I'm new here, just found this site and thought someone could answer some questions I have. I have excellent credit. The two major cc's I use have limits of about $15,000. So that's not the problem. I am wanting to consolidate the two (about $10 or $11,000 total in debt) and I was considering getting a personal loan but I don't know if that is a good idea or if I should just get a cc w/a really good %rate and consolidate it there and pay it off. Also, I haven't looked at my credit report in quite a few years but do recall that I have some store cc's on my report that I haven't used in at least 8 or more years. I know some are still open and I was wondering if it creates any problems if I were to close them all at once? Also, since I receive at least 2 cc offers a day in the mail does that mean that they're always checking my credit report? Does that affect it in any way? Will it affect it if I order a report for myself? Thanks for you help.
Getting a good APR and consolidating your other higher interest CC's is definitely a good way to save some money. Getting rid of unused revolving accounts can actually improve your credit so yes, get rid of the ones you never use and also It's a good idea to check your credit reports at least once per year, and no ordering your own credit report will not affect your credit in any way. The offers you get in the mail also do not affect your credit. Regards, Alex Creditinsiders.com ------------------ Need Credit? Let Us Help! http://www.Creditinsiders.com
FYI: My bank (a credit union) does not grant unsecured personal loans for more than $2500, and I think a lot of banks are like that (small amounts for unsecured loans). A consolidation loan may be different, I'm not sure. If you can secure the loan with your house or a car, I'm sure you can get a larger amount through your bank.
