Credit Cards

Tipping The Scales of CC Approvals

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  • May 14th, 2021 6:00 pm
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[OP]
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Mar 27, 2021
76 posts
79 upvotes

Tipping The Scales of CC Approvals

Going through the process of applying for credit cards, all applications ask if you'll be transferring a balance along with the stated amount.
Does the presence of a balance transfer on a CC application increase the chances of an approval? After all, it's source of income for the lender.
Should some with mediocre credit which are often times declined. Would a balance transfer option on their application increase the chances of approval?
Maybe someone in lending can shed some light into this.
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Deal Guru
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May 8, 2009
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Going to the Moon
No, requesting a BT during card application will not increase the chance of approval. In fact, even when we apply for cards specifically for BT's, we still don't request the BT at the time of the application.
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Deal Fanatic
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Aug 24, 2016
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The Prairies
My personal opinion, no it will not have any effect on your approval odds.
Banks are in business to make money, and if the applicant has mediocre credit, they may end up costing the bank money in the future, rather than the bank making money.
If one does get approved with mediocre credit, odds are the assigned limit won’t be high enough to do a meaningful balance transfer anyway.
[OP]
Newbie
Mar 27, 2021
76 posts
79 upvotes
titaniumtux wrote: In fact, even when we apply for cards specifically for BT's, we still don't request the BT at the time of the application.
Any reason for actively avoiding declaring this at the time of application?
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May 8, 2009
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Going to the Moon
jdithk wrote: Any reason for actively avoiding declaring this at the time of application?
Doesn't punch out with optimal timing. Could shorten the BT promo duration.
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