"Sara Brown" <sbrown1062[at]hotmail.com> wrote in message
news:604d6715.0307091035.28b12a38[at]posting.google.com...
- quote -


Sara:
If you're carrying a monthly balance on the cards, then your asking the
right questions about how to best eliminate this type of debt. I would
strongly recommend consolidating that debt onto one card that offers you the
best rate and close out the remaining accounts. Your credit report will show
something to the tune of "Closed At Customer's Request". When all is said
and done I would recommend two credit cards, a Discover and a Visa. Some
people recommed a few more cards with no balances to hike up your credit
score for future home or car purchases. Try to get some decent bonus reward
deal for the future if possible.

Before you consolidate the debt you do need to find the best deal. Bare in
mind some may sound good but jack the rate up on the transferred debt if
you are late on any payment. Once you find the best deal tell your current
card companies about that deal and ask them if they can do any better. Make
it clear to them that you will be moving unless they can beat the deal. You
will find that the companies will be more than willing to negotiate. If
suspect of this approach you should bare in mind that the credit card
companies are making a lot of money off your balance -- they don't want to
lose you.

Good luck and try to get that debt down as quickly as possible. I remember
all too well getting into that pinch when I was in graduate school. It was a
few lean years after graduating but its a huge relief to have that expensive
form of debt off your shoulders.

JSR

I've gotta consolidate some of my higher interest credit cards. I just
picked up that Capital One is offering 4.99% -- and it's a long-term rate
with no other fees attached?! I toyed with some of the 0% offers but those
deals seem to be jumping up their rates on much shorter timelines now. My
credit's great, which I know you have to have for the lower rate cards. Any
info or experience with low rate long-term cards is appreciated.