Yes.. very thankful that we are currently have all 19,300 of credit card debt divided on 3 accounts at 4.75% or better. I thought once I started doing some shifting and requesting better rates more amd more offers would be coming in the mail.- they just are not. A few offers here and there. but just not what I had hoped and not even from cards we have that are at ZERO balances andjust not being used at all. Besides the no brainer of paying bills on time.. can anyone suggest key things that we can do that will have the offers coming soon? Cherie
19K is a high debt, I realize you have them spread across 3 cards, but what utilization are you at with those 3 cards?? Remember as they say, you never get the good deals unless you can't use them. You higher debts may be the cause for you not getting any better deals or aprs. You have a pretty good rate, I would try to use this rate and pay off as much as you can. if you just keep waiting for better BT deals and rates, instead of using what rates you have, your debt may never go down.
Cherie, I agree with bailey. You may well be stuck here for awhile {though 4.75% ain't bad sticking place}. 19K worth of cc debt is about 2 1/2 times the average of people who carry balances. I'd just keep paying as much as possible every month to pay this down and not apply for anything for 6 months .
cherie: I am curious. What cards do you have with a zero balance that are not giving you a good BT deal? I am in the process of paying down cards and shifting balances around, hoping to get better rates and better BT offers. I am trying to do this intelligently, putting my money where I have the most chance of getting results, so this info would be helpful. So far, Citi has cut my APR to less than half of what it was and offered me a 6.9% BT rate (which is great for me at this time). First USA has also offered me a good BT rate.
I realize that 19k is a alot of CC debt..that is why I read here.. and everywhere esle I can. We had the average middle American CC debt when our daughter had an accident a few years back that needed a extensive surgery and months and months of rehab and physical theraphy. However we are so grateful that she can walk and has resumed a normal teenaged life. I am reminded each time how high our debt is . when I get in one of the old cars and pray that it starts and gets me back home. Each month when I look at the finance charges and wonder what I could have bought with that $70 or 80 dollars. You know the story.. I am just trying to get paid down and off the quickest, easiest and the lowest finance charges possible. Thanks for the input. Oh and our untilization or open credit . .76% Thomas, MBNA Credit Line of 23,500 - no good offers . extremely disappointed here.. Chase ... 8,200 wrote to them by email .".nothing now.. try again at a later time" Juniper .. 8500 allowed 2 rounds of BT's w/ no fee's .. first a zero for 4 months .. then a 2.9 for 4 months.. no offers since. havne't asked again yet. Cherie
I have one suggestion, use the MBNA for a couple of months and pay it off. Carrying a balance has never hurt my rate of offers, I have an extremely high utilization rate. I find the key is to accept anything under 10% and carry a balance till the month before the go to rate kicks in and move the balance. 4.75% is an excellent rate and you are already using 76% of your credit, so you don't have much maneuvering room. Be careful with what you wish for, you may get it. www.creditsense.com
