YOUR CREDIT CARD OUTLET

Balance Transfer from Citi to Capital One?

This is all new and confusing to me. I have a Capital One credit card with 1,000 limit and it has $980 on it now. I just got a new credit card, Citi and it has a 4,000 limit. They are both student cards as Im a senior in college. I want to close out my Capital One Card/Account and just have my Citi credit card, so I did the balance transfer to rid Capital One. I transfered 980 from Citi to C.O. to pay it off. They charged like 1,010 total to do this, so Im confused- did I do it right? What I’m wanting to do is to get rid of my C.O. card to just have my Citi and wanted to pay it off with my Citi, so I thought a balance transfer was how to do it, so did I do it correctly and how long till it posts? I’m geussing something happened since my Citi account says 2,990 avaliable credit but nothing is posted on my C.O. account?

One mistake you are making is closing out your old credit card account.
Closing accounts hurts you in 2 ways.
1. You are reducing the overall available balance on all your cards – a number creditors look at.
2. You may be deleting your oldest credit card account. Length of credit history is 15% of your fico.

I’ve heard these transfers can take time.
Take care of your credit. You’ll need it now more than ever since employers check.
Don’t ever let your balance touch more than 25% of your available balance.
For top scores – pay the balance in full each month.
Maxing out is a good way to devastate your credit scores.
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