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Question By
Terperine

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How to shop around rates and credit limits
My wife is looking to open a new card for a balance transfer in the short term and everyday use in the long term. We've narrowed her options down to four cards, and now we need to decide which one(s) to try to get. We're having trouble with the fact that we won't know what rate/credit limit she is given until after the approval. What if she gets approved for her top choice but the credit limit isn't high enough to transfer the full balance? Should she cancel the new card because she is unhappy with the terms? Will it now be harder to get approved for the next choice because the first choice hard-pulled her credit history?

These questions are running me in circles. I've also considered the possibility of applying for two cards to hedge our bets, then cancelling the one we don't want when we receive it.

Any advice on this? What is the "right" way to shop around for rates and credit limits?

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