I'm trying to do some debt consolidation. I'd like to roll the balance from a high interest (20% APR) credit card to a lower interest (<10% APR) card. I've contacted both Cap 1 and Discover about a CLI that would allow me to do that. Both have said no due to the high balances across all of my cards.
My biggest frustration is with Cap 1. While I love the card and my experience with them, they recently reduced my credit limit by ~$4K. When I called to question it, they said they were making the credit available to other customers. They agreed that I had an outstanding payment history and that the balance had definitely gone down. That's great for their other customers, but not for me...not to mention I'm assuming that had an impact on my util.
I've called multiple times to see if they'd do a CLI solely for the purpose of debt consolidation...NOT to get deeper into debt. I've been told no, but that they will continue to review my account periodically.
Any suggestions? I'd really like to get this high interest debt to something lower, so I can pay this stuff off faster.
