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Subject:  Re: Balance Transfers - A Silver Bullet? Date:  7/20/2003  10:20 AM
Author:  rah1420 Number:  165500 of 312185

I do see the use in balance transfers as a debt payment tool, but maybe we shouldn't suggest them as the first option to a newbie. (Were BT's suggested this frequently before the teaser rates came down to 0-4.99%? Maybe the current low rates are encouraging this as an earlier suggestion.)

Good question; I don't know. The other thing is that if a newbie user -- maybe with a marginal FICO -- takes the BT as a valid tool, they may actually do more damage to their score when they apply and are turned down. After all, we all know how good the credit grantors are at saying "You Are Pre Approved" in their mailings, when you know what they are really saying is "Your Name Is In The Credit Files."

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