No. of Recommendations: 0
Hey folks...

My wife has one card with about a $15k balance and, unfortunately, it's at about 15%. That's -after- I got her to call and try to get the rate lowered. They were only willing to go down 1%.

I'm wondering what you guys/gals think would be the best strategy to get that to a more reasonable level. She's got a great credit score - 775. She tried to get a new card with a cheap teaser rate for balance transfers, but they only offered her a $3500 limit when she applied so that doesn't really help much.

I was able to get my total $15k balance transferred to a card for 2.99% for the life of the balance. She has one other card with no balance, but unfortunately it's only got a $7k limit at an even more ridiculous rate. So...

1. Is there any way to know what kind of balance limit you'll get -before- you commit to the card?

2. Assuming the answer to #1 is "no," is it smart to open up multiple cards with good balance transfer rates and transfer the $15k in pieces?

Any advice would be greatly appreciated.


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.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
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.