February 2009 Weddings
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consolidate credit cards?
Has anyone consolidated their credit cards? Any advice or companies you can pass on to me? Much appriciated!
M/MC on 6/2010
DS: 12/19/2011
Re: consolidate credit cards?
I did that once and took out a loan to do it. I used Key Bank at the time, but I would shop around and go with a bank that would give you the lowest interest rate. I hated to take out a loan but it was nice to have only one payment. You could also find a 0% credit card and transfer all your balances to that one card. The only thing with that is that now a days it is hard to find a card that doesn't have a balance transfer fee. So you wouldn't want to pay a multiple fees if you are transfering from multiple cards. Just a thought. HTH.
As the other ladies have said, if you can qualify for a low-interest (meaning lower interest than any of your existing credit cards) personal loan it's a good idea to consolidate. Using a lower interest credit card used to be the way to go but, they are virtually non-existant any longer, even for those with perfect credit.
Canon 50D, Canon 50mm f/1.4, Tamron 28-75mm f/2.8, Speedlite 430EX II
Thanks for the info ladies! Ive never had to consolidate credit cards before. I just think its the smartest thing to do before starting a family. Ill have to look and see if I can get a credit card with 0% transfer and interest on it.