Announcement

Collapse
No announcement yet.

Chipping away at $15,000 worth of Credit Card Debt

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    #31
    Originally posted by Outdoorsygal View Post
    I've heard if you transfer your balance it could affect credit scores
    Only if it bumps that card's usage rate above 30%. But honestly, I took the score hit because a 0% transfer offer outweighs the temporary dip. Of course, that would not be the case for a drop of 1.2%.

    Note that even while we still had a 5-figure CC debt we started getting 0% offers. It took about 6 months of downward balances for them to start arriving.

    Comment


      #32
      Originally posted by Nutria View Post
      Only if it bumps that card's usage rate above 30%. But honestly, I took the score hit because a 0% transfer offer outweighs the temporary dip. Of course, that would not be the case for a drop of 1.2%.

      Note that even while we still had a 5-figure CC debt we started getting 0% offers. It took about 6 months of downward balances for them to start arriving.
      Interesting. We are going to buy land so I want to avoid that dip. I am glad it worked out for you.
      My husband said we've been with the CC company for many years so I am going to go for a 6% interest rate when I call them tomorrow. That will make it a savings of almost $50 a month.

      Comment


        #33
        Originally posted by Outdoorsygal View Post
        Interesting. We are going to buy land so I want to avoid that dip. I am glad it worked out for you.
        My husband said we've been with the CC company for many years so I am going to go for a 6% interest rate when I call them tomorrow. That will make it a savings of almost $50 a month.
        If the representative that answers the phone says NO ask to speak to their supervisor. If they say NO as well, call back tomorrow. Sometimes getting the right person on the phone is key.

        Comment


          #34
          Originally posted by DaveInPgh View Post
          If the representative that answers the phone says NO ask to speak to their supervisor. If they say NO as well, call back tomorrow. Sometimes getting the right person on the phone is key.
          Excellent advice thanks!

          Comment


            #35
            Originally posted by Nutria View Post
            Only if it bumps that card's usage rate above 30%. But honestly, I took the score hit because a 0% transfer offer outweighs the temporary dip. Of course, that would not be the case for a drop of 1.2%.

            Note that even while we still had a 5-figure CC debt we started getting 0% offers. It took about 6 months of downward balances for them to start arriving.
            Interesting, that's great they sent those offers. I've checked them and it seems there are maybe 3-5 companies who offer these great deals.

            Comment

            Working...
            X