retmil said: Rorer714 said: retmil said: Rorer714 said: retmil said: Since you weren't aware of that BT card I assume you can't find this 0% BT thread. The decision makers have decided to hide it so only people in-the-know can benefit. (lame)Why don’t you just start a new thread for each card listed in that thread? Maybe that way they will get shut down a lot quicker. What is lame are those (not referring to OP) that feel they are entitled to be spoon food. That's funny considering you repeatedly point out the link to the new BT card thread for anybody that asks on creditboards. http://creditboards.com/forums/index.php?showtopic=410660You might want to get your facts straight. I did not post the link or start a new thread for every BT card that comes out. By the way have you found any new links for Citi BT cards yet? ROFLAMO!!! Helping is one thing, spoon feeding is another. I'll make sure you are the first to know. That way you can admonish me here and then run off to credit boards and post the link there like you did the last cards. Then you can run back over to FW and cry about the info being shared and the links going dead. This will be followed by idiotic statements like "give a man a fish and he'll eat for a day...." Now you know what lame actually looks like.Don't let the facts get in the way of a good story. You could not find a link if it drop on your head. Don't forget all post have date and time. P.S. If you want to know other boards I visit just ask since you like to follow me around like a lost puppy. ROFLMAO!!!
mobius8 said: So, what do you do with all that available credit. Do you get checks for the balance transfers and invest that money?
The best cards give balance transfer checks that can be deposited into a bank account
The second best cards will transfer funds to your checking account when you call customer service to request a transfer (be extremely careful when doing this to make absolutely sure to confirm that every detail of the transfer will be on the terms you are expecting - there are many nasty surprises that will happen when you assume that the credit card company will do what you expect)
The remaining cards only accept transfers from other cards. One advantage to appliying for many cards at once is that after you do a transfer to your bank account from one of the cards, you can then transfer that balance to one of these cards.
Once you have all of the money in your checking account you have funds available to earn interest, and you also have added liquidity to make large purchases today that you would otherwise have to wait until you saved the funds. Also, if you have any existing debt, you can pay it down (or pay it off completely) to save interest expenses.
Before attempting anythingg like this I would read through some of the threads on this forum (some of them are linked to the original post of this thread).
TheRealRayCharles
Member
posted: Sep. 24, 2009 @ 8:09p
jameshasty said: mobius8 said: So, what do you do with all that available credit. Do you get checks for the balance transfers and invest that money?
The best cards give balance transfer checks that can be deposited into a bank account
The second best cards will transfer funds to your checking account when you call customer service to request a transfer (be extremely careful when doing this to make absolutely sure to confirm that every detail of the transfer will be on the terms you are expecting - there are many nasty surprises that will happen when you assume that the credit card company will do what you expect)
The remaining cards only accept transfers from other cards. One advantage to appliying for many cards at once is that after you do a transfer to your bank account from one of the cards, you can then transfer that balance to one of these cards.
Once you have all of the money in your checking account you have funds available to earn interest, and you also have added liquidity to make large purchases today that you would otherwise have to wait until you saved the funds. Also, if you have any existing debt, you can pay it down (or pay it off completely) to save interest expenses.
Before attempting anythingg like this I would read through some of the threads on this forum (some of them are linked to the original post of this thread).
This was the kindest, most informative explanation of an AOR that I've seen in response to such a simple question. I commend you for taking all that time out of your day to explain something so simple.
At this point I am gearing up to launch the AOR Saturday morning.
For the first round there are 20 cards that I have listed below in the order of application.
