Hi, I need to transfer a balance before the end of the year and wanted to know what will be my best bet. I would like to transfer about $5000 from high APR (26%+) CCs to a low one, but I would be happy with only transferring about $2000.
My FICO scores are 664 and 656. I am 26 years old, and my CC history is only about 3 years old, but I've never been late on anything. The only Credit I've ever had is Credit Cards (6 major CCs and 5 store cards). I did have an insurance bill that was send to collections after I moved in 2004, but as soon as I found out about it in 2005 it was paid off, it's only currently showing on my TransUnion report. Currently I only have a balance on 2 store cards and the balance on the other major cards are really close to the limit. My husband's credit history is a lot longer than mine, but he does have a bankruptcy of really old debt, after the bankruptcy in 2005 his credit is similar to mine, was only late 60 days on a student loan in 2006. Oh and the mortgage is on his name only. He tried applying for credit at our CC we've been in for 6 months and were denied, I was a co applicant, then I tried to apply for a card with Capital One and was also denied. It said it was because of recent request(the one at the credit union), high balances and delinquent history(old collection account that was paid in 2005). This was last week. I really need to transfer some of it before the end of the year before the rate goes up, that's the only reason I'm looking at opening another card. We've changed our habbits and aren't using Credit Cards any more, and if I can get the interest lower I can paid it all off soon.
So what do you guys think is the best bet? Would it be better if I applied on my own, or if my husband applies on his own or if we do it joint?
Oh if it matters this are the cards I have:
3 with Capital One
2 with Orchard Bank
1 with Chase
The other are store cards.
