Putting everything on one card
Date: Thu, 03/19/2009 - 08:07
Yes and no. How much of a credit line do you have available on
Yes and no. How much of a credit line do you have available on the card that you're wanting to put everything on?
ex....how much are you going to put on this one card and how many cards is it?
Keep your overall utilization % at or below 35% and you should b
Keep your overall utilization % at or below 35% and you should be fine.
and depending on the cards you are transferring from, some charg
and depending on the cards you are transferring from, some charge fees. And the card that you are transferring TO might charge a fee. Whenever I am working on my credit, I always sit down with a glass of water and a spare hour, and call all of my cards one right after the other. I ask about fees, interest etc, and notate everything on each cards file (I keep a seperate file for each card so I have one spot to maintain the information,bills etc on each card). After I have all of the information on each and every card, I THEN make a decision on what to do, if anything.
I know that a lot of people on here hate them, but I have to say that Capital One was the easiest one of mine to transfer to, there was NO charge when I transferred my Sears store card balance, and it was in effect immediately. It changed the interest on the balance from 22.24 to 9.24 which was a bit of a savings every month.