Foreign
BT BT Max Trans
Issuer Category Type APR Mo Fee % Fee Fee Card
1 BOA Personal Rewards 2.99% 7 4.00% no Schwab Bank Invest First Visa Credit Card
2 BOA Personal BT 0.00% 12 2.00% $30 1.00% NEA WorldPoints® Platinum Plus® Visa® Card
3 Chase Personal Rewards N/A N/A N/A N/A Chase Sapphire Preferred Card
4 Chase Business Rewards / Purchase 0.00% 6 3.00% no 3.00% Chase Ink Cash Business Card
5 Chase Personal BT 0.00% 12 3.00% $75 3.00% Disney Rewards
6 Citi Personal BT / Rewards 0.00% 9 3.00% $75 Associated Bank Rewards Credit Card
7 Citi Business BT 0.00% 12 0.00% $0 3.00% CitiBusiness Card with TYN
8 Citi Personal Purchase / Rewards 0.00% 6 3.00% no 3.00% Citi Forward Visa
9 HSBC Business BT 0.00% 6 3.00% $50 3.00% MasterCard BusinessCard® Card
10 PFCU Personal Rewards 4.99% 24 2.50% $100 1.00% Visa Platinum CashBack Rewards
11 AMEX Business Rewards N/A N/A N/A N/A 0.00% Gold Delta Skymiles® Business Credit Card
12 AMEX Personal 2.99% Rewards 6 0.00% $0 hilton HHonors® Card from American Express
13 Capitol One Business 0% Purchase 0.00% 9 3.00% no 0.00% Capital One® Platinum Prestige Credit Card
14 Discover Personal Rewards 0.00% 11 4.00% no 2.00% Discover More
15 5th 3rd Business BT 0.00% 6 0.00% $0 3.00% Insurbank Business Visa
16 5th 3rd Personal 0% Purchase 3.90% 18 3.50% no 3.00% Responsible Credit Card
17 State Farm Personal BT 0.00% 9 3.00% $150 1.00% State Farm Platinum Rewards Visa
18 Nat City Personal BT 0.00% 6 0.00% $0 3.00% Nat City Lifespring Health
19 Wachovia Business BT 0.00% 12 3.00% $99 3.00% Wachovia Visa Business Platinum
20 Barclay's Business BT 0.00% 13 3.00% $99 3.00% Bank Atlantic Rewards Business Card
Please let me know if you think I should add, switch, or remove any cards. I was going to apply for the Fidelity card as well (in case of future adverse action on the Schwab card) but didn't see the link when I complied this list. I will probably add it tomorrw.
Last time, I applied for all of the cards at once (a couple apps were phone only, most were online). I didn't fill out the applications ahead of time so it took me 3-4 hours to do 38 applications. This time I plan to complete all of the applications (in separate tabs withing one window) ahead of time before applying.
Although my inclination is to do all 20 applications as quickly as possible, it may be advantageous to focus on the four or five cards likely to get the highest credit lines before applying for the remaining cards.
I will be very aggressive in the number of cards that I apply for but I will also be methodical. As I will wait until I have all the cards (and balance transfer checks) in hand until I do any balance transfers the applications can be spaced over the next 2-4 weeks depending on what strategy will get the best results.
My only concern is gaming the application, credit line increase, and credit line transfer process. While adverse action after the fact is a major inconvenience, I plan to try to get away with as much as possible regardless of the consequences. I don't mind getting a high rejection rate on the overall cards I apply for but I would like to come away with at least one large credit line from Citi, BOA, and Chase as I already have large lines with them (they were also the most generous last time).
As two years have passed since my last AOR, feedback would be greatly appreciated.
I really would appreciate some feedback before I launch this AOR tomorrow.
Although I want to apply for all 20 cards, I am still trying to figure out if I should do all 20 on day one or try to get 4-5 BT cards approved before I try for the rest a couple days later.
All 20 is not a good idea (wasteful inquiries). I expect you knew this because you said so yourself but want validation from others.it may be advantageous to focus on the four or five cards likely to get the highest credit lines before applying for the remaining cards.Also, by applying for all 20 at once online in separate windows, many windows will likely time-out while entering each new app (robo forming). I will wait until I have all the cards (and balance transfer checks) in hand until I do any balance transfers...You're likely going to get adverse action and lost credit before initiating BTs My only concern is ... I would like to come away with at least one large credit line from Citi, BOA, and Chase as I already have large lines with them (they were also the most generous last time).Why do you think they'll be generous this time? Have you been aware of recent CHASE and BOA actions with respect to new applications by existing clients? everything is getting cut/shut down. As two years have passed since my last AOR, feedback would be greatly appreciated.Your passivity in asking for help is not always the best method. Your coin posts didn't help your cause here either.
All that aside, I am anxious for you to try all 20 and report back as to your experiences (I missed your 1st three AOR's)...by reporting your datapoints, I (and others) will likely be more willing to provide concrete feedback.
jackcrawfish said: My only concern is ... I would like to come away with at least one large credit line from Citi, BOA, and Chase as I already have large lines with them (they were also the most generous last time).Why do you think they'll be generous this time? Have you been aware of recent CHASE and BOA actions with respect to new applications by existing clients? everything is getting cut/shut down.
Thanks for the feedback.
I am optimistic about BOA and Citi because they have not taken any adverse action against me yet. Also, I have existing large credit lines with them that I hope to transfer to the new cards ($44,600 and $37,500 respectively).
Of the three, Chase worries me the most. Although they cut my credit lines down by roughly $50,000 I still have a combined total of roughly $25,000 across my existing cards.
