Jan. 19, 2008 @ 8:05a
squid3 said: sushii said: ------------------------------------------------------------------- If you aren't posting comments/questions specifically related to my AOR (your questions are really unrelated), then you should probably post in the flame-free thread -------------------------------------------------------------------
With no disrepect OP, how can I positively contribute to your thread if I have no idea what the hell you guys are talking about?
Sushii, post away then. This is now a flame-free thread.
Thanks for the honor!
Rorer714
Senior Member
posted: Jan. 19, 2008 @ 8:27a
squid3 said: Being harsh would be making fun of you for "defiantly" making purchases. You got me! I should probably stop responding to posts at 3 in the morning.
markkundinger
Senior Member - 2K
posted: Jan. 19, 2008 @ 10:35a
squid3 said: Any reason to think doing purchases on a card you are carrying a 0% BT on will help prevent A/A? Assuming the card also has 0% on purchases, then I think it will make little or no difference.
One one side, it will prevent any "improving trend" in your outstanding debt. With that being said, the improvement from making minimum payments is generally slight.
On the flip side, it was suggested a few years ago that paying a couple bucks in token finance charges (i.e. making purchases when the rate is not 0%), might make you look like a more profitable customer to banks. But this is highly speculative.
Personally, I only make purchases on 0% cards if I need to in order to satisfy a promo of some sort.
Updated list, approved for Discover Open Road, AMEX Costco True Biz, and Advanta (12.5K)
I also reallocated 11K of my 12K limit of AMEX Blue to my new AMEX In Chicago, for a total of 21K limit for the IN Chicago card.
I got an email today saying I was approved for the AMEX Costco True Biz. Funny thing they mentioned in the email that they were taking part of my CL from another card that has not been used recently, which happened to be the AMEX Blue that I left a 1K limit on. The email said they took $500 and allocated it to the new card. Didn't say what the Costco card limit was though.
I think my next steps are extracting as much as I feel safe with out of AMEX for sure, especially b/c the clock is ticking on my MM savings at 5.25% and the AMEX offer is only 6 months.
Need to try to reallocated/consolidate Chase to save on fees
squid3 said: I got an email today saying I was approved for the AMEX Costco True Biz. Funny thing they mentioned in the email that they were taking part of my CL from another card that has not been used recently, which happened to be the AMEX Blue that I left a 1K limit on. The email said they took $500 and allocated it to the new card. Didn't say what the Costco card limit was though.
LOL, the exact same thing happened to me today. I was in-store and I wanted the Biz card for the 5% off gas. I waited for my AMEX BT to clear before applying (thinking they might take some of the CL). They took $500 CL from my Blue card (from the $1000 CL I left from reallocation) to apply to the new Biz card.
They took $500 yet instantly approved me for $22,000 on the new card. LOL
Could you give us a brief synopsis on the characteristics you put down for your business aps-- i.e. how old your bus. is, income, whether you used your home phone number, etc. Obviously, a lot of people are just "starting out", and some card issuers are fine with this, others not so fine. Thanks.
Could you give us a brief synopsis on the characteristics you put down for your business aps-- i.e. how old your bus. is, income, whether you used your home phone number, etc. Obviously, a lot of people are just "starting out", and some card issuers are fine with this, others not so fine. Thanks.
I don't recall exactly the values I entered, but I basically submitted as a sole proprietor "just starting out".
For a little background I used to sell a little on eBay and claimed this income on my taxes. Although I did not claim anything last year since I have not sold anything in a year or 2, I put my business age as 4 years, with 0 income. I also have a small partnership but I did not consider this in my apps.
