New Help w/ Credit Card Transfer Black Hole

[chocoheadfred]

Hi,

I sense there are many smart folks in this area and I'm for potentially some specific advice and maybe even some higher level sage types of wisdom. I've been playing the 0% interest credit card, balance transfer game for a while now.

Here's my current lines:

AMEX 0% Business Card (promo timeframe just expired 11/11/18)
$15k

WF LOC @ 8.750%
$20,144.75

Citi personal card
$1800k
(5/1/19 = $1800k)

Chase Slate, 0% until later next year
$8k

Should I keep playing this shell game or perhaps just take a hit and put it on in one lower interest account and start paying off?

Also, I'm open to hiring someone to help me figure this out too

Thanks!

Freddie

[ChaimMoskowitz]

You are in way over your head. Head over to creditboards.com for some help.

[ExGingi]

You are in way over your head. Head over to creditboards.com for some help.

+1

I would say that step #1 is to realize and acknowledge your problem.

What's the source of the debt? Are you living beyond your means? What adjustments can you make so that your income exceeds your expenses in a way that will allow you to pay down your debt and start saving?

[gozalim]

$1800k
(5/1/19 = $1800k)

did you mean $1,800,000 ?
or $18,000
?

[tzifanya54]

did you mean $1,800,000 ?
or $18,000
?

No personal card let’s you run 1.8 million.

[ludmila]

No personal card let’s you run 1.8 million.

For sure, none.

[gozalim]

So he's about 60k in the hole

[as2]

did you mean $1,800,000 ?
or $18,000
?

My gues was $1,800 or $18,000

[tzifanya54]

Either way definitely don’t just continue what you are doing it’s only going to get worse.

[chbochur]

Hi,

I sense there are many smart folks in this area and I'm for potentially some specific advice and maybe even some higher level sage types of wisdom. I've been playing the 0% interest credit card, balance transfer game for a while now.

Here's my current lines:

AMEX 0% Business Card (promo timeframe just expired 11/11/18)
$15k

WF LOC @ 8.750%
$20,144.75

Citi personal card
$1800k
(5/1/19 = $1800k)

Chase Slate, 0% until later next year
$8k

Should I keep playing this shell game or perhaps just take a hit and put it on in one lower interest account and start paying off?

Also, I'm open to hiring someone to help me figure this out too

Thanks!

Freddie

Pm me I should be able to help you (not eliminate everything but put you on the right track)

[ChaimMoskowitz]

No personal card let’s you run 1.8 million.

How high can Amex Plat go?

[ExGingi]

How high can Amex Plat go?

Why don't you try and report back?

[as2]

How high can Amex Plat go?

Meh. Amex is stingy. Maybe Amex corporate goes that high, but that's it.

[as2]

Why don't you try and report back?

Did. Usually maxed at 100k of spending power, but my current balance maxed at $66k

[chbochur]

How high can Amex Plat go?

Without tax papers the max for me was 550k on one card (with another 300k on other cards on the account) but it takes years of buildup

[as2]

Without tax papers the max for me was 550k on one card (with another 300k on other cards on the account) but it takes years of buildup

When was this? They have hard limits on the cards now. They pretend they don't, but there are actual credit lines behind the "charge card" mask.

[chbochur]

They have hard limits on the cards now. They pretend they don't, but there are actual credit lines behind the "charge card" mask.

Actually the opposite they used to not saying anything but capped off at some point now they give you a number but they let you spend just as before

[as2]

Actually the opposite they used to not saying anything but capped off at some point now they give you a number but they let you spend just as before

Right, but it's a hard number, and no matter which Amex card you hold, they won't let you past that number. Kind of ridiculous.

[chbochur]

Right, but it's a hard number, and no matter which Amex card you hold, they won't let you past that number. Kind of ridiculous.

The number fluctuates depending on allot of things. I have yet to see a set number

[as2]

The number fluctuates depending on allot of things. I have yet to see a set number

I have. And on the centurion card no less. Biz version. It's at the point where they require $ to be wired to them prior to transactions, in order to approve them.