Let me preference by say that I have a great credit score (usually 790 + , currently hovering around 750 after buying a new house, and financing a new jet ski (1% apr) and new truck (3% apr) in the last 12 months) so I’m pretty set on big purchases for awhile. My wife and I keep our finances completely separate for the most part.
My wife does not have great credit due to some divorce shit she’s been battling with for over 10 years. She has finally started making really good strides towards being CC debt free. Yesterday I opened up a new Discover card in my name for 0% apr balance transfer for her to use. I was approved for 10k. She still has about 19k of debt on an AMEX to deal with. We were going to transfer as much as possible onto the Discover while she focuses solely on the other debt. I’d like to be able to move over more to a 0% card. Any chance I’ll be able to get a large CLI while only making minimum payments on the Discover? Or should I just try for another balance transfer card and hope I get a good starting CL?
Possible CLI while holding a large balance?
byu/Character-Strain-593 inCreditCards
Posted by Character-Strain-593
2 Comments
Getting a CLI while taking advantage of a 0% promo is extremely rare, even more so if it was a BT (and not for purchases). If it does happen, then it is after the outstanding balance is paid off.
Discover is tough. It really depends for each account. I have 725 credit score and an $1,800 limit with Discover. I’m never late and pay off the balance on time every month and have been requesting a CLI with them for about 6 months now and can’t seem to get one. You can try, it’s only a soft pull on your report so it doesn’t affect credit. However, you may not be able to get a CLI until 3-6 months of having the card so just do a little research. Might be better to open another 0% intro card for the rest of the balance.