Right now we have high UTI on a few smaller cards. I am considering getting one CC and transferring all the balances over. Is this a good idea or not? I am pretty sure I can get a lower interest rate, so I should be saving money ech month.
Right now we have high UTI on a few smaller cards. I am considering getting one CC and transferring all the balances over. Is this a good idea or not? I am pretty sure I can get a lower interest rate, so I should be saving money ech month.
It can be a good idea but you're going to have a hard time getting approved for a card with a high enough limit for the BT because of the high utilization on your current cards. It's always a catch 22 that when you need a BT card you can't get it just for this reason.
Right now we have high UTI on a few smaller cards. I am considering getting one CC and transferring all the balances over. Is this a good idea or not? I am pretty sure I can get a lower interest rate, so I should be saving money ech month.
What Irish said.. I tried to do an app spree so I can consolidate my debt into a single card, and I didn't get approved for a high enough limit.
Starting Score: (1/15)TU: 690 EX: 690 EQ: 711 Current Score: (10/18) TU-8: 813 EX-8: 808 EQ: 797 Goal Score: (7/20) 800+ for all three bureaus Take the myFICO Fitness Challenge
Get the Util down or take out a loan. Going forward, get in with companies who love to send out BT checks at different times. That way, you won't necessarily need a "BT" card(only one with a great limit from growing) in order to take advantage of said BT offer.
