Credit Cards

[luvfran]

Hello,

I am currently carrying approximately $5500 in credit card debt.  However, my credit score is suffering due to high balances in relationship to low credit limits.  Does anyone know of a card that will allow me to transfer all balances (or a few that will let me transfer portions) at a lower, preferably introductory, interest rate?  I am paying over the minimum due every month, but am hoping to open a new credit card (or cards perhaps) that will allow to me to pay off the balance of all cc debt much faster.  Any advice?

Respective FICO scores are as follows (as of today):

TU: 648

Experian: 645

Equifax: 621

Thank you in advance for help!

[Creditaddict]

try the pre-approval site for bank of america and see if they offer you anything. once you get approved you can call back door number and tell them your intentions to consolidate all payments to one and they might increase you to enough to do this.

[luvfran]

Tried that actually, no such luck.  Any other suggestions?

[Creditaddict]

a local credit union and a signature loan.

[luvfran]

A signature loan from a credit union?  Or elsewhere?  I don't know what that is.

[Creditaddict]

My credit union calls there unsecured loans a signature loan.

Personal loan from a credit union is probably your best bet to consolidate. probably a 10-15% rate though.

[concorduser]

It is just like regular loan except you get charged interest on only amount you borrow on the account.

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luvfran wrote:

A signature loan from a credit union?  Or elsewhere?  I don't know what that is.

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[ccats704]

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luvfran wrote:

A signature loan from a credit union? 

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Do you know of any other credit unions besides Penfed?

[Creditaddict]

I would look local.

I don't qualify for any of the credit unions contantly posted on the boards, they all require memberships (mostly military of some sort).

a lot of local ones (maybe through your employer) are open enrollment (meaning you put $25 into a savings and your in)

google "your city" credit unions - to get a list and call them and ask if they are open enrollment, if they are go check them out.

[cheddar]

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Creditaddict wrote:

I would look local.

I don't qualify for any of the credit unions contantly posted on the boards, they all require memberships (mostly military of some sort).

a lot of local ones (maybe through your employer) are open enrollment (meaning you put $25 into a savings and your in)

google "your city" credit unions - to get a list and call them and ask if they are open enrollment, if they are go check them out.

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NFCU and USAA are the only ones you need a bona fide military affiliation to join.

You can get into Penfed, Patelco, JFCU, NASA, Digital, Addison, Delta, etc. etc. by joining an affiliated organization.