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consolidating credit cards
Has anyone used this as a method of debt reduction? for example, i have one credit card with quite high limit and three almost maxxed out with low limit. is it a good idea to transfer the balance and cancel the other cards? The interest rate is lower (14.9%) on the card I would transfer them too.
Put the Other Debts on a Lower Interest Card
If your present cards have high interest rates on them, you could transfer them to one with a lower interest rate. My husband got a checking account with a bank, then he applied for a credit card with them. The interest rate was 3%. So he transferred his higher ones to that. Make sure that the interest rate you are offered is not an introductary one that will go higher in the future.