Sagittarius
08-20-2016, 04:25 AM
To begin with, pay those cards on time! I try always to add something to the minimum balance, even if it is only five or ten dollars. If you can manage a little extra in mid-month that is good, too.
Look up your credit score and keep it in mind. If it is not high enough you may not be approved for a no interest transfer of balance and that does not look good. In many cases the card company will hold out a transfer at 0% interest as a carrot and then, when you apply, only give you a partial amount of your request. If they do, remember that you are adding yet another payment to keep up with and that may not be easy or at all desirable.
You might talk to your bank about a consolidation loan to see what rate they offer. Beware, that can be another pit into which you may fall.
It is, however, worthwhile to have an ongoing relationship with a full service bank. If you do not have one, work on that. Just an example, I am 68 and have been with the same bank since I was about 22. Cute Story Department: I once needed a loan and knew it was iffy. I went in and talked to a banker who happened to be one of those well kept and just out of college guys who had gotten a bank job. He asked me why I was coming to his bank for the loan. I simply told him that I needed the money for a furnace and that I had been banking with his bank since before he was born and I thought I was worth the risk. Got the loan on good terms.
Think of your credit score and your banking consistency as your financial reputation and guard it diligently. Be careful. Bankers smile a lot and seem to be generous but they are like foxes...quite wily.
Look up your credit score and keep it in mind. If it is not high enough you may not be approved for a no interest transfer of balance and that does not look good. In many cases the card company will hold out a transfer at 0% interest as a carrot and then, when you apply, only give you a partial amount of your request. If they do, remember that you are adding yet another payment to keep up with and that may not be easy or at all desirable.
You might talk to your bank about a consolidation loan to see what rate they offer. Beware, that can be another pit into which you may fall.
It is, however, worthwhile to have an ongoing relationship with a full service bank. If you do not have one, work on that. Just an example, I am 68 and have been with the same bank since I was about 22. Cute Story Department: I once needed a loan and knew it was iffy. I went in and talked to a banker who happened to be one of those well kept and just out of college guys who had gotten a bank job. He asked me why I was coming to his bank for the loan. I simply told him that I needed the money for a furnace and that I had been banking with his bank since before he was born and I thought I was worth the risk. Got the loan on good terms.
Think of your credit score and your banking consistency as your financial reputation and guard it diligently. Be careful. Bankers smile a lot and seem to be generous but they are like foxes...quite wily.
I bid NO Trump!
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