Do You Have Any Advice On Credit Card Consolidation?
My interest payments need to be brought down, Big Time! Can someone please help me with advice on credit card consolidation?
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I will consolidate my balances if and WHEN I get a deal.
Paying bills on time is what gets your credit score high enough to do this in the first place,
but for example, one of my credit cards gave me a 6.99 interest for the LIFE of the loan.
another one gave me a similar deal. Those deals are so incredibly awesome. Especially with the economy the way it is.
I have only 1 that is giving me a 0% until Oct. So I do that. If I get a better offer by Oct then I will take it. Even if its only :another promotional offer i.e. Until (such and such a time)
Now a word of caution: There is USUALLY a transfer fee you need to know about.
Also if you get a "promotional" rate, put that credit card away and don't use it for purchases. Usually a credit card company will do is to put your payment towards the LOWEST interest first. Which means the higher interest keeps adding up.
So you need to be careful of that.
Paying bills on time is what gets your credit score high enough to do this in the first place,
but for example, one of my credit cards gave me a 6.99 interest for the LIFE of the loan.
another one gave me a similar deal. Those deals are so incredibly awesome. Especially with the economy the way it is.
I have only 1 that is giving me a 0% until Oct. So I do that. If I get a better offer by Oct then I will take it. Even if its only :another promotional offer i.e. Until (such and such a time)
Now a word of caution: There is USUALLY a transfer fee you need to know about.
Also if you get a "promotional" rate, put that credit card away and don't use it for purchases. Usually a credit card company will do is to put your payment towards the LOWEST interest first. Which means the higher interest keeps adding up.
So you need to be careful of that.
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Credit card consolidation is not easy as credit limits are just awful these days. Your new mantra would be to work on paying more and spending less. You could try some of these options - switch that debt over to somewhere else, consider taking out a low interest
unsecured loan to pay off your debt or split the debt up between 2 or 3 new credit cards that carry 0% balance transfer offers. You could also look for advice from online credit card services like BillShrink.com.
unsecured loan to pay off your debt or split the debt up between 2 or 3 new credit cards that carry 0% balance transfer offers. You could also look for advice from online credit card services like BillShrink.com.
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