Should I Transfer Cards To A Lower Rate Calculator

I need financial advice from those who have had experience, please ...

I hit a super balance on one of my credit card accounts that has an unstable interest rate so I am hunting to transfer it to a 0% card. The difficulty is, my credit rating has slipped cod to New payments and I am having no phenomenon uncovering a card to approve me. If anyone has absent finished this (or has famous someone who has) would be so category to deal tips or strategies with me, I would revalue it! I see same I am drowning in debt! Thank you in advance:)

Call your credit card company and ask to speak with a supervisor. Tell them that you’ve got an offer from XYZ credit with a balance transfer offer of 5%, and you are wondering if they would drop your interest rate to match that so that you don’t have to bother with transferring your balance. Most of the times the credit company will lower your rate to keep you as a customer. 5% of your balance is better for the company than 0%.

A 0% interest rate is usually a temporary thing. Unless you have plans to work hard paying off the debt, transferring it to another card isn’t going to be much help.

Since you’ve already tried getting other cards, I’d suggest you forget about transferring the balance and just work on saving money and making large payments on the debt.

If you need help, try reading “The Total Money Makeover” by Dave Ramsey. He’s a little “preach-y” sometimes, but his advice is good.

The credit card company doesn’t want you to default on it but hopefully you can get them to meet you halfway, in a manner of speaking. Just be nice when you call and they may be more willing to work with you. It’s a nice change for them if someone is nice since most of their day is probably spent with people yelling at them.

You need to call the company and negotiate directly. I think most companies will work with you. Do you have any collateral to offer for a secured loan from a credit union? It won’t be 0% but at least it will be a better rate and help you to reestablish your credit. (improve your score) You have to be realistic in terms of what your options are given your circumstances.

I’m afraid the credit card company won’t give you a low rate card unless your credit is rather excellent.

Try to obtain a loan from friends / family or the bank at a low rate and pay off the high interest credit card.