Community Area

|

Helpful Resources

Community

Popular Discussions

Home

Credit Forum

Credit repair

CREDIT CARD BALANCE.

Post reply Start a topic

Author

Message

Options

	Print this topic
	Invite a friend
	Email this topic

Bookmark online

	Add to del.icio.us
	Add to YahooMyWeb

sara

Joined: 13 Sep 2009
sara's page
Posts: 31

509 Magic Points

Subject: CREDIT CARD BALANCE.

Tue Oct 06, 2009 5:47 pm

[System detected duplicate content and converted into image.]

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4124

1011 Magic Points

Tue Oct 06, 2009 6:18 pm

Sara, I would suggest that it would be a good thing. It would save you alot of money over time. Now avoid closing out the other card if it has a long credit history. When you close older lines of credit your credit score could take a beating. I also would like to see others suggestions on this because this was something I was planning to do since one of my credit card companies recently raised the rates.

Justin

Justin

Joined: 17 Jul 2006
Justin's page
Posts: 1093

25288 Magic Points

Wed Oct 07, 2009 9:59 am

Hi Sara,

You can do it, provided you know about all the terms and conditions attached to the new credit card. Find out whether or not the interest rate for the new card is introductory only. Sometimes the interest rates rise after a period of time. You should also inquire if there are late fees or annual fees attached to it. Research properly before doing it.
_________________
All the Best Smile

Justin

carol

Joined: 27 Jun 2006
carol's page
Posts: 1308

28489 Magic Points

Wed Oct 07, 2009 10:31 am

Yes Sara

Check if these are only introductory offers because most companies usually increase their rates once the introductory period is over. If the rate is fixed then it is a good idea, but I would suggest consider the factors properly. Read through their offer properly to find any hidden costs. Ask them if you don't understand something. Don't be doubtful before signing any agreement with them.
_________________
Keep in touch
Carol

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4124

1011 Magic Points

Wed Oct 07, 2009 4:39 pm

I am personally glad to hear this. Recently with the downturn of the economy my hubby lost a lot of work and I have had almost none. We had made a credit card purchase that was a higher amount and can not have it paid off in time as we had hoped. I was looking to transfer the remaining amount that we do not get paid off come december. I was hoping this would not effect our score. I do see having to be careful with the rates and intro. offers. Does anyone have any idea where a person could go online to check out the different rates and what they offer? I would just like to tide this over until income tax and pay off the remaining so the intro would really only have to be six months.

Quick Reply

Your Name

Subject

Message body


Page 1 of 1