Credit Lines and Loans

[Creditaddict]

Has anyone had experience with anyone like Citi for there unsecured Credit Lines to consolidate debt? Any other company's offer consolidation loans without having mail offer?

Are they generous with credit lines?

Help your scores out?

[Anonymous]

the citifinancial loans are easy to get, but have high apr's and can hurt fico scores because they are consumer finance loans (which fico hates).

[Creditaddict]

I need something to recover fico scores from the hits they have taken with credit cards!

I can't just pay them all off either! so thought if I could clear 3-4 of them to help overall util, would bring scores up.

suggestions?

We are talking like 770 down to 680 range

[MidnightVoice]

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Creditaddict wrote:

I need something to recover fico scores from the hits they have taken with credit cards!

I can't just pay them all off either! so thought if I could clear 3-4 of them to help overall util, would bring scores up.

suggestions?

We are talking like 770 down to 680 range

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Do you need to get your score up for any reason?  If time is not an issue, paying them off slowly will do it.

And what are the APRs?  And would a consumer loan be lower?

[Creditaddict]

The rate would def. be higher, I knew I would be carrying these balances so everything has been transferred to new cards with locked in for life of balance rates, 2.9 on 2, 3.9 on like 4, and 2 5.9 oh and 1 7.9.

I'm not really doing it for saving money factor, doing it to consolidate how many payments I have a month and to increase credit score.

[MidnightVoice]

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Creditaddict wrote:

I'm not really doing it for saving money factor, doing it to consolidate how many payments I have a month and to increase credit score.

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Do you have an inmmediate need for a high Score? If not, you are throwing money down the drain.  And that money could be used to pay off balances and increase your score.

FICO does not like CITI loans like this