NOTE: There are a lot of cards that do this...but MOST charge a balance transfer fee.
My husband and I have a credit card through our joint bank account. Recently, we transferred a balance onto this card because there was a 15month 0% interest rate on balance transfers. I have excellent credit and my husband has okay credit. Never missed a payment and never late on a payment. We have been paying well over the minimum on our bank cc for the past several months in order to have it paid off by the time the 0% interest expires. Anyways we just got a letter that says they are decreasing our credit limit because of the following:
"Amount owed on revolving accs is too high"
"Proportion of balances to credit limits is too high on revolving accts"
"Length of time accts have been established"
I pay my cards off in full every month and have minimal (less than 00 cc debt that is on another 0% interest card). My husband has higher balances but pays at least the min every month. Our balance is still less than our new credit limit, I dont want this to impact buying a house.
My current rate is 19% on about 10,000 in debt. I received a letter from capitalone for a no interest card until nov 2009 on balance transfers. Is it a good idea to do the transfer? Seems like it is.
my situation... i have built up about a K credit line since i turned 18 7 years ago. i always made payments on time and until about a year ago was only carrying a balance of a couple thousand dollars. about a year ago, i lost my job and after about 6 months of RELUCTANTLY living off credit cards, i found myself in about a K hole. also, i now have 4 or 5 30 day late blemishes on my report. for the last 6 months, high interest rates and such have made it hard to reduce this amount any, so i still owe about K with about K total credit available. i have been worried about how applying for more credit could affect my score and thus, subsequent loans. would 0% balance transfer cards be worth looking into? can i get a card or cards for that high of an amount? has anybody been in a similar position? any worthwhile advice? thanks for your help.
i was unemployed for about 6 months, but HAVE been employed for about the last 6 months - made payments on time and everything all the while
I need to transfer my balance from my credit card to a new one. Any credit card that offers 0% interest for 12 months or a low interest for the life of the balance?
