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Transfer balance credit card did not offer enough, what now?



  • Official comment
    Victor D

    Hi Barry -


    It looks like I replied to you about this via e-mail yesterday.


    Best regards,


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    my opinion, you should have completed the partial transfer and used that 0% to pay down half of your debt. You could then immediately apply to another card for transfer of the remainder. 0% intro are everywhere. The beauty of a 30 second approval is that you could have made all these moves before any of them knew about each other. but now that time has passed, the jig is up.your report will show multiple inquiries and new balances that may be incorrect and you've paid interest while it happened.

    moving forward, you'll have to do your DD to make sure everything now looks correct on your report before you take another action. enough time has passed for your credit report to look correct.
    My advice is to start over from scratch and hope for the best. if someone gives you 15-20 months interest free TAKE IT. even if it is partial. if it takes 4 new cards to roll that balance up 0%, then that's what I would do(that's what I did for myself) 

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    Barry Hohstadt

    Thanks for you advice. The thing is despite my excellent credit score they took 10 days to approve me, then only gave me 5,000 of credit and started the transfer without telling me they couldn't meet my request for 8,500. The truth is I was kind of angry about the way they handled it and I cancelled. So maybe I made a mistake. But now one of my cards is offering a 12 month 0% transfer, although charging 4%. It is the card with the lessor amount so I am considering it. It won't hit my credit score and in 10 -12 months I can apply again. Thanks again for taking the time to respond.

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