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$6,000 Dollars in Debt. Can a 635 get me a consolidation loan?

New Member

$6,000 Dollars in Debt. Can a 635 get me a consolidation loan?

I'm at about 6,000 in credit card debt and my interest rates are HORRIBLE! (all in the mid-high 20%'s on 4 accounts. 2 would not lower my APR after I tried via the phone (Dell and Best Buy). My question is: My equifax fico score is 635. Am I wasting my time if I try to apply for a bank loan or a new credit card with a lower interest rate to transfer the balance? Thanks!
Message 1 of 8
7 REPLIES
Frequent Contributor

Re: $6,000 Dollars in Debt. Can a 635 get me a consolidation loan?

Do you belong to a Credit Union? That is your best bet.
Message 2 of 8
New Member

Re: $6,000 Dollars in Debt. Can a 635 get me a consolidation loan?

Check out www.prosper.com. They provide person-to-person loans at better rates than banks. -Dave
Message 3 of 8
Moderator Emeritus

Re: $6,000 Dollars in Debt. Can a 635 get me a consolidation loan?

What are your other two scores?
Message 4 of 8
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Regular Contributor

Re: $6,000 Dollars in Debt. Can a 635 get me a consolidation loan?

I don't know of one person who sucessfully got a better rate with Dell. ( unless you file bankruptcy). My rate is 29.99%.. I still owe $800 on a computer I bought from them 5 years ago for $1700.00.. the computer will probably be junked in a few months and I will still owe about 750 on it.. LOL
 
Dell is set with their terms and rate. 99.99% of the time they WILL not budge with adjusting rates or minimum payments. ..
 
 
 
 
Message 5 of 8
Regular Contributor

Re: $6,000 Dollars in Debt. Can a 635 get me a consolidation loan?

Depending on your other scores, I would try for the HSBC American Dreamcard.  They are easy to get with scores above 600 and there is a 0% interest right now.  I think they pull TU or Eq.  Search for their link online and apply.  I don't know how much of a credit line your qualify for though, they are rather stingy with their limits.  There is always Amex Delta and Juniper, which are fairly easy approvals with scores above 620.  Might have a better chance of a higher credit line with one of those, but I don't think that they have 0 % right now. Good luck.
Message 6 of 8
Regular Contributor

Re: $6,000 Dollars in Debt. Can a 635 get me a consolidation loan?

I used to get a good laugh with Dell. They don't have a website to look at your balance or current statement. No way to pay them online.. And they are a computer company.  
Message 7 of 8
Frequent Contributor

Re: $6,000 Dollars in Debt. Can a 635 get me a consolidation loan?



Pants wrote:
I used to get a good laugh with Dell. They don't have a website to look at your balance or current statement. No way to pay them online.. And they are a computer company.  


they are the worst........Smiley Mad they also gave me a problem with the rebateSmiley Mad. you have to make double or triple payments just to get it downSmiley Sad im glad im finished paying themSmiley Very HappySmiley Wink
Message 8 of 8