I put $12,000 on my current Visa card to participate in the advanced coaching program and did so with the intention of transferring that balance to a new 0% interest card. I get the offers all the time, always saying I'm pre-approved, etc... I figured, no problem.
Problem. I applied for both a Chase Platinum card and a Discover Platinum card. Discover got back to me first with a rejection notice based on a lack of enough credit history. That bummed me out, but Chase sent a pre-approval letter to me, which I understood had up to 15 months of 0% interest on purchases and balance transfers. I returned the approval letter and they sent me a card. Not a platinum card (does not say platinum anywhere), and only 3 months of 0% interest on balance transfers, standard rate on purchases.
But here's the clencher: the limit is $1,400! I can't even get myself into trouble with that amount, let alone take a $15,000 balance transfer and only have the reduced interest rate for 3 months! This isn't looking good. I'm going to talk to Angela at Teach Me To Trade to see if she can help me out talking to them. Hopefully we'll be able to get 0% interest for at least a year and be able to transfer the whole amount, ideally with some dollars to spare to put into my brokerage account.
Do I feel I'm on thin ice right now? You betcha! I'm not going to panic until after my people talk to their people to see what we can do :).
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