@Anonymous wrote:
Pardon my dumb question, but what would I tell them? I have the option to balance transfer to my CU credit card (credit line of 1000 is not enough I would need an increase). They are offering no transfer fee, but 12.10% APR. I think it would be better to just attack the highest rate cards that I am not being charged interest on and pay a little more than minimum on the highest balance (16.24% interest). Should I request an increase from my credit union or maybe even a personal loan? Im hesitant about the loan as I have student loans with them already. I have no outstanding balances on any of my CU accounts so maybe that will help.
Thanks again for the help everyone!!
Like I said before you would want to ask for an increase even if its a HP....but...12% is better than 25, however since you are able to pay 1k a month its really not going to take that long to get all of this paid off. I would just ask them if they offer a lower interest rate personal loan if 12% is the best rate they can do on a card. And ask them what kind of increase they would give you. If its not going to be more than 5k added, its not worth it IMO. Just snowball, and when your scores are up re-evaluate, get cards that make you money.
