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Up until not to long ago, all of my cards were nearly maxed out, so there was no hope of doing balance transfers. Then I had to make a few purchases on Credit Card #4 (which had a zero balance for almost 2 years) and I get a letter in the mail letting me know that my credit limit has been increased by an additional $10,000.
10 GRAND!! Can you believe that?? With all the debt I am in??
Sure, it’s good news because I can do a balance transfer now and perhaps get some of my debt at a lower interest rate. But I can’t believe they did that. It furthers my theory that credit card companies do not look at your income whatsoever. They have certain triggers that go off in their system that says, “hmmm…I think if we give them a higher credit limit - they’ll spend more.”
They are right, I do plan on using the card now for a balance transfer. It is just a matter of deciding what debts I would like to transfer over. Within the next few days I will list the specifics on each loan (rates and such) and figure out the game plan.
I also have another trick up my sleeve that I plan on trying in the next few days to see if it works. I will keep everyone posted.
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Credit Card Debt
- Starting = $37,614
- Paid Off = $28,882
- Current = $8,732
- $25 ING Savings Bonus
Savings Account
- Current = $3,644
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