UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next
Author: Bock Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 309101  
Subject: Transferring credit to lower rate Date: 5/7/1997 2:51 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
I'm about to transfer my credit on one of my cards at 17+% interest to a card at 5.9% intro rate. I'm planning on paying this off during the intro time period as I am digging myself out of consumer debt. I don't have that much left to pay, just over $2400. But...my question is...

Is it going to make it harder for me to get loans in the future if I transfer my balance to a Platinum card with a $10,000 initial credit limit? Or should I stick with a card with a more reasonable limit? I understand that lenders take into account the consideration of how much you could be potentially oweing. Does this fall into that logic?

I plan on using my credit card as my "cushion" until I can get enough savings up to cover any emergencies that might come up.

Thanks for the advice!
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (4) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.