Well I just registered b/c I have the exact same question. I have $10k left in my only student loan. (Direct Loan as well) I wanted to change it to a fixed rate before July 1st when the rates go up 1.08% but they kept saying that it would be a "loan consolidation" even though it's just one so I really don't feel like it's a consolidation. If that's going to happen, I might as well just transfer it & open up one of the many 0% cards I get. Here's a few details on my situation - any advice would be great. ------------------------------------------------------------------------------------------------------------------------------------------------------1) We are probably going to get a house/condo in the next 6 months. We live in NY. My hubby's score is in the 800's - I'm 728. --------------------------------------------------------------------------------------------------------------------------------------------------------2) I have 3 credit cards I use, 1 Mastercard Chase (my oldest from 1999) My Citi Elite Primer Pass (from '05) & My B. of A. Amex rewards (got it when they were still MBNA in '05) Sometimes they offer really low rates or even 0% on balance transfers. --------------------------------------------------------------------------------------------------------------------------------------------------------3) Should I consolidate for a lower rate, just transfer or open up a new card? I'm thinking I should just take the 1.08% increase for now & transfer to a 0% once we become owners & are no longer renting. Will consolidating/transfering look bad on my credit report? Any idea how many points I may loose? Will it look worse when it's listed as debt on a credit card vs the student loan now shows up as "educational?" Message Edited by choo-choo on 06-30-2007 09:09 AM Message Edited by choo-choo on 06-30-2007 09:10 AM Message Edited by choo-choo on 06-30-2007 09:11 AM
Message Edited by choo-choo on 06-30-2007 09:11 AM