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I'll preface this by saying any and all help is appreciated and whatever info, specific bureau and/or version scores, etc. that you need to better assist me let me know and I'll post it ASAP.
Also, if this isn't the right subforum for this thread, please move.
I would like to consolidate and pay off about 26k of debt. In addition to a new better paying job I just got that will help me pay this off, I would like to consolidate as much of it as possible onto some sort of 0% Interest credit card/loan/whatever to help minimize additional costs. My info is below, and then my questions after that.
-DEBT/SOURCE/INTEREST - 13k on a USAA card with 9.15% (prime +5.65%) interest, 6k on a USAA Auto Loan with 8.99 APR that accrues on an actual/365 basis, and about 7k on a BoA card I got last year with a 0% Interest promotion that ends next month, at which point the interest becomes 19.24%.
-UTILIZATION - 98/99%, though I just got the new job so that will be going down steadily, and I'm overdue for CLIs on both cards, which I will be requesting next week after salary details are finalized. I'm looking to ask to raise my limits to 20k on usaa and 15k on BoA respectively, though any thoughts/advice on that is welcome!
-CREDIT SCORES: Again, let me know which specific scores you need, but as of today the FICO Score 8s are 676 Eq., 678 TU, and 691 Exp.
-CREDIT REPORTS: Clean, no issues.
QUESTIONS:
-What credit card would you guys recommend I get that would give me as high a CL as to allow me to put most of my debt on it AND minimize my interest for as long as possible? I was originally looking at CITI Simplicity, but I've read they give very low CLs. Is there another 0% Interest/BT card out there that has close to a 21 month promo period? I know Chase Slate only allows 15 months, and Discover It allows 18 months. Any thoughts on their starting CLs?
-For what I'm looking for, would some sort of loan be a better way to go? If so, any recommendations?
-I've heard good things about Credit Unions, though I don't know if I'd be eligible for any. I live in Leesburg, VA, work in Herndon, VA and went to college in CT, so the only credit unions I may be eligible for are Apple Federal CU, or maybe one in CT since I went to school there, but I can't find a lot of info. Any thoughts?
Again, any help would be appreciated, and if you need more info, let me know. Thanks!
@Anonymous wrote:I'll preface this by saying any and all help is appreciated and whatever info, specific bureau and/or version scores, etc. that you need to better assist me let me know and I'll post it ASAP.
Also, if this isn't the right subforum for this thread, please move.
I would like to consolidate and pay off about 26k of debt. In addition to a new better paying job I just got that will help me pay this off, I would like to consolidate as much of it as possible onto some sort of 0% Interest credit card/loan/whatever to help minimize additional costs. My info is below, and then my questions after that.
-DEBT/SOURCE/INTEREST - 13k on a USAA card with 9.15% (prime +5.65%) interest, 6k on a USAA Auto Loan with 8.99 APR that accrues on an actual/365 basis, and about 7k on a BoA card I got last year with a 0% Interest promotion that ends next month, at which point the interest becomes 19.24%.
-UTILIZATION - 98/99%, though I just got the new job so that will be going down steadily, and I'm overdue for CLIs on both cards, which I will be requesting next week after salary details are finalized. I'm looking to ask to raise my limits to 20k on usaa and 15k on BoA respectively, though any thoughts/advice on that is welcome!
-CREDIT SCORES: Again, let me know which specific scores you need, but as of today the FICO Score 8s are 676 Eq., 678 TU, and 691 Exp.
-CREDIT REPORTS: Clean, no issues.
QUESTIONS:
-What credit card would you guys recommend I get that would give me as high a CL as to allow me to put most of my debt on it AND minimize my interest for as long as possible? I was originally looking at CITI Simplicity, but I've read they give very low CLs. Is there another 0% Interest/BT card out there that has close to a 21 month promo period? I know Chase Slate only allows 15 months, and Discover It allows 18 months. Any thoughts on their starting CLs?
-For what I'm looking for, would some sort of loan be a better way to go? If so, any recommendations?
-I've heard good things about Credit Unions, though I don't know if I'd be eligible for any. I live in Leesburg, VA, work in Herndon, VA and went to college in CT, so the only credit unions I may be eligible for are Apple Federal CU, or maybe one in CT since I went to school there, but I can't find a lot of info. Any thoughts?
Again, any help would be appreciated, and if you need more info, let me know. Thanks!
Credit unions which are not hard to join: Alliant, NASA, Penfed, MECU Baltimore
Thanks for the help thus far. When you posted I was actually looking up CUs to join, and read about Alliant and Connexus, etc.
My biggest question is - while some of these CUs may be easy/cheap to join, is there any way to find out if they'd give me a loan with a duration, interest rate, amount, etc. that I'd want BEFORE joining? Or is the standard strategy to join a few and then apply and see what happens?
Good luck!
UPDATE: I finally requested my CLIs. USAA approved 2k only and BoA denied it entirely. It's a good thing I got something, because after two months of promising me a job, the company I was working for went back on their promise, and now I have bigger problems than getting my finances in order to worry about.
Question: I think I read somewhere in the forums about appealing a cli decision. Anyone have any experience/advice on that? I was thinking on appealing the BoA decision. Any thoughts welcome!