Also, they initially capped my credit around $50,000 on two cards (GM Business Rewards - $48,000 and Chase Freedom - $2,500). I had pulled a fast one by getting an additional $20,000 after the fact on two co-branded cards (LaSalle / First USA and Chevy Chase Bank ; both had been recently acquired by Chase). They also acquired WAMU (I had two cards with a combined total of about $11,000). For these reasons I understand why Chase cut my lines and believe that I still have a shot at getting large lines from them if I ask for a CLI on a new card and they allow me to transfer lines from existing cards to make up the difference (this is how I turned 5 of the 38 applications into the $48,000 line on the GM card).
The other reason I think that these three are my best bet is that the other options out there don't look so great by comparison.
Of course last time Juniper gave me an instant approval of $20,000 so these things do not always go as expected.
Good luck on your AOR and thanks for documenting it. I think it'll be useful for others to see how your experience goes.
My thoughts ... 1. HSBC CLs generally too low to be useful for BT money especially with only 6 mos at 0% 2. Citi/Associated -- A lot of buzz that they may be closing cards soon -- 5% EDP may be going away. Possibly risky app if they decide to close your card a month after you get approved. 3. CrapOne -- multiple pulls but assume you're okay with it 4. StateFarm -- same as CrapOne 5. Discover More -- suspect this card may go downhill soon like Open Road, as Discover has consistently made things worse for their customers over the last couple years. Rewards program limited imo but fine for purpose of lowering overall utilization. 6. hilton AMEX -- AMEX recently has been reported to limit the number of personal rewards cards. Alternatively, could apply for one or more Citi AA card(s) for 30K bonus each then transfer to hilton at 2:1 ratio. hilton card is a pretty nice though with 6 HH per $ on some categories. 7. No US Bank no fee 0% BT ???
kintro said: Good luck on your AOR and thanks for documenting it. I think it'll be useful for others to see how your experience goes.
My thoughts ... 1. HSBC CLs generally too low to be useful for BT money especially with only 6 mos at 0% 2. Citi/Associated -- A lot of buzz that they may be closing cards soon -- 5% EDP may be going away. Possibly risky app if they decide to close your card a month after you get approved. 3. CrapOne -- multiple pulls but assume you're okay with it 4. StateFarm -- same as CrapOne 5. Discover More -- suspect this card may go downhill soon like Open Road, as Discover has consistently made things worse for their customers over the last couple years. Rewards program limited imo but fine for purpose of lowering overall utilization. 6. hilton AMEX -- AMEX recently has been reported to limit the number of personal rewards cards. Alternatively, could apply for one or more Citi AA card(s) for 30K bonus each then transfer to hilton at 2:1 ratio. hilton card is a pretty nice though with 6 HH per $ on some categories. 7. No US Bank no fee 0% BT ???
Thanks for your help.
US Bank requires a BT at the time of application (in the offers that I could find). Unless they will do a balance transfer directly to my checking account, I will wait until I have BT checks from other institutions so that I can deposit some of them to generate the balance to be transferred o the US Bank card(s).
Please let me know if they will do a transfer to my checking account so that I can move them up from round two to round one. Otherwise they will have to wait a week or two.
I will probably cut my AMEX applications back to one personal card and one business card.
Capital One and State Farm are near the bottom of the list. I will apply for them but not until the other cards have been applied for first.
HSBC's website says that their business cards have lines up to $25,000. I will probably call them first (before my other apps) to put this to the test.
Citi may change their offers but if I can deposit $30-40k of their money into my checking account beforehand it won't be my problem. Right now Citi BT offers are the best game in town.
jackcrawfish said: US Bank will mail a check to your bank account. I asked them to mail one to help payoff my line of credit (ie overdraft LOC) last year (see here)
Also USBank has quickly become unfriendly for arbitrage gamers. (see this thread) regarding advanced resolution services
Great news, I will move US Bank up on the list.
Thanks again.
joemama15
Member
posted: Sep. 25, 2009 @ 1:15p
The Bank Atlantic business card - 13 months at 0%, previously 15 months - has been one of the best cards for myself and others I know. All limits from 10-20k, and doesn't show up on personal. If it were me, I'd move that higher on the list.
Not sure if this was covered, but two of your cards -- Discover More & Delta -- have sign up bonuses through cardselection. If you are going to apply through that site, double check card T&C to make sure everything is acceptable.
I will wait until I have all the cards (and balance transfer checks) in hand until I do any balance transfers...You're likely going to get adverse action and lost credit before initiating BTs
Things may have changed in the last two years if this is the case.
