No. of 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. 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!
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
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.
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.