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Will someone please explain balance transfer to me...


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Okay...I was approved for a HSBC MC $1250 CL at 0% APR.xdancex I had the option to transfer up to 3 CC's, so I transferred the 3 that had annual fees:

Orchard Bank $500 CL + Ann. fee

Hooters $500 CL + Ann. fee

Cap.1 $500 CL + Ann. fee

My question is....Are they going to make my initial CL bigger?

I guess I basically need for someone to explain the balance transfer thingy to me bc I've never done this before...

Thanks in advance you guys...;)

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No, you can only transfer what you available in your CL. Sometimes less depending on the credit card. There is also a balance transfer fee that will impact what you can transfer because you don't want to go over your limit. You can probably transfer two of your cards but not all three.

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