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- Mar 26, 2005
Any issue or transferring balances from a recently opened CC to a new one?
I have my Chase freedom still in 0% APR until January. My other bank has an offer for a card with 0% APR on transfers and new purchases for the first 15 months. Is there any kind of negative impact on credit score if I choose to transfer my freedom balance to the new card if I get it before January? I can pay it off before APR kicks in, but that will be very aggressive on my budget. My current budget has me paying it off by next May with only about $120+ in interest accrued (not a lot).The new card has rewards and a bonus $500 that I'd want.
I just recently did that myself! I opened a new Chase card (the Slate) got approved for 5500. I transferred all 3 of my credit cards into the new Slate. 2000 from Sams Club card, 700 from Macys and 1000 from a Capitol one card. The Slate also has the 15 months no interest, My payments come to around 250 but I pay 300 a month to pay it off a little faster. This was honestly the best thing I ever did, no lie I felt like i was never going to pay my Sams Card off anymore 150 dollar payment 60-70 went straight to interest. Hopefully by income tax ill have it all paid off, only to worry about it my card. Felt good yesterday to get my Sams bill and have a zero balance on it.