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TOPIC: balance transfer with credit score of 640?

Re: balance transfer with credit score of 640? 7 years 6 months ago #1

  • Joeyman
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Patrick is correct.
I would try your local credit union. If you aren't a member you can still join and request a loan. Do some research online and see which Credit unions offer best rates and some have Min/max loans.
GL

Try and find a credit union that doesn't co-brand their products. For example, it is common for smaller regional banks to use Elan Financial Services (owned by U.S. Bank) to issue credit cards.
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Re: balance transfer with credit score of 640? 7 years 6 months ago #2

  • MajtykaMadness
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Patrick is correct.
I would try your local credit union. If you aren't a member you can still join and request a loan. Do some research online and see which Credit unions offer best rates and some have Min/max loans.
GL
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Re: balance transfer with credit score of 640? 7 years 6 months ago #3

  • hjm331
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I agree with Patrick.
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Re: balance transfer with credit score of 640? 7 years 6 months ago #4

  • patrick12
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Its going to depend on how your overall financial picture looks, age of trades, balance to credit limits, and the age of your collection. Before I would pull the trigger on a BIG bank such as US Bank or Citi, I would check with your local bank or even a credit union as they tend to be more understanding than some of the big boys out there. A 640 score is considered fair, that being said, you may not want to add inquires to your credit report just so the prime bank can tell you no. Best of luck with getting your finances in order! :cool:
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7 years 6 months ago #5

  • otter5001
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Hi guys,

Any ideas on what my chances are of getting a new credit card with a limit high enough for a balance transfer of $4000?

My TU credit score is around 640. I've got one collection that's paid off and one that I'm paying as agreed, but I don't have any late payments. I've got 15k in student loans that are being paid as agreed, and high util on 7k of credit card debt that's being paid as agreed.

I want to transfer the 4k balance on one of my cards to a balance transfer card with a 0% intro offer. I'm getting some extra money and will be able to pay it off over the next 6 months, and the card it's on now has a ridiculous interest rate (26%).

I'm planning on applying for the following next week or so after I've paid my bill and before my CC compnay does the next bill:


US Bank Visa Platinum

Citi Platinum Select Master Card

What're my chances with these two? Any others I should try?

Thanks
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