Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
Re: Consolidation Loan For Credit Card Balances?

masscredit wrote:

About $4500.00.  I just thought about this today so I haven't researched places yet. Possibly my credit union or online. Open to suggestions for that :smileyhappy: 

 

A buddy was going to consolidate his credit cards and car loan with Wells Fargo a few months ago but something didn't go right. They contacted him so it sounds like the offer was going to be in their favor. 


The problem you're going to have is that you have high util, based on the CLs in your sig and $4500 bal., and you have a fairly recent bk. a lot of places are going to be reluctant to give you a loan that, in effect, is just going to enable you to get further into debt. As the saying goes, it's easier to get credit when you DON'T need it.

 

your best bet is going to be a cu, if they aren't too conservative. Call and explain your plight and see what they're willing to do. FYI, its better if you can plan for spending like that. For example, you'd do better with CLIs on your current cards and getting a 0% bt card without this high util on your cr.

 

good luck!

 

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EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!