Hello!
It has been a while since I have posted here and I am in a little pickle due to COVID19. Prior to the pandemic I was on the road to improving my credit even more but due to the loss of overtime and hours at work I lost over 12k in income last year and still no OT in sight. This has led to me needing to use my CC WAY more than I had intended. I am now roughly 17k in debt accross all of my cards. The biggest balance is 11k on my 17k limit NFCU More Rewards Amex with a 14.99% interest rate which i have stopped spending on. So my current train of thought is to see if my Grandmother is willing to cosign on a balance transfer offer as with my current debt no one will touch me on my own given my low score. Plan is to transfer off as much as I can to the offer if approved and pay down the 0% balance alongside the remaining balance on the More Rewards. This way less of my payments go to interest. Choices of cards to apply for are the BankAmericard with 0% for 18months (I had a secured card that defaulted and was charged off back in 2011/2012 with them) which my Grandmother banks with. Other option would be 0% for 15 months with BBT Bright Card ( I have an auto loan with them and a checking account where i make those payments). Which options is the best choice and likely to give me the largest limit? Will how much I intend to transfer on the app benefit the limit? My income has dropped to 40k without OT. My score is around 620-640 or higher depending on the model and my Grandmothers is in the 750 range.
Also if there are other BT offers you guys know of that I havent explored please let me know! I know USBank has a great 20 month offer but I applied for that one on my own and was denied as they have high credit score requirements it seems and I am not sure theyll allow a second application or give me a high balance to be able to transfer enough to make this worth it.
If this is in the wrong section please move it! I couldnt decide which forum section this fit into best.
