Comments on: How To Lower Your Credit Card Interest Rates http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html personal finance blog with anecdotes, advice and commentary. Sun, 22 Nov 2009 04:50:49 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: jim http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html/comment-page-1#comment-212934 jim Wed, 30 Jan 2008 22:02:06 +0000 http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html#comment-212934 Shifting debt should not affect your score. However, if you are applying for a new card (to a low interest card), the inquiry will have an affect on your score. It's hard to say how much of an effect since you'll have one extra credit pull but, if the application is approved, you'll have a higher total credit limit and a lower % used. It might be a wash, it might not be, since no one knows the black magic of FICO with 100% accuracy, it's difficult to say. Shifting debt should not affect your score. However, if you are applying for a new card (to a low interest card), the inquiry will have an affect on your score. It’s hard to say how much of an effect since you’ll have one extra credit pull but, if the application is approved, you’ll have a higher total credit limit and a lower % used. It might be a wash, it might not be, since no one knows the black magic of FICO with 100% accuracy, it’s difficult to say.

]]> By: Jean Goonewardene http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html/comment-page-1#comment-212899 Jean Goonewardene Wed, 30 Jan 2008 21:28:14 +0000 http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html#comment-212899 I was wondering if its okay to shift my debt from one card to another (low interest cards) will it reflect badly on my credit scores? I was wondering if its okay to shift my debt from one card to another (low interest cards) will it reflect badly on my credit scores?

]]> By: Dan http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html/comment-page-1#comment-92284 Dan Tue, 01 May 2007 02:21:02 +0000 http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html#comment-92284 I've been using Prosper for a few weeks now and have an average loan rate of 13%. So far, so good, a few of the loans are paying already. I'm posting my findings, strategies and lessons learned on my finance blog. Enjoy! http://www.everydayfinance.blogspot.com I’ve been using Prosper for a few weeks now and have an average loan rate of 13%. So far, so good, a few of the loans are paying already. I’m posting my findings, strategies and lessons learned on my finance blog. Enjoy!

http://www.everydayfinance.blogspot.com

]]> By: Gus http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html/comment-page-1#comment-70197 Gus Mon, 12 Feb 2007 04:05:03 +0000 http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html#comment-70197 Good advice. I found some similar info about credit card interest rates on cnn.money.com and WallStreetQuest.com Good advice. I found some similar info about credit card interest rates on cnn.money.com and WallStreetQuest.com

]]> By: Mission Debt Freedom http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html/comment-page-1#comment-69957 Mission Debt Freedom Thu, 08 Feb 2007 21:27:41 +0000 http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html#comment-69957 This was excellent advice on reducing interest rates to make those payoff dollars work even harder. Tricia has made excellent progress...I frequent her blog daily! This was excellent advice on reducing interest rates to make those payoff dollars work even harder. Tricia has made excellent progress…I frequent her blog daily!

]]> By: Tim http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html/comment-page-1#comment-69963 Tim Thu, 08 Feb 2007 21:14:58 +0000 http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html#comment-69963 credit card companies are getting harder to deal with these days, and many won't discuss anything unless you go through a consumer credit counselor company. although not for everyone, going through a credit counselor may be the best option. just know that you will not be able to get credit during the period. also note that some companies like amex, will count your account as a charge off. the plus side is that you will more than likely get 0% interest on much of your debt. although contrary to the program, you should keep a long standing credit card open just to have it when you pay things off. this one should be one that wasn't late. credit card companies are getting harder to deal with these days, and many won’t discuss anything unless you go through a consumer credit counselor company. although not for everyone, going through a credit counselor may be the best option. just know that you will not be able to get credit during the period. also note that some companies like amex, will count your account as a charge off. the plus side is that you will more than likely get 0% interest on much of your debt. although contrary to the program, you should keep a long standing credit card open just to have it when you pay things off. this one should be one that wasn’t late.

]]> By: Lazy Man and Money http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html/comment-page-1#comment-69943 Lazy Man and Money Thu, 08 Feb 2007 17:32:15 +0000 http://www.bargaineering.com/articles/how-to-lower-your-credit-card-interest-rates.html#comment-69943 5% for $25,000 of unsecured debt is pretty fantastic. It's almost at the point where if you could borrow more money at that rate you could make out by putting it in a high interest bank account. Simply amazing considering where you started. 5% for $25,000 of unsecured debt is pretty fantastic. It’s almost at the point where if you could borrow more money at that rate you could make out by putting it in a high interest bank account. Simply amazing considering where you started.

]]>