As far as phone number, I used my Grand Central number
A small update, been busy the last few days so haven't had a chance to do a full write-up
Called Advanta Saturday 1/26 for BT to checking account. CSR said no problem as a "one-time courtesy". BT'd 10,500. Got a call Monday from the fraud department, verifying the transfer. Told them I submitted it and to carry-on, funds showed up Tuesday...nice
BTd to my wife's BoA card (30K limit) and she ended up with a 9K credit balance. Called them up to get a check, CSR must get commission for BTs b/c she was pushing it hard. Ended up BTing 25K into checking. This worked out better since I wouldn't have to wait for a check and they wouldn't send the check anyways since I wasn't primary on the account (I'm Authorized user). 25K showed up today in my checking. 25K - 9K credit = 16K on my wife's card. This was at 1.9%, so I BTd from BankAtlantic to cover it (see later in post on BA)
Called Chase and reallocation 4K of my 5K from my previous Chase card. Left 1K on the old Chase and added 4K to the Chase Sony. Deposited BT check for 9500 from Sony that came with card.
Deposited No hassle check from Cap 1 for 6800 into checking. No fee but 6.9% on the Cap 1, so I BTd from BoA Nat Education 7K to pay it off. BT already showed up as a credit, so I requested $200 NO hassle check.
Called BankAtlantic as I submitted a BT request with app. CSR said BT request was denied (submitted to wife's Chase). Requested a BT to wife's BoA to pay off the 16K. Verified terms with CSR.
Called Citi to see about reallocating/reconsolidation of lines since the Citi Aadvantage card has such a high line which is virtually useless to me. As mentioned in the reallocation thread, CSR denied any realloc/reconsol since I have 0% BT promotions on the other 2 cards. Requested check online from Citi Driver's Edge for 6500. Making purchases on Citi AA card to reach $750 for 25K AA miles. Made a $7 purchase on Citi Professional to get 15K TY points on first purchase. Will pay off and will wait to use the whopping 4K line in the future.
BTd from AMEX In Chicago to BoA Platinum and BoA NEA card to payoff amounts. Will try to reallocate NEA CL to BoA platinum since they are no fee and do BT to checking once AMEX BT hits.
So, all that said, I have 35K in my MM savings earning a whopping 3%. Another 15K pending (7 day hold on BT check deposits). Another 6500 check on its way. Hopefully another 18K or so from BoA.
I was going to open a CD or something today but was too busy with work. I guess I will just see how the 1/2 pt cut affects the CD/MM/Savings deals and may use 16K to payoff my student loan if it seems to be the best approach to a guaranteed return.
Oh, and my Costco True Earnings Biz was approved at 3500 (500 from my existing AMEX Blue). I plan to just use this for gas and Costco purchases. Plan to cancel AMEX Green Rewards in Sep since they charge a fee.
Ok, so maybe this is close to a full write-up.
===============
comments; since this was my first AOR, I have to say I am thoroughly impressed with how some FWFers are so organized with theirs. I have had a hard time balancing work and life and AOR, it is definitely something you need to prepare and be organized for and make time for.
That said, I certainly could have planned some BTs better, especially as it relates to fees. I have probably racked up about $400 in fees to this point.
markkundinger
Senior Member - 2K
posted: Jan. 30, 2008 @ 7:56p
Fees are an important part of an AOR. An important bad part. But there are only a few ways to "make a mistake" on transfer fees:
1) You make a transfer which is unprofitable, or marginally profitable, because of the fee. 2) You incur multiple transfer fees from one lender, when consolidation would have allowed you to do just one. 3) You incur a fee multiple times on one card (churn).
One thing when I did my BTs from AMEX IN Chicago, the verification page had the following text:
Offer Details APR: Same APR as when you make purchases, as previously disclosed to you
APR Duration: Until the balance transfer amount is paid off
Fee: There is no transaction fee associated with this offer
--------------- Not that AMEX cares, but couldn't you make the case that APR = 0% (which is the same APR as when I make purchases), therefore, the APR duration of "Until the balance transfer is paid off" should be at 0%?
markkundinger said: - I would have recommended at least a Chase and Citibank business card. Then you could reallocate lots of personal credit to them, max them out, and "hide" the balances. Actually, there might still be time to do this.
Applied for a Citi and Chase card about the time Mark recommended. Didn't think much of it but today I received a Chase business with 9K CL. $99 BT max free though, but 12 mo 0% and I can send about 9K of my 10.2K remaining Chase platinum line to it. Plus it came with a BT check.
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