Can I Consolidate All My Credit Card Debt Onto One Low-rate Card? - CREDIT INFORMATION

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TODAY'S SAVING TIP  This depends on what kind of inquiries they are, and even on the type of credit you are applying for. Usually, lenders consider several applications for credit over several weeks or a few months to be a bad sign that you are overextending yourself ... Read more
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CREDIT INFORMATION: Can i consolidate all my credit card debt onto one low-rate card?


Maybe, but two issues always come up. If your credit is damaged, you might have trouble accomplishing a balance transfer, and you might not qualify for a credit line large enough to cover all your debts. Add up your debts so that you know exactly where you stand. If you are up-to-date with your credit card payments, call your card issuers and explain that you'd like to transfer your balances from other cards if they can give you a competitive rate or allow you to open another account with a low introductory rate that's good for six months or a year. If necessary, ask for a credit line increase. Close your other accounts if you are able to transfer your balances to a lower rate card. Pay more than the minimum monthly payment and pay on time. Stop making charges and pay the balance off as quickly as you can.

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