balance tranfer

Submitted by Anonymous (not verified) on Sat, 03/27/2010 - 11:57
Forums
Credit repair

I have a 8000 limit on one card and balance is 6000. They just increased my rate to 24% ! I had called them to lower the rate but they refused. However, I am paying 190 a month and my balance is barely going down, my credit score is only 656 also. What are my options? Will i get approved for a 0% balance transfer on another card or should i try to register with a credit union?

Aaron

Hi Bamble,

Most of the banks are now increasing the interest rates. With the economy these days, they perhaps have no other option. With a score of 656, it will be tough to qualify for a new card. You need to improve your credit score for that. If you have a personal loan, you can use it to pay off this card. You can register with a credit union too.

Hope this helps.

Thanks,

Aaron

Sat, 03/27/2010 - 12:14 Permalink