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Jan 28, 2019
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Balance transfer

Hello, can I use a balance transfer offer even if the card is not fully paid off? What if I keep using the card?
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Jan 16, 2011
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Sternchen30890 wrote: Hello, can I use a balance transfer offer even if the card is not fully paid off? What if I keep using the card?
A balance transfer uses your credit limit. If you have $2000 available and balance transfer $1000 then you still have $1000 of useable limit. If you have $2000 and balance transfer $2000 your card will be at its limit. Balance transfers don't add credit to your limit.
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Sep 14, 2012
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Sternchen30890 wrote: Hello, can I use a balance transfer offer even if the card is not fully paid off? What if I keep using the card?
Yes, you can use a balance transfer offer even if the credit card isn't fully paid off BUT you can only balance transfer whatever credit amount you have REMAINING.

If your credit limit is $5000 and you've made purchases of $2000, you can balance transfer $3000 but this will mean you can't use your card as you've exhausted your $5k credit limit. Using the same credit limit, if you've made purchases of $2000 and you only balance transfer $2500, this means that you can use your card for ~$500 in additional charges.

That being stated, you'll need to read how payments are applied to your credit card. For example, if you made $2000 on purchases and made a balance transfer of $2500, if you make a payment of $2000, this might be applied to the balance transfer before the purchase which means that you could be paying the higher interest rate based on your purchase and not based on the balance transfer.

For me, if I get a balance transfer offer and I decide to accept it, I generally will only do it on a credit card which has a $0 balance and not use the card for any additional purchases after the balance transfer is made.
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Oct 13, 2014
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lmcjipo wrote: Yes, you can use a balance transfer offer even if the credit card isn't fully paid off BUT you can only balance transfer whatever credit amount you have REMAINING.

If your credit limit is $5000 and you've made purchases of $2000, you can balance transfer $3000 but this will mean you can't use your card as you've exhausted your $5k credit limit. Using the same credit limit, if you've made purchases of $2000 and you only balance transfer $2500, this means that you can use your card for ~$500 in additional charges.

That being stated, you'll need to read how payments are applied to your credit card. For example, if you made $2000 on purchases and made a balance transfer of $2500, if you make a payment of $2000, this might be applied to the balance transfer before the purchase which means that you could be paying the higher interest rate based on your purchase and not based on the balance transfer.

For me, if I get a balance transfer offer and I decide to accept it, I generally will only do it on a credit card which has a $0 balance and not use the card for any additional purchases after the balance transfer is made.
Additionally to this and to clarify, your credit card will always be charged the maximum amount of interest each month on those purchases until you have actually paid off the balance transfer and the purchases.
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