Reply
New Visitor
katism
Posts: 2
Registered: ‎07-18-2007
0

$6,000 Dollars in Debt - consolidate via a personal 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!
Frequent Contributor
chartley3
Posts: 489
Registered: ‎05-23-2007
0

Re: $6,000 Dollars in Debt - consolidate via a personal loan?

I would do a combination of both. You should easily get a personal signature loan from a Credit Union to pay off the CC bills, then I would look to apply for new cards that have better interest rates.
Senior Contributor
Noah_Bodie
Posts: 4,635
Registered: ‎03-11-2007
0

Re: $6,000 Dollars in Debt - consolidate via a personal loan?


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}