balance transfers affect card applications

[johndoe]

Do balance transfers affect card applications? If I have a free BT with bank A's visa already, and I apply for a visa with bank B with no BT, will they know about A? Will it affect my application?

Same Q, if I apply for a visa with bank B with a BT, will it affect my application then?

 

[NM]

Do balance transfers affect card applications? If I have a free BT with bank A's visa already, and I apply for a visa with bank B with no BT, will they know about A? Will it affect my application?

Same Q, if I apply for a visa with bank B with a BT, will it affect my application then?

Whether you have used a balance transfer into a credit card account is not generally relevant to the application process. What is used is the total potential credit (i.e. total of the credit limits for all cards you have).

And of course they will know about all your existing credit cards. The application process will ask you to provide the details of all your credit cards, and lying on your credit application is not a wise move.

 

[johndoe]

And of course they will know about all your existing credit cards. The application process will ask you to provide the details of all your credit cards, and lying on your credit application is not a wise move.

True, but I mean, if I'm wanting to move one BT to another bank, how can I indicate that I'm going to cancel the old card rather than trying to double my limit?

Yet by same account I cannot cancel the old card 1st as I still have a BT on it. Since it's all automated I may be rejected based on incomplete info?



Also, what's the purpose of asking how long u've lived in a place? Employer I can understand, but is moving homes bad too?!

 

[Pollywaffle]

Sometimes when applying, you are given the option of saying you will pay out and close other credit cards.

If you want to make sure this is registered, perhaps you should apply on a paper-based application and write that information down so it is seen by the data entry operator.

And yes, it does matter how long you have lived in one place. Like employment, your residential status *tends* to indicate stability.

 

[NM]

True, but I mean, if I'm wanting to move one BT to another bank, how can I indicate that I'm going to cancel the old card rather than trying to double my limit?

Yet by same account I cannot cancel the old card 1st as I still have a BT on it. Since it's all automated I may be rejected based on incomplete info?

I assume the honest way is to note the old card and its limit since for a short time you will have both cards. Only other option is to speak with a person at the credit card company rather than just applying on-line.

Also, what's the purpose of asking how long u've lived in a place? Employer I can understand, but is moving homes bad too?!

Its to confirm your identity so they can be sure they have the correct you when they do a credit search.