In my massive launch to my previous AOR I did get many rejections due to excessive inquiries / new credit lines opened / etc. However, adverse action involving reduced limits and closed credit cards did not happen to me until at least a couple months after the AOR started.
For what it is worth the timeline for AOR 3.0 went like this (back in July 2007):
Day one (Saturday)- applied for 38 credit cards 2 1/2 weeks later (Wednesday) - called all new and existing cards to request CLI (this was spread over 2 days) 2 weeks later (Wednesday) - Had all BT checks in hand and deposited approx $165k into the bank at lunchtime. Called some institutions that evening for transfers to my checking account. 3 days later (Saturday) - Checked available balance to make sure all checks had cleared. Called remaining credit cards to transfer balances. Found 6-8 BT cards that I missed and applied for them (5-6 were approved). 2 days later (Monday) - attempted to transfer fund from checking account to interest bearing accounts at other institutions - Commerce bank put a 10 business day hold on the funds (entire 165k). 5 days later (Saturday) - received BT checks for last 5 cards, requested CLI increases on each from my car in the bank parking lot before depositing the last checks. It took me another week or so before the funds started earning interest.
I plan to work faster this time as I only expect to get a few large limits. Once I have the opportunity to deposit 60-80k I will probably do so and roll the dice that any remaining cards I would have gotten would have had limited proceeds to the extent that I would have been approved anyway.
If anyone has data points where the credit card companies were fast enough to catch on in the first month of an AOR that information would be very useful right now.
I may be confused because it was about 2AM when I read the FW thread but I thought the Delta miles deal had to be done directly to get all the points. Perhaps I have it confused with another card.
joemama15 said: The Bank Atlantic business card - 13 months at 0%, previously 15 months - has been one of the best cards for myself and others I know. All limits from 10-20k, and doesn't show up on personal. If it were me, I'd move that higher on the list.
13 months is great but my concern was the size of the credit limit that I would get. How generous were they with your credit line?
20k is very common...However, the line you are likely to get depends (in part) on your HHI.
datapoints of others (though all had existing Barclay's credit lines already)
warpork 8. Barclay's Bank Atlantic Business 0% 13 mo, $99 BT fee Denied. Called into talk to an analysit. She informed me that both this and the Barclay's Coast to Coast were denied due to not having enough different credit cards. She said that since I already had a Barclay's card with a 14k limit and only 1 other card that had a 50k limit they couldn't offer me any more credit as their current one is one of the highest available credit lines I have...Thought that was a bit wierd and talked to her a bit and she said she could re-allocate some of the available line on my current card to either the Bank Atlantic or Coast to Coast card. After a little more chatting she said she could give me an extra 1k to bring my total line of both cards to 15k. I opted to have her transfer 10k from my existing personal card to the buisness card and add the 1k additional to that as well. She did say that there would be no problem in the future reallocating this back to a personal line. I asked her again to make sure and she said yes, there's no problem moving between the business and personal either way, they're your cards and your credit. I thought that was interesting and some of you might find that interesting. Result: Approved for 1k, reallocated 10k from personal, total 0% BT available 11k.
zxx7x 3. Barclays Bank Atlantic Business Link 0% 13 mo, $99 BT fee I already have this card with an 11k balance (0% expires in 2 months), considering paying it off early, then applying for a second card and seeing if I can move over the old credit line. Result: Approved 21k, Inquiry TU
MikeR397's dad FINALLY got around to calling Bank Atlantic about my Dad. They asked income stuff real quick, looked over things, and instantly offered to move $44.6k over from his National Parks personal card. They said if I want any higher than $50k total exposure (he has another Juniper card that was $15k but reduced to $5k in 2008 credit crunch), that they'd have to get income verification and further documentation for review, which I declined, saying $44,600 was adequate. I guess thier policy is that anyone who has over $50k before got cut to $50k, and if they want to go back over, docs are needed. I passed on that hassel, although I probably could have got him a little more credit (but at the expense of hasseling him more than I want to produce the docs).
I suppose I still have to do the 2x $20k transfers only at $99k each, rather than one $44k transfer? Also, I think you also can only send funds to another cc, right, as they don't give BT checks or do direct deposit?
This was a big win today for at a minimum $40k at 0% max $198 fee for 13 months. I'm glad I finally called.
