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posted: Oct. 20, 2016 @ 7:10p
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posted: Oct. 20, 2016 @ 7:44p
what do you owe on other debts that you are trying to pay off? can you get a home equity loan which at least doesn't expire quickly? You already have 22K in 0% CC debt that will presumably become very expensive sometime not too far in the future.
IF you are searching for Balance Transfers, do NOT look to Chase for relief from the Chase accounts. Balance Transfers would have to come from other sources to pay off or pay down Chase accounts. Scroll thru the Fat Wallet thread for Balance Transfer suggestions:
Log in to your Chaseonline account. Go to Balance Transfers. Look at the offers available for each card. You can probably call Chase on the phone and request $15k be transferred to checking under any of those available offers, if you say that's the checking account that is normally used to make the payments on the card in question.
JW10 said: IF you are searching for Balance Transfers, do NOT look to Chase for relief from the Chase accounts. Balance Transfers would have to come from other sources to pay off or pay down Chase accounts. Scroll thru the Fat Wallet thread for Balance Transfer suggestions:
https://www.fatwallet.com/forums/finance/902958?start=1900 The exception is Chase may regularly send the offers to you as checks through the mail, too. (On every one of my cards they do this, but they usually send the checks out a ~month after the offer, so you lose 1 month). The check you can then go and deposit and it shows up in your checking account 2 days later (at least, that's when mine posted). Then you can pay a chase card from your checking account.
Chase is my favorite bank. I am buying an established small ecommerce, all cash except for a $15K promissory note due in 7 months after COE. Revenues are around 90K annually and it is home based with minimal inventory and not many expenses.
Chase sent me a $300.00 coupon if I open a business account so I will be doing that...and $200.00 to open a savings account.
I have a PENFED personal loan of 25K at 12% that is going to be $500/mo to pay back....that needs top pay back priority.
I actually borrowed that money from my EX....who lives with me again.
I have 0% offers from my Chase Slate 12K CL and Chase Freedom 14K CL ...one card I owe 6800K the other is at ZERO.
I have 0% offers from Discover as well.
I am pretty confident Chase will hook me up with a 0% business credit card.
I already have one offer from US Bank in case they don't.
I am in escrow now and am supposed to close in November, but the sellers are dragging their feet!
I know the banks will loan to me if I shift my debt around.
chatterweb said: I have a PENFED personal loan of 25K at 12% that is going to be $500/mo to pay back....that needs top pay back priority.
Have you logged into your chase online for your ink cards and looked if it shows any balance transfer offers available? Those would be the ideal to transfer to if possible to pay off the insane rate loan you have. The bus cards are better to transfer to as they will not affect presonal credit report/score at all, even if you transfer them to ~100% of credit limit, whereas balances on personal cards all pull down the credit score (The larger percentage of the credit line on single cards, the more it pulls it down. Also the larger percentage of total credit line also pulls it down)
Yes, I did check out my Chase Ink cards, no BT offers right now.
I got a few Business credit cards after I got an EIN # in 2014 for a business I was going to start up. I have a Discover business card, no offers I have 0% offers on my regular Discover card, but I already owe on a 0% deal, so I do not want to use my regular Discover I have 2 Chase Ink Business cards but no offers right now, I said that already.
Right now I have an offer from Chase Freedom for 14K at 0% thru 8/17 on a card that is at 0 debt so I will deposit less then half of that in my checking account before COE, I will use $1000.00 to fund my Chase biz account and will get $300.00 from Chase when I open the biz account. Opening a savings will earn me another $200.00 with Chase.
This business makes between 7-12K a month, so after I acquire it, I am confident that I can pay everyone off while still maintaining the operating expenses of the business!
There will be a lien placed on the biz until I repay the 15K to the seller, which is at 0 interest...
I also have a Union Plus Credit Card that is worthless, and a Wells Fargo card, but I notice that Wells is very conservative on lending credit.
FNBO might loan me money and Penfed is also a contender, after they get paid back!
I have had an auto loan with Penfed and do have a credit card with them also.
I do own real estate: both my house and a small commercial property, as well as a separate trust account from an inheritance in 2013 and another trust account from an inheritance earlier this year but no equity has been tapped ever on either property.
I am determined to use OPM for this established biz that I am acquiring.
Have you considered using other credit cards with 0% offers? Logix CU is a good one if you qualify with 0% for both BTs and cash advances for 12 months with no fee. Navy Federal Flagship Rewards has a 0% 12 month no fee BT offer good until the end of this month. Alliant frequently offers 0% no fee for new cardholders.
Your best bet seems to be to take the Chase Slate offer for your PenFed loan as long as there's no fee.
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