App-O-Rama question
May 21, 2014 | 2:17 am
#1
Original Poster
Join Date: Jun 2011
Posts: 3,752
App-O-Rama question
Question about App-O-Ramas.
I know the idea is to do several applications at once, so one application doesn't see the others. How is this impacted -- if at all -- if I'm likely have to call one or more of the credit companies to move credit around?
I know the idea is to do several applications at once, so one application doesn't see the others. How is this impacted -- if at all -- if I'm likely have to call one or more of the credit companies to move credit around?
May 21, 2014 | 7:04 am
#2
Join Date: Jul 2001
Location: DTW
Programs: Dirt Status w/ All
Posts: 5,049
It probably won't be an issue unless they decided to do a second credit pull when you call.
Be sure to research what the lines that you want to move from/to. Each bank has their own set of rules of what can and can't be done. It used to be a free for all, but much of that got shut down in the credit crunch. I was pleasantly surprised recently when Chase let me move most of my two month old IHG line to my new Slate with a 0%/$0 fee balance transfer.
Note that Bank 2 can see the hard pull that Bank 1 did 60 seconds ago. Be sure to prioritize your most wanted cards to the top of the list. What they can't see is if you just added $200K of new lines - those take weeks to show up on your report.
Be sure to research what the lines that you want to move from/to. Each bank has their own set of rules of what can and can't be done. It used to be a free for all, but much of that got shut down in the credit crunch. I was pleasantly surprised recently when Chase let me move most of my two month old IHG line to my new Slate with a 0%/$0 fee balance transfer.
Note that Bank 2 can see the hard pull that Bank 1 did 60 seconds ago. Be sure to prioritize your most wanted cards to the top of the list. What they can't see is if you just added $200K of new lines - those take weeks to show up on your report.