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/biz/ - Business & Finance

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897843 No.897843 [Reply] [Original]

Babies first financial maneuvers here.

I need to move a balance from one credit card to a new card to skip out on interest payments but I don't know what card I should get. I'll tldr my background

>have jobs in college and have one credit card i got at 18
>by 24 i have 7xx credit score and 2.k debt
>graduate and cant find job
>live off debt now 6k and credit it score tanks to 5xx
>get job a few months ago
>debt now low 1k and credit score is 7xx again

My current card is some crap into student card from Capital One. The interest sucks and I'm also paying for payment protection (which i used when i was unemployed and get like 4k out it kek). I'm thinking since I have decent credit and stable income and little debt a new card would be great for skipping out on interest and probably getting into something with better benefits. Right now I get a 'mile' per dollar and something like 3-5 or some shit 'miles' for dollars spent on gas and food and when I accumulate 5k 'miles' I get twenty fucking five american dollars. FREE. I'm sure I can do better than that.

So /biz/ what is it. Will this work? What card do I get?

>> No.897885
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897885

Check nerdwallet.com to find the best balance transfer card.
Go on creditboards.com and check the creditpulls database for your area and remove the cards that are unlikely.

I wouldn't recommend most balance transfer cards without either a very very high limit offered or very low permanent apr. that's because manufactured spending exists. the cost of manufactured spending is usually under 1% with benefits exceeding 1%. with a 1% or greater reward system you rebalance cards at profit instead of the standard 3% upfront balance transfer cost

but first and foremost you need a strategy check. read the credit secrets bible in the pre-sticky and get your mind right.
http://dropcanvas.com/zpf5p

as always your expenses are underreported
Your salary is 10k higher and your grandma is dying and you're getting an inheritance, and you're so good at your job you're getting a 10k dollar quarterly bonus.
and I don't care if you are a janitor at mcdonalds your job is "Management". Sanitation management perhaps

check out flyertalk forums and doctorofcredit as additional resources

>> No.897945

>>897843
Chase SLATE. 100% you cannot get a better balance transfer card than that. Check if you're pre approved first. Just pay the balance off and enjoy 0 APR for the first 15 months or some shit.