best credit card debt combination
I am looking for some down payment seed money to expand my real estate rental property holdings. I currently only have 2 rental properties (I have had a total of 5 over the last 12 years so I am small time, but somewhat experienced), but am looking to expand. Maybe buy four 30k-40k homes in next year. So several questions.
1. I have two chase ccs. One has a 27k credit line (which I have had for 10 years now) and 0 balance. I rarely use it. The other has a 30k credit line. It is new. I have 20k balance for businesses expenses (another business I have). It is 0% apr for the next 5 months and then 9% or so kicks in. I have the cash to pay it off, but would rather use those funds to help me buy some more rental property. I am wondering what having a 20k balance on a 30k card plus a 0 balance on a 27k card does to my credit score. It is otherwise excellent (runs from 750 to 800 on any given day). I will need an excellent credit score because I am looking to get loans for some more investment properties and possibly apply for some more credit cards with 0% balance for 18+ months for some more seed money. I have about 30k seed money available to me right now (not including money I have set aside for daily expenses) and would like to add another 30k in new credit card money. I won't use the old line (and could close it if necessary) because it doesn't offer me 0% intro offers. Closing my oldest account though would probably hurt my credit score. I will be able to pay off the credit card money I borrow in 2 to 3 years with some extra money I have coming in (from a house sale), so carrying a balance is not a worry.
2. Which credit cards offer the best 18+ month 0% apr WITH A SIGNIFICANT CREDIT LIMIT? Getting a 5k credit limit with a discover card is a waste of time. I am looking for 15k minimum and 30k ideally. I already have two chase cards, so they are less desirable as I can't transfer a balance to them if i want to. The two discover cards I have had in my life have always been low limit. For some reason, citi always rejects me even though I have excellent credit. I don't want a card that starts with a low balance and then works its way up, as I am looking to do the 0% apr use of funds right away, while the offer has the longest staying power. Finally, I am looking for a card with the lowest monthly payback rate, so to keep my DTI as low as possible. Currently, my Chase is 1%, which is good.
3. Recommendations on easiest way to pull money from card to checking account. Thus far i have buying things on my business card and putting the sales revenue into my checking account. Works great with 0% apr, but takes time. I can write credit check for cash, but am usually limited to 5k limit and have to pay 3%. Can run it through paypal as business purchase with family member and pay 3%, but may be illegal/unethical. Could even do paypal gift at 0% fee, but probably is definitely illegal/unethical. I see some cards allow you to transfer money from card to checking account for lower fee (as low as 2%), but not sure if they give you much of a limit. See below.
http://www.moneysupermarket.com/credit-cards/money-transfer/