Chase gave me a $6.7K limit on my Chase Disney application two months ago, pulling TU, and then did a soft EX check (EX was frozen to hard inquiries). The same day I got the card, I got a notice from Chase that the Disney credit limit was cut to $1.5K. I was probably showing $20-30K of BT balances by this time on my latest AOR. HHI is $135K. I think Chase was watching me closely because they had killed $100K of cards a year earlier during an earlier BT AOR.
peteypablo said: Chase gave me a $6.7K limit on my Chase Disney application two months ago, pulling TU, and then did a soft EX check (EX was frozen to hard inquiries). The same day I got the card, I got a notice from Chase that the Disney credit limit was cut to $1.5K. I was probably showing $20-30K of BT balances by this time on my latest AOR. HHI is $135K. I think Chase was watching me closely because they had killed $100K of cards a year earlier during an earlier BT AOR.
My plan with Chase is to apply for one or two cards and then apply for the Disney card as well. If I am fortunate enough to get instant approval on all three cards (probably with low limits), I plan to call customer service immediately to request a CLI on the Disney card. If it works like it did last time, they will probably tell me that they can't do much of a CLI due to the overall amount of credit that I have with them (I already have six active Chase cards). At that point I will try to explain that due to the acquisitions of WAMU, Lasalle, First USA, and Chevy Chase bank, I have a lot of similar cards that I am not using and ask if these lines can be moved to the Disney card. This worked in 2007 when I moved my existing (and new) lines to the GM Business Card ($48,000 - cut to $500 after I paid off the card completely).
It has been several months since Chase cut my lines and I do use one of their cards for my purchases so hopefully they have forgiven me by now.
jackcrawfish said: CHASE no longer reallocates credit.
There is one very recent exception to this rule here via CLI
I read the threads about Chase, the only reason the logic of my last post makes sense is if Chase refuses the CLI because of the amount of credit I have with them. Instead of reallocating the existing lines, I would merely be asking Chase to close or reduce the existing lines so that they could approve my CLI on Disney as the existing lines would no longer cause me to have too much credit with Chase. At least that was the way Chase seemed to look at it in 2007.
I don't think it would make any sense to cancel or close existing lines prior to the AOR. I could do this but in my past experience, having big credit lines seemed to help me get big credit lines. During AOR 2.0 I listened to the customer service reps and reduced existing lines in hopes of getting better lines on new cards and it seemed to be counterproductive at that time.
jameshasty said: jackcrawfish said: US Bank will mail a check to your bank account. I asked them to mail one to help payoff my line of credit (ie overdraft LOC) last year (see here)
Also USBank has quickly become unfriendly for arbitrage gamers. (see this thread) regarding advanced resolution services
Great news, I will move US Bank up on the list.
Thanks again.Also call to do your BT with US Bank. lhendricks92 (now just a famous ghost) and others have had good succes with a call rather than entering info online. This post is available in the event you change your "wait and see BT strategy/plan"
call... don't use online because the fee free BT offer is good for 30 days from date of approval (trust me on this one as I am too lazy now to link it for you).
jackcrawfish said: jameshasty said: jackcrawfish said: call... don't use online because the fee free BT offer is good for 30 days from date of approval (trust me on this one as I am too lazy now to link it for you).
The spreadsheet in the OP of this thread has a column listing when the trigger has to be pulled so I should be able to keep track.
I will be sure to call them instead of using the online app.
jackcrawfish said: if you are referring to column "H" BT Timing, your US Bank prospective apps say "At time of app"
I guess as long as you know in your head that you have 30 days, you should be fine....
The spreadsheet doesn't include any new information that I gained today.
I will update it tonight when I get home from work.
Thanks!
joemama15
Member
posted: Sep. 26, 2009 @ 3:12a
jameshasty said: joemama15 said: The Bank Atlantic business card - 13 months at 0%, previously 15 months - has been one of the best cards for myself and others I know. All limits from 10-20k, and doesn't show up on personal. If it were me, I'd move that higher on the list.
13 months is great but my concern was the size of the credit limit that I would get. How generous were they with your credit line?
Thanks!
Date | Initial Limit | Next Day CLI
8/08 25k -
12/08 12.5k 17k
1/09 7.5k 12k
3/09 15k 20k
9/09 10k -
mdg1977
Tired Member
posted: Sep. 26, 2009 @ 3:21a
Hey, didnt you play cornerback for the New York Jets in the 90s?
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2b. The link to the NEA offer is dead. I culd not find any similar offer on the internet. As I already have an NEA card, I called the number on the back of it (800) 856-7338. After spending 20-30 minutes with customer service, they were finally able to find the AMEX version of the card (not my preference but it was the only one they cuold find with a $30 cap on the 0% BT offer).
I applied for the card by phone but could not get instant approval because "that department is closed on the weekend". They said that they would notify me by mail but I will call Monday to find out if they have any updates for me.
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