What to do???

Anonymous — Mon, 24 Jul 2017 21:24:33 GMT

I currently have the nfcu cloc and its significantly lower than all my sub prime cc accounts and even my cc with them is also. Im wanting to pay off and close several of them , whats best way to do this put on cc or use cloc. Didnt do a balance ttransfer of tbe other cards in which I Should have . Dont think thats a option anymore or is it? Please advise my apr is lower on be cloc than ccs.

Re: What to do???

Appleman — Mon, 24 Jul 2017 22:21:55 GMT

I would consider paying off and not closing all of the cards. Start by closing the ones that provide no benefit or have an AF.

If you CLOC has a lower APR it can makes sense to pay off your cards with the CLOC. However, the CLOC will be seen as a revolving account so be careful with your utilization on the CLOC. In other words, I would not max out the CLOC to pay off all my cards. It would be better to use 50% of of the credit line. Remember that any revolver that exceeds 90% utilization is often seen as maxxed out.

Next, set up a personal budget so you can stop creating new debt.

Good luck!

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What to do???

Re: What to do???